Question : What credit card companies offer cards for people with bad credit?
I have made some bad financial decisions in my life and as a result I have horrible credit. I am looking for a credit card company that will issue me a card in order to rebuild my credit. Are there any companies that don't have an outrageous interest rate that will help me get my credit back on track?
- asked by Ashlie
All Answers:
Answer #1
you would be lucky to get a card. if you do yourinterest will be sky high.
- answered by Shawn
Answer #2
Short version of my answer: no.With a poor recordyou will be offered cards with high interest, lowlimits, and very high overage fees.
- answered by Calvin
Answer #3
OK. If you are concerned re the interest ratethen you are intending to use the card for morethan just building your credit. So, you need topay off any credit card debt in full every month. That being said, you can ask for aa secured card. This is your best option.
- answered by MadMan
Answer #4
Some banks offer secured cards. Different than aprepaid card, a secured card works just like acredit card, except you have to make a securitydeposit up-front. It helps repair your creditbecause you have to make on-time payments for yourpurchases, in addition to the security deposit. Also, if you pay your balance in full each month,there usually won't be an interest charge.
- answered by msc
Answer #5
NoAnd, that is the penalty for screwing up. Youwill either not be approved for any unsecuredcard, or, if you are lucky enough to find one,they will have an outrageous application or annualfee and the interest will also be through theroof. Money will cost you a lot to borrow. Theonly type of card you *may* be able to get is asecured card. If your credit score is below 500,don't bother even applying for one, because youwon't even get one of those. If you belong to acredit union, inquire about a secured credit cardthere.
- answered by Use Your Noodle
Answer #6
There are credit card companies that work withpeople that have damaged credit like Orchard Bank,First Premier, H.S.B.C. and Capital One. But theyall charge high interest rates and fees.If you payin full every month you can avoid the interestcharges.
- answered by SPIFIMAN1
Answer #7
You will most likely need to get a secured creditcard if you have bad credit. With a secured cardyou will need to put down a deposit however itwill be reported to the credit bureaus. OrchardBank offers secured credit cards for people withbad credit. Please see the source link if youwould like to apply.
- answered by M C
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