Credit Card Debt Relief

Saturday, March 3, 2012

Instant Approval Credit Cards For Bad Credit

Most credit card companies offer instant approval, when applying online. Credit cards for bad credit are designed for people who are unable to qualify for a regular credit card due to their bad credit history. Days are gone when a bad credit rating on a credit report prevented you from obtaining a credit card.

Today, you need to have a credit card for all purchases and transactions. If you have a bad credit rating, you would probably be attracted to marketing strategies, such as 'credit cards with bad debt' and 'credit card for bad credit history,' etc.

Most instant approval credit cards for bad credit are unsecured credit cards. Though you may not have to pay a down payment, these credit cards carry high interest rates. However, if you have a bad credit rating, obtaining credit cards with bad debt and then using them wisely may boost your credit rating.

To maintain a good credit here onwards, you must maintain good discipline and make smart credit decisions. Begin by maintaining low balances. Credit cards are not free money and so do not spend money frivolously. To avoid accumulating unnecessary debts, pay off the balance each month.

Bad Credit Cards Improve Credit Score

Companies providing bad credit credit cards provide monthly reports to four major credit bureaus. These credit bureaus maintain the credit history of millions of people around the country. Most credit card companies contact these bureaus to verify the credit rating of credit card and loan applicants. You can enhance your credit rating by timely paying your bad credit credit card dues for some time and after some time you become eligible for normal credit cards.

Tips for Selecting Bad Credit Credit Cards

People with bad credit are always on a lookout for offer of bad credit credit cards. These days you will find hundreds of offers such as bad credit instant guaranteed credit cards, instant bad credit loan approvals, credit card instant approval bad credit, instant approval credit cards bad credit, instant credit card approval for bad credit and many more.

Such offers are a big temptation for the persons with bad credit. However, you have to be careful in selecting any of such offers for credit cards and loans for bad credit because a wrong selection of Credit cards for bad credit could land you in a bigger financial mess.

When selecting instant approval credit cards for bad credit, ensure that you are not unscrupulously being charged for program fee, account set up fee and annual card fee, etc. You may be able to identify unsecured credit card companies that would charge an annual fee and little or no set up fee etc.

Credit Building Credit Cards For Bad Credit

Credit Building Credit Cards For Bad Credit

To rebuild a bad credit history, you must begin adding positive information to your credit score. The more positive information you can add, the more your credit score will improve. The trouble is finding credit cards for rebuilding bad credit. The majority of credit cards on the market are for people with good to excellent credit scores. Finding credit cards for rebuilding credit isn’t always easy. But, there are some credit cards out there that approve people who are rebuilding their credit.

Credit Cards for Bad Credit

Capital One has two credit cards with a reputation for approving applicants with poor credit scores. The Capital One Classic Platinum MasterCard and the Capital One Standard Platinum Card are very similar. The Standard card has a $19 annual fee and a 24.9% interest rate while the Classic card has a $39 annual fee and interest rates between 17.9% and 22.9%. Both cards are designed for applicants who’ve had late payments, loan default, bankruptcy, or limited credit history. If you’re approved, you’ll get at least a $300 credit limit.

Orchard Bank also has a line of credit cards aimed at applicants with bad credit history – the Classic, Gold and Platinum MasterCards. With Orchard Bank’s application process, you don’t choose the card. Instead, the bank lets you know which credit card you qualify for based on your credit history. If you don’t qualify for any of their unsecured credit card options, you’ll be offered their secured credit card.

Secured Credit Cards

Secured credit cards are good options for rebuilding credit because they typically don’t require a credit check. If you have enough money for a security deposit, then you can get a secured credit card. (Your deposit could be as low as $49 on the Capital One Secured MasterCard.)

Secured credit cards behave like regular credit cards. The difference is that you have a security deposit against the credit limit on the card. The deposit is put in a savings account and only used if you default on your credit card. Otherwise, your purchases go against your credit limit.

There are several good secured credit cards on the market – the Orchard Bank Secured MasterCard, Walls Fargo Secured Credit Card, and the Capital One Secured MasterCard made our list of best secured credit cards. Look for a secured card that reports to the major credit bureaus, has low annual fees, and converts to an unsecured credit card after a period of timely payments.

Other Credit Card Options

Retail credit cards are an option, but the high interest rate and limited use make them less attractive than other credit cards for rebuilding credit. Use these as a last resort.

