Credit Cards for Poor Credit

Is there any hope for us people with poor credit? Absolutely! If you read my other post about rebuilding your credit, you will find that with some time and responsibility will get you there. But what about the catch-22. You get denied credit because you have poor credit, but you can’t rebuild your credit if nobody will give you a credit card.

There are several cards and solutions out there to get you on your way to rebuilding your credit even if you have poor credit. The first thing I recommend is opening up a secured credit card account. This is a credit card that you will need to deposit funds into (yes you earn interest) and the amount of funds you deposit is your credit line. You will want to make sure that the cards report to all 3 credit bureaus, to turn your poor credit into at least a good credit. I have researched several secured credit cards and the ones I recommend you look into are Orchard Bank, which has a secured and unsecured card. The other secured card I recommend is NMB or New Millenium Bank, gold card status, no credit checks, reports to all 3 credit bureaus, up to $10,000 in credit.

The nice thing about these secured cards is, especially if you don’t have a credit card at this time, is that you can pay at the pump, purchase online with your card, make reservations etc. Things you cannot do without a card. These secured cards are accepted anywhere visa/mastercard are accepted. Another cool feature, is you can load the cards through direct deposit through your employer, which makes it fast and hassle free. Most importantly, they report to all 3 credit bureaus, so you are rebuilding your poor credit.

For those of you looking for an unsecured card, and do not wish to deposit your own funds into a secured credit card account, there are a few credit cards that will approve you with poor credit. Orchard Bank, Tribute Mastercard, First Premier Bank and Centennial Visa are three banks that want to help you get on your way to better credit.

With a little time and some good payment history, your credit scores will go up and you will be able to get lower interest rates on loans and credit, and credit card companies will start issuing you unsecured credit cards with 0% apr’s and no annual fees. Having poor credit can be fixed, and the rewards of having good credit make all the work well worth it.

Please visit our Bad Credit Page for more offers

[tags]poor credit, bad credit, unsecured credit cards, secured credit cards, orchard bank, new millenium bank, imagine gold card, first premier bank, centennial visa, rebuild credit, credit bureaus, credit reports[/tags]