- Members
- 10,838
- Articles
- 3,225
- Authors
- 647
- Interviews
- 86
Quick Links
ZeroMillion Articles
Quick Links
Credit Cards for Poor Credit
Jake Bohall, Knowledge Level: Moderate, Keywords: credit cards, poor credit
One of the hardest things to do when you have poor credit is to increase your credit score. Anyone you ask will always advise you that the best way to build poor credit is to get a credit card.
Recommended Credit Cards for Poor Credit:
Don't put your eggs all in 1 basket. We recommend you apply for at least 4 cards so you can choose the one that is right for you!
- First PREMIER Bank MasterCard/Visa
- Orchard Bank Classic MasterCards
- Centennial MasterCard / Visa
- Wired Plastic Prepaid Visa Card
Of course, getting a credit card will not do you a bit of good unless you use it properly. If you have poor credit, here are your options for credit cards.
Option 1: A secured Credit Card - This is not a bad idea. My first credit card was a secured credit card. I asked my bank for a credit card, and upon inspection of my credit report, they saw I had less than average credit. They recommended a a secured credit card account that would help build my credit score.
Option 2: A high-interest Credit Card - This is most likely a bad idea. It is very important that if you go this route, you pay your bill in full every month.. otherwise, you're not doing yourself any favors.
Option 3: A Credit Card with Co-Signor - Many times your parents, grandparents, husbands/wives, etc.. have better credit than you. If this is the case, you can ask them to co-sign a credit card application. This helps to build your credit while making the credit card companies feel secure that they will be paid.
Regardless of which option you take, it is very important that you follow these simple rules.
- Use 50-70% of your credit limit (as long as you can afford it). This is easy if you use your card to buy things like gas, or insurance.
- Pay the full balance every month. If you have direct deposit through your employer, you might even have a portion of your check deposited into a separate account to make sure you can pay your credit card every month.
Tags: [cached]: credit cards for poor credit, interest credit card, credit card application, secured credit card, husbands wives, credit score, option 1, bad idea, high interest, direct deposit, grandparents, credit report, credit card companies, credit card account, parents, insurance,
Copyright © 2002-2009 Zeromillion.com. All Rights Reserved