Poor Credit Unsecured

August 9th, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
Poor credit unsecured loan?
Hello, I am searching for a loan via a straight forward place where I may take out about a thousand dollars but not a payday loan and someone where they would take it out monthly and purely an online loan. I currently have pretty poor credit from years back. Does anybody out there know of anyplace I can turn to and please no scam sites. Thank you

Answers:
It seems like your parents might not have had the talk about the facts of life with you, so here is just one of those “facts of life”: In the current economy, a very small number (if any) of reputable lenders are going to give out a poor credit unsecured loan, even for $1000. One main reason, obviously, is that you have a bad credit history that has supposedly not been displaced by any recent positive credit. Also, even though it’s only a thousand dollars (not considered a very big loan anymore), most lenders don’t issue these loans because they are not profitable. Respectable lenders are limited in the total amount of interest that they will charge, and you just do not earn enough income on a $1000 loan to pay for expenses as well as risk.
What you could probably be able to do is borrow using some type of collateral such as your car, your home, etc. Or borrow from a member of your family, if you are able to.
I am not sure about the online loan services other people have recommended. I would beware of these. They are surely not in the business of losing money, and poor credit unsecured loans are pretty risky, so be ready to pay a very high rate of interest if you are accepted by one of these lenders.
If you do succeed, pay your debt on schedule. This is the one sure way you can overcome a bad credit history. That happens to be another “fact of life”.

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Credit Cards For People With Bad Credit

August 1st, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
What about credit cards for people with bad credit?
Are there any other credit card companys other than continental finance, first premiere, tribute or orchard bank that assist in giving credit cards for people with bad credit? I don’t wish to have a secured credit card. I own a tribute card and have been making payments on it in time for 5 months now and want to get another card with a company aside from the ones listed above.

Answers:
If you wish to have a good credit card for people with bad credit, you will just have to wait.

The ideal thing that you can do is work on repairing your credit, as well as rebuilding. My prediction is that you have problems which you have not handled.

Work on fixing these, while you begin new accounts.

Secured accounts aren’t great, but they are one way to re-establish credit. You have additional options, however my guess is that you don’t have any money on hand.

Compare the credit cards for people with bad credit based on various factors such as APR, monthly or annual finance charges and if it is at all possible for you to get an increase in credit limit once in a while.

See if your credit card giver sends your credit reports every month to the many credit bureaus. By doing so, your credit card issuer is assisting you in improving your credit standing. Most credit card issuers contract three credit bureaus but some of them report to around four credit bureaus.

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Business Credit Cards For Poor Credit

July 31st, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
How to obtain business credit cards for poor credit?
How do I get my business credit built if my credit rating is less than perfect?

Answers:
A real business credit card is a line of credit which is taken in the name of the business, basically under your business’ credit. Transactions, whether good or bad, are reflected on the business’ credit history report via D&B and other financial companies, and the liability for any debts created and bills owed is connected to the business. On the other hand, some companies out there issue business credit cards for poor credit which they need a person guarantee for. These companies will often ask for a personal guarantee, and will generally always ask for you to provide them with a social security number from the individual applying for the card. If this is the situation, the credit card is no longer a business credit card, but is merely a personal credit card which is used in the business. The business is not responsible for bills and debts – now you are. When sending applications for business credit cards for poor credit for your business, look out for areas asking for you!
r SSN (and not your EIN or TaxID) and be wary of all credit cards that request a personal guarantee of you. By verifying that your credit card is under the name of your business, you may help to establish your business’ credit, while getting away from creating problems with your own.
A lot fo companies offer a collection of credit cards that are given under the business name only. Those lists generally run three hundred to nine hundred dollars, depending on the quality of the details inquiring. I would recommend starting your search online through google or yahoo. Type in “strong business credit” to locate services that sell the details
Best ofluck

You should attempt to get a secured card.

By admin

Poor Credit Card

July 21st, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
Is it true that I am not able to get a credit card due to my poor credit card rating?

Answers:
No sir. That is absolutely false. You are still able to get a poor credit card despite your bad credit history. You will be subjected to nasty and persistent rumors regarding credit cards. And I think you will still encounter other similar credit card lies in your lifetime.

