2006-07-24 03:40:48 · 12 answers · asked by Natasha B 2 in Business & Finance ➔ Credit
On a scale of 1 to 10, how would your rate your credit? How about a scale of 350-850? If you aren't too sure, you might want to check into it. There are plenty of sites online where you can get a "free" copy of your credit report and credit score.
Did you know that scores below 640 are considered poor credit? If you are currently in this category, here's a few tips that may help. If you have pulled yourself up from below 640, see if these tips are familiar. If not, they may actually help push your scores up more!
First, lets talk about time. Time is one of the greatest gifts you have in rebuilding your credit... so don't waste it. By not doing something now, you only make the process longer! The longer you do the right things, the better your scores will get!
Second, if you have simply given up on your credit because of bad things that happened in the past, get over it and get on with life! Your mistakes of the past do not have to dictate your future. Learn from the past and use the right types of credit to build your credit file.
Third, start off easy and small. Don't worry about getting the $10,000 personal credit line right off the bat. It's like deciding to buy a new BMW or Mercedes the day after your old car was repossessed! Start off with a secured loan using your savings account. There are credit unions and banks that will lend you as little as $500 provided you put $500 in their savings.
Fourth, get a revolving credit card and use it properly. Do not max it out. Simply charge a small amount each month and pay it off each month when the bill arrives. This will really give your score a kick!
Finally, take it easy and slow. Don't worry about trying to get from 520 to 780 overnight. It's safe to say your scores probably didn't drop overnight, so don't expect them to raise up overnight either.
Good luck and happy credit building!
(c) 2006 http://www.bestnewcreditcards.com
2006-07-24 03:54:32 · answer #1 · answered by Anonymous · 0⤊ 1⤋
First Premier Bank offers one, you might want to check out their website www.mypremiercreditcard.com. Basically they give you a card with a possible $250 credit line, charge you finance(charged to the card they issue you) fee's up front so that you pay those to build up your credit. Ex. You get approved for $250, they charge your card $150 for fees, you have a card balance of $100 credit until you pay the $150 in fees. Min. Payment is around $20 a month and so far it has been a good card/company to work with. Once you pay off the fees, your balance goes up to $250, then as long as you pay the bill on time, you can earn more credit through them, I think about every 6 months.
2006-07-24 03:48:42 · answer #2 · answered by Anonymous · 0⤊ 1⤋
You can get a secured credit card. You have to deposit the money into the bank before you can use it. After you have it for a while, they will give you credit again. Beware of the high interest rates on some cards, plus any that require an annual fee.
2006-07-24 03:45:48 · answer #3 · answered by Okkieneko 4 · 0⤊ 0⤋
Absolutely! It's called a Secured Credit Card
(You deposit an amount into the Financial Institution of your choice and they'll give you a card which has a credit limit of about 50% of your deposit.)
2006-07-24 03:44:39 · answer #4 · answered by Audio God™ 6 · 0⤊ 0⤋
For Finance and credit solutions I visit this site where you can find all the solutions. http://SMARTFINANCESOLUTIONS.NET/index.html?src=LCKTGi92LMv
RE :Is there a Credit Card for people with Bad Credit who need a Second Chance?
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2016-10-05 20:13:36 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I'm in the same boat and i have yet to find one,it takes 7 yrs for your credit to be at 0 again.so it shows up as if you were a 1st time appliar but 7 yrs is a while,im waiting.
2006-07-24 03:45:20 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Have you ever thought about why you have bad credit? Most likely it's because you can't control your spending. Instead of getting another credit card and get further into debt, pay off the debt you have and never get into debt again.
Scott.....
2006-07-24 04:59:19 · answer #7 · answered by Anonymous · 0⤊ 1⤋
I got one through Household Credit.
2006-07-24 13:10:05 · answer #8 · answered by PMS 24-7 3 · 1⤊ 0⤋
We started over w/ Capitol One Platinum...that is the best
2006-07-24 04:26:19 · answer #9 · answered by maharet 6 · 1⤊ 0⤋
Yes, most of them require a security deposit though. Below is a site that came up when I did a search.
http://www.creditcard321.com/badcredit/
2006-07-24 03:43:43 · answer #10 · answered by dolphin2253 5 · 0⤊ 0⤋