Best Credit Cards For Bad Credit

Many people assume that if you have bad credit, it’s nearly impossible for you to get a credit card. This couldn’t be any further from the truth. However it does take a little more work and might require you to pay higher fees. Here are some tips for finding a bad credit charge card that’s right for you.

Friends or Family With Good Credit

If you have friends or family with good credit, the can co-sign for a credit card with you. You’ll definitely want to be sure to pay your bills on time since their credit will be on the line as well as your own. But since their good credit history will allow you to qualify for a card, this can look particularly good in the eyes of the credit bureaus and can be a super strategy for boosting your credit rating while also getting a new credit card account.

Local Retail Outlets

Try applying for cards at local retail stores rather than the large banks. Retail merchants will probably be more likely to give you a chance and their criteria are often less strict in terms of how good a credit rating you must have in order to qualify. They might limit your credit line or charge you a higher rate than if you had great credit, but you should still be able to get a credit card from some of them.

This can work in the short term, but in the long term, you really want to have access to a card that can be used anywhere, rather that just at the local clothing or electronics store. Ideally you’ll have a standard Visa, Mastercard or similar brand card but a local retail card can act as a stepping stone to one of those cards if you’re unable to qualify for one initially.

Local Banks Rather than Large Banks

In the same manner as local retailers, smaller, local banks might be more willing to work with you and extend you a credit line. However, they might require a secured credit line, where you’ll need a savings account or some other collateral which will determine your credit limit.

In general, it’s a good idea to avoid larger banks. They have so many potential customers and such stringent qualification requirements that they will probably be less likely to work with you if you have severely damaged credit.

Online Credit Card Offers

You can find several good credit card offers online, even for people with bad credit. The best offers include unsecured credit cards such as Visa or Mastercard offers and are offered with no credit check or other hassles as long as you meet some basic, minimal qualifications. They can be difficult to find, but well worth it, especially if you have bad credit. However, these cards should be used as a way for you to get back on your feet and re-establish your credit, not for gratuitous spending.

Whichever option you choose, be sure you pay off your card on time. Since banks are offering credit lines to you regardless of your credit, they are likely to have pretty high interest rates. But as long as there’s no annual fee and you don’t carry a balance, the interest rate doesn’t matter. If you do have to carry a balance, try to pay it off as quickly as possible and don’t carry a balance more than half your credit line.

Pretty soon, you’ll see your credit rating increase. You’ll be able to easily apply for another card with better terms, leaving your old bad credit charge card in the past but thankful that it allowed you another chance to improve your credit.

Best Credit Cards For Bad Credit

Written by a former debt collector, this credit repair book covers many aspects of credit restoration, including how to legally remove any adverse credit from a consumer credit report, how to negotiate debt, how to prevent and recover from identity theft, the secrets to raising a credit score, and more. Remove judgments, liens, late payments, bankruptcies, collection accounts, inquiries, charge-offs, repossessions, and foreclosures. Learn how to negotiate like a pro, reducing credit card and other unsecured debt to a fraction of what you owe!

From the PublisherDana Neal knows first hand the consequences of bad credit – how a financial setback can leave you unable to buy a house or car, rent an apartment, get insurance or even land a job. But the former collection agency insider also knows that flawless credit is in everyone’s reach. In easy-to-understand terms, the author explains how the credit game is played, the roles of the various players, and the ways in which the credit industry stacks the odds against consumers He then presents a straightforward, no-nonsense plan to show you how to win the credit game by getting others to play by your rules!

From the AuthorWhy a second edition? There are many reasons, including the December 2003 passage of the Fair and Accurate Credit Transactions Act (FACTA), which amends the Fair Credit Reporting Act (FCRA). In addition, identity theft continues to rise, and there are some new strategies for dealing with it; the Bankruptcy Abuse Prevention and Consumer Protection Act (commonly referred to as the Bankruptcy Reform Bill of 2005) was passed into law on April 14, 2005 (taking effect on October 17, 2005), making bankruptcy far less appealing; and my knowledge of credit restoration tactics and strategies has grown significantly in the two years since the first edition of BestCredit was published.

All these things are good for the consumer and collectively improve the chances for do-it-yourself credit repair. And yet one of the most dramatic changes has to do with a decision by Fair Isaac and Company (FICO) to release detailed information about its credit scoring model. This is no small thing, since 75 percent of mortgage lenders use the FICO credit score to assess risk, more than 90 percent of credit card issuers use it in their lending decisions, and 70 percent of all lenders use it for all lending decisions.

