"For NASA, space is still a high priority."Dan Quayle
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Credit Cards: Low APR vs 0% APR
Mano y mano, which one is better do you think - a credit card with low, ongoing APR or one that offers 0% APR as an intro rate? There are so many types of credit cards that offer all sorts of promotions and rewards that it's definitely hard for a ...
How Low Interest Credit Cards Work
Low Interest credit cards are exactly what their name suggests. They charge low rates of interest (APR). The APR is calculated in the same way as with other credit cards; this facilitates an easy comparison for an individual who is planning to switch over ...
Small Business Credit Cards For More Successful Businesses
Small business credit cards are credit instruments that cater specifically to the needs of small businesses. They are like your normal credit card except for some changes in interest rates and features which are optimized for use by small businesses. They ...
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Bad credit can haunt a consumer. You might not be able to get loans that you need or get the same loans but at a higher interest rate than you normally would with better credit. But there is a way to stop this cycle and it's by getting a credit card and using it responsibly. This will show future lenders that you are working to pay off your bills.
1. Online resources
One of the easiest ways to get a credit card when you have bad credit is to look online for various merchants. Of course, you will want to stick with major credit card companies in order to be safe, but many times you'll be able to find credit cards that will allow you to start your way to better credit.
2. Your local bank
Many banks also allow you to open up credit cards through their institution. And since the bank knows how much money you have, you can sometimes get a card when you have poor credit. The card won't have a high limit, but you're trying to establish a history of timely payments, not trying to charge yourself back into debt.
3. Secured cards
Another great option for credit cards for people with bad credit is secured cards. If you've ever used a gift card, this is much the same. You will put money onto the card and then be able to use it as you would a traditional credit card. But in this case, you can't spend more than you have on the card, thus you are establish a good credit history.
4. Home equity
If you own a home and are making mortgage payments, you may be able to refinance your loan in order to get more money for your debt. What you can do then is get a credit card account through your bank with this money funding it. Just like a debit card, you will only have as much money as you have refinanced, but you're also able to build a better credit card history by using the monies responsibly.
5. What to look for
When you're looking for a credit card and you don't have good credit, you need to be pickier about who you choose. First of all, you want to choose a credit card that doesn't have a high interest rate that will accumulate balances that you can not pay. You will also want to find a card that does not have a high limit. You want to curtail your spending as you resolve your credit problems.
You cannot avoid your bad credit, so use it to rebuild your financial history and create a better future for your money.
About The Author
Beth Derkowitz recommends Find Credit Cards for finding credit cards for people with bad credit. See http://www.findcreditcards.org/type/bad-credit.php for more information.
bethderkowitz@gmail.com
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Comments show credit card rules must changeDallas Morning News, TX - 5 minutes agoIf you want an idea of how angry consumers are at credit card companies, get a load of the complaints e-mailed to the Federal Reserve about efforts to ... |
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