How to Improve Your Bad Credit Score and Get a Credit Card
Written on 10:18 AM by zorayda
Getting a credit card with bad credit isn’t an impossible task, but you’re not going to get the best credit offers in the world. Still, it’s a line of credit that you can use to build up your credit score and get you out of bad credit hell.
Step1. Have an open checking account in good standing.
If you have a negative balance at your bank there’s a very good chance that you will be denied for credit - even for a secured credit card!
Step2. Make sure you pay your bills on time.
If your electric or cable utilities are always being turned off, you will want to get your finances in order before you apply for a poor credit card.Step3. Repossessions are bad.
If your car was repossessed, see if you can get the car back by making a payment.Step4. Make sure you have no loans currently in default.
Talk to your lender and see if there is some kind of payment play you could work out that would better fit your finances. Just note that if you do manage to work out a new payment structure then you should be aware that the life of the loan may be extended for several years: my particular loan went from a 2 year repayment period to a 15 year period.Step5. Do not have any accounts in collections.
Sometimes it happens: we slip so far that in order for a bad credit card company to make a profit, they have to sell your account to a collections agency. Before you apply for any credit card make sure you are not in collections.Read more>>>>>
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