Nowadays, anyone can obtain a credit even after a devastating blow of bankruptcy. There is no need to immediately get upset if your credit history is bad. This problem has a solution and you can always find a way to qualify for a loan and with good terms and rates.
Frankly speaking, no credit can last forever. A bankruptcy will remain in your credit report for ten years. The rule says: If you remain responsible and you’re paying your bills on time, the bad credit score will diminished. Another thing to remember is, if you can’t handle credit properly, stick to cash. There’s no harm in cash-only type of living, right?
However, if it’s inevitable not to have any credits, it will be a smart move on your part if you’ll get a credit card that is parallel to your needs and make sure you:
1) Pay your bills early and on time. It’s always helpful if you regularly list down all your daily expenses. This is the time where you’ll need to realize getting a credit card is not pleasurable. It’s a test for you how smart are you in budgeting and foreseeing what the future holds for you.
2) Avoid making deals with finance companies. These companies only lower your FICO Credit Scores.
3) Have the courage to say no to co-signers. Once the lenders notice a co-signer on your report, they will probably ask for another loan.
4) Be wise and never get tempted with those special discounts and promos. Always put in mind folks: “If you can’t pay it in cash, you don’t need it.”
5) Secure copies of your credit report. If something goes wrong or something confuses you, you can immediately verify it with your bank and show them the proofs they need.
6) Get informed. Buy books that are talking about money, saving money and such topics as that. These books can help you. In fact, there’s nothing wrong if you are going to follow their advices. You need these advices and stop telling yourself that you know better than them. The authors of these books are also like you. Their life was also in a downhill and they are also a victim of poor credit score.
7) If you are not still convinced by just reading this article, feel free to watch streaming videos on saving money. Perhaps, watching those videos can convince you and turn your life into something productive and memorable.