Watch out for credit cards like the Applied Bank Gold Visa that charge extremely high annual fees relative to the credit limit – a $125 annual fee for a $500 credit limit in this case. These cards provide little benefit compared to the exorbitant cost you pay.

Finally, prepaid cards are a credit card or checking account alternative that can be used to make credit card and debit card type purchases. However, these cards don’t improve your credit score at least not the mainstream credit score that most lenders use to approve your applications.

Apply For Credit Cards With Bad Credit

Apply For Credit Cards With Bad Credit

If you've had a rough time of it and your credit score has been affected, you may feel like a financial leper. You may believe that you will never be able to borrow again. However, there are loans and credit cards for bad credit, you just have to know where to find them. As a rule, banks don't shout from the roof tops that they provide credit cards to borrowers with a poor credit history. If you phone them and ask about credit card applications you will probably be told it depends on your credit history. Yet, these cards definitely exist.

The easiest way to begin your search for credit cards for bad credit is to do an online search. Look for a specialist credit card site that has already done a lot of the research for you. These sites can save you a lot of time. Instead of having to wade through hundreds of credit card facts, you'll be able to compare a small selection of the best. Some of these sites will actually put a summary of this information into table form so you can easily compare the different cards. Once you have made a decision you will be able to apply online. This avoids the embarrassment of having to deal directly with another human being who might ask embarrassing questions about your credit history.

Credit cards for bad credit can be either secured or unsecured. They also come in all interest rate sizes. Look for cards with the lowest interest rates and lowest fees and charges. You should also look for low late payment penalties. Don't apply for a credit card unless you are fully aware of all the terms and conditions attached to the card. It is also important when comparing credit cards to make sure you are comparing the same things.

Furthermore, no matter what your current credit score, credit cards for bad credit can be used to improve your rating. The key to credit repair using a credit card is to make regular payments and not to go over the limit. If you are careful not to spend more on the card than you can afford to repay, you will be able to use the card to improve your financial position. You will also benefit from having the convenience of a credit card.

If you have a bad credit history, it may be helpful to seek the services of a professional debt counselor to determine the reasons for your debt. You may need to develop new financial behaviors to avoid repeating past mistakes. This is a very important step for developing a positive financial future.

These days, having a credit card on standby for emergencies is just about essential. Even if your credit history is poor, you will still find a number of credit cards for bad credit you can choose from. Choose and use your credit card wisely and you will be able to forge a more positive financial future for yourself and your family.

Visit , they will shows you how to apply for credit cards with bad credit and get zero APR credit cards.

Credit Cards For Bad Credit Guaranteed Approval

Credit Cards For Bad Credit Guaranteed Approval

I have bad credit and need a credit card, but where to look? When I have bad credit and need a credit card, I can find a variety of lenders willing to provide me a credit line online. Having no credit, or a poor credit score will not slow you down from finding all the convenience and ease of financing with a charge card.

Available Charge Cards for Bad Credit

You will have two options for a charge card when you are shopping with bad credit, namely a secured cards and unsecured cards. These two types of cards are often referred to by other names, but they amount to the same. Some of the names include:

Secured Cards:
  • Stored value card
  • Deposit cards
  • Prepaid cards
  • Pre-load cards
Unsecured Cards:
  • Charge Cards
  • No Deposit Credit Cards
  • Unsecured Charge Cards

Your two options to choose from when looking with no credit amount to whether or not you will have to put down a deposit, or an initial debit, to secure your credit line. A secured card requires you to either make a deposit or begin your account with a debit as collateral for the money you intend to borrow by making purchases. An unsecured credit line does not require this additional security measure but will typically charge higher interest rates to offset the additional risk.

Guaranteed Approvals - Apply Today

There are many easy to qualify for guaranteed charge programs that are willing to provide you another opportunity for building your score and establishing a good credit record. Modern living almost requires the convenience of a handy credit line for making purchases and providing extra security in times of cash crisis. Don't wait, start to rebuild your financial reputation today.

Need Bad Credit Cards? can help you find the top credit options for fast hassle free approvals.

Friday, March 2, 2012

Secured Credit Cards For Bad Credit

Secured Credit Cards For People With Bad Credit

Everybody goes through rough patches in their financial life. Sometimes there are circumstances that lead to getting behind on your bills, missing a few payments to your debtors. All kinds of things can happen that make it impossible for you to keep up. It could be a layoff or a slowdown at work. Lots of people have unexpected medical bills or car repairs they weren’t planning on. Cash starts to get tight, you have to make tough choices about which bills to pay and which to ignore. The worst case scenario happens and you miss a couple mortgage payments. Why can’t the credit bureaus just let a few slider right? Wrong. Just one or two 30 day or 90 day lates on your report can wreck your score. I guess a credit score is kind of like trust. Have you heard the saying? It takes a lifetime to build trust and only five minutes to lose it. You’ll understand what that means when you don’t send the mortgage check a couple of months in a row.

