No. of Recommendations: 0
My situation is this... While in college I got in over my head with a couple of credit cards, and now my credit report is a bit tarnished as a result. Its been a couple of years since then and I have cleaned up my act. I am now getting solicited for cards which have sky-high APR's and ridiculous annual fees. Although I don't need a credit card, I was wondering if I should accept one of these offers and use it diligently in order to help build my credit back up. I do feel I am responsible enough now to avoid any potential problems, so the APR shouldn't even affect me. The annual fee ($50 or so) is a bit harsh, but it may be worth it in the long run if I can positively influence my credit rating.

Does anyone here know if diligent use of a credit card like that will be worth it? Your advice would be appreciated!

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.