The following is a true account from a business owner who gave me some pointers on how he got business secured credit cards for bad credit in the hopes of re-establishing his credit. He also wanted to be financially independent.
When I was about to buy media for my internet marketing business, I was not confident because I have experiences about spoiling my own credit. Although sometimes it was pretty circumstantial, I admit to mistakes that I myself made. My credit and I were affected by a bad divorce.
I knew that I had to do something for my business but I was unnerved about finding a company that would grant me a card. I had some money that could help in my business but I realized that I had to use leverage if I were to succeed.
This was when I further realized that I have to get good credit history to make up for the mistakes in the past. I knew I had to re-establish myself to the credit bureaus and a prepaid card seemed to be the way to go. I looked for the best option and finally found one that offered secured credit cards for businesses. This company did not charge me a lot of fees.
I was happy when they asked for my credit report because it showed that they were serious about business.
I made a large deposit and in turn they granted me a larger credit limit which I used and paid for on time constantly. After a short time, I had a much better credit score which is now more than 700. I just had to use credit wisely.
Unsecured credit cards for bad credit are also available and does not require a deposit which may make it harder to get. Secured credit cards could better your credit faster.
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