how to get a credit card for someone in bad situation?

[Anonymous]

My friend has had credit card, but now he does not even have a debit card, he still has a job, car, renting a house, but his had a rough hit when it comes to credit card. 

He had a burger business which which was collected by the IRS due to tax fraud, which was not a smart choice. I dont think his even qualified for a debit card as far as I know. or is he? 

My question is, is it even possible for someone like him to get a credit card? maybe a secured card? HIs credit is at low 500's, and probably alot of bad signals on his credit report. 

[Anonymous]

Does he have a checking account? He can get OpenSky secured credit card without a hard pull.

[Anonymous]

Um, isn't a debit card available to anyoe who has an appropriate checking account? I would look into secured cards as that is a good way to get your foot in the door. Many people will get a secured card or two and use them until they become unsecured or until you can qualify for a regulcar card. I'd just avoid the predator companies that offer cards with high AF's, membership fees and APR's. A credit union on bank where they have an account is a decent place to start. I started with a secired BoA card 2 years ago and I now have 4 cards and an instalment loan. The most important thing to remember is that credit is only as good as income. You still need to pay the bills on time, so don't over-extend. (as tempting as it can be)

[takeshi74]

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@Anonymous wrote:

My question is, is it even possible for someone like him to get a credit card? maybe a secured card? HIs credit is at low 500's, and probably alot of bad signals on his credit report. 

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It may be possible but rather than just relying on what he might qualify for, he should get to work on the issues with his credit.  Even if he does get approved those issues will continue to hold him down as long as they are on his reports.

[CYBERSAM]

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@Anonymous wrote:

My friend has had credit card, but now he does not even have a debit card, he still has a job, car, renting a house, but his had a rough hit when it comes to credit card. 

He had a burger business which which was collected by the IRS due to tax fraud, which was not a smart choice. I dont think his even qualified for a debit card as far as I know. or is he? 

My question is, is it even possible for someone like him to get a credit card? maybe a secured card? HIs credit is at low 500's, and probably alot of bad signals on his credit report. 

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Anyone can go from very bad credit to good credit in 2 years! This forum can attest to it.

[Anonymous]

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@CYBERSAM wrote:

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@Anonymous wrote:

My friend has had credit card, but now he does not even have a debit card, he still has a job, car, renting a house, but his had a rough hit when it comes to credit card. 

He had a burger business which which was collected by the IRS due to tax fraud, which was not a smart choice. I dont think his even qualified for a debit card as far as I know. or is he? 

My question is, is it even possible for someone like him to get a credit card? maybe a secured card? HIs credit is at low 500's, and probably alot of bad signals on his credit report. 

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Anyone can go from very bad credit to good credit in 2 years! This forum can attest to it.

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While 2 years is possible, whether it is probable is, I think, dependent on what takeshi said. He should address all of the issues on his CR first.

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@Anonymous wrote:

Um, isn't a debit card available to anyoe who has an appropriate checking account? I would look into secured cards as that is a good way to get your foot in the door. Many people will get a secured card or two and use them until they become unsecured or until you can qualify for a regulcar card. I'd just avoid the predator companies that offer cards with high AF's, membership fees and APR's. A credit union on bank where they have an account is a decent place to start. I started with a secired BoA card 2 years ago and I now have 4 cards and an instalment loan. The most important thing to remember is that credit is only as good as income. You still need to pay the bills on time, so don't over-extend. (as tempting as it can be)

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If he does decide to to get a secured CC, then this is very important to watch out for (i.e. Credit One and First Premier)