i was told from a lender that with my credit being 579 that i should have no problem?

Question

geting a credit card.but i am.does anyone know where i can get one with no problem? and also a lot of them want you to have a bank account and i dont.

Answer 1

having worked in credit industry for years ys you can gt a card but start out small.stores like macys pennies,sears. when you fill out app dont leave any area blank. cards companies point score for each catagory so even if you dont have acct mark off that you do. upon getting account, make mim more than they are asking for and your score will increase, payments are graded on the amount you send over the mim..you can also apply for a secureed card which means you pay a deposit to the account when opened, they will see how you maintiain the amount of credit given to you before increasing the line. also you want ot pay attention to your rate. anything over 14.90 for firest time card holder is high, remember when you revolve a balance it is assested by the rate every month for your f/c charge. so the general rule of thumb is what ever you charge that month try to pay off in full the next month, and as i said before you will see your score increase...be cautious though it gets real easy to live beyond your means with the simple swipe or signature.

Answer 2

The fact is at some point nearly everyone has to borrow funds (to buy a house etc.) so if you want to save tens of thousands of your hard earned dollars over your lifetime its imperative that you improve your credit. Contrary to another poster, there are many additional reason why you should work on improving your credit: Most employers will check your credit when applying for a job, insurance companies use your credit rating to price your premiums etc....so put credit repair at the top of your list of things to do over the next few years.

With a score of 579 your chances of getting an unsecured card from a major institution are pretty slim. I would suggest you consider either getting a secured card from a major institution or consider a card from a second tier institution like Orchard Bank who will most likely offer you a small unsecured line or a partially secured line. Whichever route you choose do not carry a balance on the card...pay it off every month.

Answer 3

I do not mean to insult you or be disrespectful, but with that low a score the only credit card you will be able to get will have a very high interest rate. Unethical lenders will take advantage of your situation and charge you usurious interest rates because they know you have no choice. You're better off waiting to get a credit card until your can raise your score by paying off debts and paying your bills on time. Try to get a bank account - that way you can get a debit card to use for convenience. It's a good place to start. Good luck.

Answer 4

I would suggest not using credit. You will save a lot of money and hassle by buying what you can afford with the money you have, rather than using credit cards.

Also - the main reason one needs good credit is simply to get more credit cards. If you don't use credit cards at all, you don't have to worry about who will give you one and who won't.