Charge cards for bad credit .

 

Charge cards for bad credit!  That doesn't seem to make much sense does it.  Try and name much of anything any more that does.  The following information compiled from an internet web site explains some of it.

Think of a secured card as a debit card that builds credit history. In other words, you aren’t actually getting a line of credit –you have to “secure” the card, you have to deposit the money like a debit card. However, unlike a debit card, every month it gets reported to the credit bureaus. There are several reasons why this is a great way to build credit. First, you can’t get yourself in too much trouble. When you have an American Express card with a $5k credit limit on it, you have to be really careful and responsible with it. That’s why they don’t just hand them out to anyone. You have to prove yourself. I know it’s easy to say, “Oh I’d be responsible with it, I’m not an idiot.”, and I’m not saying you are, but it’s very easy to get into trouble unless you have experience with credit.

. I got one of these several years ago when I was rebuilding credit and it worked out very well for me….More at How To Build Credit (Even When You Don't Have Any

Credit Card Issuers

Image by Philip Taylor PT via Flickr

Now days even if you have bad credit it is possible to obtain charge cards that will help you rebuild your rating by allowing you pay your installments on time