What credit card can I get if I have horrible credit?

Question

I have really bad credit, I kinda want to pay off my credit cards using another card so I only have to actually pay one card, I know it sounds dumb but i need it. So are there any credit cards out there for people with really really bad credit? Like I'm way in debt and late on all my payments...ugh I dunno what to do!!

Answer 1

First of all, call the credit companies you owe money to, let them know you're having trouble paying them back, and usually, but not always, they're willing to work with you. Some of this is because if they resort to a collection agency, the agency typically keeps about fifty percent of what is owed to the creditor. There are also consumer debt agencies that will work for you and try to get your monthly payments lowered, but extended over a longer period of time. Warning: Some consumer debt agencies are scam artists. Don't ever trust one that says they'll immediately improve your credit score.

Second, if you owe thousands and have bad credit, it is highly unlikely any creditor will issue you a card with a high enough credit limit so you can transfer your balances to it. No, the idea of transferring multiple balances to one card is not a stupid idea. I've done it before. I simply don't think you will be able to get a credit card that'll allow you to consolidate your expenses. For in your words having bad credit, I doubt any creditor will give you a card that isn't secured or have an interest rate of 27.99%

Third, anything that costs money for you that isn't essential (I'm referring to stuff like going out to eat, buying name brands at the grocery store when generics are fine, a morning cup of coffee from Starbucks, etc.), should be immediately stopped. If you can save ten dollars a day, you will get out of that financial hole, but it will take some time.

Lastly, stay focused on ways to save money to apply toward your debt. Be optimistic that you have a plan for getting out of debt. And most importantly, know that there are millions of people in the same situation as you, and many more who have successfully turned their debts around.

Good Luck!

Answer 2

If your credit is very bad you will have trouble getting a credit card unless it is prepaid or has something like a $250 limit and $200 in sign up fees. Your best bet is to contact a debt consolidation company. They can negotiate with your creditors for lower finance fees and payments. They may also be able to get your creditors to settle for half of what you owe. Debt consolidation does have a negative impact on your credit but your credit score will go up as you pay off your cards. Make sure you check out any debt consolidation company with the Better Business Bureau. You don't want to get further in debt due to sending your money to scammers.

Answer 3

Don't take this personally.

Your idea not only SOUNDS dumb, it is dumb! You are slowly reaching the point-of-no-return with hair-brained schemes to avoid the pain of "getting your life together".

You have horrible credit! Why do you expect there be some "Angel Network" to give you another credit card because of your good intentions? Why do you expect a financial institution to take a clearly unjustified risk on you right now, when your past behavior demonstrates that there is little to no return on investment?

Take a deep breath and think this through.

You need some guidance. So, it would be best to take your paychecks and sit down with the Consumer Credit Counseling Service and formulate a "SMART" plan to pay the creditors back WITHOUT bankruptcy.

By "SMART", I mean

Specific;
Measurable;
Achievable;
Realistic; and
Time-based

You have to get off the "Credit Card" merry-go-round temporarily and get back to basics -- checks and cash UNTIL you show yourself APPROVED again or at least you are no longer suffocating from debt.

The credit counseling agency will help you to establish a budget to get back-on-track and a payment plan that requires some self-discipline and patience. Just swallow your pride and get some help!

You need to take inventory of any circumstances/bad habits that are leading you down this road, including possibly, lack of education/skills==>non-livable salary, too big of a house/apt, too big of a car, expensive tastes, etc.

Answer 4

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 5

many banks offer a self credit card. thats where you pay money and loan it back to yourself on a credit card with a limit to rebuild your credit. check google for a secured credit card company and youll come up with a slew of them. even a couple of hundred dollar limit will help and if you keep your record clean, in a couple of years you can go back to an unsecured one. good luck

Answer 6

secure credit card!

http://buildyourwealth.wordpress.com/
Moshavnick.

Answer 7

none unless it is prepaid