Can I get a credit card when I don't have very good credit?

Question

I rent and have a checking account.

Answer 1

Yes, you can but you will probably pay a very high interest rate.  It is a great idea though, to start building your credit.  Keep your balances low and always pay on time!

Answer 2

Yes, you'll have to get a secured credit card.  Check with who you're banking with to see if they have one, but Wells Fargo has one, Capital One has one and so does Orchard Bank.

Answer 3

That's sufficient to get a secured card. Since you don't have sterling credit right now get a secured card to start rebuilding it. Apply with Capital One or Orchard Bank for say $500 or more if you can afford it. They'll hold the funds and issue your a credit card for the same amount. Be diligent in how you use it. Don't spend more than 25% of your limit, pay in full and on time. Within 6 months your score will improve and I'm sure after a year or 2 you'll start qualifying for better products. Make sure you address any other existing credit problems.

Answer 4

Major credit card issuers like Discover, American Express and Chase offer a credit card for bad credit holders. A 'shopping' card offers you an unsecured line of credit from specific sellers. Use these cards to increase your credit rating, since the credit bureaus will be informed about your timely payments.

Take care to ensure your credit is good by making intelligent credit choices. Keep low balances, do not be extravagant and take care to pay off your balances promptly every month.

http://debt-trap.com/category/Bad-Credit...

Answer 5

Depending on where you do you banking, you may want to check to see if they secured credit cards are offered. Most times, a portion of either your checking or savings account can be used as collateral to establish a matching credit line, for example, if you deposit $300, then the limit would be $300. You also have more control over the limit, if you want a higher limit, you can add to the collateral deposit, instead of being at the mercy of the credit card company to increase your limit, especially if your credit isn't good. The good thing is that as long as the account is kept in good standing the collateral is given back at some point later on.

If you are looking for an unsecured card, Capital One, and Orchard Bank are 2 of the better cards.

I hope this helps,

Thanks for reading and good luck!

Answer 6

your best bet would be to go for a card from orchard bank. See the site below which lists some cards for people with bad credit. See the bottom of that site for the orchard one that will approve you 100%.