Actually you can get a credit cards even if you have bad credit! :) because most of credit cards company are smart! for sure, they are realize a lot of people have bad credit still want credit cards! 😎 and because of that reason some people build company based on that particular markets! but what you have to realize most of these company basically don't trust with you! and because of that actually sometime doing unexpected action! such as, lowering your credit limit, High APR, no intro APR, high annual fee and so on!
But I do understand what are they trying to do! just lets said that kind of business methods are something like Credit cards risk management! 😂 and to honest, I don't blame them, since your credit cards are not good! so I have to accept about their TOS or rule of the games! but my suggestion is, if you have bad credit score! try to fix it, and improve or increase your credit score! so in future you don't need to dealing them again! 😎
So the question is how to build your credit score ? for most people that don't have credit history or new user, actually you can build by applying secured credit cards! it also apply for people that have bad credit score! because when you have low FICO scores! doesn't mean you can increase your score! to increase your score, you have to understand how FICO credits score! if we talk about FICO score basicall they have 5 part important things that you should manage!
first 35% of credit score are based on time payment! more 30% are about how much you owed! 15% are based on length credit history! more 10% based on credit variation, such as car loans, home loans, student loans and etc! and other 10% are focus on new credit! if you apply new credit cards its also count! because people that apply to many credit cards for short periods of time could be bad indication!
Implementation! start to open with secured credit cards! purchase something, or money transfer, or took cash advances! choose tenor1 years or maybe more! always pay your credit bills on time! try to make variation if you think can handle other loans variation! such as student loans, home loans or what soever! don't apply with new credit cards! because if you do that, its something like digging a holes to cover another holes! and it is bad method to solve your debt! if you can do this and manage your debt, see your credit score report! most of company will give you free credit scores report! watch the score and see the result!
If you have high credit score, try to apply with federal credit cards union! because most these company have lowest APR about 8% and most of them will not hesitate to give you high credit limits! just tell them you have business to run, and need capital for expansion! and don't want to deal with regular loans headache! because from business perspective most people will prefer with credit cards loans rather than business loans! because it's so effective! no waiting times, no warranty and you only use credit cards money to make profits!
Many entrepreneur use Credit cards for their business! in fact some people sell an ebook about doing business with credit cards! because most credit cards money actually if you realize are much more better than bank loans! either its from interest rates, approval times, liquidation and etc! so basically getting high credit score are very important! especially for business man!