Credit cards » Credit cards and bad credit

Those with a tainted credit history can still get credit cards. However the deals may not be quite as rosy as some.

Late payment and credit score

If, in the past, you have made late payments or found yourself unable to pay back your debts at all, you will now be seen by banks as a risky customer. That means that credit card companies may not want to offer you their best deals.

So, if you have a poor credit score, you can get rejected for card applications or end up paying high rates of interest. For this reason, it’s worth checking your credit score to make sure there aren’t any errors on your file.

How to get your credit rating into shape

If you do have a poor credit rating, the good news is, it may not take more than around six months to improve your score.

In order to get back on track you must not miss any bill payments, and start clearing your debts. It’s also wise not to apply for any more credit during this ‘get into shape’ period.

As always, there are companies out there who will try to make a quick buck out of vulnerable people. Stay clear of companies promising to repair your score. Credit report information can only be amended if data is inaccurate, and the credit agency will not charge you for this.

If a lender rejects your card application, try to start a dialogue. Find out why they have turned you down, and try to work on that problem. It may be something as simple as not being on the Electoral Roll – so it really is worth finding out.

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