The girl is a geek.
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LOL.
No! Not unless you just recently filed for bankruptcy...then you will get inundated with offers....but taking those offers kind of defeats the purpose of bankruptcy and guarantees we will have to bail you out again( And when I say "we' I mean the other consumers who have to pay higher prices for goods and services because other people defaulted on their agreements to pay the companies back.)
A good rule of thumb if you have poor credit:
If you can't pay cash for it, you can't afford it! |
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?
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Credit Card. But be careful!!! Make sure you check if there is a fee for card and what the interest rate is. Credit card companys love people with bad credit so they can rip you off. You may only find a card where there is a fee. Just try to not charge a lot and instead of paying the min. amt due each month or the whole balance, pay alittle more than min. amt. due. This will bring your credit score up and you then will be able to get a lower interest card without a yearly fee. |
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$m¤¤v¥ £¤¢¤
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Well, it can depend. You can be approved for either one, but usually the types of loans geared for people with bad credit are usually bad news. There are personal loans (payday loans) that you can get, however the interest they charge is outright obscene to where it's borderline loansharking, while the "unsecured" cards for bad credit are bloated with ridiculous fees that eat up the available credit well before you get the card in the mail.
If you have to choose the "lesser of 2 evils", a credit card would be easier. Granted, it would be a secured credit card like one of the other posters mentioned earlier. But by placing the deposit upfront as collateral, you assume the risk, which isn't completely a bad thing. When you have something at stake (which would be the deposit in this case), it creates additonal motivaton and incentive to keep the card in excellent standing. Also, a secured card can also be beneficial because you can use your own money to "custom build" a repspectable credit card. And as long as you keep the balance paid off on time, usually after a year or so, the card converts to a regular card and more importantly, you get the deposit back. And actually, prepaid cards are starting to find ways in the credit building arena. Eufora and Ultra VX are 2 examples of this.
I posted many links to some secured cards and even prepaid cards that build credit, hopefully this will help out.
Good luck, and thanks for reading. |
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Gent
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If you do manage to get a loan/card (unlikely) you will be charged a very high rate of interest as you represent an increased risk to the loan company.
Try to go without loans for a few years until you get your finances in order.
Repairing your (bad) credit history takes years and will depend on you making loan/card payments on time (always).
Rule of thumb : if you must borrow to buy something - don't, unless it is for a a mortgage or to buy tools of your trade (which will help you to make money), therefore an investment.
Good luck and be patient.
Best thing to control spending is to write every purchase down on a monthly list and aim to reduce the spending as much as possible every month. |
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Terrence D
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no once youve got a bad cedit it is very hard they can check very easy an don't get a credit card save up and pay cash
if you can't afford it you can't buy it |
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Shana B
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In short, no. When you have good credit, you get tons of offers for low interest rate cards and loans, and you always get approved. With bad credit or no credit, they are taking a big risk that you won't pay back, so while you may still get approved, your interest rate will be very high. If your credit is really, really bad, you may not be able to get any credit at all. |
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dayakaur
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A credit card for sure.
Credit cards exist for people with bad credit.
They frequently have extra charges, a bank deposit or a high yearly interest rate but are a start for someone who wants to establish credit and their are many, Providian, Capital One and do an internet search. (at last these WERE a couple of them) READ the fine print CAREFULLY |
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wizjp
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no...that's why it's called "Bad" credit |
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Gizmo
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No |
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Dr F
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Personally I have found it much easier to get credit cards. My credit history has been in the dumps for many years. I think it is easier because the interest rates are much higher. I have also found if you only make small purchases with a card and pay it off within 30 days it helps improve your credit rating. |
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michala p
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it depends how long ago your defaults or ccj's were after six years they are taken off your credit history.
If your credit history is bad try going for a credit card that says they will take people with ccj's or defaults like capital one or vanquis capital one's apr is 34.9% vanquis is 39.5% their apr is higher as they are taking more of a risk taking on someone with bad credit history.
personal loans are also charged higher you have provident which go up to £500 on loans their apr is very steep but they have weekly payment terms and they don't mind if you miss one week because your tumble dryer has broken as long as you make the payment up the following week.
If you want a lower apr than the ones stated you need to pay you debts up and wait six years for your credit to clear then build your credit up again slowly so not to miss payments.
good luck. |
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icezkori
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i guess it's credit card... |
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mcmaddysmum
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Depends on why you have bad credit......
There are so many companies now waiting to pounce and supply people wit a credit card - that i think this would be te easiest - owever just make sure it doesn't lead to more Bad Credit |
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angel_eyes8869
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probably a credit card, local banks are less likely to give you a loan if you have bad credit unless you have a co-signer. |
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Tom C
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Actually yes, that is...if you have money to put into a secured credit card. Secured credit cards report to the credit bureaus exactly the same as regular credit cards. |
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GTW
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Check out www.fastcreditcardapprovals.com they have credit cards for everybody, GOOD, BAD OR NO CREDIT |
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