I have never had a credit card because I wanted to avoid poor spending habits and bad credit. However, I have bad credit now due to being in debt for other reasons.
My question is does bad or poor credit not due to credit card usage have a major effect on one's ability to apply for a credit card? What is the best credit card for people with bad credit who want to build credit?
In applying for a credit card, your credit history will be considered even if you’ve never had a card before. You may still be able to get a credit card, such as a secured credit card. You can read more about secured credit cards in http://www.moneytips.com/which-credit-card-is-right-for-you | 01.21.15 @ 03:57
A secured card is likely your best route to go now. A lot of folks think they can 'avoid bad credit" by not using credit, but as far as lenders go, no credit history is almost as risky as a poor credit history. It's always important to be generating positive data for your report every month, particularly if you have some prior credit issues. Hope this helps! Ted | 02.02.15 @ 06:48
Indeed, a secured credit card is the place to start. After a period of time, you should be able to convert it to a regular credit card although it will probably still be a $500 limit. You should regularly ask for limit increases. For a more significant boost to your score, you can, borrow against your own money from your bank an installment loan. Take the loan proceeds into another account used to pay yourself back. This will report on your credit and do good things. In addition, if you have family that you absolutely trust with a high limit revolving card, have them add you as an authorized user and from a credit score perspective, you will inherit their payment history and get a huge score boost. You can do this with no risk to them as they don't have to send you a card or give you acct info. Keep in mind, if they pay late, you get a late. | 02.02.15 @ 22:04
I myself have below Avg. credit.
You can do a search to find credit card issuers who can help.
The interest rate is high but!
Are you looking to establish credit?
Or? Slowly improve your credit history?
If you make your payments in full! On time!
Depending on the card issuer?
They can let the major credit reporting agencies know how you are doing. | 03.31.16 @ 01:42