Credit Card Big List

Before you start putting in applications for a credit card, do
you know what you are going to be able to get? The types of
credit card offerings you can be approved for will depend
immensely on the kind of credit history you have. While you
could put through a lot of applications, hoping one gets
approved, that too is going to have a negative impact on your
credit record. The better option is to take a completely
different route and know your credit history first.

Once you take a look at your credit history you may see things
are not as great as you would like them to be. You’re not alone.
Everyone hits a couple of bumps and snags in their credit
history and those can play out to be a big pain in the backside
when you want a new and beautiful rewards credit card with great
perks.

Deal with the fact that you may not be getting that card right
away. As a matter of fact, if your credit is bad enough, you
will likely only be able to get bad credit credit cards, which
are cards that have higher interest rates and lower limits. It’s
a start. You can build from there.

If you’re not sure what is causing your bad credit score here
are a couple of possibilities

Bankruptcy

If you have filed a bankruptcy, it will be on your credit report
for at least the next 4 years. That’s a pretty big ding to
overcome and you may just have to work on keeping the newer
credit records looking good until that one disappears.

Late Payments

Many people think missing a payment or two here and there is ok
as long as they catch up eventually. The credit card companies
disagree. They look at a missed or late payment as a show of
your lack of responsibility with their money. Just one or two
late payments can cause a big ding on your credit record.

Too Many Accounts

How many credit cards do you have in your wallet? If you aren’t
sure or have to think about it to count up to the number, you
have too many. Too many open lines of credit make credit card
companies uncomfortable. They don’t know if you are going to
suddenly charge to all the accounts and then be unable to pay
off what you owe them. All those accounts also reflect
negatively on your credit rating. Take out the credit cards you
are not using and close the accounts attached to them. That
means calling up the company and asking the account be
officially closed.

Once you begin the process of recovering your credit rating, you
will notice the offers you get are no longer just for those bad
credit credit cards, but also the rewards credit cards and
benefits cards you had been hoping for.

Author: Stephen Sikes