If you Want Credit Cards But Have Bad Credit

by : Max Anderson



A few years ago, when people applied for credit cards bad credit was like a death sentence. After all, the good credit card companies don't want to deal with someone who has a tarnished credit history, right? That's no longer the case. In todays world of credit cards bad credit doesn't have to be a death sentence. It's just a matter of knowing the road.

What Kind of Bad Is It?

The first thing you need to ask yourself is just how bad your credit really is. When applying for credit cards bad credit isn't always that bad. For example, someone who consistently pays their car payment and credit card payments late is going to have worse credit than someone who has an unpaid medical bill or two.

And Just How Bad Is It?

When applying for credit cards bad credit is never a good thing, but it's important to know just how bad your credit really is. You may think you have bad credit because of a blemish on your report, but if your score is still above 700 your credit is actually quite good.

If you're applying for credit cards bad credit might indeed limit your options. If your credit score shows that you're a high risk to lenders, you'll need to understand your options. The lower your score, the fewer options you have.

What Options Are There?

When it comes to credit cards bad credit can indeed cost you. If your score isn't too bad you might just qualify for a lower credit limit. If, however, your credit score is 550 or 600, you might have to apply for a secured credit card and you'll more than likely have to accept a credit card with an annual fee or a higher interest rate.

Know When To Say No

When everything is said and done, bad credit is never a good thing. However, that doesn't mean you should take abuse because of it. When applying for credit cards bad credit can bring the predators out like blood in shark-infested water. Don't fall for the games.

Never send in money to a credit card company before receiving your credit card and never pay in advance for the privilege of applying for one, no matter what line of foolishness the company tries to sell you. There are many who try to take advantage of those who already suffer from bad credit and their schemes can have you in worse shape than you're already in.

And remember, in today's world of credit cards bad credit can be an obstacle, but it's definitely not the end of the road nor is it the end of your financial future.