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Bad Credit Worries - Credit Cards Are Still Possible

Apr 24, 2008
There is a credit card (or multiple credit cards) for everyone, no matter what your financial history or credit score is like. With bad credit, however, you will have to get a card with a company that offers and unsecured credit card.

If you have good credit, you can get an unsecured card. You already have good credit, so you are trying to build up your credit line instead of your credit score. When money is spent on these cards and paid off on the due date will show responsibility, allowing them to give you a higher credit score.

With bad credit, you may need to pay a small deposit in order to get the unsecured card. The reason for the deposit is that you haven't shown that you can always pay your bills, so it will cover their costs if you miss payments. Your credit line will probably be at or below the amount you paid as a deposit. If you go over your credit limit, you may lose your card. Unsecured cards usually have low fixed interest rates and credit lines starting at about $200. They may offer benefits for purchases made. Don't make a quick decision about credit cards. It is important to look at all of the factors.

Salespeople will try very hard to sell you something so make sure your card offers low APR on purchases. They make money when you spend money, so they will call you, email you, or send you letters with special offers on credit cards. Depending on your credit rating, they may offer cards with credit limits from $200 to $10,000. Be VERY careful when getting one of these cards. They may be trying to trick you in some way, which could put you deep into debt. Make sure you read all of the fine print. Also, don't always believe the messages saying you're approved for a guaranteed credit card.

Once you do find a good credit card, you will be able to go to the bank and get money quick if you need to, but you will have to pay back more than you borrow. A payday loan is also possible for cash advances, but you must be able to pay those back right away though. If not, you could be paying up to 449.9% interest if you miss a few extensions! This makes credit cards safer options.

Even if you have bad credit, you can work with lenders to find the best high risk card for you. You can surely get some kind of card. Just make sure, no matter what type of card you are getting, that you know all of the details about it. Read all of the fine print in the term and agreements. You may be agreeing to pay a monthly or yearly fee just to have the card and not even know it. You will save many hassles by knowing what you are getting in to.
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