what is the best credit card for someone with bad credit that wants to try and re-establish their credit?
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It depends on how bad your credit is. Likely its going to be something with a very small limit and high intrest rate. Check with your local banks.
Both Visa & Master card have cards that work like a credit card….but only after you have put money in the account. You’ll be able to build a great credit history over time.
Good Luck.
Go to bankrate.com They have a list to start with. Find one with the minimum fees.
alternative. Look for a secured card with low fees. Try your local credit union.
Set up a bank account and get a debit card from your bank. Many are also VISA or Mastercard. Hopefully this will let you re-establish your credit. I suggest you put a low limit on the what you can take out and keep a healthy balance. If you just go crazy with plastic try doing without any cards for a few years and pay all your bills on time.
Look for a secured credit card, or get any card with no annual fee and just pay it off each month. Skip the minimum payment, pay the entire balance of the card and your credit will get better. If it was credit card problems you had to begin with.
Try household bank(.com I believe) I have very bad credit and very knee deep in debt and have many charge offs on my credit report(one from just a couple years ago) and they still gave me another chance a few months ago and now I see my credit score starting to get much better. Bear in mind, you will only start with a 200.00 credit limit, and you will be charged a fee for applying, which you will get back when you are approved, 35.00. After you are approved, you will be charge an annual membership fee, which will already be half or more of your credit limit. However, who cares about the fees? Just pay on time all the time and that is one of many many steps you can take to start fixing up your credit score. One person I met did the same with a card like this, and now his score is 700 or more, I cant remember, however, he had a repo and a foreclosure on his credit report already. It’s all about how serious you are about fixing your credit report. Good luck and I hope you are serious about this as well. Remember, discipline is the key to your success!
You can find a complete list of credit cards for people with bad credit here:
http://www.wowcreditcards.com/bad-credit.htm
I would highly recommend the Orchard Bank Platinum Card. It’s a very competitive ‘unsecured’ credit card– meaning you pay no security deposit. Plus, Orchard will automatically offer you their ’secured’ credit card if you don’t qualify for their unsecured offer. This means, you only apply once– but have the ability to be approved for several offers.
Hope this helps. GOOD LUCK!
Maybe you can try below website to get the information you need. It’s about secured credit cards to rebuild your credit articles for your second opinion.
In the past, if you had a bad credit history then you were unlikely to be able to get a credit card. However, prepaid credit cards are becoming increasingly available, and it doesn’t matter if you have had financial problems in the past. Although known as ‘prepaid credit cards’ these latest cards are in reality a form of debit card. There is no credit offered, just the advantage of being able to use plastic rather than cash. This is helpful for transactions on the internet, booking holidays and hotels and transferring money.
Application process Applying for a prepaid credit card is easy as there are no credit searches necessary, because the card providers are not offering you credit! The application is usually fairly quick and simple and in some cases the card issuers offer 100 per cent acceptance - you don’t even need to be 18 with some companies.
Prepaid credit card uses Not only can a prepaid card enable customers who find it hard to get credit, but this type of card can help you take control of your finances, if you have found normal credit card interest rates too high and the balance offered too tempting. You can be confident that you will stick to your budget with a pre-paid card, as you are the one who sets it by deciding how much to top-up your card with! Read more from: http://www.credit-card-gallery.com/prepaid_credit_card.html
Major credit card issuers like Discover, American Express and Chase offer a credit card for bad credit holders. A ’shopping’ card offers you an unsecured line of credit from specific sellers. Use these cards to increase your credit rating, since the credit bureaus will be informed about your timely payments.
Take care to ensure your credit is good by making intelligent credit choices. Keep low balances, do not be extravagant and take care to pay off your balances promptly every month.