I have a plan... Tell me if this will work?

[NASCAR20FAN]

Ok I finally broke down and got a credit card do I can start rtebuilding my credit. What I would like to do is mainly use this card to buy my lunch at work. (I normally eat out once or twice a week). Keep this new card open unitl I can qualify for a card with a lower rate and do a balance transfer.

[FilingOnMyOwn]

It will work... but you're saying you would charge up your lunches to not pay them in full, then do a balance transfer? Why don't you just use whatever cards you get and always pay in full?

[NASCAR20FAN]

It will work... but you're saying you would charge up your lunches to not pay them in full, then do a balance transfer? Why don't you just use whatever cards you get and always pay in full?

when I do the transfer I'll have some balance LOL

[djk]

depends on what the present card is. if it is one of those that charges around 200 bucks a year in fees and only has a 300 limit it probably will not be looked
upon too favorably by any card actually worth having that does not do the same thing except with perhaps a high limit. It's going to take awhile to rebuild and if you jump on the predator cards early on in the hopes that they
are going to speed up the process to obtaining a decent card with a decent rate you wll probably end up surprised. In any event, good luck and keep us posted on if your plan actually works.

[NASCAR20FAN]

depends on what the present card is. if it is one of those that charges around 200 bucks a year in fees and only has a 300 limit it probably will not be looked
upon too favorably by any card actually worth having that does not do the same thing except with perhaps a high limit. It's going to take awhile to rebuild and if you jump on the predator cards early on in the hopes that they
are going to speed up the process to obtaining a decent card with a decent rate you wll probably end up surprised. In any event, good luck and keep us posted on if your plan actually works.

Yeah, it is one of those cards! I don't plan on doing this for a while though. I can get an increase in 6 months so I'm not going to jump ship for at least a year.