Credit Card Bad Credit No Credit

I have a low score but its been rising steadily... I know available credit will help but will receiving a credit card for ppl with bad credit lower my score?

Yes, it doesn't matter what company you get the card from, only that you pay it and they report that you pay it. As for that previous answer mentioning to go to your bank and see if they can give you a credit card, normally I'd say that's a good idea, however, if you're bank is like Wachovia or WaMu, I'd think twice about that...

2009-03-10 15:59:58 by Peanut Buttter Jelly Time

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I have pretty bad credit but would like to apply for a credit card. Are there any out there that I can sign up for that are made specifically for bad credit?

If you have bad credit the LAST thing you need is a credit card. Work on paying off the debt you have before incurring more!

Personally, unless it's a car, house, or education you shouldn't use credit. if you can't pay for it in cash, then you can't afford it.

Separate wants from needs.

But, if you really NEED one, student credit cards are usually easy to get. They have a lower limit. just go for your basic no annual fee, Visa or MasterCard. You can apply online or at most banks. Your bank may partner with a credit agency as well.

2009-01-16 14:54:53 by Maggie Mayfield

Price: $12.95

all the cards I am seeing have no available balance after all the fees have been applied when you first get the card. Is there one out there that isn't like that?

Not likely. There are plenty of CC outfits out there that specialize in giving cards to people with bad credit but it will cost you. It is very common to pay upfront fees totaling over $200 just to get the card, but usually this is automatically charged to the new card. That means you will already be hundreds of dollars in the hole on this card leaving you with maybe $50 in available credit at subprime interest averaging 18.9%. Not a very good deal if you ask me.

You are better off taking that money and using it to get a secured card. There are also fees associated with a secured card but nothing like the above. Make sure the card reports to the credit bureaus so that after a year of good payments you should qualify for a regular card with much better terms.

2008-07-30 13:25:23 by Timbre H

Do prepaid cards report to credit agencies? We have applied to two "bad credit" credit cards and have been denied because of no history so we were thinking prepaid would be the way to go. Do you all have suggestions for a prepaid card that reports montly to the 3 credit bureaus?

I got my first credit card at a department store and all I had was my job on my history.

Go to Sears, Macy's, or somewhere in a mall. Or try to apply for credit at a furniture store, or Best Buy, that offers a payment plan.

It will be for a low amount, but only use half of the amount or less.

Then you will begin to get promotional offers in the mail to give you credit.

These will also be pretty small (200-500 bucks), but still only make small purchases and try not to go over 1/2 of the amount of your limit.

This keeps your rating going up and up.

Then you can go into making larger purchases like cars, or applying for larger credit amounts.

2008-04-26 16:09:25 by johnwhetzell

If I spend more than my credit line (Credit card) would support and I make more than one payment a month, will this be bad, good or neutral for my credit history?

The fact that you are paying more than once has no effect on your credit report. But the fact that you are spending more than your credit line would.

The credit card companies report your high balance for the month. So if your high balance for the month is near(or worse over) the credit limit, it appears that you are maxing out your credit card. Even though you pay it down/off this is seen as a negative item. Ideally you should never go over 30% of your total credit lines at any one time.

2008-05-02 11:17:10 by Celio Martins