Fair Credit Rating Credit Cards Resource

Kile replied: "Fair/poor will not get you a good rate on anything. With 3000 you go out and work at McDonalds for a few months and then it will be gone forever. Good luck."

B replied: "If you can get a lower APR on balance transfer to another card then do it but read the fine print because they may say its low on transfers but if your late even once on you payment your APR will skyrocket, and if you have been making late payments on the cards you have now then that's where the high APR came from in the first place, whatever you do the most important thing is to get at least the minimum payment in on time every month."

Randy replied: "If I were you I would talk to my Credit Union. In most cases you can find a Credit Union in your area that you can belong to (see link in Sources). I would NOT go to one of those consolidation people (unless they were affiliated with the government). Most are out for themselves and trying to make money off you. If you do not have a Credit Union (CU) you can become a member of, then a bank would be OK. You have to be more careful with a bank because they are also a profit based business. CU's are not for profit organizations. Consolidating your credit cards into a single loan could help. Watch the interest rate and make sure you are not paying more. You might have to get a co-signer (if you can find one). Also, watch out for low teaser rates that will rise soon after you get your loan (or credit card). By missing some payments, you have probably hurt yourself so your credit score will not be good. Your current credit card interest rates may have jumped up too. (They do that if you start missing payments.) If your current job does not provide enough income to meet your expenses, you are going to have to bite the bullet for a while - lower your expenses and do extra work to get back on financial track. I think a Credit Union could help you with that. Do an internet search on "Credit Unions" to get more information."

Credit card co. "good" "fair" ratings. I have average FICO of 671? My fico are 671 Experian, 673 Transunion, Equafax 661. I think I'm falling between the fair/good credit rating. Trying to decide what credit card to apply for...don't want to ding my credit with too many hits. So what card is most likely to accept. Got a Bankruptcy and am self employed. Own home though.

question regarding credit cards for bad credit? I have fair to poor credit and currently have only one credit card, but want to add one more as part of my aim to raise my credit score over time. All the credit cards I have looked at for my situation so far come with annual fees. is this normal? should I expect a fee due to my low credit rating? i remember reading somewhere that you should avoid any card with an annual fee as it is basically a scam. who knows the facts on this? thanks.

Sweet Chocolate replied: "Take it from someone who has been there and done that. Do not go for the cards with annual fees. If you are trying to build a good credit history, I would check with the bank for a small sized loan and be good about paying that back. I wouldn't try for any more credit cards. They tend to get you into a lot of trouble."

CJ replied: "Go on Bank of America's website, they have a credit card for people who are trying to build their credit. It is a great way to bring up your credit score.."

alexa dion replied: "People with bad credit or poor credit are often face difficulties in obtaining a credit card. The fact is indeed true that their choices are limited when it comes to credit cards but, credit card issuers are increasingly offering financial products that specially cater to bad credit people. Bad credit problem can be caused due to a number of situations. The credit card choices available to bad credit people allow them to rebuild their credit history. Financial products that help bad credit people are prepaid credit cards or debit cards, secured bad credit cards, unsecured bad credit cards. Here we take a look at each one of them. Read more from:"

Jeremy P replied: "It will be almost impossible to get a credit card with 'no annual fee' if your credit is bad. Basically, you have to pay more for the opportunity to borrow since you pose such a high risk. It's not uncommon-- and it's not a SCAM if you have to pay annual fees. You can find a complete list of reputable credit cards for poor / no credit here: It sounds like you're on the right path to improving your credit score. Get a second card, carry small balances and always make your monthly payments on-time. Eventually, you'll be able to qualify for better offers with lower APR's and less fees. But for now, these are your options... Hope this helps. GOOD LUCK!"

B.B replied: "Orchard bank or Chase"

Smoovy Loco replied: "Jeremy's right. It's almost next to impossible to find a credit card without an annual fee even if you have good credit let alone bad credit. There are some cards (First Premier, Millenium, etc) that aren't really worth having because of the fees. Orchard Bank has cards that have cards with fairly low annual fees. Chase cards don't have a fee, but they're harder to get especially if your credit's tanked. Wells Fargo and Bank of America offer secured cards that have the lowest annual fees that I've seen for secured cards. Granted with a secured card, you'd have to put a deposit upfront in order to get the same amount in a line of credit, but usually you get that back after a year of paying on time every month and keeping the balance low. I posted links to those websites, including orchard for you to take a look."

goodwin b replied: "Hi, Have seen lots of people asking info on bad credits. Well, if you need to get your problem solved onarrange loans or other finance, and usually means you will pay more interest on any loan you take out. Better clear your badcredit now."

