How To Get A Credit Card With Bad Credit
If you're struggling with credit card debt, you're not alone
. At the end of 2008, the total amount of credit card debt that Americans held reached $972.73 billion, according to the Nilson Report released in April 2009. And the average outstanding credit card debt for households was $8,329.
The good news, of course, is that many Americans are working hard to pay off their credit card debt. If you have had credit problems in the past, now is a great time to start turning things around. You'll not only reduce your debt, you'll end up with a better credit standing in the eyes of lenders.
If you want to know how to get a credit card with bad credit, read on. These guidelines will help you get the right card. They'll also show you how to develop better financial habits. Here's what to do:
Check your Options
Getting a card when you have a low score can seem like an impossible task. You want credit in order to work on rebuilding your score, but lenders are hesitant to give people with a low score a loan or card. This then turns into a vicious cycle.
Lenders have recognized this problem and created options for those with bad credit. One of the most popular of these choices is the bad credit credit card. This option is appealing because it is available to nearly everyone, regardless of their score or history.
A quick online search will show you a variety of these cards. Many websites even have a separate section for bad credit credit cards. Click on them, and then read through the terms and conditions attached. This may be your best option if you want access to more credit quickly.
Change your Spending Habits
It's not enough to get a new credit card; you'll want to create new habits to really get ahead. Start by paying off any debt that you currently carry. Then avoid frivolously charging items to the card. Use it only when you know you'll be able to pay off the balance right away.
You'll also want to get a better grasp of your finances in general. Pay all of your bills on time, each month. Spend wisely and you'll be able to live within your means.
Turning your financial situation around can take time and effort, but it is not impossible. If it feels overwhelming, consider talking to a financial savvy friend or family member for extra support. They can offer advice and cheer you on as you make the steps toward a better financial standing.
Focus on the Future
Once you have your new habits in place, it will be time to think about the future. Consider the financial goals you want to meet in the next five or ten years. Perhaps you want to build up a retirement fund, put more money in savings, or get a different credit card. When you know what you want, write it down. Then break it down so that you can take small steps toward it each month. Over time, you'll be able to turn those financial goals into a reality. By then, you'll have your bad credit behind you and will be on your way to a better, brighter credit future.
by: Stephanie Andrews
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