Wednesday, August 09, 2006

Obtaining a credit card with poor credit is doable

Scott is the founder of This site and the author of Credit Card and Debt Management, How to be more Credit Card and Debt Smart and Talk Your Way Out of Credit Card Debt.Worldwide, members of frequent-traveler programs with airlines, hotels, car rental companies and credit card providers earn more than 650 billion miles and points per year, according to stats on If you belong to a credit union, you should also check the credit cards they offer to their members. Don’t use obvious numbers like your birthday, part of your phone number, or any number that could be easily related to you by someone who doesn’t know you well. Howard Dvorkin, author of Credit Hell: How to Dig out of Debt and founder of Consolidated Credit Counseling Services, an organization that provides education on debt and a debt management program, says that according to one survey consumers are exposed to 300-400 advertisements every day.

Is the job you have steady and pay well enough to support a credit card, especially if you carry a balance on other cards already? Now to make it even more confusing, Experian, Transunion and Equifax have decided to interpret their credit scores by using a scale they have created which is different than the industry norm. The age of your account relationships makes a difference, so if you're closing out the old cards, your current creditors don't have a long payment history. It is amazing how one can for bad credit credit card debt management do everything here.

It tracks the card industry. Conversely, this is why it is attractive to lenders, because their experience has shown them very few borrowers default on payments. Also consider the electronic bill paying service where you bank. Consumer credit counseling agencies are a great, free resource for consumers needing a little extra help with budgeting, planning, or even setting up a debt repayment plan, otherwise known as a Debt Management Plan DMP. Understanding why you want a credit card, knowing how the credit card process works and picking a credit card that works best for you will help you avoid debt management pitfalls.