Let's face facts. If you plan on buying any high ticket item these days, you are going to need a credit card. It just makes things so much easier for you and the business selling the product. Sure, you could pay cash for many things, but how often do you carry around that much cash on hand? You don't have this problem when you use one which is another reason why they are so popular. However, what happens to those who, unfortunately, have bad credit?
If you're one of those who have bad credit history, know that most of the companies will look at many factors when deciding to approve you. They look at everything from payment history to job standing so don't automatically assume that your bad credit will prevent you from getting that credit card. If you meet at least some of their requirements, chances are you'll be issued one even with bad credit. Here are a few other things you can do to assure you are approved:
Before you even think about applying for a new credit card, you better be sure that other parts of your financial life are clean, especially if you already have bad credit. Most people go with using and maintaining an open checking account and then keeping it in good standing. If you are doing this successfully and have the chance to, open a savings account too and keep that in good standing. You'll be pleasantly surprised at how quickly this can improve your credit score.
Another great way to improve your credit is to simply start paying all your bills on time. If you have one or more bills past due such as having your electricity turned off because of late payments, you probably shouldn't worry about getting one of these and instead pay your bills.
Try to avoid things like foreclosures of repossessions if you can at all costs. They reflect negatively on you and more importantly, your credit situation. If you have any type of loan payments that can avert a repossession of any kind, my advice is to pay it before applying for a credit card.
Find out if there are any other accounts of yours that are currently turned over to a collection agency. You'd be surprised how easily this can happen. Often times, it's just a small bill that you didn't even know you had that can severely harm your chances of being approved for credit.
More than anything else, you need a steady paycheck and for that you need to have a job. Companies and other lenders love to see a steady form of income more than anything else on this list. If they are willing to take a chance on you with a credit card, they want to know you can pay them back. The longer you have been with a company also improves your chances of success.
If you are unable to get an unsecured credit card, try going through your bank for a secured one. You will need some sort of cash collateral in order for the bank to set one up. It is then up to you to keep that account in good standing through regular, on-time payments.
The Credit Exchange Corporation offers financial services such as Financial Analysis, credit card counseling and Debt Settlement through an affiliate network of debt consolidation companies and debt management companies. Visit us at www.thecreditexchange.com.
Article Source: http://EzineArticles.com/?expert=TL_Kleban
If you're one of those who have bad credit history, know that most of the companies will look at many factors when deciding to approve you. They look at everything from payment history to job standing so don't automatically assume that your bad credit will prevent you from getting that credit card. If you meet at least some of their requirements, chances are you'll be issued one even with bad credit. Here are a few other things you can do to assure you are approved:
Before you even think about applying for a new credit card, you better be sure that other parts of your financial life are clean, especially if you already have bad credit. Most people go with using and maintaining an open checking account and then keeping it in good standing. If you are doing this successfully and have the chance to, open a savings account too and keep that in good standing. You'll be pleasantly surprised at how quickly this can improve your credit score.
Another great way to improve your credit is to simply start paying all your bills on time. If you have one or more bills past due such as having your electricity turned off because of late payments, you probably shouldn't worry about getting one of these and instead pay your bills.
Try to avoid things like foreclosures of repossessions if you can at all costs. They reflect negatively on you and more importantly, your credit situation. If you have any type of loan payments that can avert a repossession of any kind, my advice is to pay it before applying for a credit card.
Find out if there are any other accounts of yours that are currently turned over to a collection agency. You'd be surprised how easily this can happen. Often times, it's just a small bill that you didn't even know you had that can severely harm your chances of being approved for credit.
More than anything else, you need a steady paycheck and for that you need to have a job. Companies and other lenders love to see a steady form of income more than anything else on this list. If they are willing to take a chance on you with a credit card, they want to know you can pay them back. The longer you have been with a company also improves your chances of success.
If you are unable to get an unsecured credit card, try going through your bank for a secured one. You will need some sort of cash collateral in order for the bank to set one up. It is then up to you to keep that account in good standing through regular, on-time payments.
The Credit Exchange Corporation offers financial services such as Financial Analysis, credit card counseling and Debt Settlement through an affiliate network of debt consolidation companies and debt management companies. Visit us at www.thecreditexchange.com.
Article Source: http://EzineArticles.com/?expert=TL_Kleban
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