March 18, 2018

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Credit Cards for Poor Credit Scores

Take Charge of Your Credit Score


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Credit Cards for Poor Credit Scores

Overspending, a week economy and a startling number of bankruptcies have many consumers licking their wounds. Starting over financially is no walk in the park but is a necessity to get back on your financial feet. The game plan now is to show creditors that you can be responsible in a number of ways but how should you get started?

Obtain a Credit Card

This may be easier said than done. Many lenders will reject applications for credit from those will poor credit. But that doesnít mean youíre out of options:

  • Prepaid Cards are one option for those unable to qualify for a credit card. Essentially they work independently from your credit score and do not impact you positively or negatively on your credit history. The basis of a prepaid credit card is that, for a fee, you may ďloadĒ the card in advance via a cash payment and then are able to use it as needed. Again, prepaid card companies will not report your responsible spending to reporting agencies but will help you learn to stay within your budget and get you into the habit of only spending what you have available.
  • Secured Credit Cards are similar to a prepaid card but do work in conjunction with your credit score. Typically a customer is able to obtain a secure credit card via a cash deposit. After several months of making monthly payments and staying within the credit limit, a secured credit card company will often issue a line of credit that is more similar to an unsecured credit card.

Donít Over Apply

Simply enough, if two or three credit companies have rejected your credit card application donít continue with more requests until your credit history improves. Each time a credit check occurs you potentially impact your credit score. If you canít get a credit card today but need access to a Visa or MasterCard, start with a prepaid card where credit score is a nonissue. This will get your through the rough period and help create responsible spending habits.

Establish a Payment History

Once youíre able to gain access to even a very small line of credit treat it with the upmost importance. Demonstrate that you can make monthly payments on time each month and spend only within your credit limit. This practice done consistently will eventually earn you a larger line of credit at cheaper interest rates. Payment history is one of the top contributing factors to your credit score and is a large factor is gaining the approval of future lenders.

Unfortunately you canít wave a wand to magically place an unsecured credit card into your pocket. But there are options out there for those with damaged credit. If youíre having trouble obtaining a credit card look for prepaid and secured options until your payment history improves.

How to Get the Best Credit Card with Bad Credit

If your credit isn't in tip-top shape, and you want to work on building it, you may be wondering if you can even get a credit card in order to do so. Yes, your bad credit is going to stonewall for getting a premium credit card. But, unless your credit ...

Published:  Fri, 16 Mar 2018 12:44:00 GMT

Best Credit Cards for Bad Credit

Advertiser Disclosure: The credit card offers that appear on the website are from companies from which this site receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they ...

Published:  Wed, 07 Mar 2018 10:40:00 GMT

9 Ways to Build Credit Without a Credit Card

Credit cards are one of the best tools around for building credit ... Taking on student debt just to build credit is a bad strategy. Peer-to-peer (P2P) loans are made by individual investors instead of traditional financial institutions, with the accrued ...

Published:  Fri, 09 Mar 2018 11:19:00 GMT

Think before you lend your credit card to others

The credit card issuer generally doesn't care who uses it, as long as the bill gets paid by someone but card sharing increases the risk of a bad outcome. Many people do share their credit cards without incident, especially with family. Approximately 30% of ...

Published:  Thu, 15 Mar 2018 05:37:00 GMT

Americans Are More Likely to Track Their Weight Than Their Credit Card Balances

So if you've been charging up a storm without putting much thought into it, it's time to change your ways. Credit cards tend to get a bad rap because they lead to debt scenarios that can hurt consumers. But the fact of the matter is that if you use your ...

Published:  Sun, 11 Mar 2018 06:36:00 GMT

Can Bad Credit History Affect Chances To Get The Job

Do not panic, bad credit history can be improved if you apply for one of the top 4 secured credit cards to rebuild bad credit and then manage to repay the balance on time. How Credit Score Can Influence Employer's Decision Looking through your credit ...

Published:  Tue, 13 Mar 2018 08:28:00 GMT

What Happens If I Have A Toys "R" Us Credit Card The Store Closings Have So Many Effects

In general, though, what happens to store credit card holders when a company goes out of business Hate to bear bad news, but you will still have to make payments on any debt. "Almost always, the outstanding credit card balance is still outstanding ...

Published:  Fri, 16 Mar 2018 09:56:00 GMT

A Quick History Of Slow Credit Cards

More passengers meant longer lines. And that was especially bad because this was the era when customers paid for their tickets right there at the airport - often by credit card. Back then, paying by credit cards was a whole ordeal. The airlines had to ...

Published:  Thu, 15 Mar 2018 08:17:00 GMT

Top 6 Credit Cards For Bad Credit in 2018

These credit cards have either a low on-going interest rate, low introductory interest rate, or low on-going fees. Most of these cards also have reasonable rewards programs and additional card perks. Rewards are one of the most requested features in credit ...

Published:  Tue, 13 Mar 2018 08:23:00 GMT

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