If you have a bad credit score, getting instant credit card approval for bad credit no deposit can be difficult.  This is because the credit card companies look into facts and seldom consider the promise you are willing to make. You might be wanting to turn over a new financial leaf, but the fact on paper remains that you have bad credit.

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But, you don’t have to get disheartened as bad credit is not a life sentence. A good one-third of the population has credit below 620 and there are ways to undo the damage and rebuild your credit. However, this rebuilding process takes some focused efforts.

In the meantime, if you want, you can opt for an instant credit card approval for bad credit no deposit as some credit card issuers are willing to offer it. However, these cards come with some strings attached, which often makes them less desirable. As you are not willing to give an initial deposit, these cards for you will come with limited usability at particular stores or will have high-interest rates and fees.

Now let’s see how we can improve the credit score.

Find the Problem

Before trying to fix the problem, you should first know the problem and for that start by reviewing your credit report. If you think that your credit score cannot be that bad, look for any error that could have caused the undeserved credit score damage. If the report is accurate, look for areas that have caused the damage.

Clear Past-Due Bills

Most of the times, the culprit lies in due bill payments. The credit score comes from five components with associated weights. These are Payment history 35%, Amounts owed 30%, Length of credit history 15%, Types of credit in use 10%, Account inquiries: 10%. As amounts owed weighs 30%, clearing at least the minimum due amount will result in status changing from “delinquent” to “paid”, which will prevent any further damage on this front. Also, pay off multiple small debts than one big debt first, so the number of defaults comes down and it will help in raising the score.

Payment History

The maximum weight of 35% in the credit score is of payment history and improving on this front will help a lot in bettering the overall score. You cannot reverse the clock on your earlier missed or late payments, but focusing on current payments will help mitigate their effects. Make your current payments on time and the old defaults will soon start getting faded. 

Start working on these fronts to improve credit. In the meantime, look for some instant credit card approval for bad credit no deposit for the time being.

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