secured credit cards for bldg credit..Do you have to pay intrest if you pay the balance in full?
by Author on Monday, July 26th, 2010 | 2 Comments
I would like to also know your advice or opinion about gas credit cards...if you have them and if you pay percentage rates for every purchase no matter what. I am trying to build credit, as I have none. ..Would you recommend your favorite to me, someone with little or no or fair credit?? Thanks
Thank you, that is what I needed to know..My good bank rep is now too far of a drive for me, and these others take up my whole lunch break and dont help...Thanks a lot..
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If you pay the balance in full on gas credit cards, there is no interest. You only pay interest if you carry a balance from one month to the next. The same is true for secured credit cards.
Check with your bank first to see if you can get a secured credit card thru them. Start with a small limit. Use the card for small purchases and pay in full every month. In about a year, you should be able to convert the secured card to a regular account.
This site has good info on credit cards: http://www.federalreserve.gov/Pubs/shop/
Well it use to be that you pay NO INTEREST IF PAID IN FULL each month. Most are still that way but be dilligent in your search for a credit card becase soon you will find some companies that will charge you for paying your card in advance – just another way of them being able to collect the almighty dollar from the consumer