All posts by blgdminz

How can I get a business credit card despite bad credit rating in Canada?

almcneilcan asked:

Help! I’m trying to start up a business and all I need is a $10k business credit card. But I have a bad credit rating and so far lenders insist I must have a strong co-signer. But I can’t get anyone to do this for me (long story) Any suggestions? In answer to the first responder, it’s a self-employed business. I’m the only employee. It’s a long story but my personal financial mess is a combination of the high tech collapse (I’m an engineer) that has gone on 6 years, 3.5 years unemployed for myself. Plus, I have a medical condition. I finally made a bold move to get around the medical condition so I can start my own business, now all that is stopping me is a co-signer. I agree, it’s not an enviable position but I have no other choice. Is there any way to get a credit card without a co-signer when you have a bad credit rating?


I don’t take risks and so I don’t have credit?

Stephanie W asked:

At 26 years old, I have no debt. I also have no credit. It’s not that I have bad credit, it’s just that I don’t have enough. My policy is to never buy something I know I can’t afford! I just found out my credit rating is 646. That’s poor! It’s been suggested to me that I open up a line of credit and purchase something I can make payments on. I’m thinking about buying a classical guitar I fell in love with which is about $900. Is that the right way to go? Does someone else have a better idea?