- Prove to card issuers that you can really afford it. To do this, you need to obtain copies of your pay-slips for the past few months. After all, such documents can help attest to the fact that you have more than enough funds for keeping up with your credit card charges, without compromising your personal or household needs. And such information can eventually help you make a compelling case for yourself, which will then convince firms to grant your request for a credit card for bad credit that comes with a reasonable spending limit or cap.
- Have a creditworthy co-signer. Do you have a close friend, colleague or relative who possesses a good- to excellent credit score? If you do then, we advise you to approach one of them, immediately. Then, explain your financial situation as well as your desire to take out a suitable credit card program. For sure, such individuals will be glad to help you out by letting you piggy-back ride on their good credit standing.
Always remember that the high credit score of your co-signer can help pull your rating up and thus boost your chances of qualifying for the credit card program you want.
An important reminder, though. The way you will handle your line of credit can have a huge impact on the credit history of your co-signer. Hence, to help him or her maintain his/her good credit reputation, you should do your best to pay your monthly bills completely and prudently. And don’t forget to abide by the terms and conditions of your card program so that you won’t incur additional fees and charges.
- Be ready to pay a steep rate of interest, especially if you’re keen on managing a credit card with a high credit limit. Bear in mind that such feature will help compensate the huge risk incurred by your card issuer in providing a high spending limit on your bad credit-credit card account.
Still, you should remember that by submitting on-time and complete payments, each month; you can look forward to a significant reduction in your interest rate, most especially if you’re willing to negotiate or haggle with your card issuer for such feature.
- Look for card issuers that deal exclusively with consumers who have bad or no credit. After all, with such firms, your chances of qualifying for and eventually receiving a credit card with a high spending limit will surely be great. In fact, if you’re diligent enough, you can even improve your chances of receiving a line of credit that comes with a very reasonable rate of interest and charges.
So, do take the time to consider what these firms are willing to offer. Then, use your knowledge of your needs, spending habits, and financial capability in deciding which offers to take advantage of, and which bad credit-credit card programs to turn down. This way, you will most likely end up with a credit card that meets your expectations and preferences.
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About the Author
Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. NHBS also has a list of recommended bad credit cards.