Getting with a Credit Card even with a Bad Credit History

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 » Research » Guides » Building Credit History » Getting with a Credit Card even with a Bad Credit History

Getting with a Credit Card even with a Bad Credit History


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

A bad credit history is detrimental to future opportunities. This happens because the history will be the basis of companies when deciding for your worthiness to be lent with money. Once the companies have detected that you are not responsible with your accounts, then they may either turn down your applications or just block you from other opportunities. This is painful to any consumer especially today when credit is one primary way to get through financial predicaments.

But having a bad history will not totally mean any more chances of getting a credit card. Once you shop around good companies, you will surely fall in the hands of issuers who will not take advantage of your situation. When applying, you will still need to provide identification and other proofs that you can pay for your obligations. It is best for you to apply at smaller retail stores or companies which might not offer you big special discounts but will fairly give you the interest rates commensurate to your application. Be aware that you won't be suffering as before when you pay more than the required minimum payment.

Bad credit history will be compromised if savings companies, banks and other credit unions will see that you have managed to come up with a business. They will be willing to lend you and forget about your unpleasant financial engagements in the past if you are already able to rise again and come up with a business. Things may not be the same, though, from the time you had your first applications. Issuers may still impose security requirements by asking you to open a bank account with set maintaining balance given that a portion of your deposits can be allotted to your credit card.

If you still find it hard to convince the issuer that you can do good this time around, you can seek for friends and relatives to stand beside you and act as witness or co-maker for your credit car. This can be enough assurance that your credit could be paid because another person has signed to assume the responsibility in the worst case scenario.

A bad credit history can be fixed. Anybody could grab a second chance. You can always have another credit card as long as you do everything to manage it well this time. Second chances are still open for those who have learned their lessons and will not repeat the same mistake.

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.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Autumn 2018: Best Rewards Credit Cards for Thanksgiving Shopping

Posted: November 8, 2018

Thanksgiving is coming, and whether you are hosting a meal or coming as a guest, your spendings are going to accumulate faster than you can notice. A holiday feast is a costly matter – each year Americans spend around $50 on a Thanksgiving ... Continue reading
The Best Credit Card for Earning Cash: Discover it® Cash Back

The Best Credit Card for Earning Cash: Discover it® Cash Back

Posted: November 2, 2018

You’ll have hundreds of dollars in your pocket in no time because you’ll earn money back on every purchase you make with this card. There are no restrictions on the amount of cash back you can get, and Discover even matches every penny you ... Continue reading
Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Top 5 Cards for Travel from Our Partners: Autumn 2018 – Expert’s Choice

Posted: October 10, 2018

Nights are drawing out, the wind is colder every day and you already feel the lightest breath of winter on your face - autumn is here. Holidays are over, kids are back to school and all you are left with are hefty holiday bills that you ... Continue reading
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!