Don’t let having a poor credit standing or a bad credit rating prevent you from purchasing or acquiring things you need for yourself or your family. Since the financial market and the way it operates have changed over the years, having bad credit no longer has to hurt your financial situation forever.
Common Misconceptions about Having Bad Credit
1. You will no longer be approved for credit cards.
Having a bad credit rating does not have to keep you from making a purchase using credit cards. There are shopping sites that offer credit card catalogues with no credit check, and people have usually used this opportunity to rebuild their credit rating.
2. Bad credit rating will set you back by five to ten years.
Not true. In fact, you can bounce back in less than a year. By earning positive credit points you may be eligible to apply for unsecured credit cards in no time.
3. Financial transactions that are completed without credit checks do not help improve your credit standing.
This is far from the truth. This is actually the best option for people with bad credit – get another credit card issued specifically for those who have bad credit.
How Credit from Catalogue Companies Can Help You
In order to recover from your bad credit rating, you need to start rebuilding your credit history. This means that you need to start spending with credit cards again, only this time, you have to use it to demonstrate purchasing and payment power. You can do this by making a payment using your credit card, and by keeping your credit card statement current, which will allow you to improve your trust rating.
Another way to accumulate positive credit points is by shopping from catalogue sites. These shopping sites usually approve even those with bad credit, so long as they provide a proof of income, residence, identity, and a link to an active bank account.
By applying for a credit line from these sites, you can purchase essentials and even spread the cost of big-ticket purchases such as home furniture and appliances. However, you have to pay on time every month; doing so will convince such sites to report you to credit rating companies, which will ultimately help clean up your credit report.
Don’t Be Afraid to Get a Credit Card
Credit cards remain controversial. Most people have reservations about getting a credit card, considering how some people claim that these cards put them into debt. What most fail to remember is that people’s spending habits are the issue, not credit cards.
If used wisely, credit cards can help you purchase things you’ve always wanted to buy but cannot afford to pay upfront. You can even opt to structure your payment depending on your credit card. There are banks and credit companies that offer zero-interest purchases and installment payment schemes for your convenience.
Credits cards are a major factor when it comes to establishing your credit history. Financial institutions need proof of how good you are as a potential borrower and payor. If you are suffering from bad credit score, apply for a catalogue credit card so you can get back on your feet.