My friend has a really bad credit record from stuff in her past and needs to get a credit card, but doesn't want one that you have to put your own money down first. In Canada please.
2007-01-22 06:16:58 · 6 answers · asked by hasgr8boyz 3 in Business & Finance ➔ Credit
i think it would be best if she did consider the secured credit card,,, yes its work to save up the money for it,,,,,, but its really the best,,,,,,, as the other ones, most all i have seen, will charge you high yearly fees, a monthly fee, an activation fee,,,,,, so while you get an initial credit line, almost half of it is used up in the initial fees you are charged, which you must pay or get charged interest for,,,,,, its just not worth it,,,,,,,,,if she wants a credit card to be able to use online,, check out some of the debit cards you can get nowdays,,,,, while you still have to put money on the cards, they will work the same as a credit card online,,,,,, and the money amount is not large
2007-01-22 06:22:34 · answer #1 · answered by dlin333 7 · 1⤊ 0⤋
tell your friend to go back to basic school and learn what credit is. she has bad credit....meaning she hasn't paid her bills on time like a RESPONSIBLE person.
WHY would anyone want to loan her more money? She won't pay it back. Even if she says she will pay it back...she won't....the past debt of bad credit is proof enough cause she hasn't even paid that off. This is why bad credit people are stuck with credit cards that aren't really credit cards but just advanced debit cards in amounts of what they deposit.
Credit is life.....and this is a perfect example of why you don't destroy it.....cause you never know when you need it. Best thing they can do is forget this new credit card, forget what they want to buy, forget most everything they have and start planning a new life that has 1/2 of what they currently have.....work harder, pay off all on their credit report and then....after some time.....they can start to rebuild good credit.
Bad credit will never leave you till you pay it and the longer you don't pay the items on your credit report.....the deeper the hole gets. A few dollars towards money owed is always better than none. Cause most will report on your credit report that you are trying to pay it back. No payment and you are listed as a dead beat.
2007-01-22 06:26:10 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Stuff that caused the bad credit has to be cleared up first. Get a copy of the credit report. Contact those creditors who have made entries and make arrangements to pay them off. Then get another report to make sure that all issues have been resolved.
Then and only then can you get another credit card.
In the meantime you will have to live with a debit/Check card on an existing account.
If bankruptcy has been declared (causing creditors to get little or nothing) you can just about kiss credit goodbye for 10 yrs or more.
2007-01-22 06:25:18 · answer #3 · answered by busterdog 2 · 1⤊ 0⤋
Sounds like your friend really needs a credit card, tell her to get a job and to not spend money she doesn't have. It will be the best advice she has ever heard.
2007-01-22 06:20:33 · answer #4 · answered by Anonymous · 0⤊ 2⤋
no - if you have bad credit, they shouldn't risk retailor money on you. Get a job.
2007-01-22 06:19:38 · answer #5 · answered by M S 4 · 0⤊ 3⤋
go to www.firstpremierebankcard.com, they usually approve anyone, as long as you have a checking account.
2007-01-22 06:19:45 · answer #6 · answered by Ashley 1 · 0⤊ 1⤋