Yes, You Can Get Unsecured Credit Cards With Bad Credit!

By MF Calhoun

Have bad credit and want to get unsecured credit? It's not impossible, but you may pay a lot for the privilege. You can use an unsecured credit card for bad credit to improve your credit score if you pay it on time and don't go over limit. Even with bad credit, there are some banks which offer bad credit credit cards. Depending on how low your credit scores are, the problem you'll face isn't finding a credit card but keeping away from high interest rates, fees, application charges and more. By comparing credit card offers, you can find an unsecured credit card for bad credit to help you start to rebuild good credit.

You might have gotten some offers in the mail for unsecured bad credit cards for bad credit customers. While they might offer you a new unsecured card, they will also add outrageous fees, which can total over $200, just to open an account. Some of the fees they might charge are high yearly fees, an application fee just to process your application, monthly fees if you are late or go over your maximum credit limit, and of course they will charge interest rates from 10% and up. If you are late with a payment, expect to pay $20-30 or more for a late fee. and your interest rate will likely go higher by another 10-15% as well. Expect high penalty fees if you go over limit too. But not all lenders charge high fees and costs. Take some time to look around for multiple card offers, and compare the costs of each. Don't just apply for the first offer you receive in the mail.

One helpful step is to search for cards offered by large, nationally-known banks or other lenders. For example, Orchard Bank, a subsidiary of HSBC, offers a variety of unsecured credit cards for bad credit clients. Find two or three card companies and then choose the one with the best rates to apply to first.

Most card companies will review your credit history and credit score in making a decision, but just as important is your income, whether you are earning enough to cover your bills and how stable your job is. Sometimes, your income will override your credit score, but you'll probably need a W2 job (not self-employment) for at least 3 months with the same employer prior to applying. If you can show steady employment, a credit card lender will often approve a small credit line of about $300 to get started.

No matter who you apply with, you will pay higher interest rates on an unsecured credit card for bad credit. But you still can avoid accepting a card with overly high additional fees. So, keep looking for a good deal until you find a card that doesn't start you off with a balance of a few hundred dollars before you even make one purchase!

Most importantly, after you get your new card, be sure pay on time, and really make a dent in your bad credit. Very soon your credit score will improve, and your credit card lender will be able to extend to you a credit card with better rates and fees.

MF Calhoun writes about credit and debt topics for a variety of publications. Find out more about getting an unsecured credit card for bad credit at http://www.fix-it-yourself-credit.com/findbadcreditcard

Who Needs To Improve Their Credit Score

By Jay Bush

Have you ever asked yourself if you needed to improve your credit score. It sometimes amazes me how much importance our society put on those three little numbers that make up your credit score. Those three little numbers can save or cost you hundreds of dollars every year. A good score and you will receive lower interest rates on credit cards, car loans, and home loans. A bad score and those same interest rates will be alot higher and really affect the amount you pay for an item. You may not notice it in your monthly payment but there is a big difference in how much you end up paying for an item when that final payment is sent in.

So, you have a bad credit score or just want to improve your current credit score. How do you go about improving that precious score. The fist thing that most legitimate experts will tell you is to make sure you pay your bills on time. If you can not pay your bills on time communicate with your creditors to make arrangements to make some type of payment. Communication is the key. Most creditors will work with you when you are having a hard time making ends meet. If you continue to pay your bills when they are due over time this will improve your credit score.

Another important step to improving your credit score is verifying the information on your credit report. Order a copy of your credit report from all three credit bureaus. Verify that all the information on your reports are accurate and belong to you. Any information that is inaccurate, incomplete, or does not belong to you needs to be disputed with the appropriate credit bureau. All that is needed is to contact the credit bureau and let them know that you believe the information is not accurate. They have thirty days to investigate and report their findings back to you. If the information can not be verified the item must be removed.

The best method to improve your credit report and credit score is on time regular payments of bills. You do not want to be next in line to ask how do I improve my credit score.

Jay Bush invites you to learn more about credit reports and credit repair at http://www.creditreportimprovement.com. Find other articles and learn how to improve your credit at Credit Report Improvement.