So your credit is bad… It’s not the end of the Mayan calendar!!Rebuilding your credit can seem difficult some times, but it all starts with establishing new patterns in your credit habits. As the saying goes, “it takes credit to make credit.” (Or something like that.) Bad credit can make it tough or impossible to obtain a regular bank credit card. But there are still options, and getting a new credit card is a vital step in your credit makeover.
First Steps in Credit Makeover
One consideration might be a secured credit card. Secured credit cards typically allow you to borrow up to the amount of money in your bank account, a guarantee to the credit card company that you’ll be able to pay off your charged purchases. Look for cards with low annual fees and no application fees, and some also offer the possibility for converting your card into an unsecured card in the future.
If not, the next step is to seek out an unsecured card from another source, like department stores, which typically offer easier qualification for credit. Demonstrating the ability to pay off those cards will give you the opportunity to be accepted for a regular bank credit card soon after that.
Making History One Payment at a Time