Justin C replied: "Normally these loans are more expensive than those offered to borrowers with good credit. The interest rates are higher because the lender bears higher risk. Adverse credit loans have more stringent repayment criteria than normal loans. Skip one payment on a bad credit loan and your rate will rise and you may even have to face a foreclosure."

Where can I get a $13,000 loan approved with a fair credit score at a descent interest rate? I just got turned down for a loan at Chase and I need to take out a loan for $13,000 to buy a car from my friend. I have a credit score of 670, pay about $450 in rent a month, make about $400 a week, and still owe a few hundred on my two credit cards. Is there any place I can go that will be more likely to approve a loan for me? And, is it still possible for me to get a descent rate?

shiprepairwoman replied: "Try a credit union. That is a lot of money to spend on your income so it might be hard to get a loan that size. Buying a cheaper car would leave you more in your budget for important goals like education, a home and retirement. Tying up your entire budget to pay debt will restrict your freedom."

Dr. Deth replied: "you're trying for too expensive a car for your wages,especially if $400/week is gross pay - look for a cheaper used car"

Freddie replied: "You may want to try talking with a local credit union. Because credit unions exist for the benefit of their members, you often can get better loan rates and terms than with large banks. Even with excellent credit, I would have paid at least 2% more interest on my car loan had I gone with Chase rather than a credit union. Credit union membership can be very easy to obtain. More and more credit unions are being set up with membership in a broadly defined geographical area. You may have to invest a small amount (usually $5) into a savings account. You might also take a closer look at why Chase declined you. For example, if there is derogatory information in your credit history, ie bankruptcy, collections, this may impede you from getting a car loan for a set period of time. Another factor may be the amount of payments that you are already making. A bank will evaluate you in part on how much monthly debt you have in comparison to how much monthly income your make. If you can't get approval for a loan through a bank or a credit union, then you might look into person-to-person lending. You may pay a higher interest rate in this arena, but there are lenders willing to overlook the factors that a bank cannot. One example of a company that facilitates person-to-person lending is prosper.com. Finally, or maybe firstly, consider your own financial situation. Do you "need" this exact car at this exact time? If you are stretching your budget, and banks are refusing your requests, this might indicate you have other financial issues that you should resolve first."

batman replied: "Try Prosper.com. You can make up any kind of sob story you want. Then when you get the money Prosper does not pursue you if you default. Check it, I have lost a ton of money there and am considering getting a loan and defaulting."

Ralph C replied: "Your best option is through."

S a l m a replied: "Todd , Credt Union is Your Target How ever I advice You to reduce the size of loan coz this is really too much , if you Need more choices offers and Facilities @ cheap low rates go to Only Best Deals , I am afraid I cant post the site link here so open Yahoo and type : Only Best Deals now in search results the first line a site called Only Best Deals open it and check the right green titles about Loans , listen Todd , You may use the top search box there which must lead you to the Best Loans Offers to compare between them . . . well I Hope This Help You . GOOD LUCK ."

john h replied: "I think a Credit Union is the best way to go as others have pointed out. There are a lot of them that now allow you to join as a member just by where you live. I found 3 Credit Unions I was able to join here. Good Luck!"

clarem replied: "Beware of advance fee loan scams! These are "companies" who will pretend they are able to give you a loan with bad credit or when others have turned you. Sometimes they even have a web site that looks "real." They offer you a loan, but tell you that b/c your credit is bad, they will need a few months of the payments up front as "security." Except when you pay that, you will never get the real loan because this is a SCAM and against the law. Never give your social security number to anyone but a legit bank. This is a terrible practice, because it preys upon people with poor credit or little money, looking for options. You are better off trying to get a co-signer with good credit and a good income to help you secure your loan through a reputable financial institution. But watch out for these advance fee loan scams b/c when you start searching around for "loans" and "poor credit" these are the types of things you will stumble upon - it sounds good but is a SCAM. You will NEVER have to pay upfront for a loan. "

Stupid Flanders replied: "670 is an average score. I don't think your credit is the problem though, but what your debt/income ratio would be when you buy the car. A credit union is definitely your best bet. They will be the most likely to lend you money and will offer the best rates. Many lenders will not let you take out an auto loan for more than 50% of your gross annual salary unless you have spotless credit or a very low debt/income ratio. Based on the numbers, the lenders would say that you can afford about a $10,000 car."

