Credit Cards For Bad Credit
Posted by admin on November 24th, 2009 at 04:51pm
Question:
Credit Cards For Bad Credit?
If I can’t obtain a loan with a credit score of 430, do any of you where I can get credit cards for bad credit?
Thanks a bunch!
Answers:
If your looking to build or rebuild credit with bad credit, try applying on the internet for the following credit cards for bad credit. On the other hand, there are annual fees involved, but they are simple credit cards to obtain for a bad or no credit situation: First Premier Bank, Orchard Bank
Even though Capital One is easier to obtain if your credit isn’t great, the major downside with them is that they don’t properly report your account with the credit bureaus. They report the balance at the moment as your credit limit instead of the exact credit line, so it won’t help your cause to try to establish credit if it’s not going to report properly. Orchard Bank is a pretty decent place especially if you’re beginning or starting over. An additional option would be to open a credit card that is secured. Your bank may offer them. You would have to give them a deposit first to get a credit limit of the same total of the deposit. You can look at this as accumulating credit with a savings account because the deposit interest increases just like a savings account. It would help to raise the limit once in a while so that it would look more improved on your report with a high limit as long as you make regular payments on time, and either keep the balance down or paid off in !
full, commonly after a year you get the deposit back with interest and either the card changes over to an ordinary card or a better card is offered. If you increased the limit during that time, the high limit like I said will look like a big improvement on your report. I put up links to some secured credit card sites, including First Premier Bank.