Getting approved for a credit card can be difficult without a positive credit history working in your favor. It’s a Catch-22: To obtain a credit card, you need a good credit history. But to have a good credit history, you need to establish good credit!
This no-win cycle can keep people with a non-existent, limited or negative credit history from getting approved for a credit card. But it doesn’t have to if you understand the type of credit cards available and how to build a good credit history.
When it comes to credit cards, the type of card you apply for will depend on your situation. If you’re a student, you’ll, naturally, sign up for a student card. But if you’re a non-student with a non-existent or bad credit history, a card that is secured or obtained with a co-signer may be your best option. With co-signed credit cards, the co-signer guarantees and is responsible for the debt. This means that the co-signing person is responsible for paying the full amount of the debt if the card holder doesn’t pay. In fact, when co-signed debt goes into default, three out of four times co-signers are normally asked to repay what is owed, according to the Federal Trade Commission.
Furthermore, the issuing bank can attempt to settle the debt without first trying to collect from the card holder. The bank can also use the same collection methods against the co-signing individual, including suing and garnishing wages. If the debt is not paid, it can leave a negative mark on the credit history of the co-signer, as well as the card holder.
Despite the risks, a co-signed credit card can be great tool for helping a friend or relative build their credit history so they can one day obtain a card on their own. Secured, co-signed and pre-paid credit cards offer viable options. But you should start building a strong credit history, so you can obtain a regular credit card on your own in the future.
First, you need to understand how credit card issuers determine credit worthiness. The approval criteria varies from among issuing banks, but generally relates to what’s often called the three C’s of credit: capacity, character and collateral. Capacity refers to your ability to pay based on your income and existing debt. Collateral refers to any assets you have that can secure payment, such as bank accounts or home ownership. Character refers to factors like your payment history, length of employment, etc.
To get a good idea about how your application will fare with credit card companies, check your credit history with one of the major credit reporting agencies: Experian (www.experian.com), Equifax (www.equifax.com) and TransUnion (www.tuc.com). These agencies access your payment information directly from the companies you have credit with, as well as from government agencies such as the legal court system.
Credit reporting agencies use the information in your credit history to determine your credit rating or credit score. Credit scores, also known as FICA or Beacon scores depending on the CRA, generally range from 350 to 850. Most banks will approve you for credit if your score is at least 620. If your rating is 720 or higher, banks will offer you their lowest interest rate.
Generally, y our credit score is determined by your payment history for the last two years. T echnically, CRAs calculate your score using a closely-guarded formula. TransUnion, for example, determines credit scores using a variety of factors, including: how you pay your accounts, how much you owe and how often you’ve applied for credit.
www.credit-cards-rates.co.cchttp://www.credit-cards-rates.co.cc/
Watch the video related
Fraudsters rack up millions of dollars in merchandise using fake credit cards with legit numbers hacked off the Internet. Detective Bob Watts of Newport Beach PD shows how it’s done.
Help answer the question
How do I switch credit cards and not affect my credit score?
I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don't need these credit cards and I would like to cancel them and have this "possible credit" to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?
credit cards
Someone could have cloned your card try calling the local police where this happened and file a police report and turn that in to your credit card company. If you can prove you were not there they should remove it from your bill.
Firstly you can ignore those who say it is not possible, it is but unless you are an expert I would strongly recommend that you don't go there. There are websites such as http://www.scamorama.com and http://www.spamhaus.org which will tell you more about it. There are people who are doing what you suggest but remember this, some spammers, and those who are running lottery scams are quite often organised criminal gangs. Unless you are absolutely sure that you can cover your tracks completely don't mess with them. Leave it to the experts.
he said “There IS enough people that know how to do this, and it already IS a serious problem” wow idiots.
i went from watching motivation vids to this ..hmm
They will call the FBI. Then the FBI will trace your computer and bang down the door and kidnap you to their terrorist holdling cells and throw away the key.
… Maybe…
Or more likely it won't go thorugh. Just give them the credit card number. My account has been active for years and they never charged me anything I never ordered.
“If theres enough people that know how to do this, theres a serious problem”
Why the hell post it on the internet for then lol
YES, YES, YES, tell him by all means! Because this will open your husbands eyes as to how his mother really is. It will also make your husband aware to not let her borrow money anymore too.
“Theres enough ppl out there that know how to do this that its a serious problem” so he is going to end this by making educational youtube videos demonstrating exactly how it is done
SMART!
Why fake when you not go to Rapidshare and write credit card generator XDDD
Die US haben mit ihrer Kreditkarten-Liquiditätspolitik eine nationale Misere und internationale Finanzkatastrophe heraufbeschworen! Geh zur Wahlurne.
?MLPD? MLPD? MLPD?..? MLPD?
(Vote !! 4ur own good!)
email me for a site that pays u w/o having 2 sell stuff
in deutschland geht das nicht oder?
If the credit card was expired, the transaction would not be completed because they failed to debit the card. Thus the order will be automatically cancelled from the system, even you don't call to cancel it.
I wonder where the credit card you used was from as they may wonder it too, if they concern. I wouldn't say no, even the Amazon staff said "no the cops won't come" through the phone.
However, less likely or very low chance the police will come. I believe the person, you talked through the phone, will treat you as a normal customer doing his order cancellation and will not report it.
Beware of doing such thing because if the card wasn't expired and the purchase was completed, you would get into trouble which you would truly regret. Hope that helps.
Ok, well if its a "fake" credit card nothing will happen, your oder wont go through. Now, if you use someone else's credit card without their knowledge or permission, if that person catches on to the fact you have used it, they will report it and the company will most likely run an investigation, and they can trace your transactions through the computers IP address. Dont bother going to your friends house, because he will rat you out, and dont go to your local library, be aware that most places nowadays have cameras. You will go to jail for fraud and forgery. If youre thinking about it, give the credit card back or shred it, nothing is worth your freedom.
It's not illegal but you won't get the item. They do run the card to check if it is a valid number. They ask for the billing address so you can't simply make up a number. Many people enter an incorrect number by mistake. The site will come back and ask for the correct number.
Even if you correctly guessed someones number, you'd still be caught because they'd report that someone was charging their card, then they'd track the location of your computer and come get you.
Just go to a grocery store, pay $5 to activate one, and just dont put any money on it, they have them everywheres, like greendot, or some other type, however they are a real debit card, but if no money is put on then it shouldnt be a problem.
You’ll go straight to jail doing this, don’t even try. But there’s a site that’s legal, and it works. You can earn extra money online besides working. If you’re interested, just go to my channel and click on the video or, go to /watch?v=9MIAialGGo4. Thanks =P. PM me for any questions You can pretty much earn loads from this site if you follow my tutorial. Thanks