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Credit Cards
If you have bad credit or no credit at all, you may find it difficult or nearly impossible to get a credit card. This should not be the case. There are many credit cards out there for people with poor credit history, those who wish to re-establish there credit, or people with no credit history at all. Most Credit Card Companies offer credit cards designed for people in this situation.
Credit Card Resources:
Things to Consider When Applying.
When applying for a credit card and you have bad credit, you should consider these factors: interest rate, credit limit, annual fee, monthly fees, maintenance fees, is the card secured or unsecured.
Credit Card Companies will still give credit cards to people with bad credit or no credit. The credit limit is usually very low (between $250 and $500) and the interest rate is very high (sometimes up to 35%). Don't worry, it's not all bad. If you have poor credit history, these card can actually help you. If you apply and are approved, make sure you follow these simple tips. Do not "max-out" the card right away, try to keep the balance around 50% of the limit. Never miss a payment or be late. Try to pay off the balance every month. If you follow these points, you will be on your way to a better credit score and better credit worthiness, which will allow you to get better credit offers.
Be Careful of Excessive Fees
Just because you have bad credit, doesn't mean you have to be a slave to the credit card companies. Make sure you research any and all companies before applying for credit card. A lot of lenders will offer you a credit card with low limit and then charge you excessive fees. These fees can include an annual fee, set-up fee, monthly maintenance fee, etc. These fees will greatly reduce your credit limit (sometimes up to 70%) and should be avoided at all costs.
Secured Cards vs. Unsecured Cards
A Secured Credit Card is a card that is secured by a deposit from the borrower. The deposit is usually 100% of the credit limit, but some companies offer just a fraction of the limit. This deposit is almost always refundable should you want to close the account and protects the lender in case you default. These cards can be great to improve your credit score and help re-establish your credit worthiness.
An Unsecured Card is just like a regular credit card without the security deposit. To make-up for the security deposit these cards often come with excessive fees attached to them. Most unsecured cards for people with bad credit have these fees attached to them, but not all of them. You can still apply and get a credit card no matter what your credit history is.
Credit Card Related Links.
You're Approved for Guaranteed Unsecured Credit Cards and Personal Loans - Any Credit History Click Here
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Featured Article
Acting Smart With Your Credit Card
By: Michael Colucci
Whether you own a credit card that offers reward points, a credit card with a low ongoing APR or one with a 0% APR intro rate, it helps - and pays - to act smart with your credit card usage. If and when you own a credit card, it's not just simply a matter of swiping and paying off bills. There are ways to maximize the promotional offers and rewards of your credit card and we're here to teach you how to be a smart credit card owner.
The Zero Percent (0%) APR Intro Rate Credit Card - So, you've been approached by a credit card representative offering you this type of credit card, have you? He made it all sound so simple and wonderful, didn't he? Or maybe, you accidentally came across a credit card website and you found yourself mesmerized with the words zero percent.
Whatever the case, here's the truth about 0% APR intro rate credit cards - it's not what everybody needs. That's right. Even if it does promises to give you 0% APR on your credit card purchases, keep in mind that this is an intro rate we're talking about.
And this means that if the introductory period is over - and the coverage is usually between three to fifteen months, tops - then say bye-bye to your beloved 0% APR and say hello once more to the normal APR for credit cards.
A 0% APR intro rate credit card is best for people who want to transfer their balance from old credit cards and people who are planning to make expensive purchases and are able to pay them off before the introductory offer expires. When shopping for 0% APR intro rate credit cards, remember to ask about the duration of the introductory period, what the APR's going to be after the intro period and if there are any additional fees to be paid.
The Low Ongoing APR Credit Card - If you just want a credit card with a low or lower interest rate but you're not in the mood to buy a Tiffany jewelry set or a yacht then yes, you're better off with a low ongoing APR credit card.
Credit Card Offering Rewards / Reward Points - This is the most popular type of credit card. Although they have higher interest rates compared to other credit card types, if you don't mind paying more on finance charges in the hopes of winning something else later on then this type of credit card is the ideal one for you!
Author Bio
Michael Colucci is a technical writer for Low Interest Credit Cards - A site that offers credit cards with an intro rate of 0% for 12-15 months.
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