Bad credit credit card?

I would suggest applying for a secured credit card through a well-known bank, such as Capital One or Bank of America. You can apply at First Premier Bank if you want to -- they offer unsecured cards for people with bad credit scores, but they charge REALLY ridiculous fees...like close to $100 just to open your account. At least with a secured credit card, the money that you put up is refundable.

 

Maybe just try getting a loan instead? Credit Cards aren't all they're cracked up to be. If you use them too much, you go into debt. If you don't use them, they hassle and harass you with calls about why you aren't using your account. And will sometimes even threaten to shut your account off if you don't use the card to make purchases.

 

I think you'll have to get your credit rating up before getting any kind of loan. The secured cards are a good route, but you have to use them with the intention of creating a credit record. There are sites available that will outline how to go about doing this so you don't end up with a worse credit rating.

 

Actually cards are useful tools but they have to be used responsibly.
Yeah some people can get into trouble with cards and you need to
keep in mind that if the balance is not cleared then the interest rates can
start to hurt pretty quickly. With that thought in mind, yes they are useful.
But discipline is required.
Ryder13

 

Yes, you are supposed to only use like 30 percent of your limit or less, and you have to make sure to pay off your card every month. Some secured cards charge outrageous annual fees, so you might want to try to switch to another card through the same bank after you have boosted your credit score a little bit.

 

The only type of card you will be able to get is a secured card. It works just like a prepaid card. The good thing about these cards is you cannot go over a limit. Because all that you can spend is your own money you loaded unto the card. Make sure you get the card through a bank. That way you will be rebuilding your credit. Be very careful of these card companys that try to offer you an unsecured card. They limit you to making purchases through one of their stores. And they charge you a ridiculous interest rate. And it does nothing to further your credit history.

Your only other option is to pay off the debt you owe that caused your credit to be shaky.

 

You may be able to get something better than a secured card. Are your bank accounts in good standing? Some banks will give you a credit card if you have enough money in the bank with them. For instance, if you have a bank account worth $3,000 they might give you a credit card with a limit of $500. They do this because they know that you will have the ability to pay it off even if you max it out.

Once you have the $500 credit limit, eventually you'll be able to increase that limit over time, which will in turn increase your credit rating.

 

That is true, MakingCents. I would definitely suggest talking to your bank about a credit card first. They also say that credit unions are pretty good about offering good cards, but I have never had one myself. Just make sure that you use whatever card you get carefully so that it will help your credit and not hurt it.

 

I can't stand the idea of a "secured card option" or one that has high annual fees. I think that since I have a few minor credit cards I am going to try to use the options that make sense to me. A secured card you are spending money to allow the card companies to lend you your own money in essence.