I have bad credit. I have two medical bill write-offs and student loans in default. I'm looking for a credit limit of $800 for a security deposit. Who will approve me?

Sorry to tell you, but likely no one.  Your best bet is to ask a friend or family for the money to pay your security deposit.  If you find someone that’s willing, ask for a total of $1000 and use the remaining $200 to open a secured credit card account.  A secured credit card can help you rebuild your credit at low risk to you and the credit card issuer.  With a secured card, your line of credit matches the amount of the deposit you put down – this usually starts around $200.00.  However keep in mind that, even though you’ve deposited money, being delinquent on your payments with a secured credit card will further negatively affect your credit history and score.

If you can’t get a loan from friends or family in time to make the security deposit for your apartment, you can get a payday loan if you are currently employed.  However, payday loans need to be paid back within two weeks and are accompanied with astronomical amounts of interest.  Make sure you have $800 coming from somewhere else before you decide to go this route.

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