Ask Your Bank If They Will Approve You For A Credit Card
If you are having trouble getting a credit card from a credit card company, you should try asking your bank. Your bank may be more willing to take a chance on issuing credit to you if you have had a previous history with the bank for a considerable amount of time and have been able to manage your checking account without incurring overdraft fees or bouncing checks. Demonstrating smart spending habits will give the underwriters more confidence that you will repay what you owe on the credit card extended to you.
Apply For A Secured Credit Card Through A Credit Card Company
Other option for those with bad credit is applying for a secured credit card. With a secured credit card, the cardholder puts down a cash deposit that is used to cover the line of credit extended to them. The cardholder can spend up to the amount deposited and then repay the amount into the account over time, just like making a minimum payment on an unsecured credit card. Because these credit cards use the cardholder’s own funds as collateral for the credit used, many lenders do not use the person’s credit history as a major factor in determining approval.
Take Steps To Improve Your Credit Score
If you cannot get approved for a credit card through your bank and your application for a secured credit card is denied, you may have no other choice than to try to improve your credit score as much as possible before you attempt to apply again. Pay off any past due accounts you have and make sure you are paying all of your bills on time. The positive information will gradually begin to outweigh the negative information and your credit score will eventually rise enough for you to qualify for some type of credit card. Once you have begun to re-establish your credit and rebuild your credit score, you will qualify for better credit products with lower rates and fees.