So your credit’s kind of iffy thanks to your poor spending habits. The recession has taught many people to opt for cash purchases over credit card purchases. However, if you need to build your credit standing, taking care of your credit card can help you re-establish your credit. WSJ offers this great advice on rebuilding your credit.
One great way to use a credit card without risking huge unpaid balances and huge interests – gas cards. These are credit cards that you can only use with gas stations to buy gas. Unlike your regular credit card, to which possibly most of your monthly purchase are charged, you’d only be paying for gas with a gas card.
And they also offer great incentives as well. Some gas cards offer discounts on a per-gallon basis. Some would even allow you to earn points from gas purchases which you can use to redeem “rewards” like airline miles. A caveat though, these cards often have a higher-than-average interest rate.
And they can contribute to building a decent credit history as long as you make timely payments. After a year establishing a good credit, you’d be able to apply for a regular credit card using the brownie points you’ve earned from the gas card.
