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2 Bumps

Which gas card should I get?

My credit sucks thanks to my divorce and my ex-husband. I would really like to change that. I recently got a car loan (had to have a co-signer since my credit is that bad). The finance guy told me that making my payments on time every month will improve my credit. He also told me to get a gas card, pay off the balance every month and in 6 months, my credit will be much improved.

Is this true? Which card should I get? And does it matter if I set up the car payments to come out automatically?


Asked by tempsingl3mom at 8:26 PM on Apr. 16, 2013 in Money & Work

Level 26 (27,595 Credits)
This question is closed.
Answers (5)
  • It's true, and it won't matter if you set up the payments to come automatically. The key is to be consistently on tme. Once you have a gas card and have kept up with the payments, you'll probably be offered credit cards from stores like Kole's or Target. I you get one or two and pay on time, then you'll move up to mainstream credit cards. I didn't have bad credit after my divorce; I had no credit at all, which is just as problematic. I had to get my parnts to sign with me so I could have my phone and electricity turned on because I didn't have the money for the deposits they wanted. Slowly I built my credit up from zero, and it's good now, but I think a lot of women who don't have any accounts or bills in their name are at a serious disadvantage if their marriages don't work out, and they don't even know it.

    Answer by Ballad at 8:31 PM on Apr. 16, 2013

  • Buying the car alone will build your credit, just bypass the card and pay for your gas, one late payment, or one not full payment will offset the benefits, you are doing the right thing cash only is the way to go, and trust me I have been there, we now live only within our cash means, we can get a car loan, home loan, etc. Having NO debt (creates credit score) is better than having DEBT.
    I don't agree with everything he says, but you should check out Dave Ramsey, I don't think you need to be to the extremes he is but check it out.

    Answer by jerseydiva at 8:34 PM on Apr. 16, 2013

  • I agree with JD on this one. Also, you'll find that most gas cards are now "owned" by major banks and are not any more likely to approve you than Citibank would be.

    Dave Ramsey has some good ideas that really helped me figure out how money works and how to build my financial world up

    Answer by Mrs_Prissy at 8:41 PM on Apr. 16, 2013

  • I'd skip the card and just make the car payments on time

    Answer by charlotsomtimes at 8:52 PM on Apr. 16, 2013

  • Setting up automatic payments will help ensure that you make the car payments on time. Don't bother with the gas card, unless you want to be paying the higher prices generally found at the stations taking those cards. Cash & carry. You can also check your creidt report and write a letter of explanation to go with it.

    Answer by gdiamante at 1:36 AM on Apr. 17, 2013