i did settle my creditcards debts with collection agencies,now i d like to apply for a k limit to fix my credit,,now this is my main concern
will visa ban me for applying for new creditcard for the reason that i was charged off for years,or it will depend it on my credit report and the bank? HELP
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Thu, Aug 26, 2010
August 26th, 2010 at 3:24 am
That’s a great strategy to apply for a $1K limit credit card to rebuild your credit. Visa can’t ban you so no worries there. However, the bank you settled with in past may not be inclined to give credit again so quickly, but you can apply for a Visa card from a different bank, or better yet apply for a mastercard. If you face roadblocks in getting the credit card now, try for a secured credit card first where you have to put down a deposit to get the card. After keeping the secured credit card for like 4 to 5 months apply for the unsecured credit card. Good luck!
August 26th, 2010 at 3:24 am
if u havent been bankrupt yet, then u can still apply for a visa credit card..try it, they might approve u. also why specifically visa, why dont u try mastercard..also, if u have a good record in ur bank that will help apply for a visa thru ur bank.
August 26th, 2010 at 3:24 am
Since you became a credit risk to credit card companies, it would be difficult for you to obtain a new credit card. Financial institutions which issue credit cards reply on applicant’s credit report.
August 26th, 2010 at 3:24 am
Visa does not issue credit cards. They are a marketing and clearing system for card issuing banks. Each bank has it’s own rules. Some will not want you. Some will. Your luck will improve as time goes by and the settlements go further into old history.
September 3rd, 2010 at 6:51 pm
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