My credit is trashed for several reasons. That recession had several impacts, the house losing 100K in value, not getting a job that paid enough, and a divorce. I got through all of that, paid the chapter 13, have my student loans in good standing, etc. and my credit score is under 600. Ouch. My living situation is awesome but if I needed to move I would be in trouble. After reading a lot I decided I need a credit card. I applied for on through Ally bank where I have my IRA CD's and got turned down. No big surprise. I looked at a lot of cards that help you rebuild credit too. However I decided to go to my credit union that I have been a member of for many years and have a money market that ranges from $3-5K consistently to see if I could get a card with them. I have an appointment tomorrow. I want to try this before the other options.
One tip I read was to get a department store credit card, charge something you know you don't want to keep, make the payment on time, and then after you make the payment return the item for cash and pay the balance down so it looks like you are paying ahead. I am sure there is an easier way than that. I was going to buy things I was already buying and then pay it a little ahead and above the minimum or to zero each time. I think paying off in full is probably better.
Sometimes I get sad, I had a excellent credit score for many years. Things happen,