| Just a few black marks on your credit report--a | | | | willing to pay a little bit more. In most cases, your |
| couple of late payments, an account that's been | | | | interest rate will be higher than average, your |
| "charged off"--can be enough for creditors and | | | | terms will be less lenient (such as a shorter grace |
| lenders to consider you a "high risk" customer. But | | | | period), and you'll probably have to pay an annual |
| even if you have less-than-perfect credit, you can | | | | fee of $40 or $50. However, if you're willing to |
| still get approved for a credit card! Here's how: | | | | accept these higher costs, you may be able to |
| Secure it! | | | | get approved for a credit card. |
| A secured credit card is available to almost | | | | Think small! |
| anyone, even if you've declared bankruptcy. | | | | Store or retail credit cards--like department store |
| Essentially, you "secure" your credit with a cash | | | | cards and gas cards--tend to have more lenient |
| deposit, which equals the amount of your credit | | | | criteria for borrowers. So even if you can't get |
| line. For example, you give the credit card | | | | approved for a major credit card, you may be |
| company a $500 deposit. Then you'll be issued a | | | | able to get a store card. And if you use it wisely |
| card with a $500 limit. Like any card, you'll make | | | | by charging only what you can afford and making |
| payments each month on any balance you carry. | | | | regular payments, it can help you build up your |
| However, it's a safer type of credit for the | | | | credit again until you qualify for a major credit |
| company, because if you fail to make your | | | | card. |
| payments, they have your $500 deposit. In many | | | | Try using one of ABC Loan Guide's |
| cases, if you use the card regularly and always | | | | Recommended Poor Credit Credit Card |
| make on-time payments, the company will | | | | Companies Online. |
| eventually raise your credit limit past that of your | | | | If your credit isn't the greatest, you may think |
| deposit. | | | | you won't qualify for a credit card. But, actually, |
| Pay more! | | | | there are a few different options that are |
| If your credit is just a little damaged--such as | | | | available to you. Just remember to use any credit |
| your credit score is just a little bit lower than | | | | card you obtain wisely--never charge more than |
| what's normally considered acceptable--you may | | | | you can afford, and make your payments on |
| be able to get approved for a credit card if you're | | | | time each month. |