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You' ve had little recognition so far.
You may have an overshoot, but no credit card, credit agreement or credit card. You' ve never had a loan before. When you have little or no credit, there is a good chance that most credit card issuers will refuse you. That' because they can't judge whether you're fit for credit. Because there is no true history of how good you are at managing your indebtedness, you are regarded as a higher level of exposure.
There is such a high level of credit request these days that card issuers can easily choose the best candidates. Thus, those of you with a low credit rating may find it hard to be approved for a major credit card. But before you even think about the options, make sure you check out your credit report first to get a better idea of how your credit history really looks like.
View credit card products from credit builders specifically developed for those who want to enhance their credit histories. Please note that you should only request a so-called "High Risk" credit card if it is really necessary. Don't go back to your regular card over and over again, just to get rejected over and over again.
Many refused requests will put even more spots on your credit report. First thing you can note about this card is their horrendously higher rate of APR ( up to 39. 9% on our latest best buy table). Right, these maps don't seem appealing on the face, but they can fulfill an important function if used well.
Ideally, you should be spending a little each and every few months on the card and then make sure that you keep to your credit limits and fully pay back your credit every few months. As soon as you have been doing well for about a year, this will help fix your troubled credit record - even if you've been behind on loan payments in the past.
If you are new to lending by following this example, you will begin to develop a good credit record. This should be enough to help you have a better shot at being recognized for the best credit card standards. Also, on a last remark, it is important that you do not think of these "risky" credit card as a way to lend but as an excellent way to improve your creditworthiness.