My husbands credit is not that great.....?

[Mrs.Stacks2B]

And now he is receiving credit card offers that you have to pay like 29.00 for the application. And you're credit limit to start w/ is 200.00, but you have to pay other fees also which leaves you w/ a 50.00 limit off the bat. Is this a good way to re-build his credit or is this just a scam??? Thanks!!!

[incognitive_dissonance]

Definitely a scam. Anyone, regardless of how bad your credit score is, can get a credit card. As long as they pay a TON of fees, and a RIDICULOUS interest rate. My credit is shot to death, but I still receive tons of CC offers from these scabby places. The best way to build credit is to first, acquire your credit rating from the internet (google free credit report), find out whom you still owe money, contact them to try to work out an agreement to pay them back. A lot of times they will not expect you to pay the full amount! after your credit is clear, it won't be long until you can be accepted by smaller credit accounts such as Target, Sears, ect. Also, if you have a bank account, a lot of times they will give you a small line of credit just because you're their customer. Chase did this with me, and I have no idea why. If you owe tons of money, like over 10000 dollars, its a good idea to check into credit counselors or even filing bankruptcy. So pay them back, pay your bills on time, try to get small store credit, and wait, it'll come back!

[saberhilt]

Nope. Don't do that.

Go to a bank, any really; WAMU, Wells, BoA, etc. and get a Secured Credit Card.

This operates by you putting money into an account (typically a minimum of $300). This then becomes your credit limit. When you spend off this card you do not eat away at the money in the account, rather that money is there as a back-up should you ever default on the card.

Keep a revolving balance on the card of 10-25% of the limit.

On a monthly basis as you can, put an extra $100 in the account. This will give you an extra bump in your fico.