Is it Difficult to Get an Unsecured Credit Card?
If you’re interested to know the answer to the question above then, we suggest that you pay close attention to the discussion below.
The Answer NOT AT ALL! In fact, if you have good credit standing and you can prove that you’re financially-capable to manage a line of credit; then, your credit card application will most likely get approved. In time, you will receive a credit card that you can use for financing your purchases and for paying your monthly bills. However, if you have bad personal credit then, you might find it challenging to qualify for an uunsecured credit cards for poor credit. After all, most card issuers today are hesitant to extend lines of credit to those who have poor credit scores. Still, there are techniques that you can employ to boost your chances of getting the credit card you need. To learn more about these techniques then, we suggest that you continue reading the paragraphs below.
How to Qualify for Unsecured Credit Cards If you’re worried that your poor credit rating might get in your way of being granted an affordable unsecured credit cards for poor credit then, you should employ one of these strategies:
Clean up your report. Remember that a poor credit standing cannot always be attributed to poor credit habits. This is because having outdated or incorrect entries in your annual credit report can also pull your credit score down and ruin your chances of scoring affordable credit card deals.
This means that it is very important that you order your credit report and examine the items listed on it. Look for entries that might inflict severe damage to your credit standing such as outdated credit accounts, incorrect payment records, misspelled name or incorrect digits in your social security number, unauthorized charges and court judgments that are way past the statutes of limitations applicable in your state. If you find one of these errors, immediately write and send a letter of credit dispute to the bureau that issued the document. Then, wait for the credit bureau to complete its investigation. If it finds out that your claim is valid then, you can look forward to receiving an updated annual credit report that you can use in applying for the line of credit you wish to use.
Look for issuers of bad credit credit cards. It will be best for you to approach companies that cater exclusively to consumers with bad credit standing. After all, with such firms the approval of your credit card application is almost guaranteed, no matter how low your credit score might be. Still, you should remember that credit cards for bad credit tend to carry high rates of interest and fees and very stringent payment terms and options. So, you need to be very careful in evaluating each card program. In so doing, you can get a credit card that meets your needs and expectations.
Have a co-signer. In some cases, having a co-signer can work to your advantage, especially if your friend or relative has excellent credit standing. After all, the high credit score of your co-signer can pull up your score and thus increase your likelihood of qualifying for an affordable card account. Now, in case your application for a credit card gets approved, you should resolve to manage your account in the most responsible way you can. In so doing, you can cause gradual improvements to your credit history and you can help your friend or relative maintain his/her excellent credit reputation.