Starting over.QA I am rebuilding my credit with Capital One and would like to open an account with a bank that specializes in rebuilding credit. I would also like to know how to take advantage of banks that offer low interest rates. In addition, how can I find out about the BLACK ENTERPRISE Financial Fitness Contest? --B. Francis Francis, French prince, duke of Alençon and Anjou Francis, 1554–84, French prince, duke of Alençon and Anjou; youngest son of King Henry II of France and Catherine de' Medici. Washington, D.C. If you are already rebuilding your credit through a Capital One account, you are on the right path. I would recommend not opening any new lines of credit for at least a year. If the creditor An individual to whom an obligation is owed because he or she has given something of value in exchange. One who may legally demand and receive money, either through the fulfillment of a contract or due to injury sustained as a result of another's Negligence won't budge on a better rate after a year of consistent, on-time payments, then start shopping around. Go to sites like www.bankrate.com and www.card web.com, which provide listings for all types of credit cards including no-fee, low-rate, and rewards cards. Once you find a card with a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. rate, consider a balance transfer from the higher rate card to the lower rate card. Keep the original card open-just don't spend on it. Otherwise, you'll be paying on two cards and you won't reap the full benefit of the new, lower-rate card. This plan of action may be a bit much for the novice credit card holder, so educate yourself before you make the first move. Read Credit Card & Debt Management by Scott Bilker (Press One; $19.95). And to get an application for BE'S Financial Fitness Contest, log on to www.blackenterprise.com --Tanisha A. Sykes Mail your consumer empowerment em·pow·er tr.v. em·pow·ered, em·pow·er·ing, em·pow·ers 1. To invest with power, especially legal power or official authority. See Synonyms at authorize. 2. questions to Ask Your Advocate, BLACK ENTERPRISE 130 Fifth Ave AVE Avenue AVE Average AVE Alta Velocidad Espanola (train between Madrid and Seville) AVE Alta Velocidad Española (Spanish: High Speed Train) AVE Audio Video Entertainment AVE Advertising Value Equivalent ., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10011 or send an e-mail to sykest@blackenterprise.com. |
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