Luckily, these little financial slip-ups are temporary for most people. Your job will pick back up or you’ll find a new one. Pretty soon you’re sending all the checks in on time and you’re sleeping a little better at night. Once you get your finances in order again you’ll want to get your credit rating back on track as quickly as possible. One solution is secured credit cards for bad credit.

Credit card companies and banks are wary of anyone that has missed payments in the past; they think you’ll miss payments again. They don’t want to lend money that’s not going to be repaid. In other words, your good intentions aren’t enough for these guys. Go figure.

Rebuild with Secured Credit Cards

So here’s what you do – remove their risk. They’ll give you a credit card as long as you put something at stake – your cash. Show them you can handle a little piece of plastic with a logo on it, and if you consistently use the card and make payments on time you crawl out of the hole you got yourself in. That’s the best way to use secured credit cards to rebuild very bad credit.

It’s probably not a bad idea to open a few of these cards, and use them for your every day purchases – gas, groceries, clothes – the credit companies will like the fact that you’re handling the credit well.

Free Credit Cards For People With Bad Credit

Believe it or not, you will still be able to get a credit card even if your credit score is as low as it can get. The free credit cards for people with bad credit are not only for buying things you want but also for paying off debt. There are many credit cards that you will be able to use. One of the most popular credit cards is the Orchard Bank credit card.

This is a credit card which is great for credit score consolidation. This credit card is one of many free credit cards for people with bad credit. Many people use such cards to be able to get out of problems with their taxes, and they managed to increase their credit score afterwards. There are even more free credit cards for people with bad credit that you will be able to use.

For example, you will be able to get the Aventium credit card! This is a similar credit card that will help you stabilize and consolidate your credit score in order to have a high credit score! If you seem to have problems with your credit score then you should really think about getting a type of consolidation credit card!

Free credit cards for people with bad credit
are not easy to come by, but they do exist. These credit cards are free and they are specially made for people who have credit score problems and to improve credit. If you have bad credit, this is just the thing to make sure that you credit get back on the right track. Find free credit cards and use them wisely!

Free credit cards for bad credit references:

Credit Cards For People With Really Bad Credit

Credit cards for people with really bad credit are difficult to get, but they can be acquired with a bit of effort on your part.

Now, if you have less than stellar credit, you are going to have problems getting a card from most credit card companies. This is because with credit history that's in the red, you represent a significant risk for them.

This means it's a challenge to get such a card. You can still apply online for an unsecured credit card with poor credit history, but you probably won't get accepted - if you do, you will be give a card with VERY high interest and many restrictions placed on it.

The key then is to look at getting a secured card. Secured cards are great for many reasons - mainly you can use them to help rebuild your credit history and they are very easy to get.

The way a secured card works is that when you apply for one, you put a deposit down that becomes the card limit. Since you are essentially "paying" for the credit card, you stand a very good chance of getting an unsecured card with bad credit.

Indeed, if your credit history is poor, you will probably only be able to get a secured credit card for people with really bad credit.

Before getting a card like this, you need to look around online for the best credit card for people with poor credit. Companies offer different interest rates, so it's best to get the lowest interest rate secure card you can find.

Credit cards with bad credit are a good idea if you want to fix your credit history. really bad credit credit cards are the only type of card you will be able to get with really bad credit history. However, in time with proper use, you can get a better credit card.

Thursday, March 1, 2012

Credit Cards For Bad Credit Instant Approval

How to Get Instant Approval Credit Cards For Bad Credit

Credit cards are a convenience enjoyed by millions of people every day, particularly instant approval credit cards. With economy as it is today, many people use them on a daily basis for gasoline, food, major purchases or miscellaneous items. The average American consumer has at least six, which indicate all the different cards available today. As a way to be competitive with each other, many banks are offering instant approval credit cards.

Don't Let Bad Credit Hurt You

Instant approval credit cards are not limited to individuals with good or excellent credit. Although your credit scores may determine what kind of interest rate you'll be charged, they may not necessarily restrict you from getting one, especially with there are many offered almost everywhere we look. Newspapers, television and especially the internet are filled with such offers. While some offer high interest, some offer low interest and some offer other special features, the one thing most of them have in common is that they provide you with instant denial or approval. Accepting one of these offers may be, in fact, a way to prove your credit worthiness once again. By making your payments on time each month, your scores will gradually improve, making it possible to get cards with good terms.

