Credit Cards Bad Credit Allow You To Get Your Credit Back On Track
Many Americans have poor credit. Of course, some people have poor credit, because they like to spend money more than they like to pay bills. However, that is not the case with most people who carry a poor credit score. A poor credit score is usually the result of a serious illness or injury. Credit cards bad credit allow you to get your credit back on track. They are second chance credit cards, issued to people who have low credit scores.
When a person’s credit score is affected by an accident or illness, he or she may feel as if there is no hope for ever having a good credit score again. After all, derogatory entries stay on your credit report for seven to ten years. This is where credit cards bad credit can help tremendously. If payments are made on time, more than the minimum monthly payment is paid, and the cardholder does not keep the balance at or near the credit limit at all times, having a card like this can boost a credit score by several points.
There are numerous credit card companies that offer credit cards bad credit. The cards are fairly easy to qualify for. Initially, the credit limits are set very low, but as you make timely payments, your account will be reviewed, and you credit limit may be increased dramatically. Most of these cards carry high interest rates and annual fees, but once you improve your credit score, you can ask for the interest rates to be reduced and the annual fees to be eliminated. The companies will, more than likely, comply with your requests, as they won’t want to lose you as a valued customer.
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