How to use unsecured bad credit credit cards to improve your credit

1. How to use unsecured bad credit credit cards to improve your credit Every year there are new methods of making purchases entering into the market. This year, Bitcoin made a big splash. One of my bad credit clients wished there were more places to use bitcoin since she is good at buying and selling it. Even makes a little bit on her trades. But right now, Visa, Master card and the other credit cards are still the payment method of choice. Even now it is possible to pay any bill online or even set up automatic payments where the account holder need not raise a finger. While obviously this is not yet foolproof, any dangers that exist are frequently outweighed by the convenience. The question becomes, how can a person with bad credit get ahead in a society that gives so many privileges to people with good credit. Credit cards with low APR are for the most part unavailable to consumers that have bad credit. But thanks to the mortgage crisis of 2007, credit cards for bad credit are becoming more common, and the availability is fast spreading. These bad credit credit cards can be a decisive advantage to consumers with a bad credit history, but if managed badly can do more damage than good. Most consumers manage their finances seriously while some people have poor credit as a result of unemployment or illness. Bad credit cards handled will keep a credit rating low, or make it worse. Bad credit cards can be used in the following ways to increase a consumer's credit rating: Monthly Use -- Make at least one purchase monthly on the credit card, and pay the balance off entirely. This offers a consistent stream of credit reporting on your account. This consistency is what creditors are searching for in a customer that is good. Keep a small balance -- Although any fiscal expert worth talking too will state to pay off your credit card balances as fast as possible, there can be a benefit from carrying one. Credit companies like clients to carry a balance for obvious reasons, so your balance as a result of this may improve. DO NOT carry a balance that will cause you to get behind in payments due to high APR.. Keep your credit utilization low. Don’t use more than 30% of your available credit. If you have a credit card with a low credit limit. Wait 6 months and ask for a credit line increase.

2. In 2005 Providian (a sub prime lender) sold off a lot of the customer base of it to Washington Mutual. As a customer becomes more credit worthy, they become more valuable to many creditors. Some bad credit credit companies will help clients build their credit up , and then sell them to another business to make a profit. This can be a fantastic thing for the consumer as well, as their new account will probably have better APR.. It's possible to have credit that's so bad that even companies that specialize in bad credit credit cards won't issue you a card. Secured credit cards become the only options left. These cards are secured by a security deposit and are often guaranteed approval since they only require that you be 18 or over and have the security deposit. With so many options available. It’s easy to rebuild your credit. BUT you must dedicate yourself to making on time payments and buying only things you need, not want.