Best Credit Cards For bad Credit

credit cards for bad credit

 

If you have bad credit, and want to get the best credit cards, actually there’s a way! though I am not saying it would be easy since many company don’t wanna make business with bad People!(oops) I mean bad credit!

Most of credit card company actually prefer with people with good credit! the reason simply because low risk business!Β  but some company targeting market to people that have bad credit! but no matter what! that company will not give you any advantages to use their credit cards! at least most of them already suspicious to you, from the first beginning! πŸ˜‰

don’t trust me ? see their APR! credit cards company that allow people with bad credit most of the times, have ridiculous APR! e.g 30% or 36% imagine if you can’t pay your debt ? yep! in just less than 3 year, your debt will be 2 times! secondly, their credit limits! most of them will give you low credit line! such as $500, $1000 or something like that! meanwhile their annual fee for cards are about $150! πŸ˜‰ what you think about that ? yep! it’s a fcking Joke! limit $500, annual fee $150 πŸ˜› yeah right! in short unless it’s not to urgent don’t apply with cards that have low limits, and high annual fee!

I know what they doing, and why they do that! basically to minimize their risk! because we all know bad credit mean, you have problems dealing with debt management! in short bad credit mean bad people! πŸ™‚Β  but here my suggestion, if you don’t want to deal with this kind of company!

First of all, there’s no way you can get good offer with bad credit!Β  and most of the time your cards limit will be nonsense! if I were you, it will be better to build your credit rather than force yourself to get credit cards, with bad credit! because it will be useless! and also wasting a times! so what the deals ? well, you can start to apply with secured credit cards! build your score, fix your attitude, pay on time, and don’t use credit cards, if it’s not important or make profit!Β  in short you only use credit cards if it making money! after all secured credit cards mean your money at stakes! so use it wisely, and don’t buy some stuff at wallmart using credit cards!

and to be honest, shopping at wall Mart using Credit cards, are not Cool! because it’s like saying ” hey I want to buy this stuff, how much ? okay, i will pay later :P(dfuck)” but if you need something urgent, let say you need money for funeral or family to pay hospital bills! that’s okay! because you spend money for good stuff! and there’s a chance that your wealth could increase! (my friends said that)

 

secondly! use credit cards, to build score! not to repeat same mistakes! it mean, use it wisely! and if you find good deals, or maybe small business to make small profit! then why not use that cards! the idea is, when you have debt, pay on time, or make a loans if it make you money! because for long run, that credit cards, could help your financial situation! but if you just use credit cards, to buy some stuff, I don’t think it will be last forever! πŸ™‚ well, of course, if you rich people, that would be different story! but to be honest, I never heard rich people have bad credit πŸ˜› lol!

Do you know what I said rich people don’t have bad credit ? πŸ˜‰ because they know, a credit cards are not profitable! and most rich people! just FYI! actually all of them are cheapskate πŸ™‚ it’s! if you not believe me, you can test! ask them to do something, buy you some stuff or anything! you’ll be surprise with what they doing πŸ˜‰ lol!

To honest with you, I never believe when my dads, tell me, all rich people, basically are cheapskate! because, it’s not logic if people have a lot of money then act cheap ? right ?Β  but it seem my dads, was right ? they all fckng cheapskate! πŸ˜€ huahahah! ok bac to topic!

Build score mean good offer will come to you! most of credit cards company for sure, happy dealing business with people that have excellent credit! why ? first, people that have good credit, never late to pay their debt! secondly, they hate to make loans, last is! they don’t like to use credit cards! because smart people actually don’t need credit cards! because if you have money why you need credit cards ? because obviously credit cards, will charge you 20% APR ? but of course, at some point, we need credit cards, to use it as emergency budget! especially if it’s really urgent! but using credit cards, to shop at department stores! actually are bad Idea πŸ™‚ so in short don’t use if it’s not to important!

Okay, I think I going to far! so lets short this things up!, most of company basically will use FICO score as their standard to decide whether you have good credit history or not! if their depend on fico, your best bet to learn about how FICO score works! if we talk about how FICO score, actually they have 5 important factor that you must pay attentions!

First is, payment history! it mean never late to make payment! secondly, Amount Owed! it mean debt utilization! third is, Credit length! it mean how long you dealing with debt/credit ? fourth is, Credit mix! it mean, do you pay other loans, such auto loans, mortgages, personal loans and etc, on time ? if not! you will get lower score! and the last part is, New Credit! it mean, do you often to apply credit card, with other company ? if yes, then it could be suspiciousΒ  πŸ˜‰ because why the heck you apply with so many cards πŸ˜€ what for, what purpose ? must be bad idea in you mind πŸ˜‰Β  to be honest, these 5 factor with FICO, actually to make assessment with your character to deal with debt! because most of banks, willΒ  put heavy weight on 5 C! but in short, they believe character are the number 1 to decide whether you good or bad dealing with debt!

the rest such as capacity to pay your debt .eg business, salary and etc, and asset as warranty are the last list on their mind! because credit cards are loan without warranty, so as long you have jobs, to pay your debt! that’s it! you can get credit cards! but they will not easy on, you if you don’t have good credit score! because they believe when people have money, doesn’t mean they good dealing with debt!Β  because if your debt exceed more than 25% ofΒ  incomes ! for sure, you will having difficulties to pay your debt every month πŸ™‚ but problems is, they don’t know about your drama! who to know everyone drama anyway πŸ˜€ that’s why they use FIco or Credit history to decide whether these people are good or bad for business πŸ™‚

so the conclusion is, fix your credit, to get best offer from credit cards company! otherwise you only wasting a times, with credit cards that have low limits, with High annual fee !

