5 Bad Credit Myths Dispelled

5 Bad Credit Myths Dispelled

Myth 3 – Being in debt means you will not get a credit card
Credit cards may be used to help a person get out of debt. There are credit cards offering a balance transfer feature. The holder of such a card can transfer his current debts to the card charging 0%. The money in this case is taken from an interest-charging card. You will need to pay 3% of the current balance if you decide to perform this kind of transfer. People who have a bad credit history usually feel that they will not get any help from a credit card. And they are wrong. Many lenders are ready and willing to help out those who have made the wrong borrowing choices. If you want to find such providers, feel free to use the so-called ‘soft search’. This is an eligibility check that can be used to see which credit cards and lenders will not reject you. If you have debts, such a card should be in order to transfer your balance.

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