Bad Credit Agency

Please help need better more specific info about credit cards for people with bad credit?

I have posted a few times but need more specific info. The cards I see charge 200 dollars in miscellanious fees just to get the card for a 250 dollar limit. Will it really help to have this card? It seems like extortion,but Im wondering if i need to do it anyway. I want to do something. Is it the same effect on my credit if I have a secured card? I need help please, and thank you

Public Comments

1. no do not get that credit card -- stay with the bank secure card until you get you savings in line and your credit score i good enough for your bank to issue you a regular credit card!!!
2. Avoid trash cards like that at all costs! That sort of company feasts upon people who are building up new credit, or who who are re-establishing credit. Good terms for the sort of card you are looking for will generally include a modest *annual* fee (think the $39 range) and *no* monthly account fees. There should be no setup fee. I can think of two companies you can trust for this: Orchard Bank (HSBC) and Capital One. Neither will look too bad on your report. There are a few ideal solutions: 1) Establish a relationship with a credit union and start with a credit union card. This probably won't include an annual fee and will be more likely to grow with you (where, on the other hand, you'd probably close that Orchard or Capital One, eventually, due to a low credit limit and annual fee). As your oldest tradeline, it would be nice to keep it around. This requires more effort. 2) Get a secured card from your bank or credit union. Many report as secured cards, but they build up credit all the same. If you can find one that doesn't report as a secured card all the better! In a case like this you should not be paying an annual fee. Many secured cards can be converted to regular cards if you keep your account in good standing.