How to find a credit card for bad credit that can rebuild your credit score - PowerPoint PPT Presentation

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How to find a credit card for bad credit that can rebuild your credit score

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How to find a credit card for bad credit that can rebuild your credit score – PowerPoint PPT presentation

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Title: How to find a credit card for bad credit that can rebuild your credit score


1
  • How To Find A Credit Card For Bad Credit That
    Rebuild Credit
  • Finding a credit card for bad credit can be
    difficult. Because of your credit score, or no
    credit history, you are considered a risk by
    many credit card companies. There are ways around
    this issue. Obtaining a credit card is doable.
    It's going to require research and a little work.
    Here are some tips for getting qualified for a
    credit card with bad credit.
  • Apply For A Bad Credit Credit Card
  • There are two types of bad credit credit credit
    cards. Secured and unsecured credit cards for bad
    credit. Secured credit cards require that you
    put down a security deposit which becomes a your
    credit limit. Within 2 years of obtaining your
    secured card, it will become unsecured and your
    security deposit returned to you.
  • Then there are unsecured credit cards for bad
    credit. There are actually several different
    types of these cards. When looking for them
    online use the keywords bad credit credit cards,
    unsecured credit cards for bad credit, bad
    credit cards.
  • Unsecured credit cards for bad credit are cards
    that do not require a security department. When
    we work with credit repair clients, we use these
    cards if the client doesnt have the money to
    put down for a secured credit card. The reason we
    prefer the secured credit cards is that while
    these unsecured cards are nice. They come with an
    application fee (they may use another name) but
    these are fees that must be paid before you can
    start using the card. These fees can range from
    50 to as much as 300! They put the fee on the
    credit card so that you have to pay off the fee
    to be able to utilize your full credit card
    balance. Thats why we say if you save up at
    least 300 and apply for a secured card. You get
    that 300 back when your card goes unsecured.
    But if your budget is tight and you cant do
    that, then unsecured bad credit credit cards are
    the answer!
  • Merchandise cards - These cards are also called
    catalog cards or guaranteed approval credit
    cards. They are unsecured cards and many dont
    even credit check. With these cards you can only
    buy items that are in their catalog. The key to
    finding a good merchandise card is that it needs
    to report to at LEAST one credit reporting agency
    like the Freedom Gold Card. It reports to 1
    credit bureau and will help you rebuild your
    credit.
  • Apply for a Retail or Gas Credit Card
  • If your credit score is at least a 600 you want
    to look at a retail (store) credit card or a gas
    card. Read the credit requirements carefully
    before you apply. Many of them will put their
    minimum credit score in the FAQ or in the break
    down of interest rate and fees.
  • Retail accounts can be easy to qualify for.
    Especially if you are there with items in hand
    ready to make a purchase! Stores that have
    furniture departments tend to have on premises
    credit departments.
  • Sometimes talking with the agents and explaining
    your situation can turn a No to a YES! Just make
    sure you bring in paystubs to back up your
    ability to pay.
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