Nov/110
Credit Cards For People With Very Bad Credit History
Credit cards for people with very bad credit are difficult to get, but they can be acquired with a bit of effort on your part.
Now, if you have less than stellar credit, you are going to have problems getting a card from most credit card companies. This is because with credit history that’s in the red, you represent a significant risk for them.
This means it’s a challenge to get such a card. You can still apply online for an unsecured credit card with poor credit history, but you probably won’t get accepted – if you do, you will be give a card with VERY high interest and many restrictions placed on it.
The key then is to look at getting a secured card. Secured cards are great for many reasons – mainly you can use them to help rebuild your credit history and they are very easy to get.
The way a secured card works is that when you apply for one, you put a deposit down that becomes the card limit. Since you are essentially “paying” for the credit card, you stand a VERY good chance of getting an unsecured card with bad credit.
Indeed, if your credit history is poor, you will probably only be able to get a secured credit card for people with very bad credit.
Before getting a card like this, you need to look around online for the best credit card for people with poor credit. Companies offer different interest rates, so it’s best to get the lowest interest rate secure card you can find.
Jul/100
Credit Cards for No Credit History
You may be one of the fortunate or unfortunate, depending on how you look at it, that does not have any credit. In some cases, having no credit is just as bad if not worse as having bad credit. Usually these are young people, students or divorced or widowed women that had joint credit with their husbands. So what do you do when you want or need a credit card?
Ok, I know, no one needs a credit card. It is always good to have one credit card for emergency purposes. And the good news is that even if you have no credit there are options available to you to get credit cards. One option is a secured credit card. Yes, they do not sound fun, secured means that you have given the company money, and they are basically holding it for you until you use it. Your limit is usually set by the size of your deposit. You still need to make sure that you are making your payments, on time each month or the credit card company can take the money you have in savings. Make monthly payments on time and you may be able to switch to an unsecured credit card.
Apply for a gas card with your gas station. Those are usually easier to get then a credit card. Make sure that you make your payments each month to build you credit. Lenders not only want to see that you have credit, but they want to make sure that you are going to pay your bills as well.
Go to your bank and make sure that you have a checking and savings account. Talk to your bank and apply for their credit card. Usually having a good relationship with you bank can help you get credit when you need it, even if you don’t currently have it. The smaller the bank the better, little credit unions and local banks are more helpful then big national companies where you are just a number.
Your favorite store can also help you get a credit card. Make sure that the department store reports to the credit bureau, if it doesn’t then the credit card is really not going to help you establish a credit history.
Keep in mind that paying your bills are not the only thing credit card companies look at. They want to see how often you move and how steady your income is. These play a major role is whether or not you get a credit card.
There is hope for people that have no credit and want credit cards. You just have to know what the credit card company is looking for and apply only to those that you think will accept you, because getting rejected for credit can hurt just as bad as bad credit.