What is the best way to improve a bad credit history situation?


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 » What is the best way to improve a bad credit history situation?

What is the best way to improve a bad credit history situation?

Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.
Having a credit card can seem like the best choice in recent times. Especially when there are so many payments and details to look at you will want to make sure that you have the best possible choice at hand when it comes to credit cards. A common problem people have to face is with bad credit history being a block at acquiring a decent credit card. With a credit score a person may be eligible for a certain range of APR in the market. But the actual APR is known only after the approval process is completed. There are many different kinds of cards in the market these days and choosing one single one can be rather complicated. The important thing to do is to figure out where you stand in terms of eligibility and then apply. When you are applying for a high end card, you should also consider the payments on it. Sometimes large annual fees and large costs will be there which will make it extremely difficult to afford the payments on your new credit card. When you are someone who wishes to make sure your credit history remains unblemished, you should be able to consider all the variables that may affect your credit card thoroughly. Many people end up with overly expensive cards which are not easy to afford. The important thing to do is to not panic, but rather to make regular payments and close the debt as soon as possible. When you make payments late or do not make them on time, you end up losing money on the card. Do not carry too many credit cards and swipe up large amounts on all of them; this will only complicate things for you as a card user. Ask for a compiled credit report from all three credit bureaus to determine how things stand. When you wish to avoid a difficult credit situation, you should be able to find out in detail how things are. When you have a compiled report in place it will become easier to approach creditors and also discuss negotiations with them to finalize things. Also you can request creditors to lower credit limits so that your credit history will be in better standing. Be careful that you do not close off a long standing account, rather than this, if you reduce the available credit, it will make for a better solution to this situation. When you want a good credit card to pay for all the transactions that you wish to use it for, you can opt for a secured credit card. With a secured credit card you can be sure that you can make payments on time and can reduce the burden on yourself. Since you have secured the card beforehand you will only be spending an amount that is affordable. You can also ask people to co-sign on a card with you so that you get an interesting deal on your card. When you have a reasonable credit score you can work at being eligible for an unsecured card eventually.

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!