How can bad credit be good?

My best friend 2 years ago filed for bankruptcy. She was forced to close all her accts. She had delinquincies in her report. She got a credit card for bad people with a low revolving line. In 2 years she has 4 credit cards and a good credit score. I have an unsecured credit card with a $300 limit (not even close to being maxed out) and another card on a debt management program. For 3 years I have paid more than the minimum on each card (the $300 card and paid MORE than what debt mgmt. co negotiated) I have always paid before the due date. I have a school loan that I pay on time all the time and never missed a payment. Her credit score is EXPONENTIALLY higher than mine while mine has staid in the high 500%26#039;s for a long time. AND when I just applied for a store credit card I got denied. I asked if my $300 limit card could be raised to $500 - and was denied. My 3 credit reports from last week don%26#039;t show anything out of the ordinary. I cant figure out why I was denied credit.

How can bad credit be good?

if you find yourself stuck between a %26quot;rock and a hard place%26quot; in regards to your credit, there are many things you can do to build a solid credit record. Many of these things are similar to what you could do if you had bad credit.

If you have lived in the same home for at least a year and held a job for the same period of time, you may qualify for small lines of credit with department stores and other businesses within your local community. Make sure these businesses report your account information with the three national credit bureaus or you will be wasting your time using their cards to build your credit.

The interest rates on many store cards may be higher than a typical credit card, so make sure to keep only a small balance on any of these cards you may have. It%26#039;s often a good idea to avoid paying off your entire balance so you can build a repayment history for your fledgling credit report. As long as you don%26#039;t max out your cards and make your required minimum monthly payments you%26#039;ll be fine.

Another way to build credit is to take out a small loan from a local credit union or bank where you are a member. If you can avoid it, don%26#039;t use the proceeds of the loan except to repay the debt. You will pay a small fee in interest but that%26#039;s often a small price to pay for building your credit.

Once you%26#039;ve established a credit record and creditors can see you have no problems paying off your debt you may start receiving offers from major credit card companies. You could start getting all sorts of mail from Discover, Visa, MasterCard and even American Express.

Be careful about applying for too many lines of credit. Most lenders will check your credit history when you apply for credit and each inquiry is noted on your credit report for at least six months. Too many inquiries are a red flag to creditors that you may be financially unstable. Your best bet would be to apply for no more than one line of credit every six months. Read more about it at: http://www.credit-card-gallery.com/artic...

How can bad credit be good?

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,

if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is a straight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-cons...

if it helps kindly remember me in your voting!.. cheers!