How can you prove your credit worthiness when no one will give
you a chance? If you have bad credit, or no credit at all, you
understand how difficult it can be to get moving in the right
direction. Luckily, in today's credit card market there are a
variety of options available to assist you. Let us tell you
about some of the choices you have to get your credit on the
right track:
Secured Credit Cards
Secured credit cards are available to almost any individual.
That's because they require a security deposit which guarantees
your credit line. For example, if you deposit $300, you'll
receive a credit line of $300. This may not seem like a true
"credit line", but the charges you make with a secured credit
card will be reported to the 3 major credit bureaus, and timely
payments will show a positive track record on your credit
report. You can use this to your advantage to build or improve
your credit history! In time, you can move on to a better credit
card offer with no security deposit, lower fees and a better
interest rate.
Unsecured Credit Cards
An unsecured credit card is a "traditional" form of credit card
which requires no security deposit. Your interest rate and
credit line are based upon your credit history. Although most
unsecured credit cards are out of reach for many people with
poor / no credit, some credit card companies offer unsecured
credit cards designed specifically for these individuals.
Normally, these credit cards have higher rates and additional
fees when compared to standard "unsecured credit cards", but
they do no require a security deposit like secured credit card
offers.
Prepaid Credit Cards
A prepaid credit card is like a prepaid phone card. They operate
on a "pay-as-you-go" basis and can be used anywhere credit cards
are accepted. They offer many benefits, and in most cases, are
very easy to use and operate. But be aware, not all prepaid
credit cards report your activity to the credit agencies. While
you may benefit from the safety and convenience of not carrying
cash, you won't be building or improving your credit if the
prepaid credit card company doesn't report your activity to the
major credit bureaus. Luckily, many prepaid credit cards report
your credit card activity or offer this option for an additional
monthly fee.
To see a complete list of secured, unsecured, and prepaid credit cards, please visit:
WOW!
Credit Cards
About the author:
by WOW!
Credit Cards - Copyright © 2005
|
|
 |
Avoiding Complications in Credit Repair
Avoiding complications in credit repair is almost important as getting out of debt. When we have bills that were neglected simply because we didn't have the money to pay the bills, or else we purchased items instead of paying the bills, we are in...
Credit Repair Collection Agency
Credit repair and collection agencies go hand in hand since one is out to get the other. In other words, we sometimes run from our debts taking advantage of a kind gesture. Collection agencies are not as kind as the lenders so therefore be...
Credit Repair Scam - How To Avoid Being A Statistic?
Credit repair scam - How to avoid being a statistic? A good credit history is critically important for the consumer. A bad credit will prevent you from getting a business loan, owning a home, or even a job. Promises to "fix" your credit are always...
Repair My Credit - I Don't Know Where To Start
Can you repair my credit? Although there are many Internet sites
that claim to be able to do credit repair for you, they cannot.
When you ask "How can I repair my credit", there are many places
you can get advice about credit repair, but you are...
Credit Repair Scheme Promises Fast Score Increases But May Be Illegal
Establishing a good FICO credit score isn't all that difficult; all you have to do is pay your bills on time. But if you have a bad credit score from a history of not paying your bills promptly, repairing your score and building...
|
