admin answers:

There are a couple of options… You can try a gas company card. They tend to be great at approving lower credit score applicants and helping them re build credit. Another is getting a secured card through your bank. A secured card is where you put down the money for the balance that you want , i.e. $300-1500 and the bank holds those funds and then issues you a credit card. You still make payments on the card if you use it just like a regular credit card. After a period of time making all of your payments on time (usually 6months – 1 1/2 year) the card will be upgraded to a normal credit card and your initial funds will be reissued to you. If you close the card or default on your payments prior to the card upgrade the card will be closed and the funds re issued to you. Another card that will approve a lower credit score is Orchard. Their website is orchardbank.com. Good Luck

admin answers:

Too many inquires can make all the companies start to deny you credit. You best bet would be to wait about six months then apply again. You could also apply for a credit card with a company like first premier or orchard, you can find those card and compare them at http://creditcardwarehouseonline.com They do have some fees attached but their acceptance rate is around 85%. Then that will show at least you got accepted and might not scare the other companies off so much. Get one of those cards then apply for another in six months.

admin answers:

You have to read the fine print on all credit card offers.
1st make sure it is a fixed interest rate.

2nd make sure that fixed interest rate isn’t just for a promotional period.

3rd check what that interest rate is. There are some that are just a flat rate and others that are more like variable rates because they are a fixed % on top of a variable index. It can be confusing.

Try to find the lowest rate available to you. As your credit gets better look for better offers and try to get that balance on the higher rate card paid off.

I wouldn’t apply for a credit card online unless it was from a company name I am familiar with, like Chase, Bank of America, Capital One, etc. You want to be as careful as possible because you have to provide your social security number and date of birth. All very sensitive information. Good luck!

admin answers:

Yes opening too many can hurt your credit due to the fact that the creditors all have to pull your credit history which brings your beacon score down every time. Also most creditors look at it as though you could feesibly go out and max out every charge card you currently have opened on any given day.

admin answers:

Because they make more money off of them. Because they are a higher risk customer, they can charge higher interest rate. The person will pay on their cc for a while, the cc will make a nice tidy profit. Eventually the person will default on their card, but often the company has already made enough off of them that they still turned a profit.