What Offers Are Good?

With the many offers of instant approval credit cards floating around today, you may have a difficult time deciphering the good offers from the not so good offers. Even if you have poor credit or none at all and are desperate for one, don't just at the first instant offers you see. Shop around and look for the features that you will use, can afford and those that best suit your financial needs. Low interest, obviously, should be your first consideration.

Features such as rewards, cash back and bonus points are also great to have if you're going to use them and benefit from them. However, some of the cards may charge a higher interest rate to make up for the "freebies" you're getting so beware of these. Even though you may have less than perfect credit, you may still find it quite easy to get one instantly. The most important thing when applying for these offers is to look for the most economical one you can get.

About the author: Bill Glass, Editor-in-chief, is the leading credit card marketplace, bringing consumers and card issuers together online. Compare hundreds of offers side-by-side, calculate balance transfer savings and apply online. Visit our site to compare instant approval credit cards today.

Credit Cards For Bad Credit History

Credit Cards For Bad Credit History - How to Get One

A Bad credit history credit card can easily provide access to credit for anyone who will not qualify for a standard charge card due to a poor credit history. Most charge card companies do not want to deal with customers who have poor credit because of the risk of future default. However, there is a growing sector of special high risk charge card providers. A bad credit history credit card will work much the same way as traditional cards, but the interest rates and fees will be higher so as to help underwrite the risk. Although, if you pay the card off each month and do not go over the credit limit many of these costs can be avoided.

These Cards Will Help to Repair Bad Credit

There is one thing to keep in mind; a guaranteed acceptance credit card will only offer you a low charge amount. These amounts are usually only in the 200 to 300 dollar range. Remember, if you pay your monthly charges off in a timely and consistent manner you will greatly improve your credit score. Charge card companies and traditional lenders report to the leading credit reporting agencies, such as Experian, Equifax and Trans Union at the end of each month. Bad credit is not a forever condition, so using and paying on a bad credit history credit card to rebuild your poor credit may mean that you can become eligible for traditional charge cards relatively quickly.

Guaranteed Acceptance Card

A prepaid card or a guaranteed acceptance credit card does work differently than cards for poor credit. These ones have no charge limit, because the consumer fills a card with his/her own money to the amount that they desire. It does work in all the same ways as a traditional card, which is very convenient in itself. Another factor to remember is that no interest will be accrued because it is your money you are putting on the card. The down side is that there is usually a fee for using and re-loading the card. These types of cards do not report to the credit agencies as do the ones above because it is your own money you are using.

What are the Benefits of a Bad Credit History Credit Card

A charge card for poor credit provides you with more than just a way to pay for goods and services. They are also an excellent way to repair your score. Yes the annual percentage rate and fees will be higher than a traditional card, but making the payments on the card in a timely manner means that you will become eligible for traditional lower rate cards in as little as six to nine months. These types of cards do report to the credit monitoring agencies, so if you pay on time consistently your credit score greatly improves.

Wendell and Charmayne Vannatter are writers and bloggers who frequently write about the new best credit card offers. You may also want to check out their article on How to Apply for a secured Credit Card.

Instant Credit Cards For Bad Credit

Nowadays, there are a number of credit cards that offer instant approval, making it quick and easy to apply - especially online. However, instant credit cards for people with bad credit are not as simple, due to the high risk that those with a low credit score pose to the lender. However, it is now a lot easier than it was in the past to find a credit card even with an extremely poor credit rating.

Having a credit card is absolutely essential for most of us, whether it's to make certain purchases or to have access to individual services. The good news is that there are a number of credit card issuers that specialize in those with bad credit to ensure that just about everyone is entitled to a credit card when they need it! However, you do need to be careful when it comes to choosing and using your card.

When you find an instant approval credit card for bad credit you should try and find a card that is unsecured. This means that your home won't be at risk, and you won't have to put down a deposit, but it is important to remember that with this option you will be penalized by high interest rates. However, this should not be a problem if you choose to make all of your payments on time, spend carefully, and use the card as a way of ultimately boosting your credit score.

Instant credit cards for bad credit
are one of the best ways to get your credit rating back on track. However, you must be certain to use your card wisely otherwise your rating will only suffer further.

