How to Score a Guaranteed Approval Credit Card

How to Score a Guaranteed Approval Credit Card 4.50/5 (90.00%) 2 votes

Below are tried-and-tested strategies that will help you qualify for and soon receive a suitable guaranteed approval credit card program:

Never jump on the first credit card program you will find. Always remember that one hasty decision can cost you excellent credit card deals, which might be offered by both offline and online card issuers.

So, instead of signing up for the first offer you will receive, you should take the time to consider all your options, first, before making up your mind.

Compare the features of the credit card with your needs, spending habits and budget, before choosing a program. Look closely at the interest rates, fees and charges, application requirements and procedures, credit limits, and other features imposed on a majority of guaranteed approval credit card programs available in the market. After all, such information can help you find the best program that will match your preferences and expectations. At the same time, your knowledge about the prevailing rates and terms of such credit cards can help you avoid programs, which carry suspiciously-good features. This way, you can reduce your risk of getting ripped off by unscrupulous individuals and credit card firms.

Submit just one application to the credit card issuer you think is the best. Bear in mind that filing multiple credit card applications with various card issuers can actually pull your credit score down. That’s because the more inquiries that will be made on your credit profile, the bigger the points you will surely lose from your current credit score.

This is main reason why we encourage you to set a limit to the number of credit card applications you will submit, with a certain period of time. In fact, it would be best to file just one application to the firm you think can provide you with the best guaranteed approval credit card deal.

Know what you’re getting yourself into, before signing your credit card agreement. Always remember that many-an applicant nowadays regret their decisions of signing their respective contracts, without reading first the terms and conditions that will apply on them.

So, to avoid having similar problems, later on, we suggest you carefully consider the stipulations of your credit agreement. Read the document several times. And in case you have questions, feel free to approach one of the agents of the credit card firms and ask for additional information. By doing so, you will most likely end up with a guaranteed approval credit card that will surely work to your advantage.

Resolve to pay off your charges completely and prudently. The only way that your guaranteed approval card will help you in rebuilding your credit history is if you will do your utmost to keep up with your monthly bills. Always remember that your payment history corresponds to as much as 1/3 of your credit score.

Hence, if you wish to regain your creditworthiness, as soon as possible then, we suggest you make it a habit to pay off your credit card charges, not just on-time, but also in full, each month.

About the Author

Liz Roberts is a loan consultant with NewHorizon Finance and has been providing consumers and business owners with financing since 1989. Join our mailing list for FREE tips on building and repairing your credit . We also have a list of recommended bad credit credit cards

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3 comments for “How to Score a Guaranteed Approval Credit Card

  1. AlexaJ.
    May 28, 2009 at 10:19 pm

    Which credit card is best for building up a bad credit score?

  2. winnable
    June 2, 2009 at 9:39 pm

    well said. I always ask to follow.

  3. winnable
    June 2, 2009 at 9:48 pm

    Have you stumbled into a debt hole or are on a brink of facing bankruptcy?

    If yes, then it would be very difficult for you to get any type of loan approved. The best way is to rebuild your credit score. Though it sounds tricky, it is not as hard as you are thinking. There are number of ways in which you can rebuild credit, but you just need to make yourself aware about how you will do this. If you are able to learn necessary steps and technique, you will be able to quickly rebuild your credit. The following are some of the ways to rebuild your credit following a bankruptcy:

    Take the benefits of a new credit card: The first step to improve your bad credit is to obtain a new card. With these cards, an amount of money which is equivalent to your credit limit is deposited by you with the bank or credit company much prior you receive the card. The reason for doing this is that if you are not able to pay your bill, the company will deduct it from your account. Once you show that you are regularly able to pay you bill, you can soon upgrade your regular card and the company would build a trust in you. The best part of secured credit card is that you get instant approval for credit but it requires small deposit to begin. But if you have messed you credit scores, this is quite difficult and risky as you would not like to put your assets as security deposits.

    Make all your payments on time: With timely payment, you will be able to improve the effect of bankruptcy on your credit report. Few late payment or minor misses may affect your credit report a bit but major late payment or misses a bad impact which may hinder your recovery from poor credit. Again this is difficult as you are on the brink of bankruptcy.

    Modify your personal budget and stick to it: One way is to create a monthly budget with main focus on controlling expenses and saving money. By making a habit of saving money and putting them in your bank account, you will not have to worry about money problems and will be able to pay on time. Again you cannot go beyond a certain limit; you can’t stop living after all!

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