Prime Credit Cards

vs.

Sub-Prime Credit Cards

Have you recently applied for a Credit Card?

Was it for a vacation? Internet service? An emergency? Whatever the reason, the denial notice was not a welcome addition to your mailbox. Now what? Don't give up!

You can still get a credit card.

First, request a credit report.

You are entitled to a free one because you were denied a line of credit. This information will be supplied on your denial of credit form that was sent by the credit card company. If you no longer have this form you can get your credit report on-line for a fee. When you get your report, check for negative marks. If you see errors on the account that are causing you not to be approved you have two choices.

First choice - You can wait seven years for the negative mark to 'fall off' your report.

Second Choice - work on removing the negative mark. You can do this yourself or hire a credit report repair company to do the work for you (most people go this route once they find out what a hassle it is to work with the credit bureaus). In the meantime you might want to apply for a sub-prime credit card to hold you over until your credit report is looking a little better.

A subprime card may have: