How To Get A Credit Card No Matter How Bad Your Credit Rating

Your credit is bad. Perhaps you have a string ofthat this is a better deal. Most often they are not.
unpaid bills haunting your past. Maybe you declaredCards with no annual fee almost always have a higher
bankruptcy within the past 10 years, or defaulted on ainterest rate. If you leave a monthly balance, you'll
student loan.All of the above can block your access toalways pay more than the annual fee in interest
obtaining a major credit card, such as VISA orcharges. Only if you never leave an unpaid monthly
Mastercard.But bad credit is not the only reason youbalance can you benefit form a card with no annual
can be denied a major credit card. Some peoplefee.==================
simply have never used credit. People who like to payPerks and Freebies
cash only, have never financed a car, taken out a==================One of those insidious ways is
college loan, or a mortgage may have zerothe offer such perks as frequent flier miles or annual
experience with credit. In that case, most cardrebates. Use the card so often, and get X amount of
companies will reject your application, not because youfrequent flier miles. Use your card, and get credit
have bad credit -- but because you have no credittoward the purchase of an automobile. Is this a good
rating.Many women who marry young and do all theirdeal? Hardly ever. As you might have guessed, the
borrowing under their husband's name often findoffer of rebates and gifts is simply an inducement for
themselves with no credit rating after they areyou to pay super high interest rates. Unless you are a
widowed or divorced. Thousands of women havebig spender and travel a lot, you'll rarely benefit from
been denied loans and credit cards on that basis.Stillthis kind of promotion.==========
other people carry too much debt to be considered aBe Choosy
good risk. If you have a car loan, a student loan, a==========In short, never sign up for a credit card
mortgage, two or three -- out cards, you are unlikely tountil you compare rates. Shop around. Credit card
be granted another credit card.But in any and all of thecompanies are just as competitive as any other kind
above cases, you can still obtain a credit card. Noof business. That means interest rates that vary
matter how bad your credit, and even if you havewidely. In general, never go for a card that is five
declared bankruptcy, you can still be granted a VISApercent higher than the current prime
or Mastercard with a limit as high as $5,000, if yourate.========================
know the right company to call, and how to make yourHow To Get A Lower Rate
application.We are going to reveal these card========================What if you are
companies and the methods by which you can obtainalready on the hook with a major credit card with an
a VISA or Mastercard later in this report, but first, let'sagonizing rate of interest? Pick up the phone, call your
talk about some of the other things you really shouldcard company, and get tough. Often, if you ask for a
know about credit cards, including annual fees, interestlower interest rate, you'll get one -- it's as simple as
rates, credit reports and more.==================that.As further incentive, you can threaten to transfer
Your Credit Ratingyour balance to another card company with a lower
==================How do credit card companiesrate. Many card companies are more than willing to
decide if you are a good credit risk or a bad credittake you on as a customer by paying off one of their
risk? Well, it's sort of a Big Brother thing. There arecompetitors for you. Of course, you are then beholden
several large agencies in America which track theto them. That's okay if you score a lower interest
borrowing and buying behavior of just about everyrate.=================================
single American who has borrowed money at oneHow Anyone Can Get a Credit Card
time or another.The four major credit rating agencies=================================Now what
are:CSC Credit Service :: (Phone: 800-392-7816)about all of you "hopeless cases" out there. What if
TRW Information Sys. :: (Phone: 800-392-1122)you have deplorable credit, or no credit rating at all.
Equifax :: (Phone: 800-685-1111)You may have already been turned down by a
Trans Union Corp. :: (Phone: 800-851-2674)When youhalf-dozen card companies. What can you do?First,
send in an application for a credit card, the cardyou should think long and hard about why you want a
company contacts one of the above agencies, whichcredit card in the first place. If you have a history of
pulls your file, if one exists, and let's the company knowbad credit, a credit card may be the last thing you
if you have any bad debts in your background.If youneed. Many people feel that credit cards and the debt
have never borrowed money or used credit of anythey lead people into is a modern form of
kind, your name will not appear in the data base of anyslavery.Credit cards are almost magically deceptive
of the above. If you have, there will almost certainly beand alluring. They get at the deepest psychological
information about you. If you have ever defaulted on alever of the human mind -- a lever which allows people
bill, or walked away from a debt owed, thatto have the feeling they are getting something for free,
information will be available. If you have neverwhen in fact, they are paying two, three, four, even ten
defaulted on a loan, but have made frequent latetimes as much for that product because of the
payments, that is recorded, too, and goes against yourinterest they will pay on each purchase.On the other
credit rating.======================hand, not having a credit card is becoming less and
25 Percent Error Rateless practical in modern America. You can't rent a car
======================If this sounds a bit like Bigwithout a credit card. Carrying cash is dangerous.
