Q: I have a bad credit score and have racked up a lot of debt. Is there an unsecured credit card with reasonable rates that you can recommend?
Honestly, given the details of your situation, you might consider taking time away from credit cards and focusing on paying down your debt. As you pay down your debt, your credit score will start to recover. When your credit score is in the poor range, it's difficult to get good deals on credit cards. You could end up with a credit card with a very high APR. If you carry a balance, your debt will increase rapidly once you're paying high finance charges.
Since you feel strongly that you need an unsecured card that doesn't require a deposit, I get the feeling that you're having trouble making ends meet. This happens to a lot of people so you're not alone. If this sums up your situation, consider credit counseling. Start by contacting the National Foundation for Credit Counseling, which is a national nonprofit credit counseling network. The NFCC has member agencies around the country. They can help you develop a plan to pay down your debt and get control of your finances.
- If I stop paying my credit card, will the credit card company write off my balance?
- Will going from a secured credit card to an unsecured credit card improve my credit?
- I need to pay off a line of credit and a couple credit cards. What's the best way -- balance transfers or loan or just pay off one at time?