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Financial Planning

Depending upon your gross income, debt and credit score will affect which credit card you can get and how much of a limit you will be offered.

If your credit is bad, you may need to do some credit repair first. However, there is a credit card you can get. It is called a secured credit card.
To try and get a secured credit card with bad credit click here.

If your credit is poor or nonexistent, you may need to take a couple steps. The financial strategy is to build stronger credit with secured credit cards.

Visa and Master Card are the most recognized, but a little harder to obtain. A plan to get to one is to first get credit somewhere else first. The way I got my first card was at Sears and then later at a department store. Often times when you go to a department stores, they will offer you a card with an incentive or discount just for applying.

Often the limits are not high. The point of getting one of these cards is that it builds solid credit. I used the Sears Card for a basic purchase and paid the minimum the first month and paid it off the second month. On the third month I made another purchase and paid it off when the statement came in.

This strengthens credit a little by showing that my payments are made on time and that the balance is paid off early. Do the same with the another department store. At the end of six months a Visa credit card may then be possible.

This credit history was later good enough to finance a vehicle. The new credit history was good enough to finance purchasing 40 acres. This credit history was good enough to get a home mortgage loan to build a home.

It all started with a basic credit card. Keep in mind, only twice in the beginning did the minimum balance get paid, and ever since then I paid the balances in full at the end of the month. This way the credit cards became a tool to build credit, instead of an instrument of borrowing money and paying interest.

Another important note is I started my credit building while I was still in school with a part time job. Good credit can sometimes offset lower income.

Once great credit is established it might be a good financial decision to eliminate the cards which you are not using. Unless you are paying the entire balance at the end of the month, the interest burden can become a financial trap pulling you downward. Unfortunately that is where many people have gotten stuck today and are now looking for a way out.

The good news is we have a number of ways to reclaiming your financial stability with a number of credit card steps offered here at First Financial Help.

Getting a credit card can be way too easy or very hard, depending upon your personal financial situation. It can be a financial blessing or curse, also depending on how you use it.

Credit cards are very useful for air, hotel and rental car reservations. But always treat them as you would if you were going to a lender to get a loan.

Getting a Credit Card

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