Entrepreneurship Corner: Need a New Credit Card for Your Business, but Have Bad Credit? These Are Your Options for Easy Approval
For Immediate Release:
nDemand Consulting releases helpful information for business owners seeking credit despite bad credit issues.
Charlotte, N.C. - April 30, 2017
There are still plenty of excellent credit card deals available for people with good credit ratings, even as recovery continues from the banking crisis of nearly a decade ago. Unfortunately, this isn't the case for people with less than perfect financial histories. Only a few years back, banks seemed to be falling over themselves to give cards to almost anyone - that's no longer the case. However, if your credit rating is poor, there's no need to give up hope. There are still some good options available.
Look Beyond the "Best Buys"
If your credit record is slightly blemished but has no major black marks, it's well worth looking a little further than the credit card "best buy" tables. If you accept that you won't be offered the very lowest rates or the most attractive benefits, there are still good deals to be had.
"Credit Builder" Cards
However, if your credit rating has significant problems, you may have success in applying for a "credit builder" card. These are bare-bones cards offering few extra features beyond a low credit limit and a fairly high interest rate. Although marketed as suitable for those with no credit history at all, they're nonetheless fairly easy to be approved for if you have a moderately poor rating.
High APR Cards
Last in the line of true credit cards for bad credit are the ones aimed squarely at people with severe problems, up to and including previous bankruptcies. These cards often charge a sizable annual fee and feature interest rates way higher than mainstream cards. However, they're very useful for getting a first foot on the credit card ladder, so long as you don't carry a large balance attracting huge interest charges.
Secured cards aren't really credit cards at all, as you need to deposit funds in the account to cover your spending. However, they're extremely easy to be approved for and have other advantages too. They offer all the payment convenience of mainstream cards, and most issuers will report your activity to the credit reference agencies - use them wisely, and your credit rating will improve as you go.
It's only to be expected that the better your credit rating, the greater your choice of credit card options. However, if you have realistic expectations and know which type of cards to apply for, a poor credit rating needn't stop you from carrying a useful card at a reasonable cost.
Need help rebuilding or building your personal or business credit? Start here with nDemand Consulting.
About nDemand Consulting
nDemand Consulting, founded in 2004, consists of an experienced consulting team focused on building small business sectors by providing expertise in the areas of strategy, marketing, execution, staffing, & same-day printing services. We believe the small business sector is the heartbeat of the world. The executive team at nDemand Consulting is committed to making a substantial impact in the small business community; one business at a time. Your business needs always comes first. Our collective team experience spans over 5 decades, ranging from Big 4/5 Consulting, Accounting, Public/Private Sector Executive Management, Talent Acquisition & Recruiting, to PR & Marketing for major firms globally. Additionally, the owners of nDemand Consulting have owned and successfully operated small business ventures (e.g., restaurants, hedge funds, staffing firms, etc.) and completely understand the small business world; the good - the bad - and the not so pretty.
Get in touch with us to set up a free consultation via phone (704.965.0781) or email (email@example.com).