Brother, most would agree with you that it is. It's scaryChecks are not accepted everywhere -- and traveling
to think that some large anonymous corporation isto another city or country is extremely difficult without
keeping a file on you, but it's true. Furthermore, they willthe confidence and identity a credit card
share your file with any lending institution that wants tobrings.===============
know something about you. That's the price you payA Secured Card
to obtain credit. You've heard the statement, "there===============If you decide you really need and
ain't no such thing as a free lunch."When it comes towant a credit card despite your past problems with
the game of credit, the lunch is definitely not free,credit, you should get what is called a secured credit
neither in the monetary sense, or in the realm ofcard. Even people who have declared bankruptcy are
personal freedom.To top things off, credit agenciesgranted secured cards.A secured card works this
make errors in as many as one-fourth (25 percent) ofway: you pay a lump sum of cash upfront either to
all their reports. At this minute, false information aboutyour bank or the card company itself, usually from
you may be ruining your credit rating.To check your$200 to $2,500. The card company will then grant your
credit rating for errors, call the agencies at thecredit for up to 150 percent of the amount of your
numbers I provided above. They will request that youdeposit. If you pony up $500, you will be granted a
send them a written letter asking for a copy of your$750 credit line. If you put up $1,000, you will get $1,500
credit report. They will send you a copy of thein credit, and so on.Your deposit money will earn a
information they have about you.Now let's look at howvery nice 4 to 5 percent interest while it is held as
card companies make the big bucks -- interestcollateral by your bank or the card company. The
rates.===============deposit money acts like a buffer for the lender. In the
Interest Ratesevent you default on your card debt, the lender gets to
===============A few decades ago there werekeep your money. They may still incur a net loss, but
laws against charging the kinds of interest rates creditthe risk is far less.Additionally, the interest you gain on
cards get today. Exorbitantly high interest rates wereyour deposit will offset the interest on your monthly
called "usury," and were forbidden by federal law. Justbalance if you have one. If you get a secured card
30 years ago loaning money at 20 percent wouldwith an 18 percent interest rate, you can feel good
have landed any banker in prison. Such rates were theabout the fact that your pre-payment is earning 5
territory of loan sharks and organized crime.Today,percent.Which card companies offer secured credit
however, it's standard business. Some cards havecard plans?The following:
rates approaching 21 percent. Some product(At the time of writing, these details are correct. If
manufacturers, such as Apple Computer, have creditthey change by any chance, you'll have to look up the
plans that push a whopping 23 percent.Most creditinstitutions in the Yellow Pages, or simply do a search
card companies attract customers with super lowonline.)CitiBank -- Minimum deposit is $300, which earns
interest rates, sometimes as easy as 5 percent. But4%.
what they only tell you in the fine print, which fewCall: 800-933-2484Federal Savings Bank -- Minimum
people bother to read, it that the interest rate jumpsdeposit is $250, which earn 2.5%.
back up after six months. Many cards that start youCall 800-285-9090Orchard Bank -- Minimum deposit is
out at 6 percent soon jump to 18 percent, or higher. By$400, which pays 4%
that time, most people have chalked up a balance andCall 800-873-7307Key Federal -- Minimum deposit is
are stuck. Most people simply fail to notice when their$300, which earns from 4% to 5%.
rate increases. Credit card companies count on that.Call 800-228-2230Signet Bank -- Minimum deposit is
They like who take no interest in details. If you don't$200, which earns 5%.
watch them, they'll watch you -- and your wallet -- andCall 800-333-7116.Using a secured credit card can also
dip into it in the most insidioushelp repair your credit rating if you use it responsibly
ways.====================over a number of years.Even if you do not have bad
No Annual Fee Cardscredit, a secured credit card is recommended for
====================Some credit cardanyone who wants the safety and convenience of a
companies charge no annual fee for use of their card.credit card. Secured cards are a safe, responsible
Annual fees range from $18 to $55. You pay it everyway to control your spending, and you actually earn
year simply for the privilege of using the card. Othermoney though interest on your deposit while you enjoy
companies charge no annual fee. You might think, then,the use of your card.