Credit Card To Start a Business ?

credit cards for business

 

Is it wise to use Credit card to start a business ? well, getting funds to start business, to be honest it’s not easy! because when you start a new business! mean, nobody want to know your drama πŸ™‚ as simple as that! so I am not surprise , when warren buffet or Bill gates starting he’s first business many people laugh hard on him! it’s true! and unfortunately it will apply to your business journey! πŸ˜‰

 

The point is, starting new business are not easy! but still we felt it’s gonna be our success! (I know how it feel)Β  since nobody give you a fund or capital to start a new business, so basically yeah, I think Credit card COULD BE! a good Idea! although it’s not recommended by many people! doesn’t mean using Credit cards, to start business are bad idea!

Though I have to warn you! before using any credit card to getting a fund for business, you must realize the interest rates, are quite big! and if your business fail, it can make your loss double, or triple! that’s negative side, for using credit card for business!

Though I can give a suggestion, if you want on safe side, here what you should do to avoid double loss, or triple loss, from credit cards!

 

First, Find best APR or interest rates, that credit card company can offer! the idea is, if your business not success, or fail, you still have time to pay the interest rates! that’s why small APR, will help you for long run! but if you use Credit cards, from best buy or wall mart credit cards! to be honest, I can said, it’s big No no!

actually you can find Low APR credit cards, if you do business with credit union! try find them in your area! join with them and get their credit product! such as, personal loan, auto loans, credit cards loan and etc! Credit union can give you a half APR from averages banks! most of credit cards company have best APR about 14% , meanwhile Credit union have 5%-10% APR , so if you business fails, and your debt are to big to pay off, at least it will need 10 years to double your debt! but if you dealing with commercial credit cards, it will most likely, in the 2-4 year, your debt will be 2 times, than previous! that’s why don’t use commercial credit cards to finance your first business!

To get Credit cards from credit union, for several cases are not easy! since they have so many rules and restriction! that’s why it would be great, if you already do business with them, for many many years! because most of credit cards, can give you much lower APR if you have good credit history! but for new creditor, or maybe bad credit! most likely they will give their standards APR from 10% to 16% APR!Β  but the point is, build your credit score first! for 1 or 2 years at minimum! and then use that history to get decent capital with low APR! and for sure, low APR can help you a lot for long run! and not to mention, if your business having big success, and need more larger capital to smooth your cash flow! πŸ˜€Β  for Sure low APR can benefit your business over the long term!

In short using credit cards to start a business are possible! though you need to find right the best finance institution to get lower interest rates (APR), cause low APR mean big help for your business!

 

How To reduce Credit Card Debt ?

how to reduce credit card debt

 

to be exact actually the method can not decrease your credit cards, debt! though with this method actually you can save hundred or even thousand dollar from credit card debt! the method basically are quite easy! because what you need is to find better APR or even 0% interest rate! most company will give you intro APR from 12 month to 21 month 0% APR!Β  and if you transfer your credit card debt, for sure it can reduce previous interest rate, and other hand you also have more time to pay off you debt! without addo lets get to the point! πŸ˜€

First is, Find credit cards that have better APR, lower, or even 0% APR i.e Intro APR promotion! if you can ask high limit with new cards! because what you need is pay off your total debt, from that new credit cards! the idea is to focus in just 1 cards, and other benefits is, you can get 0% interest rate and also more time!

If you already find perfect credit cards, with 0% APR, low Regular APR, and also intro APR for 21 month! pay off all your credit cards debt from that cards! at first you have to pay fee transfer balance about 3 to 5%! but still you can save money because pervious APR are about 20% APR! so if you transfer your debt to new cards, that have 0% interest rate it mean you can pay your debt a little bit lower!

My suggestion to find better credit cards fee or APR, is you must do business with credit union! because most of them can give you lower APR such 5-10%! meanwhile most commercial banks their best APR are only about 14% if you lucky you can get 5% APR with credit union! good news is, some credit union will have no fee with transfer balance! it mean you don’t have to pay transfer balance fee when you pay off your old credit cards!

If you already being member with credit union, try another solution, and not pay credit card debt with new credit cards, instead choose personal loans! because interest rate for personal loans are about 5%! for 36 month billing cycles! it mean you not only have 12 month or 21 month as your limit to pay off your debt! instead you have much longer time!Β  these kind of practice basically some people do it, and most personal loans company such as credit union, don’t mind if personal loan to pay off your credit cards debt, because it’s normal business practice!