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 If you've got bad credit you CAN still get a credit card; although it may have to be a secured credit card. You'll just pay more interest, and the terms of your card deal will be much stiffer than the average cardholder has to deal with; but pay off each month on time, and you will soon reap rewards. Handle that deal and you can begin to rebuild your credit and get back to better and better card deals. Some people don't have really bad credit, you just don't have good credit. Some people are just establishing credit (maybe it's the first time ever dealing with credit), others have had bad credit but are beginning to make headway into restoring a good credit name. A credit union may offer the best deals for people with damaged credit, Pulaski Bank offers some cards that have very low credit score acceptance levels. People with spotfree credit reports obviously get the best deals. In most cases you will find that your rates, fees, penalties, charges and credit limits (you may have to start with something as low as $500) will be worse in relation to how far from perfect your credit record is. Card companies look at more than just your payment history, and balance the bad -- like late payments -- against the good -- like a steady job and long-time residence at the same address. So don't assume or accept the worst. Keep in mind that card issuers are very aggressive in their efforts to sign people up at high rates. That means there will be plenty of competition for your dollars even if they are a little crumpled. Don't ask for too much when you apply. It might be a case of getting what you wish for - and can't handle and blow it all. If you get more than you can really handle, you could be putting you entire credit recovery process at risk. If you can afford more, put that extra money toward getting rid of other debt, including old credit card bills. A reformed credit history is more valuable than a big credit line available to you. Keep paying off non-credit-card bills and debt. There's little point in paying off your new credit card if you fail to pay a mortgage, utility bill or car payment, because these can vastly affect your credit score. Don't apply to every card company you can find. Too many applications for credit can scare creditors (they can easily find how many times you've applied when they access your credit report), especially if your credit is already tarnished. Take it easy! Research and find your best bet and apply for it with confidence. Minor credit card Try a department store, a gas company or some other smaller level credit card. It will help you in your daily finances, and it will also help rebuild that credit. If you can handle a Macy's or a Texaco card, major card companies will be impressed; just don't go on endless shopping sprees. Be aware, though, that these cards sometimes come with high interest rates, low credit limits, and high problems. Plus, some issuers of department store cards do not report to the credit bureaus. This means any prompt payments you make with the card won't be noted on your credit report. Having an unreported-card account won't boost your credit one bit. Co-signatory You can ask a relative or friend to co-sign or co-borrow for a card if you have trouble getting one yourself. But understand something from the start: when their credit becomes a factor in you getting a card (it may be a huge help if it's great credit) they are also in credit trouble in most cases if you mess up. So in this case it's not a matter of numbers only -- friendship and trust are in the mix. Take a lot of care because you will be affecting their credit! Secured card Consider a secured credit card. These guarantee approval regardless of credit history. Start by checking out Find a Credit Solution's best secured credit cards in the country. With a secured card you put up your own cash (into a savings account) and that amount (or part of it) is the credit line for your card. Put in $1,000 and you could have up to a $1,000 credit line. Why bother with this process? It gives you the flexibility of using a credit card and because if you pay off every statement you are letting creditors know that you can handle credit (again) and your bank may soon begin extending your credit line beyond what you have put in. So you are on your way back to healthier credit, to a status where you will no longer need a secured card and can get a regular card. Published: Sunday 5th of October 2008 01:32:55 PM For more information on credit cards and related topics, please see our library of articles. 
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