Shelly asked in Business & FinanceCredit · 1 decade ago

Does anyone know where I can buy items with credit if you have bad credit?

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  • 1 decade ago
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    Try Applying for Capital One credit card. I got a card from them within 2 years of filing for bankruptcy. Also Washington Mutual is pretty leanient. That's the next card I got 3 years after bankruptcy. ($1000 limit)

  • 1 decade ago

    Sadly, if you want to buy with credit, most places will run the credit check and see you have bad credit. They will take advantage of this and the fact you know it too to offer pretty bad terms. I don't necessarily mean a bad interest rate, or fees. Some raise their prices knowing most people coming in have poor credit. That said, furniture stores, appliances, cars - these are the areas where credit is often used as a sales inducement. A furniture store, for instance, might offer a couch for $800 except when on sale for $600. It cost them, direct cost only, $250. They use a credit retailer like CitiFinancial. If a couple loans go bad, that loss is CF's. They only sell the sofas when on sale, but of the $600 you pay, they only collect perhaps $450 to $500 from the credit retailer and often even less. In a market without their history, that sofa might've sold straight out for the same $500, but then, they wouldn't sell nearly as many sofas. Appliances are going the same way as their costs become out-of-this-world but retailers like Lowes and Home Depot still have a little shame and passing their credit applications is harder than at a furniture store. But still, they DO want to sell... Cars speak for themselves. So do rapists. Do the math. But look for things like this, lighting stores perhaps, places like boutique clothing stores and Pier One type places. Their credit is from credit retailers not themselves so you have a very good chance. A bank like Citi cannot just sit on $100 Billion dollars because they couldn't find a way to lend it - their stockholders, even the federal regulators, no one would stand for it. So they are motivated. Remember though, any use of credit lowers your score and makes things like house mortgages less likely and more expensive. Do the math and decide if conserving the general credit you do have for things like restaurants or car repairs and paying through the nose for these things is better or if you should use the general credit you do have left. I might point out that often these kinds of loans are interest free - IF you always pay on time and never screw up. Figure whether that will work for you and if you can do it, for sure, snap it up because it is a major way to lower your real cost. Just never pay ahead, put the money aside for a month you have trouble finding the $11. Hope this helps.

  • Anonymous
    1 decade ago

    To open a credit account with bad credit is difficult, but not impossible. You only need to follow a few easy steps. The best thing to do is to get a secured card. For this, you have to give the company about $200 to $250, and then it would issue you a credit card with that credit limit, and sometimes even up to twice as much. You would also be required to open and maintain a savings account as a security to open a credit account with bad credit.

    Another thing that you can do to open a credit account with bad credit is to ask a friend or a relative with a good credit rating to co-sign for your card, because their credit rating is also important. If you fail to pay back the loan, then your friend or relative has to pay it.

  • 1 decade ago

    Firms that sell on credit to customers who are at high risk of defaulting (i.e. have "bad" credit ratings) are also apt to charge outrageously high interest. Using these retailers will get you the merchandise you want now, but you are putting yourself at a higher risk of defaulting and ultimately making your current bad credit even worse.

    Better to work on improving your credit rating now. Here are five suggested steps from Bankrate.com for beginning to work on raising your credit score

    http://www.bankrate.com/brm/news/credit-management...

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  • 1 decade ago

    It depends on what items are you looking for. If you are looking for furniture there are some company's like rent-a-center that don't do credit checks no matter how bad your credit is.

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