Getting A Credit Card With Bad Or No Credit
So you have decided that you want to get a credit card only you may have credit that is not so hot or even no credit history what so ever. Many consumers wonder how it is possible to build a credit history with no credit or credit that might not be so swell. Surprisingly enough it is very possible for consumers finding themselves in these two particular situations to begin building a solid credit history without having to have a traditional credit card.
A secured credit card would be quite simple for someone with no credit or less then perfect credit to be able to qualify for and receive. All you need to do is complete the application for the secured credit card and make the required security deposit. After those two steps are completed you are well on your way to building a solid credit history. Just keep in mind that you need to apply for a secured credit card that will report all of your credit activities to all three of the major credit reporting agencies.
Department Stores such as Sears and Macys will often take a chance on someone who may not have any credit and give them a credit card. So if your luck hasnt been great in applying for traditional credit cards try your luck in applying for a department store card to use as a tool to start a solid credit history foundation.
Many gas stations will allow people with tarnished credit or no credit history to have a gas station credit card. If you are in either of these situations try applying for a card at your local gas station to begin building a credit history.
These are just a few suggestions of steps that you can take to start building a credit history if your credit record may not be so good (or non existent). With a little creative thought and research you will be well on the way to getting the credit and the credit cards that you deserve.
Fraud On Credit Cards
Credit card fraud has become a major problem in modern society and it continues to steadily worsen. Credit cards are used in such a variety of ways, it makes it extremely easy for an offender to steal your card. There are precautions that can be taken, however, to prevent yourself from falling victim to credit card fraud. You should have your credit cards always with you for safe keeping. It is wise to tote your credit cards around in a vehicle besides your wallet.
Enclose them in something separate such as a business card holder, small container or little pouch. Here is a fact you may not know: Not every card involved in credit card fraud is actually physically snatched. Some thieves will use only the credit card number in their illegal ventures. Make sure you are alert with each credit transaction you make, and get your card back immediately after it is finished.Cyberspace has become a breeding ground for credit card fraud. You need to be cautious about the online companies and website that you supply your credit card number with.
Refrain from entering your credit card information into websites that you are linked to through emails. The best thing to do is to avoid giving out your credit card number online at all costs. If you must make an online payment, there are several reputable services that will allow you to pay without supplying your credit card information to a third party. Some larcenists will sink to any level to gain entry into your credit card information file. Many will rummage through garbage cans searching for credit card receipts or bill stubs with the complete account numbers on them.
These numbers are then used to purchase things over the internet or to create a new credit card using your number and credit information. Any document containing your credit card account number should never be left lying around, and although it seems a bit extreme, should never be thrown away unless completely destroyed. Checking your credit report periodically will alert you to any unusual activity happening with your credit cards. If you do find that unauthorized charges have been made to one or more of your credit cards, there are choices to be made and steps to be taken.
First off, you should call your credit card company and let them know that your credit card or credit card number may have been stolen and you want the card canceled. Now, the person who has taken your card cannot make any further purchases. Calling immediately will lessen your chances of having to pay for the charges made to your card and limit the amount of harm that has already been inflicted to your credit.
Establishing Credit with a Student Credit Card
One of the best ways to establish a credit report is to acquire a student credit card. However, there are a few things you should be aware of if you decide on this. One of this is the fact that your credit report will be kept and maintained by credit bureaus. Thus, whenever credit companies want to look up your credit history, they will contact these bureaus for it. Information on your payment patterns and outstanding payments for your student credit card, both good and bad, will be recorded here.
Essentially, no one can legally change the contents of that report and everything remains in there for up to a decade. Thus, it is important to maintain a healthy credit report by making payments on time, starting with your student credit card. Having a good credit report has a huge impact on loans and on future applications for other forms of credit services, including other credit cards. For instance, low APR cards are everybodys favorite but they are usually reserved only for those with good or excellent credit histories.
In order to acquire an excellent credit history, it is best to pay up your monthly outstanding balances before they are due. This may be harder to achieve if you are a student as you do not have steady income and therefore need to plan your expenditure accordingly. Use your credit card only when you really need it, and set payment reminders in your personal calendar each month.
Some students practice credit card surfing by using a 0% APR student credit card, maxing out the credit limit and getting a new card for their upcoming expenses. This does huge damage to your credit report as you are basically living off debt even before you have the ability to earn your first paycheck. Whats more, when the 0% APR term is over, your interest rates will escalate and your debt will snowball rapidly. At this point, your credit report will be tarnished, leaving you with a pile of debt that you struggle to pay off and high interest rates for future credit applications. Your only option now would be to adopt a credit repair strategy, which will most likely be painful on your ludicrous lifestyle.
