The Three Types of Bad Credit Credit Cards
Bad credit credit cards come under several different guises and are issued by a huge number of banks and credit providers. Here we look at the three main types of these cards, and explain how they differ from each other and how they can benefit you.
In today's financial climate getting approved for a credit card can be tricky even if you have an average credit score, let alone bad credit. On the flip side, these people can still benefit from the everyday uses of a credit card. There is a gap...
Secured Credit Cards Five Key Questions And Answers
Secured credit cards are becoming popular tools that can help an individual with a low credit score to get their finances back on track. Here we answer the five key questions relating to these types of cards.
What Are Secured Credit Cards?
Secured credit cards are essentially regular credit cards, but with one key exception: The cardholder is required to make an upfront deposit of their own money (usually $250-$500), before they can start spending on it. This deposit acts as a bond and...
Credit Cards For No Credit
If you're looking for credit card and you have no credit or a bad credit history, you are likely going to get a prepaid card or a secured card. There is no credit check and you are guaranteed approval for these offers.
With all the trouble in the financial industry and what our media has dubbed the great recession credit cards for people without credit has changed! Many banks merged with other banks, or withdrew their credit card from the market entirely.
You can however get approved for a...
Bad Credit Visa Card How This Industry Has Dramatically Changed And What Your Choices Are
The first thing you need to know when searching for a bad credit Visa card is that this marketplace has changed more in the past four years than it has in its earlier 60 years. It started with the mortgage crisis and has only recently began to see some normalcy. Another huge blow to this industry was the new credit legislation that Congress passed.
Unfortunately these new laws have eliminated all unsecured offers for a bad credit rating. If you want an unsecured or traditional card in which...
Pre Pay Credit Cards How Do They Work
A pre pay credit card is actually a debit card. It will require you to first load money on your account before you can use the card for purchases. These are also commonly referred to as reloadable cards. You can purchase them at many popular retail locations.
These cards were designed for two reasons:
1. New credit laws - because Congress passed new lending laws were they set maximum interest rates and fees many credit cards that were designed for people with bad credit were removed from the...
Prepaid Reloadable Credit Cards What Are They
There is a new type of credit card for bad credit that has emerged onto the market and is increasingly gaining popularity. These cards are known as reloadable, prepaid, debit, bank, money, and cash cards.
They are issued as a Visa or MasterCard and can be used all over the world, including online and even over the phone. It will be accepted everywhere you see the Visa or MasterCard logo displayed. There is no credit check or check systems check and your guaranteed approval.
Using this card...
How Do Secured Credit Cards Work
A secured credit card is going to work very similar to a traditional or unsecured offer. You're going to have to pay in APR% interest rate and you'll be responsible for making monthly payments.
The big difference between these cards and unsecured is that you must first make a deposit with the issuing bank to get this card. You will decide how big of a deposit, you can choose between $200-$5000. When you make this deposit you are securing your account. Your card will have a credit limit that...
Debit Cards and What The Best One Will Offer You
Debit cards are issued as a Visa or a MasterCard. It is pre-paid which means you are going to first have to load money on your card before it can be used to make purchases. This is a real card and will be accepted over the phone and online.
As this is pre-paid and because first you have to put money on your card you will never run the risk of going into debt. You will never be charged a late fee or an overdraft fee. You are guaranteed approval regardless of your credit history or if you have...
The Orchard Bank Credit Card Offer How The Process Works And The Lowdown
The Orchard Bank credit card is issued by HSBC Bank, a huge international bank. Due to the size and resources of this bank they will provide you with a unique application process, in which you will be able to ensure you get the best offer that you qualify for.
Unlike any card when you apply for this offer your score is checked and then you will be offered all the cards you qualify for. You can be offered an unsecured card and you're guaranteed a secured card. It usually...
Prepaid Debit Cards The Ins and Outs of How They Work
For those leery of banks, specifically their finance charges and minimum balances, prepaid debit cards are a viable option to survive in a plastic-driven world. These function similar to a checking account in that money is deposited onto your account and when it is used, funds are deducted. The difference is that they will never impose overdraft fees or finance charges.
It is virtually impossible to reserve a seat on an airline or a room in a hotel, or even purchase goods online, without a...