Is There Something Called a Bad Credit Credit Card?

Is there something out there called a bad credit credit card? Well, when a bank or Credit company such as Bank of America, Washington Mutual or Chase receive an application from you, they use a statistical system to determine whether or not to grant credit to you by assigning numerical scores to various characteristics related to creditworthiness. This means the creditor's measure of your past and future ability and willingness to repay your debts. This system is based on your credit history, which is a record of how you have borrowed and repaid debts. If this record shows late payments, skipping payments, exceeding card limits or declaring bankruptcy you are considered a person with "bad credit".

Then you're condemned, you're hopeless.. Nobody will ever lend you money or give you a credit card anymore, you may think but then you should think again. Even people with horrible credit histories who have been in a financial mess because of previous debt can get credit card offers. So, the answer to the question I asked in the beginning of this article is "Yes": You can get a secured or prepaid credit card.

Banks and other credit companies need customers, even thoses in a bad financial situation. So these secured or prepaid cards offers are specifically targeted to help people with poor credit, so that they too can have all the benefits that follows such a card.

What distinguise a secured card from an unsecured is that the card's account is usually related to a savings account. This is the way the card is secured. Let's say you have $1,000 in your account, then your credit limit will be $1,000. With this build in security, you will never be brought into a debt situation again. After using this card for a while, most banks or finance companies will gradually grant you credit that exceeds your saving account balance and you will at the same time repair your credit history. This bad credit credit card is a great offer, that you should take advantage of if you have a messy financial history and want to rebuild your credit.

Terje Brooks Ellingsen is a writer and internet publisher. He runs the website 1st-In-Loan.net Terje gives advice and helps people with personal financial issues like consolidation loan and how to apply online for credit cards

---

Consolidate Your Credit Card Debt

With the popularity of plastic money in the present age,... Read More

Debt Consolidation - Just Lump It All Together!

In a world where people use credit as much as... Read More

Is A Debt Consolidation Loan Your Best Option?

For many people the lure of easy credit has taken... Read More

Cutting Your Monthly Outgoing With Debt Consolidation

With consumer debt on the rise, many people have found... Read More

Financial Aid - When Should I Apply For?

Many different types of financial aid are available to you... Read More

Exploring Your Options for a Consolidation Loan UK

Whether you're wanting to consolidate your debt to avoid bankruptcy,... Read More

7 Ways to Consolidate Your Debt

If you are in debt, you have several options available... Read More

Guide to Debt Consolidation Loans

Here is a useful guide to Debt Consolidation Loans. A... Read More

Debt consolidation ? Options for Reducing Credit Card Costs

Americans are using credit cards more than at any time... Read More

Debt Consolidation Solution

Debt Consolidation is a solution that solves your debts. Debt... Read More

Before Considering Debt Consolidation

If you believe in the good in people then you... Read More

The Burden of Debt

Over recent years personal debt in the UK has exploded.... Read More

Credit Counseling ? Get in Line Now to Avoid the Upcoming Rush

Credit counseling is a valuable service for consumers who have... Read More

Finding a Reputable Debt Consolidation Company

If you are looking for a company that will help... Read More

Private Student Loans ? Dispelling The Myths

Private Student Loans ? dispelling the mythsIf savings, grants, scholarships,... Read More

Debt Consolidation ? Consolidate Your Student Loans Now!

The Federal student loan program has benefited thousands of college... Read More

Reducing Credit Card Debt

One of the easiest "things" that can happen in life... Read More

No-Cost Student Loan Consolidation

No-Cost Student Loan ConsolidationA no-cost student loan consolidation ? doesn't... Read More

Moving Debt Between Cards Can Save You Money

If you're like most people, you have plenty of credit... Read More

Debt Consolidation can Ruin Your Credit

Yes, Debt Cosolidation isn't a good idea and I'll tell... Read More

Shake off the Chains: Credit Card Debt Elimination is Easier Than You Think!

Feeling like you're on the brink of financial disaster? You're... Read More

Debt Consolidation for Homeowners: Saving Grace for Inept Borrowers

You cannot understand the importance of being a homeowner until... Read More

Debt Settlement Strategies

One of the most common social diseases remains dormant for... Read More

Open the Cash Vault Inside Your Home

Believe it or not, many people do not understand equity... Read More

Bad Credit Debt Consolidation Loans

Are you looking to consolidate credit card or other debt?... Read More

Reducing Debt Through Lower Interest Loans

It happens to the majority of us, credit card debt... Read More

Dangerous Debt Consolidation Loans

On the surface, debt consolidation loans offer cash-strapped consumers some... Read More

Are You Buried In Debt?

Are you having a problem paying your bills? Are you... Read More

What Your Mama Never Told You About Debt Consolidation Services

When someone is extremely deep in debt, and he or... Read More

Finding the Consolidation Loans that You Need

Consolidation loans can be very useful in a number of... Read More

Does Working With a Credit Counseling Organization Hurt Your Credit Score?

Credit counseling organizations do not lower your credit score when... Read More

How To Get Rid Of Debt Problems Step 4 -- How To Get Interest On Your Debts Frozen

The first thing to understand is that there is categorically... Read More

Going Debt Consolidation Way!

We are aware of the fact that it is easy... Read More