Find and compare the BEST credit cards for bad credit at

Wednesday, February 29, 2012

Small Business Credit Cards For Bad Credit

If you're a business owner or you want to open up a business in the future, you may find it tough to get a credit card or even a loan with bad credit. This alone can steer people clear of reaching their dreams of opening up their own business. What most people don't realize is that nothing should be able to stop you. Whether you have bad or good credit, there are always ways around things and let me show you how it can be done.

The first thing I want you to realize is that if you want to open up a business, you have to have a positive attitude and you have to think of alternatives for everything. If you're going to give up before you even start, maybe you shouldn't even open up a business. Do you get what I mean? Look at the popular business owners of today. Do you think they just started at the top? Absolutely not!

When it comes down to bad credit, I would recommend you look at loans and credit cards. Yes, you're going to see a higher interest rate but as long as you pay these off in full on time, you shouldn't have anything to worry about. There are many options out there and if all else fails, ask friends and family. You never know who's going to lend to you. If you take Amazon for example, the founder Jeff Bezos, asked his Mom and Dad for money to start that business up and look where it's at today.

Find small business credit cards for bad credit for your business today all at, where you can even find more of Tom's work.

Credit Cards For Bad Credit Unsecured

During these difficult economic times, many of us are struggling with our finances and need to turn to options like unsecured credit cards for bad credit. Having a bad credit rating means that you are less likely to be able to get a regular card from issuers, and other issuers may include many hidden fees to make it even harder. Fortunately, many reputable financial institutions are willing to help people with bad credit.

An unsecured credit card means that you will be benefiting from all the features of a regular card without the need to provide security. Whilst it is true that many issuers will only provide unsecured credit to those who prove themselves in a finances and debts check, they are still offered to people with bad debts. Check all the rates, terms and conditions before you sign up.

When you start your search for unsecured credit cards, bear in mind that the interest rates on these cards are higher than with secured cards. This is due to the fact that people with a lot of debt are generally more risky to the lender, so make sure you make regular payments or you could find yourself borrowing more than you can afford to pay back your debt. Missing your monthly payments will only make your credit score worse, but if you are diligent you could find your rating improving in no time at all.

Many of us will see our credit rating fall at some stage or other, at times due to factors outside of our control. But this doesn't mean that your options should be limited, so start shopping around and you will find many issuers of unsecured credit cards for people with bad credit.

Tuesday, February 28, 2012

Unsecured Credit Cards For People With Bad Credit

Working Towards Unsecured Credit Cards For People With Bad Credit

I have personally struggled with my credit in the past and want to help people with bad credit to understand how to overcome this difficulty. I now have excellent credit and you can too.

Getting unsecured credit cards with bad credit is extremely hard in today’s climate. Banks are in trouble right now. My credit card company used to increase my available credit limit almost every month. They won’t do it anymore because like most banks, they are struggling. This affects people that don’t have cards because it’s slightly harder to get approved. I pay off my card in full each month, have a 770 credit score, and make more than $12,000 per month. I guess they want to give their credit to people who are more qualified. :)

Since credit is a little harder to come by than it was a few months ago, I want to teach you how to play the game. Getting unsecured credit cards for bad credit isn’t the same game it was in the past. It’s something you’ll have to work towards, starting today.

The best shot you have is at your current bank – the bank where you have your current checking account. Step one is to go to your bank and apply for a credit card. If you don’t get approved, I have more options for you. I they tell you that they’ll notify you by mail that means you weren’t approved and you can move on to step 2.

Get A Secured Card First

If you didn’t succeed at your bank, you need to get a secured credit card today. Don’t waste time because with credit, every day counts. The sooner you can open up a credit line, the sooner you’ll be able to get a regular, unsecured line of credit.

When I took out my first secured credit card, I had a FICO score of under 500. Getting my card cost about $400 because I had to put down a deposit of $300 and pay a fee of $100. That card was one of the smartest decisions I ever made. My limit was $300 (the amount of my deposit).

I paid that card off every single month and in a few short months, I started getting offers for legit, unsecured cards in the mail. I took out a few of those cards and the rest is history. It’s been a few years now but my credit score is now almost 800. I took control of my situation and can now get any loans I want, at the best interest rates out there.

Additional information:
FICO stands for Fair Isaac Corporation, which is the company that created the industry standard credit scores used by almost all lenders. FICO has been in business since the 1950s but began building the famous FICO score in the mid 1980s.

