KJ Rep Points:
20
Posted on
April 2, 2008
at
8:06 am
One of my teachers from high school told me that an easy way to build credit is using a gas station credit card.Is this true? She said you can only use them at gas stations and they have a pretty low maximum.
Posted on
April 2, 2008
at
1:25 pm
Gas cards are a great way to improve your credit. Since most are set up with lower allowed balances, there's less risk in running up a bill you won't be able to pay later on.
Posted on
March 23, 2009
at
1:18 am
I've had several of those cards. It's super easy to use all the money on them and not be able to pay back, especially if you are out of a job or between employment. Before you get any card and start using it, be sure that you can repay. Or, even have the money set aside to pay and then dip into that fund to make payments. Perhaps that would help improve credit since future creditors would see that you have paid regularly.
Posted on
March 23, 2009
at
6:05 am
I always heard the best way to gain credit is to pay credit cards off quickly!! Even if you do take out a card with a low limit if you cannot afford to pay it back this will damage your credit. But if you have done the calculations and you can afford to then go ahead.
Posted on
March 23, 2009
at
8:12 am
That's a good idea! Furthermore, they have a lower spending limit so that obstructs you from spending over budget and going broke. So, in a way, it gives you a good credit score.
Posted on
March 23, 2009
at
8:19 am
Even a small credit card that you can only use at the gas station can hurt your credit if you are not careful. Again, it is an easy way to pay for gas, snacks, etc. and then something happens and you are unable to pay. The best way to improve your credit if you are in debt is to pay for everything with cash and pay down on some of your current debt. Adding another card to your current debt is a bad idea!
Posted on
April 5, 2009
at
9:31 am
I don't have any idea on a gas station credit. Here in our country, we still don't have these type of credits.
