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credit cards for bad credit?

what type of cards are good for rebuilding credit?

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  1. non
  2. go to www.orchardbank.com
  3. There are specific credit cards you can get that will help you re-establish your credit record of regular payments. Before you check anything out you really need to make sure you are prepared and disciplined to NOT get into the same situation again. To do so, I'd recommend a credit card that you will pay off everymonth. You use it to pay for necessities and then set THAT money aside to pay the card off every month. Here is a list of cards that will provide credit to problem clients. Keep in mind the interest rates are painful, the charges are tough: http://www.credit.com/products/credit_cards/sub-prime.jsp Better is to go with a SECURED CREDIT CARD through, hopefully, your local bank. Check out: http://www.debtworkout.com/bad_credit/credit_card/application_help.html This will give you a good discussion of secured and unsecured but pay particular attention to the secured card section. Good Luck! I hope this was helpful. Take Care, TBG
  4. Did you know that in addition to a good credit card, you can also use a savings account to establish or repair your credit? You can, and it’s easy! Follow these 5 simple steps and you can rebuild your credit for next to nothing! 1. Open a Credit Union Savings Account Call your local credit union tell them you want to open a savings account. Depending on the credit union you may need as little as $25 to open an account and between $300 to $500.00 to make this program work. If you don’t have enough cash yet, don’t wait. Open your account with the minimum requirement and begin to deposit as often as you can. Most credit unions require a small amount ($5-$25) to remain untouched to keep the account active. The remainder will be used for this program. 2. Take out a Loan Secured by Your Savings Once your account is open and has the minimum available, take out a Secured Share Loan. This loan will be secured by your savings, and usually has a very low rate (avg 4-6%.) In most cases you can choose any repayment terms you like. If you plan to buy a home within the next 90 days, choose a 12 month repayment. Why? Once you have 10 months or less left, most lenders will not count the payment against your debt load! Also, request that the repayment to begin right away so there is no delay in building your credit! 3. Deposit the Loan Funds back into Your Savings Account Don't go on a shopping spree! Have the credit union deposit the loan funds directly back into the savings account. Remember, this is to build your credit, not put you in debt! Now your account will show double the amount you placed in savings... For example: $500 for your savings (the secured amount), and $500 from your loan. This may also help if you need to show a mortgage lender additional savings! 4. Set up Automatic Drafts from Savings to Pay Back Loan Ask to have the monthly payments for the loan drafted from your savings account. Now you are using the loan money to repay the actual loan, plus any interest. (For our $500 example, interest should cost you less than $25 a year!) Payments will be made on time and without any worry! You may need to add just enough money to cover the interest on the loan. One of the best features of this program is that if you ever need your $500 for an emergency, simply have the loan completely paid off with the remaining loan funds in the savings and your initial deposit will be released... With no additional debt! Rebuild Your Credit... Using Your Savings! Try to find a credit union that reports to ALL three major credit bureaus... Equifax, Experian and TransUnion. You can use multiple credit unions if you need to... Just make sure that at least 2 bureaus get reported to or you are wasting your time. (2 scores will bring up the middle score!) Go to http://www.card-city.com/ and get credit card for bad credit people and rebuild you credit.
  5. How to Select Bad Credit Credit Cards: Bad credit credit cards have been developed for people with poor credit and want to improve their credit rating. There are two types of credit cards: secured and unsecured credit cards. You have to choose between these two, based on various factors with the stable income being the crucial one.
  6. Prepaid cards or low-limit credit cards. Citibank ha a really good one for bad credit score : http://simple-credit-cards-and-loans.com
  7. Hi, it's not always easy to find the right companies. I've done a little research and found 3 which are serious & trusted and without credit checks. You might check them out and then choose the one which suits you best: http://www.usefulresources.info/credit-card-advance-cb.html http://www.usefulresources.info/credit-card-liberty-cb.html if you rather prefer Visa: http://www.usefulresources.info/visa-card-az.html Hope that helps. Wish you all the best! Mike
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