In this edition, I’ve also included new information that was requested by readers of the first book. This includes a greater explanation of legal remedies, what to do when swimming in debt, what really happens when a credit bureau receives a dispute letter, and how to go about removing public records. many things are broken down in a way that’s more easily understood, and I’ve developed what I call situational and collective assessments. These are really nothing more than a series of relevant questions, ones that will take the important issues and connect them with real-world circumstances, enabling you to grasp your own situation and more readily create an individualized road map to clean credit.

From the Back CoverLearn from a Collection Agency Insider

This former debt collector knows firsthand the consequences of bad credit–how a financial setback can you leave you unable to buy a house or car, rent an apartment, get insurance, or even land a job. He provides a straightforward, no-nonsense plan showing consumers how to:

* Safely and legally remove adverse credit report history, including bankruptcies, liens, judgments, collection accounts, late payment, repossessions, student loan history, and tenant entries; get back into the checking system if you’ve been banned; establish years of good credit where none existed; and reestablish credit even after bankruptcy

* Develop a comprehensive, individualized strategy for credit restoration; maximize your credit score; and learn the most powerful techniques of getting loan approval

* Prevent and recover from identity theft, understand and compare the many ID theft monitoring solutions available, and protect and restore your overall privacy

* Stop debt collectors, and learn to position yourself to negotiate up to seventy-five percent off of your unsecured debts

* Use the law to your advantage: make the credit bureaus work for you by using the right letters, employ effective written settlement agreements, and use the courts in ways you never thought possible

Most helpful customer reviews

101 of 102 people found the following review helpful.
The BEST resource out there to help you, hands down.
By Christy L.
I am a young woman in my mid/late twenties who made a royal mess of her credit report as a “new adult”. I have searched high and low, and read every book and website you can imagine about how to clean up my credit score.

Not a single book helped me until this one.

Everyone makes mistakes, and one of the greatest mistakes you can make it letting your credit score go down the tubes. However, don’t lose hope! You CAN change things. It will take time, effort, and determination. Do NOT let these creditors and collection agencies beat you down – you can do this.

Not only does this book offer step by step instructions on how to handle every aspect of credit repair, but it provides you with proof of the results you can achieve. Dana Neal was an insider in this industry, but he has also struggled with repairing his own credit. He chronicles some of his experiences, educates you on how he succeded, and gives you a solid game plan to follow. He knows the law, he helps you understand it, and he refutes a lot of the common ploys you see that simply WILL NOT WORK. How does he know? Because he tried them all. This man knows his stuff.

This book covers every poor credit scenario you could imagine… bankruptcy, credit counseling companies, chargeoffs, collection agencies, judgements, existing poor debt, etc. It’s all there. You will learn how to retain your dignity and still receive fantastic results.

If you want the truth and you’re ready to sit down and tackle this problem head-on, buy this book immediately. The road to credit repair is a long one, and it’s not much fun, but this is THE tool you need to carry on your journey.

71 of 72 people found the following review helpful.
Worth every penny!!!
By E. Whitelaw
For a couple of reasons, I conducted a lengthy search both online and in bookstores for a solid book on credit scoring and repair. First, I am a mortgage banker and have a desire to HELP my credit-challenged clients, not just tell them their score and turn them away to some hard-money lender who will only make matters worse for them. Secondly, I desired to boost my own score and remove some derogatory items (some true, some false). There are so many books you can buy, but I ultimately chose Bestcredit, and suggest you do the same. You’ll likely come away feeling as armed and empowered as I do.

35 of 35 people found the following review helpful.
Best Credit… best advice!
By clb
C. Linn Bower, a small business owner, January 26, 2004,
Definately a ‘results oriented’ book
This author deserves the highest praise. I used to have bad credit, and now it’s flawless. This book revived my ability to acquire credit; gave me the confidence to apply for credit with out fear of being denied. Neal’s techniques helped to clear both inaccurate credit ratings from unscrupulous creditors as well as my own credit mistakes. His real life examples were the shot in the arm I needed to initiate credit repair on my own. Now, I can take full responsibility for great credit and keep it that way. My story began with a payment delinquency with Bank One. I was falling behind on my bills shortly after a difficult divorce, and Neal’s technique for credit repair got my relationship with Bank One back on track. They even agreed to remove the bad mark. Also, I was able to clear erroneously reported information from First Union Bank and GMAC. Now they are completely removed. It really worked! And the chapter on identity theft prevention/recovery was top notch. I should also state that I’ve read other books on this subject. None came close to being so complete and easy to follow. (There was also some refreshing humor in there, something we can all use.) Neal was also accessible by answering questions via email- very surprising. This book isn’t for the unmotivated, though. There aren’t any silver bullets or snake oil methods for fixing bad credit. I highly recommend this book to anyone wise enough to recognize and take great advice. A+

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