Best Bad Credit Offers Available
If you have bad credit and are looking for a way to start rebuilding your credit, you have no doubt seen many recommendations about the best way to build or rebuild your credit as well as what credit cards and auto loan providers are the best providers available. You get recommendations for prepaid credit cards as alternative ways to rebuild credit (not true), promised that so and so offers the best card to help you build credit and more. Problem is that most these sites are promoting the product that pays the highest commissions and they are not really concerned about your welfare.
This site is owned by an individual who has been there and knows how hard it is to build credit after having bad credit. I know what it is like to be listed on ChexSystems and have bad credit while trying to struggle through life. I want to help those who are where I once was and I want to do this by showing you the best products available to rebuild your bad credit and will back up my recommendations with links to sites comparing my recommended products against the others.
Unsecured Credit Cards – Best Way to Rebuild Credit
Once of the best ways to build credit is with a credit card. It is easier and more affordable than biting off a $400 car payment every month for a car you really do want to pay for. interest loan. Now if you have been looking for unsecured credit cards, you realize that there are only a few cards that will do business with you. What you do not realize is that most of these cards are horrible deals and amount to nothing more than high fee-low limit credit cards. Cards like the First Premier credit card and the Continental Finance credit card will approve everyone, but your left with an available credit of only a few bucks after the fees. Cards like Merrick Bank and Applied Bank are some what better, but the interest rates are very high and they add on monthly maintenance fees as well.
So what is the best credit card available to help you rebuild your credit? Well it totally depends on your current credit situation. You should realize that you may be stuck with one of the bad high fee cards to start with, but manage your money right, pay your bill on time and you can upgrade rather quickly. Check out creditcardretriever.com to find out where you stand and what cards you should apply for. They do a very good job at matching you with the cards you will be approved with. Click here, fill out the quick application and find out what card you qualify for. Start rebuilding your credit now!
Bad Credit Credit Card Tip – Use your card to buy gas and other small purchases and pay the balance in full every month. By paying your balance in full, you show financial responsibility and you pay no interest. Also, this will help you quickly build your credit score.
What You Should Know
- Prepaid debit cards do not help you build credit since they do not extend you credit, but the right ones can be excellent banking alternatives. Check out the Account Now (low monthly fees and outstanding customer service) should you need a solid banking alternative.
- Secured credit cards that report as secured do not help your credit score because they are reporting as secured
- Catalog cards are worthless and you pay high interest on insanely marked up products
Bad Credit Auto Loans
After you have started the credit rebuilding process with an unsecured credit card and your credit score has started to increase, you should start looking to buy a car. The reason for waiting until after you have started rebuilding your bad credit with a credit card is because as your credit score goes up, you will be able to get a lower interest loan on a car you actually want. If you start with a car to rebuild credit, your tied in to a high interest and high payment loan on a car you really do not want. So what are the best recommendations for buying a car.
- Buy Used – You have heard before and it needs repeating again. Do not buy new. Instead let someone else pay the depreciation and buy a gently used car that is in good condition for huge savings off of the cost of new car. Worst mistake I ever made is buying a new car and it will never happen again. Paid for 7 months and the car was totaled in an accident and because it had depreciated, the loan was upside down and I had to pay money on a car I could not drive. Learn from my mistake.
- Buy Gap Insurance – Covers you in case your car is total lost and you are upside down on the loan. This insurance adds only a couple of bucks to your payment and will pay the loan amount up to market value and gap will cover anything over and you will not be left owing any money.
- Shop For The Loan – Do not use the dealer. You will not get a break and you will end up paying more than you should. Instead use a service like Web2Carz to submit a loan application. What happens then is that they will contact you and verify the information and then they will submit your bad credit auto loan application to their network of lenders to get you the best deal available. This is the best way to get an auto loan if you have bad credit. Think about it for a second. With the dealer you get one choice, the loan company they choose for you. If your credit is too bad, you may not get approved. With Web2Carz, you submit an application and they get you an approval from their pool of lenders who is willing to overlook your bad credit history. The chances for approval are better. Get more information here
Bad Credit Checking Accounts
To successfully build and manage your credit, you must have a way to manage your money. If you have been listed in ChexSystems or have bad credit, you know what it is like to live on cash. You need to start looking for a bank to manage your money. The sites below, have directories of banks that may offer second chance checking or bad credit checking accounts.
- Second Chance Checking – Directory of banks that may allow you to open a second chance checking account if your listed in ChexSystems or Early Warning Services – click here to visit
- Non ChexSystems Banks – Free information about non ChexSystems banks and credit unions near you – click here for more info
If your not comfortable with trying to open an account at a local bank, you still need to manage your money and the next best available option is the Ready Debit Control Prepaid Card
This is the best available option for those looking for a guaranteed banking alternative. The Ready Debit Control Prepaid Card is safer than carrying cash, you can use it everywhere Visa debit cards are accepted and you can get your pay or Gov’t benefits direct deposited directly to your card account as well as completely manage your personal finances and pay your bills on time with the free online bill pay. Check out some of the other features below -
No ChexSystems or Early Warning Services checks
FREE online bill pay
No bounced checks
No credit check or bank account required (ID verification required)
No overdraft fees
No minimum balance required
Monthly fee of only $3.95 (Control option)
WARNING – You should also be aware of any prepaid card that has fees totally more than $10 per month and services offered by NewBankAccount.net. They are charging you money to fill out prepaid credit card applications for you and do not give you a checking account. You get a prepaid card with online bill pay that are kind of expensive and are not any better than our recommended and cheaper offer the Ready Debit Control Prepaid Card, get more info here
If you have bad credit, understand that it happens and do not blame yourself. Move forward and use the resources and advice listed above to help you build your credit score and get on to building a better life. If I can do this, so can you and I hope that you will take my advice and start getting your life back on track. While your at it, make sure you start saving a little cash with a high interest savings account like those offered by Ally and HSBC. Does not have to be much, just get started and add to it regularly.