Bad Credit Credit Cards

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Need a Credit Card, but Have Bad Credit? No Problem.

If you have a bad or poor credit standing, or don’t have one at all, don’t worry. There are many credit card offers that you can apply for and get approved. In this article I will not only show you what to look for in a credit card offer but also show you the varies types of credit cards offers that may get you on track to improving your credit.

First, you need to know that the financial market it broken down into two categories. These categories include sub-prime, which is used to describe consumers with damaged or no credit, and prime which is used to describe those consumers with good or excellent credit. When distinguishing between the two categories one must realize that sub-prime credit card offers may require security deposits, annual or application fees, and higher annual percent rates (APR).

Secondly, you need to know that there are two types of credit card offers, unsecured and secured. You may use both unsecured and secured credit cards to purchase products and services.

Unsecured: Unsecured credit cards offers generally have higher credit limits and lower interest rates than those that are secured. These card’s credit limits conventionally depend largely on the applicant’s income and his credit rating. Credit limits are usually higher and sometimes card holders of credit cards enjoy perks.

Secured: Secured credit card offers involve where the credit limit is assigned by the amount of money you deposited into an account of the card-issuing institution. This credit line is conventionally between 100% and 200% of the money deposited. These credit card offers are the best option for those who are not approved for other credit cards due to bad or no credit history. Secured credit cards are also a great way to rebuild your credit.

Knowing the difference between prime and sub-prime, unsecured and secured can help you understand where you are and how to get back on the right track of financial freedom. There are many financial institutions and many credit card offers that may be right for you.Always compare and fully understand credit cards before choosing one.

These are just a few things that you may do to ease the cost of filling up your tank while at a gas station. Each of these examples above can not only save you money but some may even get some cash back in your pocket.

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