I was wondering if there is a way to get a visa or mastercard credit card when you have bad credit?
and i don’t mean a secure credit card where they charge you a big amount just to use it, i mean a real one……
I’ve never had a visa or mastercard before, my bad credit comes from other things
If you have bad credit, you can’t handle a credit card.
The best way to start, though, is to open a checking account and apply for a Visa debit card. You won’t be able to charge anything on it, but it will work for securing things like rental cars and hotel rooms.
There are cards (for people with bad credit) that are unsecured, but they charge exhorbitant upfront, monthly, and annual fees. One of them is Providian Bank.
Three things about a secured card (that’s all I use these days because of he convenience):
1. The money that you deposit into their bank is still your money. They hold it as security against the credit that they extend to you, but they don’t touch it/can’t take it unless you default on your credit payments.
2. You earn interest on your bank account balance. Many companies will increase your credit limit every time your bank balance reaches a certain amount.
3. You can close your credit account at any time, and if you owe a balance, they will pay off what you owe (or you can pay it off yourself) and will return the remainder to you. Or if you choose to pay it off yourself, they will return your entire bank account balance to you. Because you close your account, instead of it being closed, you can reopen it any time you have the deposit available again.
Since you can voluntarily close your account should you encounter financial difficulties, you avoid collection activity and you preserve the positive effect your timely payments had on your credit rating.
My son did so well with his secured card, he went from a very negative credit rating to a perfect one.
I hope I helped. God bless you.
Neveah,
You can get a Visa or a Mastercard, but I’m going to be honest, those type of cards are loaded with all kinds of ridiculous fees that are charged well before you even get the card! So, with that said, your best bet would be a secured card. Granted you would have to put up your own money as collateral, but not only it’s easier to get than a regular card, it gives you incentive and motivation not to overspend and pay on time so that you can get the deposit back once it converts. It’s important to understand that each time you apply for credit whether you’re approved or not, it lowers your credit score, so it’s important to get something that you gives you the best chance of getting approved.
you can, but it’s not advisable, because of your credit history, you will end up paying all sorts fo ridiculous fees, and have an extremely high interest rate. I agree the Visa debit card is the way to go, if you are credit challenged. I would suggest that you start to clean up your credit though before trying to get a credit card. Good Luck!
You can open an checking account, get a debit card and use it like a credit card. they have V/MC logo and they are accepted everywhere that V/MC is accepted. The only difference is that you are using you own money which is bettter any way if you credit is already bad. That way you can learn to budget you money better. That is what I’m trying to do now.
Hey how are you? Try and I bet they could hook you up.