RSSHow do I get a low interest credit card with less than average credit?
Dec 06
Low Interest Credit Card Credit Report, Enough Money, Interest Credit Card, Low Interest Credit, Low Interest Credit Card 6 Comments
My credit took a hit a little less than a year ago and I have doctor’s bills on my credit report too (not that many), but I want to build it back up by getting a credit card and paying on it. I’m making enough money to afford one, but the problem is getting one. Everywhere I apply has denied me. Any suggestions?
Dec 07, 2008 @ 06:04:53
Get a secured card. Bank of America offers one. You open a savings account with a minimum of $300 and that is your credit limit. After 18 months or so they will re-evaluate you and possibly issue you an unsecured card.
Dec 10, 2008 @ 13:02:10
With less than stellar credit, you will not be able to get a low interest credit card. HOWEVER, if you are going to pay it off every month, then it doesn’t matter what the interest rate is, because you will never have to pay interest. So instead what you should be looking into is a card with no fees even if it has a high interest rate. If you have been applying for cards online and haven’t gotten anywhere, try going to a local bank. Sometimes if you talk to them in person they will work harder to find a card for you. Just read the fine print to make sure there are no hidden fees!
Dec 13, 2008 @ 01:06:07
Get you Fico Score = myfico.com. Then you can go to = creditcard.com. It will tell you what your score will approve you for.
Dec 15, 2008 @ 15:53:58
If you are making enough, as you say, to afford a credit card, you need to be first spending money to pay off the medical bills collections. Call them. Sometimes, they will agree to a lesser amount as full payment. Be sure ALL # agencies, Equifax, Experian and Trans-Union all show these debts as satisfied once you pay them. Then, you are going to have to let some time pass w/ no negative reporting before you apply again and get a card w/ a better rate. AND, I have had them crop up again, even years later AFTER I had paid them, so keep proof you have done so and also get a copy of all of your reports again, just before you apply for a card. That’s really the only way. Also, a credit card, unless you save it for emergencies, can get you in a lot of trouble. You can very easily soon be wishing you did NOT have one.
Dec 17, 2008 @ 00:37:30
It will be kind of hard to get a low interest credit card, most likely you will have to start building credit again, check out and go under poor or no credit section get one of these cards and use it for a few months untill you build a little bit of credit then apply for a better one and drop this one.
Dec 18, 2008 @ 18:13:40
first repair your credit
Your credit score is based mostly on:
1. Length of credit history
2. Payment history.
3. Ratio of credit used to available credit.
4. Number of credit inquiries you authorized.
If you cancel your card, you’ll be hurting your credit ratio. (#3).
You want to deliberately keep your oldest credit card open, even if you never use it.
You want to always pay the minimums of each loan on time every month.
You want to keep your available credit high, but actually only have balances equalinig 25% or less.
You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans.
You do these things and your credit score will quickly soar into the 700s.
————————————————-