Why Bad Credit Isn’t the End of the World

Saturday, January 30th, 2016

If your credit score is in the cellar, you may feel like it’s a problem you’ll never be able to solve. Having bad credit can affect much more than just your ability to get a great rewards credit card or a low-interest mortgage. It can affect your whole outlook on life, dragging you down with it into the depths.

But having a poor credit score isn’t the end of the world. Here’s why: you can always fix your credit. And no matter how bad your credit is, chances are you can still find a credit card that will suit your needs and help you rebuild your credit, too. Read on for four reasons not to despair if your credit is in need of repair.

1. It can always get better. Look at it this way: when your credit has tanked, there’s no place to go but up. Keep these five guidelines in mind: pay your bills on time, keep the amount you owe as low as possible, don’t apply for new credit that you won’t qualify for, have a few different types of loans, and don’t close your accounts. Those are the things credit bureaus look at when determining your credit score. The most important ones are the first two—pay all your bills on time and keep your debts low. If you need help, contact a consumer credit counseling agency. These nonprofit groups have people on staff that will help you get a grip on your finances and make a plan to pay down your debts. They’ll work with you to make it affordable, and help keep you stay on track with counseling and reminders.

2. Everything disappears in time. They say that time heals all wounds, and this is true of credit scores, too. Even if you have a bankruptcy on your credit report, it will come off in ten years—maybe less, depending on the type of bankruptcy. If you work to begin repairing your credit now and don’t get any more negative information added to your credit report, you’ll be able to have an entirely new picture within the next decade.

3. There’s a credit card out there for you. If you really need a credit card—maybe you need to be able to rent a car, or make hotel reservations—there is one for you somewhere. There are credit issuers who specialize in offering cards to folks with bad credit. They may have higher fees, and may not offer rewards, but they are available if you need them.

4. You can still use prepaid and debit cards. Do you prefer plastic to cash? It’s convenient, and many people are with you in your preference. Don’t worry; even if you are having trouble getting a regular consumer credit card, you can still get a prepaid card, or a debit card. Using these cards can actually be a very good thing, when you’re trying to repair your credit score. Because they use actual money and don’t have to be paid later, they can keep you from getting into more debt that you may have trouble paying off. There are lots of great options out there for people will all levels of credit, so have a look at the options and choose one today.

Latest Bad Credit Cards Guides

The Top 3 Ways To Turn Bad Credit Into Good Credit October 5th, 2017

Having a good credit score is essential if you want to do things like get the lowest possible interest rate on your mortgage or be approved for an elite rewards credit card. Some potential employers will even check your credit history before offering you a job. So, if your ...
Continue »

5 Ways To Pull Your Credit Score Out Of The Basement February 27th, 2017

If you’ve been turned down for a credit card you wanted, it could be because your credit score isn’t so great. A low credit score can shut you out of being approved for the very best rewards credit cards, the lowest APRs, not to mention a mortgage or other type of loan.
Continue »

Fighting Your Way Back After Divorce: Repairing Credit July 15th, 2016

If you’re separated, divorced, or facing a split in the future, you might know that your relationship is not the only casualty in this scenario.
Continue »

Why You Need to Check Your Credit Report Regularly June 8th, 2015

You might think you have good credit—and you could be right. But if you aren’t checking your credit report regularly, you might not know if there is something on your credit report dragging your score down.
Continue »

Great Credit Cards for Bad Credit November 17th, 2014

If your credit is below the “good credit” benchmark of 700, you might think the only credit cards available to you are “bad credit cards.” But if that’s what you think, there’s good news: there are many great credit cards available for people with no-so-great credit.
Continue »

Best Credit Offer
First Access Visa
Click the Compare link to compare the checked cards side-by-side at the comparison table.
Consumer Rating: 4 / 5
Horizon Card Services Horizon Gold Credit Card
Copyright © 2001-2018 BestCreditOffers.com All Rights Reserved.

*See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by BestCreditOffers.com. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

The BestCreditOffers.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

Disclosure: Not an access card.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.