Most people who have been denied credit cards for bad credit or debt do not know that they can go for a second chance. Doing this may increase their credit score, allow them to make purchases and lessen the burden of carrying cash everywhere. In addition, being denied a credit card that is needed for everything from buying groceries to paying rent can be stressful and even expensive. Here you will find out the best way to go forward with the biggest shot of getting approved for a card, once again.
Just how bad is your credit score
Why are you considering having a credit card after what you have been through? Everyone has their own reasons, but usually, lack of fund is the impetus. In all likelihood, among the reasons you decided to have a credit card in the first place is also because it is convenient and safe to carry around. If you had any other idea or alternative to solve things, you probably would. Many people with bad credits and huge debt say they ended up getting a second chance credit card after several attempts.
They did it regardless of their dismal credit scores. It is true that a few credit card issuers are willing to take risk and offer low limit credit cards for potential customers. For instance, retail stores such as Target and Walmart have the reputation of issuing credit cards for applicants with bad credit. The limit on those cards, however, may be a few hundred to thousand dollars, but any amount can be useful to cover your basic needs if you are really out of money. The best way to manage these cards is to charge a small amount periodically and pay them off on time or before the due date. This way you can maintain your score, even improve it eventually. Another place to hunt for credit cards with bad score is auto stores. Establishments like auto loans Richland SC have specific payment plans designed for customers having difficulty paying bills on time.
How to obtain a credit score
There are many ways to obtain your credit score information as needed for credit card applications, but the standard sources are the three credit bureaus. Other sources include, but not limited to:
- myFico.com
- creditsesame.com
- creditkarma.com
- wallethub
Some websites offer credit scores for free, just make sure that you are not subscribing to anything that you don’t need or giving out your confidential information to any of them. Also, many banks that people do business with offer credit scores for free, so take advantage of that feature as well. A few credit cards are aimed at people who specifically have a bad credit score. They might, however, carry a high APR along with an annual fee. Find out if the issuer can waive this fee. A quick internet search can come very handy to those who want to learn more about finding credit cards with bad score and debt.
