credit cards for people with bad credit

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silasraven

Well-Known Member
had a bankruptcy and looking for advice on a card. ive got one offer from first premier bank out of south dakota. does anyone trust them or does anyone know of any bank or place that offers cards that you can use to build credit?
 
see4

see4

Well-Known Member
creditcards dot com. do a little research. if you make more than 150k a year, i know that chase offers a platinum visa, its such a cool card, made out of aluminum... my membership fees are a little high though..
 
sunni

sunni

Administrator
Staff member
not to be rude but do you think its wise to have a credit card when you declared bankruptcy?
 
kinetic

kinetic

Well-Known Member
I despise capital one, things got tight they went on the backburner. Went into collections, things got better it got paid off. One week later they send me an offer for a card. I mailed it back with the letters f.u. written on it.
 
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silasraven

Well-Known Member
to hot rod and sunni. the bill was $917,000 for medical junk that was not my fault. yes it is smart. otherwise id be wanting to buy a house years down the road and get no where. if i hadnt had that little issue id still be asking the same thing. im just looking to build credit from not having any. im not looking to get hit by another train. but id like to get my future going before i cant afford a home. easier to bounce by from stuff i had not part in then be a 50 yr old bum wondering why i never tried to build credit and buy a house. i can understand where sunni is coming from had i been a 19 year old shopping addict with maxed out cards and a beemer parked outside.
 
ClaytonBigsby

ClaytonBigsby

Well-Known Member
Weren't they the greedy pieces of shit, who started the credit card reform bill? I think they were charging 29.99% on people with bad credit, who had just filed bankruptcy because they knew they couldn't get out of the debt.
 
Flaming Pie

Flaming Pie

Well-Known Member
Best way to build credit is to pay your bills. Not get a credit card.

Electric, Gas, rent/mortgage, phone, internet.
 
kinetic

kinetic

Well-Known Member
Flaming Pie said:
Best way to build credit is to pay your bills. Not get a credit card.

Electric, Gas, rent/mortgage, phone, internet.
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except when you go to buy a house and they tell you your lack of open and revolving credit is bad for your credit score.
 
kinetic

kinetic

Well-Known Member
Flaming Pie said:
Well my credit is 620 so I think I am ok. And I bought a house.
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I was going through my credit union for the better rate and higher down payment, instead of the government loan program. My was only slightly higher than yours at the time. Got laid off in the middle of the close so it didn't matter anyway.
 
Dr. Greenhorn

Dr. Greenhorn

Well-Known Member
silasraven said:
to hot rod and sunni. the bill was $917,000 for medical junk that was not my fault. yes it is smart. otherwise id be wanting to buy a house years down the road and get no where. if i hadnt had that little issue id still be asking the same thing. im just looking to build credit from not having any. im not looking to get hit by another train. but id like to get my future going before i cant afford a home. easier to bounce by from stuff i had not part in then be a 50 yr old bum wondering why i never tried to build credit and buy a house. i can understand where sunni is coming from had i been a 19 year old shopping addict with maxed out cards and a beemer parked outside.
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get a debit card instead if your trying to build credit. a credit card is the last thing you want right now
 
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gioua

Well-Known Member
silasraven said:
had a bankruptcy and looking for advice on a card. ive got one offer from first premier bank out of south dakota. does anyone trust them or does anyone know of any bank or place that offers cards that you can use to build credit?
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credit cards are going to be the worst way to rebuild credit IMO...

people can rebuild their credit and banks forgive (yes they will make ya pay for it) just go about it slowly you got in debt slowly and you can get out slowly.

avoid all credit situations for about a year.. dont borrow dont apply... (when you apply for credit is shows an inquirty on your c.r which banks/lenders collection agencies use to judge or track you down


fwiw.. look up Clark Howard's total money makeover.....
 
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gioua

Well-Known Member
Flaming Pie said:
Well my credit is 620 so I think I am ok. And I bought a house.
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this just proves the banks are still ok lending... thanks FEDS


Excellent Credit

  • Credit score above 800
  • Excellent credit risk
  • Long credit history
  • Multiple established credit and loan accounts
  • No negative public records
  • Qualifies you for the best deals
Very Good Credit

  • Credit score between 750 and 800
  • Very low credit risk
  • Credit accounts paid on time each month
  • Qualifies you for some of the lowest rates
Good Credit

  • Credit score between 700 and 750
  • Low credit risk
  • May have had late payments in the past
  • All accounts are currently paid on time
  • Standard amount of credit card debt
  • Qualifies you for competitive interest rates and terms
Fair Credit

  • Credit score between 650 and 700
  • Moderate credit risk
  • May have older negative public records
  • May have higher credit card debt balances
  • May have too many applications for new credit
  • Qualifies you for decent rates, but not the best available
Bad Credit

  • Credit score between 600 and 650
  • High credit risk
  • May have of high amounts of credit card debt
  • May have late payments, collections, or bankruptcy records
  • Difficult to be approved for standard credit products

Very Bad Credit

  • Credit score below 600
  • Very high credit risk
  • Late payments, collection accounts, or public records
  • Excessive applications for new credit
  • Very high amounts of credit card debt
  • Very difficult to be approved for new credit without a co-signer or down payment
No Credit

  • No credit score
  • Considered a high credit risk by lenders
  • Have not been using credit cards and loans regularly
  • May be trying to open a first credit account
  • Better than having very bad credit
  • Qualifies you to be approved for accounts tailored to people with no credit or bad credit
 
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silasraven

Well-Known Member
ClaytonBigsby said:
Weren't they the greedy pieces of shit, who started the credit card reform bill? I think they were charging 29.99% on people with bad credit, who had just filed bankruptcy because they knew they couldn't get out of the debt.
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the oddest bet simplest of thing work on that, buy a couple packs of gum. from there buy socks then buy more gum. pay off everything with a cent left to pay. yah 30% suchs to pay but fuck its better then trying to buy a house or car and not having anything to back you up
 
see4

see4

Well-Known Member
Flaming Pie said:
Well my credit is 620 so I think I am ok. And I bought a house.
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you either got a tiny house or you put down at least 20%. no way you got a good sized home loan with a 620 score. ( don't get peoples' hopes up )

my first home loan was for just under 400k - I only put 25k down. My score had to be a minimum of 710 with absolutely no blemishes. ( my median score was 739 )
 
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