FAQ: My overall debt is approximately $7,500, with...

My overall debt is approximately $7,500, with $444 of... - Limited/Bad/Fair Credit Questions

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » My overall debt is approximately $7,500, with $444 of it past due and in collections. The...

My overall debt is approximately $7,500, with $444 of it past due and in collections. The remaining balance (all previously defaulted student loans) has been consolidated and I’m current on my payments for 11 months now. With a credit score averaging 576 what type of cards should I be searching for?

Answered on January 20, 2013

Tags: Credit History, Credit Score, Secured Cards

You should look for secured credit cards. These cards are created for those who have a negative credit history, but they want to improve their credit score. Secured credit cards require a collateral deposit. Otherwise, the secured credit cards work just like unsecured credit cards, and may even offer bonus programs. Look at . The card issuer will report your credit performance to the major credit bureaus and can offer credit limit increases without additional deposits. Your initial credit line may grow up to $3,000, but only if you use your card responsibly.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.