insufficien credit
Date: Mon, 12/08/2008 - 16:30
I applied for credit from Discover and got a letter stating denial due ti insufficient credit. I have two small (280$ together) negative issues on my credit and nothing else.
how bad is this news? is insufficient credit better reason then bad credit? what do to next? where to get credit?
thank you, I appreciate anyone's help.
how bad is this news? is insufficient credit better reason then bad credit? what do to next? where to get credit?
thank you, I appreciate anyone's help.
a secured credit card is probably your best bet at this point.
a secured credit card is probably your best bet at this point. Go to your bank and ask for a secured credit card. Generally you put X amount in a savings account as collateral should you default. You will be given a credit line in the same amount as your deposit in savings. You will be expected to make payments plus interest on the account just like a regular credit card.
If you pay on time, positive information will be reported to the bureaus. If you default, they will take the money from your savings and negative info will be reported.
Also pay or settle on those collections..
