where can I get a credit card for a fica socre of 583 that has a credit limit of at least $1,000??!!?

Question

they are too many lenders that prey on people that have a low fica score by charging way to much of annual fee, intrest, etc., and in return just give them a credit limit of less than $200.00 to start. Thats not right, it should be at least $1,000 to prove they can handle it. The $200 will not cover the cost of the up front annual fee, etc. Give me a break......please!!!

and people like chadm, donkt bother with your imature commments. you can have bad credit to medical bills that are astronomical that even Mr. Trump would have a hard time paying.

so heres to you Chadm; stop by my place and lets see who gets burned smart ***

Answer 1

Man, please.

Give the lenders a break! You have bad credit, so the lenders are milking through ridiculously low limits and excessive fees to cover that credit risk.

If you get your FICO score to where it should be in the first place (in the 650's) and demonstrate stability, financial responsibility, and good money management practices, you will notice a dramatic change in the quality of credit card offers you get.

Right now, you have a below average credit score, so that is exactly the kind of credit card offers you are getting -- below average and lackluster.

Fix the problem -- your credit behavior -- for the next 24 months and the lenders will treat you with the dignity, respect, and credit card accounts you deserve.

It really is as simple as that.

Answer 2

I would speak to a rep at your own bank or credit union first before looking at large national lenders such as Chase or HSBC. Most banks/credit unions have different types of cards that may or may not have annual fees (anything about $25/year is too much). If you have good history with that lender they may occasionally look past your lower score or negative history with other lenders and still approve it (pending your work history is consistent and your Debt/Income ratio shows that you can afford an additional obligation). With a 583, you may be able to get a limit of $1000 but have a high interest rate such as 18-22%. The reason lenders charge higher interest rates for lower FICOs is because Lower FICO=High Risk. The lender will get more interest back during the time you are using the card and ultimately the extra interest it received during that time would help mitigate any losses they take if you were to file for Bankruptcy. Best of luck.

Answer 3

With fico scores that low, you will not qualify for that limit.

You might(?) possibly be lucky to get an unsecured card with Orchard or HSBC with that score. But, they will start you out at a $300 limit, high interest and a yearly fee. Plus, trying to get credit limit increases from them is like pulling teeth.

You would be better off getting a fully secured card from Bank of America. BofA will grow with you, Orchard and HSBC won't.

I would recommend staying away from the truly subprimes - like Aspire.

You might want to go to the site I've listed and do some reading. Start in the newbie forum and then in the credit forum. Learn how to deal with the baddies on your reports and how to rebuild your credit.

Answer 4

Try Orchardbank.com or Capitalone.com for unsecured account. Cap One gave me $1000 to start.. Orchard Bank (Household Bank) gave me $500, but upped it to $1000 after one year. There are lots of banks that offer "secured" cards. A lot of people have bad things to say about Capital one, but I've found them most accomodating after my BK 4 years ago, one of the few companies willing to give me a CC at a "decent" rate of 14.9% and not a loan-shark rate. In the end, your FICO is not the only thing that determines whether you'll get a CC or not. If you have a lot of collections, late pays etc on your credit report, don't count on more lenders stepping up to the plate. Good luck and let us know how it turns out.

Answer 5

Your first step would be to improve your credit score, as unfair as it may seems those are the facts of credit card companies. they won't show you the money unless they think you are credit worthy.

Here are some things that you can do to improve your credit rating...

Pay your bills on time.Delinquent payments and collections can have a major negative impact on your score.

If you have missed payments, get current and stay current.
The longer you pay your bills on time, the better your score.

Be aware that paying off a collection account will not remove it from your credit report.It will stay on your report for seven years.

If you are having trouble making ends meet, contact your creditors.This won't improve your score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.

Keep balances low on credit cards and other “revolving credit”.
High outstanding debt can affect a score.


The most effective way to improve your score as far as your debt, is by paying down your revolving credit. Owing the same amount but having fewer open accounts may lower your score.

Don't close unused credit cards as a short-term strategy to raise your score.

Don't open a number of new credit cards that you don't need just to increase your available credit.This approach could backfire and actually lower score.

If you have been managing credit for a short time, don't open a lot of new accounts too rapidly.

New accounts will lower your average account age, which will have a larger effect on your score if you don't have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user. Do your rate shopping for a given loan within a focused period of time.

Re-establish your credit history if you have had problems.
Opening new accounts responsibly and paying them off on time will raise your score in the long term.

Note that it's OK to request and check your own credit report.
This won't affect your score, as long as you order your credit report directly from the credit reporting agency or through an organization authorized to provide credit reports to consumers.

Apply for and open new credit accounts only as needed.
Don't open accounts just to have a better credit mix - it probably won't raise your score.
If you do have any more questions please let me know.

Have credit cards - but manage them responsibly.
In general, having credit cards and installment loans (and paying timely payments) will raise your score. Someone with no credit cards, for example, tends to be higher risk than someone who has managed credit cards responsibly.

Note that closing an account doesn't make it go away.
A closed account will still show up on your credit report, and may be considered by the score.

Answer 6

you can try with Orchard credit cards...however don't count on getting a $1,000 credit limit. Remember that if you have a low FICO there will be very little credit card companies that would give you a credit limit unless you are with them for 1yr or more and that you make your payments on time

Answer 7

About the only place I know of is Orchard Bank. But I don't think they will give you a credit limit of $1,000. The most they might give you is $500.

Answer 8

You have a history of not paying your bills. Why should someone else extend you credit. They do not want to get burned like you have burned everyone else.

Answer 9

check these links, you might even find a better card but there's plenty of advice throughout if you have time to read:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!
if it helps please remember me cheers