A prepaid card trumps over credit cards specifically if the owner does not have a great credit history.
The rejection is not real in the case of prepaid credit cards. There aren’t any credit checks, no job verification, and acceptance is guaranteed.
With a bit of diligent research and comparison of many prepaid credit card offers, it is not hard to find a prepaid card without any annual fees, no repayments, no late payment fees, and no penalties at all. Therefore, the maintenance costs of a prepaid card can be discarded.
With a prepaid credit card, it is quite easy to promote financial control. Seeing as how you can only spend what you currently have, there isn’t any overspending, and thus no debt.
Some companies that prepaid credit cards do report their usage to the big credit bureaus and thus are a good instrument to re-establish poor credit card history.

You can obtain a poor credit card, but you may need to try very hard in getting it approved. Nobody is going to lend money out if they believe that person will not pay it all back. Furthermore, if you do obtain one, your interest rate is going to be very high.

you may get the odd one but it will be very high interest, so you need to build your credit rating up, but it is funny, since if they do not issue you a credit card, you will not be able to do this

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Bad Credit Card

July 17th, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
Where to get a bad credit card?
I currently have bad credit from hospital bills. I’m searching for a credit card to rebuild my credit with no fee every year. I tried Visa salute, but they asked me to give them twenty dollars up front. I’ve searched a lot of sites online and on newsgroups. So if anyone can come up with a great answer, I’d love to hear it. I’m tired of going to awful websites and getting nothing. Thank you.

Answers:
All right, I’m really not trying to be a jerk about this, but if you can’t send in twenty dollars to start a card, why would you expect any credit card company to give you credit? Is it that twenty is too much? Any credit card that you hold a balance of about $100 or higher is going to be a payment on twenty dollars.

I apologize for this answer, I know it isn’t exactly what you are asking for, but I really don’t get your reservation.

To accurately answer your question, if you have damaged credit, you are going to pay a respectively high interest rate, no matter who you get the card from, so remember that as well.

Even though I haven’t had a whole lot of fortune personally with Capital One, they do offer more options than I have seen, and can most likely get you into a card that isn’t a bad credit card. Do not miss any payments, not even by a single day they will strike you with interest rate increase and late fees.

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Poor Credit Cards

July 12th, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
I am currently enrolled in a debt repayment program, and I require a credit card for emergencies, so should I apply for poor credit cards?
I do not wish to have more credit, but I think I require something on which to fall back. Will it harm my credit rating more to apply for poor credit cards like this?

Answers:
It is based on whether you are trying to get an additional credit card to use as emergency money, or to re-establish credit. It seems as though you want poor credit cards as money on which to fall back. I believe this is not necessarily a good idea, because if you have not learn from your history that led you to being in a debt repayment program, then you will be likely to rack up further debt with this additional credit card.

On the other hand, I do not believe credit is bad if it is used correctly. If the purpose you are trying to get a new credit card is to rebuild your credit history since many debt repayment plans close out all your other past credit cards, then I would tell you yes, that is an excellent idea. You will have to establish decent credit to get approved for items such as mortgages. Believe me, you do not wish to be saving up 100 percent cash to pay for a house because that will take forever! Just be certain that you use self-discipline and control so that you do not end up overspending on the card. Only use the credit card for little purchases that you already have the ability to pay for. So if you are trying to build credit, I say go for it. I advise you to not listen to the people that will tell you that credit is all evil, or that don’t need credit because in this time, you do and credit is quite useful to have. You do not need to be a servant to the credit card companies as l!
ong as you are careful, only purchase what you know you can pay back, and make regular payments on your bill in full every month.

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Credit Card For Poor Credit History

July 10th, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
Student credit card for poor credit history?
If I have poor credit and a number of late payments in my credit history, can I apply for a student card or a regular credit card for poor credit history?
Does anyone know how late payments affect the choice of a card? Thanks a lot!

Answers:
You will most likely have a harder time becoming approved for a student credit card. Because student credit cards are strictly for students with limited or no credit history, you could be rejected since you’ve already established a bit of credit and made these errors.
However, student credit cards are far more competitive and with fewer fees. Frankly, I would most likely take the risk of applying for the more ideal offer which is a student card. But if you’re concerned about the DENIAL and the INQUIRY in the credit report, you may want to go directly for a credit card for poor credit history.
The choice is yours.

