Bad Credit Card

Greeting all, I was told by someone that after afew years of having bad credit card, it will be removed from credit report. Is this true? If yes, how long?

Thanks

It will be removed seven years from the date that it occurred. If you check your credit report then it will tell you the month and year that it will be removed. Oh, by the way, you are in titled to one free credit report from each credit agency every year. Here is the link below to do this. Also, it is a good idea to monitor your credit reports. If you find anything suspicious report it immediately.

http://www.ftc.gov/bcp/conline/pubs/cred it/freereports.htm

2006-08-20 10:40:37 by alyabis

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I am trying to consolidate my bills and get my credit clear so I can start a business.I have very,very bad credit and I am tryiing to start a business. How would I get a credit card for my business with extremly bad credit. And who will except me?

It's all tied to your social security number. Business doesn't matter.

Before you do ANYTHING listen to this. Scroll down and click "Listen to Dave". JUST LISTEN.
http://www.daveramsey.com/tdrs/index.cfm /2007/9/17/Getting-rich
This one audio clip of his CHANGED MY LIFE when I heard it.

Listen to this man for free, on the radio or online. This is like getting financial wisdom from Bill Gates except this guy has a national radio show.

2008-01-06 02:39:48 by raymond m

I have no credit, and my buddy has bad credit. We are going on a trip in a few months and need to apply online to get a credit card. Mastercard or Visa. Anyone know where?

Try http://www.applyforcarloan.ca/apply_onli ne_secured_credit_card_mastercard_canada .php
They offer what is called a secured credit card. Basically send them $500 or more, and they send you a Mastercard, with the same limit. 99% of people get approved for these types of secured credit cards. They still require you to make payments when you use it, but the great thing is it will build new credit, or rebuild bad credit!

2008-06-09 21:10:15 by Darren S

I working at home because I am disable, the only way I make money is building a website to earn money and all my money go to the bank, i do not get paystub but cash because it been deposit in the bank, i want to get an credit card but I have bad credit, i will like to know how you build an credit if you cant get an credit card, i want one for orders and things of that nature! Do someone no how ,what bank offer credit without looking in to your credit?

Why dont you try getting a Visa Debit Card from your bank.
It's like a Visa card but you only spend what you have in your checking account.

You need to really build your credit back up so maybe get a secure credit card and work your way up to unsecured.

Below is a website that can give tips on how to fix your credit. Good Luck

2006-04-29 11:05:39 by zhunt312002

Help! I'm trying to start up a business and all I need is a $10k business credit card. But I have a bad credit rating and so far lenders insist I must have a strong co-signer. But I can't get anyone to do this for me (long story) Any suggestions?
In answer to the first responder, it's a self-employed business. I'm the only employee. It's a long story but my personal financial mess is a combination of the high tech collapse (I'm an engineer) that has gone on 6 years, 3.5 years unemployed for myself. Plus, I have a medical condition. I finally made a bold move to get around the medical condition so I can start my own business, now all that is stopping me is a co-signer. I agree, it's not an enviable position but I have no other choice. Is there any way to get a credit card without a co-signer when you have a bad credit rating?

Actually, it's a short story. No one else wants to stick their neck out (co-signing) to cover your debts after you have shown little ability to handle your own affairs. They will be 100% financially responsible if you default on your debts and they know it. Operating a business is like operating your own financial affairs on steriods.

Who in their right mind would start a business on credit card with up to 32% anual interest? That is a very large nut to crack on top of paying for employees,your wages, materials, rent,phone and lights.... then look for making a profit too???
Tell me what kind of business you are going into that has a 32% profit after all expenses and I will start one in a heartbeat (as long as it is legal to do so)

Maybe you had better sit down and work out a business financial plan... then work towards fulfilling it and obtaining the capital you need by working and saving the start-up funds... then someone might be willing to listen to your business idea. If you don't believe in yourself then others will not believe any differently. There is no shortcut to success. Those who cut corners are the first to fail.

Response to additional details:

The most probable way you will get a card is with that much money in their account. Your credit limit will match the amount of money in the savings account held by the credit card company. That way you can start building up a history of purchases and paying the bill on time. You have to re-establish a history of being reliable. After a couple of years of a spotless record, you may find someone who is willing to issue you limited credit and further build from that. I know you are looking for a fast way to do this.... sorry probably not going to happen.

I am not trying to beat up on you... I am trying to show you how others (creditors and co-signers) will look at this. Even if you have lost your job,any work is better than none... even fliping burgers. 10 G's is not an undoable amount but it might take you 1 year to get there working minimum wage. Hopefull you will do the numbers and see that if you are holding 10Grand worth of debt on a credit card, your whole business profit will go to support the debt and you are working for nothing.

If you were an engineer then you are used to solving problems with a systems approach and a thorough evaluation. It doesn't sound like you are using your formal education on this new problem. Please write up a plan and look at all the issues systematically. Form a feasable plan and go after your dreams.

Hope that helps

2007-03-16 13:22:48 by almcneilcan