Best credit card for poor to fair credit? I'm currently trying to apply for a credit card. I need some help please! My credit scores are 590, 694, and 605. I would like and unsecured credit card that would help rebuild my credit, possibly with a lower interest rate. I have only had one credit card, when I was 18, and it's now "charged off." I also had a car loan that was always current and is now payed off. Which cards would you recommend?

Do you believe that the credit system is fair? In order to have great credit, it requires you to have open revolving credit (credit cards), open lines of credit, (mortgage or auto loans), limited number of hits on your credit, and an established time of payment. Someone who buys a house or car may have 25 hits on the credit without their knowledge. Is there really a more stupid way than this to rate a person's credit?

aj1908 replied: "Nope, its not fair, regardless of your ability to pay that is the way it is. If you ever want to make an effort ot make it better, contact your Congresspersons. Quite frankly they should just look at your income and budget, how hard is it to review a person's bank statement"

JoeSchmoe06 replied: "i think it makes complete sense. your credit rating is nothing more than a way of assessing the risk that you will default on a loan. since credit card issuers and other such lenders are loaning you money based only on your personal promise to pay (i.e., they aren't taking other collateral up front), they need to assess and price your risk of default. nothing shows that you are a low risk of default better than 1) having several types of outstanding accounts, and 2) paying them on time and in full every month."

dale replied: "Define fair.... I think it's fair in that it is applied equally to everyone who participates. Does it make sense? Perhaps not. Your point about the inquiries is a good one. It's important to limit the number of inquiries to your file. Generally getting a mortgage loan doesn't result in multiple inquiries, but often times shopping for a car will put a dozen or more inquiries in a single day. You build your credit file by starting slowly and paying your bills on time. Once you've gotten started, it's pretty easy to keep your credit clean and increase the credit score. It requires discipline and effort, but it can be done."

robert495713 replied: "The inquiries won't affect your score as much as you think. If you're shopping for a mortgage loan, you can have unlimited inquiries within a 30-day period and they all count as one inquiry. The credit bureaus changed it about a year and a half ago, they recognize that someone with a bunch of inquiries at once are not really a bad credit risk, rather they are just looking for the best deal. The same rule applies to auto loan inquiries."

tryinthis2 replied: "why would someone have 25 hits on their credit? do you mean inquiries? thats someone abusing their own credit. your credit is delicate. you cant inquiry because if you have a bunch of them it tells another one who may inquiry and NOT see the last company listed above as an "open" account that youre not creditworthy."

What credit card companies offer credit to those looking to improve their credit rating without a fee? Credit cards for fair/poor credit (Other than Capitol One) I should have added: All of my bad credit is in the process of dropping off. Most negative strikes are paid or at the 7 year mark.

Juanita replied: "Don't do it. You will be raped with high interest rates. Not many credit cards for people with poor credit have no fee. I recommend that you repair your current credit. Pay your bills on time and if you have anything in collections, establish if those accounts are due to fall off, or pay what you must. Learn to budget your earnings. You'll never have better credit if you don't changes the habits that got you there in the first place."

aj485 replied: "Do you have some money in savings? You could take out a savings secured loan from your bank/credit union. It will cost you a few more points in interest than your savings rate, but it will help build your credit up, if that is your goal. If you don't want to use CapOne, you could try WAMU or HSBC, although, depending on how low your credit score is, their cards may also have fees."

See Saw replied: "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."

starfairy181 replied: "try Hooters or juniper"

Jeremy P replied: "If you have fair / poor credit, it will be almost impossible to find a credit card without some type of fee. You can compare wide variety of offers to build or improve your credit here: Although most of these offers include fees-- they still give you the opportunity to prove your credit worthiness and build / repair your credit score. Eventually, with regular on-time payments you'll be able to qualify for better offers with lower APR's and no fees. But for now... you're limited... Hope this helps. GOOD LUCK!"

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