Sources of New Credit
If you do not have at least 5 active tradelines on your credit report and are looking to apply for new credit in order to remedy that situation then consider these options:
Retail Store Credit Cards
First try applying with local retail stores. It is sometimes easier to get credit with a local store than other places. Just be sure that they report to the credit bureaus or you have wasted your time as far as improving your credit score.
Gas Station Credit Cards
Apply for a credit card with some of the major gas stations. A small local gas station may not report to the credit bureaus.
Try to avoid finance type companies. These are not considered as credity worthy types of accounts with the credit bureaus, so they will not have the positive impact on your score that you are trying to achieve.
When you are in need of another car, finance one with a company that you are sure reports to the credit bureaus. Most small car lots do not. Be sure they report monthly your positive, ontime payments, not just your non-payment activity. Even if you have to start with a bad credit car loan at a higher interest rate be sure that they are reporting your ontime payments in order to help improve your credit score.
The next time you need a auto loan you won't need the bad credit car loan and you will be able to finance it with a much improved interest rate.
Credit Card Deals
New crdit cards with ontime payments will definitely lead to an improved credit score. It is not necessary to have a high credit limit. Just be sure to keep your balance at around 30% of your credit limit. If you do no more than go out to eat and charge the meal, then pay the balance in full, ontime, when the bill comes in.
Find Credit Card - Apply Online For Credit Card
There are credit cards deals available for people with bad credit also. Be sure you check and understand the fees that are associated with any credit card, especially the ones for persons with bad credit. It may be well worth the fees, for say a year, in order to improve your credit scores. Then you can get a credit card with better credit card rates, with that same company, or some other company and close out the expensive one. Even if you are wondering how to improve your credit after bankruptcy a credit card is still a good option for doing that.