If you have been declined credit recently prior to reading this page, please click here in order to learn how you may be able to obtain a free credit report. There may be negative information that may affect your ability to obtain credit now or in the future.
          Now that you have learned how to obtain your credit report or may have obtained one already, you can try to obtain your credit card. Firs you must become aware of some information that may influence whether or not you will be able to obtain an unsecured or secured credit card.
          A unsecured credit card is a credit card that does not require a security deposit in order to obtain it, while a secured credit card is one that requires a security deposit. This is done by the company issuing the card in order to protect themselves against any loss from an individual they may consider to be a credit risk. Now you may be asking, who is considered a credit risk? Normally a person whom has never had a credit cards, may be considered a credit risk, even thought there are other factors. Such as how long you have been employed, how long you have been employed at your current job, how long you have lived at your current address. The longer the time period for these factors the more stable you will look, and the more likely they will think you will make payments on the credit card.
          Also be aware that your income may affect whether or not you qualify for a unsecured or a secured credit card. For example, if you earn $11,000 a year you may not qualify for a unsecured credit card, but you may qualify for a secured credit card with a credit limit comparable to your security deposit. You must also be aware that the higher of a risk you are considered the higher the fees you may be asked to pay. Some companies require a very high interest rate if you are a risk, for this high interest rate they may give you a higher credit line than you may normally be entitled to.
          Other companies may charge you a fee in order to process your application, or to give you a credit card. This fee might be added to an annual membership fee they might charge you. I've seen offers that charge a $50.00 membership fee, and a $75.00 processing fee. This comes out to $125.00, just to obtain your card. The credit limit might also be very low, so if you get a $200.00 credit limit and they charge you $125.00 to obtain the card. You will only have $75.00 of credit left and a balance of $125.00. These types of cards are rarely worth it, so please don't get fooled into obtaining one. Read the terms of any credit offer very carefully before you apply. Also be aware that the fees may be under different names.
          Now don't be scared to obtain your first credit cards, it isn't as horrifying as it sounds. Most companies are honest, but you have to keep an eye out for those that may be out to make a quick buck and leave you in debt by taking advantage of your desires or needs. Just read anything carefully before you sign it, after a while you may be able to tell which offers are undesirable just by looking at them quickly.

          Some credit cards require a minimum level of income, so read the offer to make sure you qualify for it before you apply. This is because you don't want a lot of needless credit report requests on your credit report. Some companies regard a lot of credit requests as negative. Because it may be a sign of an individual who is running low on money and is very desperate, a dangerous combination.
          If your income is too low for a unsecured credit card, you should consider a secure credit card instead. The size of your deposit may depend on the size of your income, the information on your credit report, as well as other information the company may look at. But in general you may get 100% credit in contrast to your deposit. This means that if you give a $500.00 dollar deposit, you may get a credit line of $500.00. If you don't have a lot of negative information on your credit report you may be more than 100% of your deposit, of course this depends on the credit card company and your individual situation.
         If you are unable to obtain a secured credit card, you should try to obtain a charge card. A charge card is a line of credit issued by a specific company for use exclusively at that company. (Ex. sears, macy's, etc.) These type of cards are some times easier to obtain than a credit card, because the company may be willing to take a higher risk. I know you want a credit card, but if you have no credit record. This is one way to get something positive on your file, if you get it just make sure you keep in positive. Just check on their requirements before you apply, remember you don't want needless requests on your credit record.
          If you have no idea where to begin looking for credit, try Mastercard.com or Visa.com. You can also try the bank where you have your savings or checking account, since they know you they may be willing to give you credit. The rule of the game is not to stop looking, I don't mean applying, I mean looking. Try to limit you applications to one every three months. This is not an industry standard, nor is it a proven time period. But if you think about it, it makes sense. What looks better, five credit requests in one month, or four credit requests in one year. Four requests looks less desperate, don't you think. But your situation may differ, so apply as you see fit. Just keep it at a reasonable number, don't look desperate.

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