Terrible Credit -- CC options
 

Credit went into the garbage thanks to the economy and running a buisness that was really depending on something stronger then our current state of affairs.

Anyhow... I'm looking to take on one credit card that will give me use in countries outside of the US and if this begger can be a chooser, something that will get me pts with an airline or hotel... no preferance for which company to gain pts from as you can usually transfer pts from one company to another (for the most part).

Any suggestions would be welcomed. Thanks in advance.:D

You need to rethink your plans. Transferring points from one program to another is not, for the most part, possible (at least not without losing a large percentage of the points / miles).

As for getting a card, you might want to look at a debit card. This will help you build your credit rating.

Citi is tied into AA and will give AA miles for "signature" purchases with the debit card. There is a charge for the card. The $25 / year card will give you .5 AA mile for each dollar spent. The $65 / year card will give you 1 mile for each dollar spent. These fees are waived depending on your savings balance.

Good luck.

Unfortunately, a debit card won't help your credit rating at all, as debit cards have nothing to do with credit.

Given the state of the economy, banks and the recent introduction of credit legislation (CARD act), it may prove to be pretty difficult to add new credit if your report isn't pretty close to pristine.

Any card will work outside the US. Most charge a fee, Capital one, Schwab and PC Bank Signature don't. If your credit ain't great, the only one you have a shot with is Capital One.

I'd suggest taking your question to Credit Boards. They are the FT of credit, and have all kinds of advice for credit repair.

Getting a secure credit card would be one of the options to repair credit. Check with your bank that gets most of your business and they should be able to work it out for you.

Debit card will definitely not help you in anyways to repair your credit.

Thanks for the input so far, appreciate it.

I'm a little surprised to see no hospitality or airline company get into bed with one of the credit rebuilder cc's. The fee's are insane but there is a group of folks like me who would lock themselves into one of these cc's if they offered pts.

As to bank debit cards, I know they won't help my credit but I actually just applied for this one ... I know u don't get pts for pin number transactions but what about internet purchases ?

Anyone ??? ----

As to bank debit cards, I know they won't help my credit but I actually just applied for the Suntrust Delta Checkcard... I know u don't get pts for pin number transactions but what about internet purchases ?

Yes, you can get points for internet purchases. The fine print at the bottom contains the statement:

" Only signature-based purchases, Internet purchases, phone or mail order purchases or automatic bill payments qualify for rewards."

If you're looking for a credit card and your credit is bad, your only hope would be a secured credit card to start rebuilding your history. Then after a year or two of favorable history, you could try applying for a regular credit card (with rewards).

The rewards debit card is a good option if you want to rack up points with merchants that accept Visa. Of course, you need to ensure you have enough money in the bank to cover all transactions. Otherwise, it's not a bad deal.

Good luck!