Tuesday, June 1st, 2010

Are their credit cards available to help increase low credit score?

Low Credit Score Credit Cards
carskan asked:


Many people need a credit card with a small limits of 1,000 or less who have credit scores around 500 or less. This will help weak credit individuals to make payments on time so that their credit score could increase.

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7 Responses to “Are their credit cards available to help increase low credit score?”

jessicablock Says:
June 3rd, 2010 at 11:40 pm

yes but it is a prepaid credit card for a while

evil_kandykid Says:
June 4th, 2010 at 9:40 pm

Yes. Capitol one will give pretty much anybody a credit card. There are also special credit cards, they are “secure cards.” Basically you put down a deposit, and thats your credit limit.

BTW you will not start off with a limit of $1000. Generally you get about $200-500 (if you are lucky) to start with. Then your limit will gradually be increased as you make your payments on time.

praitul Says:
June 7th, 2010 at 7:53 am

Orchard bank offers a card for people with low/bad credit.
I think you should be aware that the interest rates are always high on these cards after the initial introductory rate though. If you do this, the best thing is to never max the card out. Run it around 50% and always make your minimum payment on time. If you want to pay a little extra, that is also a good idea as well. Run the card for a year with it around 50% and then start to pay it off. When you get it to about 15-25 % of being payed off, make another purchase keeping it around 50 %.
You can also do this during the 1st year.
The bank’s tend to give you a higher credit score if you keep a rolling balance and don’t pay the cards off in full every time you use them.
The most important thing for you to remember is to never be late with your payment.

eric h Says:
June 10th, 2010 at 5:32 am

I’d go with the Capital One card, myself.

heybulldog Says:
June 13th, 2010 at 11:42 am

If you want my opinion and im sure you do. I wouldnt obsess with the I love debt score. The only thing its good for is getting into debt.

Don’t play the credit card game. They make all the rules and can change the rules in the middle of the game. Sooner or later you will start losing at the credit card game. Once you start losing its hard to get out of the game. High interest rates that can raise for any reason. Just read the fine print. Outrageous late fees and over the limit fees.
Not to mention Identity theft.

Of course the bankers and their loyal followers on here are gonna tell you different but,

Debt free is the way to be!

Dylana M Says:
June 14th, 2010 at 11:00 am

Orchard Bank or Crapital One will give you a card…they will charge an annual fee. Be aware of other cards that start with a $300 limit and come maxed out because they charge you an annual fee, a card set up fee, a monthly maintnance fee, and a fee for each breath you take durning the month of December. When I get these offers I stuff the prepaid return envelope with the offer torn up(removing my info ofcourse!) and all the junk mail I have lying around. Then I send it to the company free of charge. Thats what they get for trying to play me like a fool. As for the Orchard and Crapital One cards, they are great until you decide your credit is good and you do not need the card anymore. They will do anything keep the account open. You will spend an hour going back and forth with a rep wanting to cancel. They will wave the next year fee but will not offer to move it to “no annual fee” statis. So you will have to do that every year till you win the battle on the phone. They are also stingy on raising your limit. However it is worth it to get one because when you establish about a year of good credit with them, you will be recieving offers for no annual fee cards. Sometimes from the same company you are paying a fee to. And once you aquire one no annual fee card, make sure you never pay another annual fee to any one! Just be careful, it is all a game and if you slip once you could make your situation worse. Try for a Chase Freedom card. They seem to have approved me and all my friends with all different credit backrounds. No annual fee! Good Luck!

tw158 Says:
June 16th, 2010 at 6:33 pm

Try this site, it’s a great resource. You can sort offers by credit type. Check out both the “bad” credit section and the “fair” credit section. The “fair” section includes cards made for people who have credit that “needs improvement”

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