Credit Tips: Credit Card for Poor Credit Rating

Posted On: December 1, 2005

Author: claire
Posted: Mon Jul 05, 2004 11:54 am
Post subject: Credit Card for Poor Credit Rating
4/10/2002 9:21 am CDT

can anyone help me get hold of a credit card. i have a poor history but have heard there are companys that will except you if you are rebuilding your credit history.
Can anyone help?
thanks
claire

Author: Peter
Posted: Mon Jul 05, 2004 11:56 am
Post subject: Credit Card for Poor Credit Rating

4/10/2002 3:07 pm CDT

Well Claire I am in a similiar situation. I have no credit history at all and I’m trying to establish my account but I think the best card would be Capital One, but getting accepted may be tricky. You may want to try building up a better credit rating by applying for a simple Secured Card and working your way up, keep paying the bills and your rating should increase slowly. My best advice is having a second cardholder who has a very good credit rating (Forgot the name of em) that will take responsibility for any of your actions, that way you can get get a unsecured card and normally build up your credit very fast. Keep paying the bills and you should be able to get a card on your own after a while.

I’m no expert at this, only telling you what i’ve read.

*****, I don’t even have a credit rating so i’m a new born getting into credit.

Author: Dani
Posted: Mon Jul 05, 2004 11:56 am
Post subject: Credit Card for Poor Credit Rating

4/10/2002 3:38 pm CDT

Claire,

Depending on how bad your credit is you may need to go the secured route - Peter suggested Cap One (which is a good company to begin restablishing with), also try Orchard Bank.
First Permier Bank is iffy (heard good and bad things). Stay away from Cross Country and First Bank of Marin (bad reputations).

Author: Misty
Posted: Mon Jul 05, 2004 11:58 am
Post subject: Credit Card for Poor Credit Rating

4/11/2002 10:41 pm CDT

Claire,

You can try going with companies like Providian and Capital One because they do tend to qualify people who have poor credit. The only problem is is that they usually charge very high rates and/or very high annual fees. They will start you with a very low limit and charge all the maintence fees/annual fees right up front and that usually takes up all of your limit; so read the terms VERY carefully. I would suggest applying for a secured card. I work for Bank of America and you can deposit a minimum of $250 into a savings account to get started. As long as you don’t have a bankruptcy or any recent chargeoffs you usually get approved. You can go to bankofamerica.com and apply. If you get approved, the account is secured for a year & then reviewed to be changed to an unsecured card and you get your deposit back. Good luck!