Personal finance : I need a credit card but I have bad credit.
Should I apply for a Credit card ?
All found on YahooAnswers
I need to borrow $5000 with bad credit, can someone help me?
"I have been trying to get a loan to consolidate some loans. My credit is very bad and I have been http://answers.yahoo.com/question/index?qid=20070320102006AAZrIN9through a bankruptcy that was discharged in July of last year..."
How can i get a student loan without a cosigner?
Im almost 22, i live with my parents one disabled, and one not disabled either way they can't cosign on a loan for me and there is no way they can afford to pay for my tuition.
http://answers.yahoo.com/question/index?qid=20070320191058AAcZbtw
Can I get 100% car loan on on-road price?
I want to buy a car and want to know if i can 100% amount financed.
http://answers.yahoo.com/question/index?qid=20070403023258AAy96TT
About Bad Credit Clients in a desperate need of a Credit Card
Bad credit problem can be caused due to a number of situations. Credit cards available to bad credit people allow them to rebuild their credit history. Financial products that help bad credit people are prepaid credit cards or debit cards, secured bad credit cards, unsecured bad credit cards.
In this article we take a look at each one of them.
Prepaid or debit cards
The easiest options available for bad credit people. There are no verifications, no credit checks, no employment requirements, and the approval is instant. All they have to do is to deposit a money and a prepaid card is issued. This card has the borrowing or buying capacity equivalent to the funds deposited. The good thing with prepaid credit card is that it promotes financial discipline. Some prepaid card issuers report to various credit rating agencies, thus it helps in rebuilding your credit history.
WARNING : This is no magic. Do not forget to pay your debts before starting to spend for things you don't absolutely need.
Secured bad credit credit cards
These credit cards are issued to bad credit people who can offer a collateral. Generally, offered to homeowners, secured bad credit cards help one rebuild his credit history. The interest rates and borrowing limits on these credit cards are good and favorable for bad credit people. Secured credit cards can also be linked to a savings account in which case it will have a credit limit of some percentage of your savings or money in your account. As the credit card issuer gains confidence with you it can increase your credit limit. Again, if you control your finances and spending, repay on time and do not default your credit history will improve.
This card is the best
in most situations.
Unsecured bad credit credit cards
These credit cards have
high fees, which makes them a costly proposition to choose. But if a
person with bad credit doesn't have anything to offer as collateral
or is unable to buy a prepaid or debit card, this is the only option
that remains. However, on a positive note, this unsecured bad credit
credit card offers the person a chance to rebuild his credit
history.
Better improve your credit Score before filling a new Credit Card Application Form.