Credit Cards For People With Poor Credit
Posted by admin on January 26th, 2009 at 12:00am
Question:
Do credit card companies issue credit cards for people with poor credit rating?
Hello everyone,
I have just sent in a credit check and I am currently waiting to hear back, but just out of suspicion, I was wondering how poor my credit rating actually is. i have been getting credit card offers in the past from popular companies with 2.5% interest.
Would they issue it to me if I had a poor credit rating or would they just send these to all people on their mailing list?
Thank you for your help.
Answers:
Yeah, you will get them but if you believe you will receive an American Express or one of the other big ones, dream on. You will also get rejected when they do your credit check.
Hello,
Yes, sadly these companies do send them to all people, or at least most households. Some companies will issue you a ‘guaranteed’ product message if you have held an account through them for a period of time and they realize that your credit rating is fine. For instance, if you have had a bank account through the Halifax for a few years, typical wages being credited, never in overdraft or kept within limit if you have an overdraft, resided at the same address for over three years, then they have a pretty decent view of your personal credit history. It is probable they will have checked your credit score prior to sending out a guaranteed product letter, thus their confidence in issuing it to you.
If you obtain a bog standard offer from any company and put in an application for the product, they will then check your credit score and if your credit rating is bad, they will reject the offer. It is stupid, I know, but never just assume that since you have received an application that you are going to be offered that product.
I hope this assists you.