Late monthly payments are one of the key issues in determining the credit score, along with the percent of existing credit you are using. All of these are larger factors than the remainder of your credit history.
If you do not already own a card, apply for a card but look around. The bank you pick for the card is not important so much as whether or not there are any monthly or annual fees connected to the account. The best situation is to get one that is free, but it can be hard to locate with bad credit.
When you get the credit card, and it should only be one, be sure you pay on schedule and keep the balance under 75 percent of the total limit and you will quickly increase your credit rating and heal your credit history.

You don’t require a credit card to do your things. It is possible to live in this world without building debt. Try living on a smaller budget than you earn and make your life more bearable by being debt free.

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Bad Credit Cards

July 7th, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
Bad Credit Cards?
Does anybody know of a decent credit card? I

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Poor Credit Unsecured Credit Cards

July 3rd, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
Poor credit unsecured credit cards?
My wife and I are searching for poor credit unsecured credit cards. We wish to use it to re-establish our credit and were informed the best way to do it was to obtain a credit card…
Thank you for any advice.

Answers:
Well, it is difficult to get poor credit unsecured credit cards when you have bad credit. However, a secured credit card would be a great investment. My husband got an unsecured credit card about a year and a half ago and then just three months ago he was approved for a line of credit (unsecured).
To bring up your credit score:
The first thing you would have to do is contact the three major credit reporting agencies and ask for a free copy of your credit history report.
Then once you receive those in the mail (it should take about seven to ten days) there is going to be a dispute form stapled to the reports. Fill out those forms for every negative account on your credit report. Fax, mail go on the internet, whatever it takes to get those submitted as soon as possible. Then those companies have to answer your dispute in thirty days or it will be removed from your credit report totally. So hopefully that could get rid of a few things.
After that, be sure you pay each of your revolving accounts to below fifty percent of your credit limits.
Be sure that you put in all your payments no longer than twenty days from the day it is due.

You are better off with a secured credit card with decent fees than poor credit unsecured credit cards with extremely high fees. And no, there is no good credit card anywhere for people who have a record of not paying for their bills. A lot of secured credit lines may be opened with around a three hundred dollar deposit. If you are able to get an unsecured credit card somehow, you are going to pay at least that amount in fees merely to set the account up and you will not see it again, ever.

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Credit Card Applications For Poor Credit

June 17th, 2009 at 12:00am Under Credit Cards and Bad Credit

Question:
Would having credit card applications for poor credit approved improve my credit score?
I currently have a pretty poor credit score, due to my own stupidity as a kid, and this has sadly stuck with me.
On the other hand, I was told that there are a few companies out there that would approve credit card applications for poor credit, such as Vanquis or Capital One.
So a few days ago, i sent an application to Vanquis and have been qualified for a credit card (albeit for a small limit on the card), but I’m just glad I was approved, but what i would love to know, is by just being accepted, would this have increased my credit score? If so, by how many points?
I’ve talked this over with friends and the ideal way to keep my credit score increasing, and they’ve suggested, having the money to buy stuff and then charging the credit card and then paying it back immediately. According to the people I’ve talked to, this will cause my credit scoring to increase tenfold in only a matter of months.
Is anybody else able to help me as to the ideal way to keep improving my credit rating through the use of the credit card?

Answers:
I see quite a few incorrect responses as to how credit works.
First of all, your credit score has been decreased a little because of the hard inquiry put there via the credit card company. It will be placed on your credit report for 24 months. It is going to have less effect as time passes.
Too many denied credit card applications for poor credit can decrease your score dramatically.
Next the urban legend about paying back the balance in full each month is just that, it does not necessarily mean your credit score will go up any faster. Credit card companies will report your money owed at the point the statement was compiled and that you paid on schedule or not. The credit report is still going to reveal a balance owed. I am going to quote what FICO has to say regarding this: “The amount owed on all accounts. Even if you pay off your credit cards in full every month, your credit report may show a balance on those cards. The total balance on your last statement is generally the amount that will show in your credit report.”

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