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I have a full time job with direct deposite making $12.50/hour.

2006-06-20 12:09:00 · 20 answers · asked by Amber 1 in Business & Finance Credit

20 answers

I sure wouldn't lend you any money with a credit score of 200

2006-06-20 12:42:20 · answer #1 · answered by Anonymous · 1 1

Credit scores begin at 300. You need to get a credit report to get your true score as it appears someone has misinformed you. All three major credit bureaus offer a free credit report every 12 months. However, to get your score you will have to pay about 12.95 or so but it is definitely worth it.

Like someone said earlier, try Orchard Bank. Buy something and pay more than the minimum payment on time every month. Don't apply for a whole bunch of cards at one time because a lot of credit inquiries will lower your score.

Try a secured credit card if you cannot obtain an unsecured one. Just type secured credit cards in the search field.

It will take time to build your credit, so be patient.

2006-06-20 12:47:19 · answer #2 · answered by Lamb725 3 · 0 0

2500 Credit Card Limit Bad Credit

2017-01-19 03:25:56 · answer #3 · answered by ? 4 · 0 0

You need a special credit rebuilder credit card.

It is called a "secured" credit card because it is attached to your bank account.

http://www.usbank.com/cgi_w/cfm/creditcards/secured/usb_secured_card.cfm

The U.S. Bank Secured Visa ® Card -
All you need to do is send the bank a cashier's check, a certified check, or a money order with your credit card application (from $300 to $5,000) to open a savings account. Then, once you're approved, they will send you a credit card. Your credit line will be the same amount as your deposit. It looks and works just like any other credit card when you use it at a restaurant or store.

Your deposit is used to open a savings account which assures your credit card can be paid. The money in your savings account is there to "secure" your credit line. The money in your savings account is FDIC insured and won't be touched as long as you make all of your credit card payments on time and your account remains open. Plus, you will earn interest on the money in your savings account.

Your purchases are billed to you each month. Payments are not automatically deducted from your savings account. You are responsible for making at least your minimum payment by the due date each month.

Once you've demonstrated good credit habits with a secured card, you can qualify for a better card.

2006-06-20 18:10:54 · answer #4 · answered by Anonymous · 0 0

This is a tough situation, however there is one possible solution, its worth a shot.

Depending on how quickly you need the money, I know that alot of banking institutions will be a bit more friendly if you have a history of banking with them.

One possible idea is to open a savings account and keep a minimum balance every month of between $500 to $1000 dollars. Do this for 6 to 8 months. Then request a meeting with who ever handle personal loans at the bank. Be very professionally dressed and bring your records of what happened in the past and what progress you have made since then. Banks like to see a record of responsiblity and if you can prove to them that your loyal to your obligations and to them, they might possibly favor you and your current situation

Also, if you havent done so by now, I would recommend acquiring a copy of your credit report and get to work on seeing what you can get taken care of on it.

www.annualcreditreport.com

www.bankrate.com

good luck to you and just stay positive!

2006-06-20 15:55:59 · answer #5 · answered by brad h 1 · 0 0

wow - 200? Considering the Fair Issac score goes from 300-850, then you must be lower than low.

Get a secured line from a high risk lender (Providian, etc). I doubt that you can get a $2500 line of credit, but you can probably start off with a $300.

2006-06-21 12:01:25 · answer #6 · answered by Anonymous · 0 0

You'd be lucky to even qualify for a credit card with minimum credit. But look at Orchard Bank. They offer cards to people with bad credit all the time.

Just go online and type in something like, "credit cards poor credit" or something.



You should also hire an attorney to have your credit repaired - it's expensive, but it can be done. Then, you need to get a low limit credit card and pay off your balance every month for awhile, that'll raise your score.

2006-06-20 12:14:20 · answer #7 · answered by hollisterkj 2 · 0 0

200 credit score???? I don't know if someone actually told you that your score is 200 or if you are just guessing. If someone told you that, quit listening to them.

If you feel your score is low due to bad credit, you desperately need to clean up your credit.

If you feel your score is low due to never having credit before, I would suggest finding someone (in your family perhaps) that will add you as an authorized user to their cards. Be sure that the cards they add you to have an excellent history and low utilization.

That should raise your scores. How much would depend on how many cards you are added to.

If it is from bad credit I would suggest clicking on the link I've provided and learn how to clean your credit up.

2006-06-20 12:41:09 · answer #8 · answered by echo 7 · 1 0

Pawn something valuable. Get a relative to co-sign a loan. Get a lien on your car. Or, gradually fix your credit by paying your bills on time.

You are in a tough spot. This will not be easy.

Beware of credit repair places. They are scams. Credit cannot be repaired quickly (unless your credit report is in error). The only way to repair credit is the hard way, by repaying your bills on time. It is sometimes helpful, though, to consolodate loans.

Consider getting credit counseling.

2006-06-20 12:15:39 · answer #9 · answered by ? 4 · 0 0

If your credit score is 200 you won't be able to get a credit card at all.

2006-06-20 12:12:13 · answer #10 · answered by Joey 5 · 0 0

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