-->
-
-
Related Mahalo Pages
How to Improve Your Bad Credit Score | How to Get a Low Interest Rate Credit Card | How to Lower Your Credit Card Rates | How to Find the Best Credit Card Rewards Program | How to Get Out of Debt | How to Build Good Credit | How to Consolidate Your Bills | How to Consolidate Debt | How to Get a Free Credit Report | How to Cut Household Expenses | How to Use LifeLock | How to Choose a Credit Card | Credit Card Forgiveness Plan | Credit Crisis | Credit Suisse | How to Deal with Debt Collectors | How to Get Out of Credit Card Debt | How to Get a Home Equity Line of Credit | How to Get a Free Credit Report Videos | How to Get Out of Debt Videos | How to Lower Your Credit Card Rates Videos | How to Get a Loan With Bad Credit | How to File for Ohio Bankruptcy
Categories
Managed By: mike
Managed Since: 06/01/2009
Views: 631
Money Earned: M$66.56
Page revenue is subject to change as we obtain data from our partners
Managed Since: 06/01/2009
Views: 631
Money Earned: M$66.56
Page revenue is subject to change as we obtain data from our partners
- View History

- Discuss on the Message Board

- Embed this Page

-
Share this page
-
-
Introduction
- If you have a poor credit rating, banks and financial institutions are less likely to approve your credit card applications. For many people, creating and maintaining a credit history is necessary for many future endeavors, such as buying a house or car. Therefore, it may be imperative that you repair and maintain your credit history. Obtaining a credit card is a step in this direction, and although you may have to start off small, it is possible to get a credit card—even with poor credit—and get on your way towards improving your credit score.
-
Step 1: Talk to Your Financial Institution
- If you have any history with a bank, credit union or other financial institution, apply for a credit card there. Even if you have not received credit from your bank and only have a checking or savings account, they may be more likely to approve your credit card application since they are familiar with you and you have demonstrated stability by maintaining an account.
-
Step 2: Apply for a Store Credit Card
- If you are having difficulty obtaining a credit card from a major provider, apply for a retail credit card or gas card. Smaller stores may be more likely to approve your application, but be advised that these cards may have high interest rates.
- Do not go overboard with your applications, since several inquiries into your credit report in a small amount of time can lower your credit score even further. Apply for one or two cards at a time, and then wait to see if you have been approved.
-
-
Step 3: Get a Co-Signer
- If the above two strategies have failed, consider asking a friend or family member with good credit to act as a co-signer on your application. By doing so, they are agreeing to take over your debt if you cannot pay it and their credit rating will also be adversely affected if you default.
-
Step 4: Apply for a Secured Credit Card
- To apply for a secured credit card, you will need to provide a cash deposit as collateral. In most cases, this deposit then becomes your credit limit. For example, if you deposit $500, the credit limit on your secured credit card will be $500. Be aware that most secured credit providers charge an annual fee, and that these fees can vary widely between companies. If you maintain good credit habits, your annual fee may be reduced, or your credit limit may be increased.
-