How Do You Get Different Types Of Loans Despite A Poor Credit History?
You can still be approved for various types of loans even if you have bad credit. Loans are available for people with poor credit scores, bankruptcies, foreclosures and even car repossessions. However, you can expect to pay sometimes staggering interest rates, or you may have to place money in a bank account as collateral. Start by seeking a secured credit card — the easiest full-featured credit card to get with poor credit. Ask your bank or credit union if it offers secured credit cards, or seek a referral from a friend. You can also review secured credit card offers online. You’ll be required to place money in a bank account as collateral, and your credit line generally will be 50 to 100 percent of the amount you have on deposit. Make the deposit and pay any required fees to obtain the card. Establish a positive credit history with the secured card by making all payments on time and remaining under the credit limit. Consider opening a second secured account and establish a positive