A “FICO score" is simply a numeric summary of the information in your credit reports that represents your potential credit risk. These scores are delivered to lenders when they purchase your credit reports and review your application. A higher FICO score means that you are a lower credit risk and you will probably be approved at better rates and terms than if your FICO score is lower. If you have low scores, you could be approved with less attractive interest rates or be declined all together.

The highest FICO score you can get is 850 and the lowest is 300. The vast majority of the U.S. population scores between 500 and 799. It is very uncommon to have a credit score over 800. Anything over 750 is considered an excellent score.

Unsecured Credit Cards For Bad Credit

Find Unsecured Credit Cards For People With Bad Credit

If you need money fast but don't have good credit, you might want to try unsecured credit cards for people with bad credit. These unsecured credit card offers are very easy to get approved for regardless of your past credit history, are very flexible and often can approve your application quickly. That being said there are secrets of unsecured credit cards for people with bad credit that you should know if you want to avoid unnecessary costs and fees.

Unsecured credit cards for people with bad credit are saddled with higher interest rates and additional costs than you would otherwise expect from a traditional credit card offer. After the recent credit crisis, this understanding of additional costs for troubled credit is even more true than before. That being said, we sometimes find ourselves in need of additional credit for emergencies or to help rebuild your credit by establishing a responsible payment history after any personal finance disasters.

Prepaid credit cards are easier to get approved for but will not extend credit without deposit funds for collateral. These secured credit cards will then not meet our credit requirements, but not to worry there are many bad credit programs available that offer unsecured credit. Let's delve into how to find the programs that offer unsecured credit cards for people with bad credit.

The key to finding the best rewards when looking for a new credit line is to compare multiple offers. I cannot stress how important this is in your credit line search online. Try not to fall into the common trap that consumers most often find themselves by accepting the first application that you get approved. Use the power of the internet to apply for multiple offers and compare your notes for the various offers.

This is essential for a couple reasons and is the true secret of bad credit cards. Let me explain. Unsecured credit cards for people with bad credit make their money with fees and costs both on the front end and the back end of your financing term. This is not as common for good credit offers that are competing more directly for your safe loan so you might be surprised with some of the methods the bad credit cards charge fees. Unsecured credit lines can have annual fees, high interest rates, up front deposit amounts, low credit line limits and many missed payment fees. These missed payment fees are their bread and butter and you would be wise to read carefully what you are agreeing to.

In summary, the best approach is to use the unsecured bad credit card game they play against them. In most cases they expect you to miss payments, have trouble with on time payments, and not meet the stated terms of your credit agreement. With discipline, and a sound personal finance approach you can acquire the credit you need and avoid the fees and penalties that truly make these unsecured credit lines costly.

Ariel Pryor is owner and He is a consumer credit expert who helps people with Bad Credit to find financing with loans and or credit card offers despite their credit history.

Cash Advance Interest on Credit Cards

Things You Need to Know About Cash Advance Interest Rates

As a credit card holder you are very much aware that credit card interest rates are the basis for how much you will end up paying for your debts. On the other hand, you are probably aware that balance transfer rates are different from your normal purchase interest rates and these balance transfer rates can help in saving on interests, especially if you are going to transfer your balance to a new credit card.

More about cash advance rates:

If you are going to use your credit card in order to obtain instant cash, then you will be using a cash advance feature wherein the interest rate is actually the APR or annual percentage rate. There are some cases where this rate can be as low as the purchase rate, but usually, most of the cash advance rates are higher.

The importance of knowing about cash advance rates:

There are a lot of reasons why you need to know how cash advance rates work before you are going to submit a credit card application. Here are some of the reasons:
  1. A cash advance rate applies not only to ATM withdrawals. In general, you will be charged with cash advance rates when you are going to use your credit card for paying bills and purchasing traveler’s cheques.
  2. Balance transfers might be affected by cash advance rates. Policies would usually vary from one credit card company to another. Some companies will charge you a cash advance rate if you are going to transfer your balances, those that are not paid during the introductory period (i.e. your existing credit card debt.)
  3. There are no interest free days with cash advances. The 55 interest free days that are applicable to regular purchase rates are usually not applicable to cash advance rates. This simply means that a cash advance interest rate would immediately apply as soon as you have withdrawn cash.
Typically cash advance rates are not noticed by credit card applicants. People usually look for APR rates , card fees and other bonus features and entirely forget to check the cash advance rate in the process. Before you are going to submit your application for a credit card, make sure that you carefully read the terms first.

If you are interested in using a credit card for cash advances, you should think twice. Cash advances should really only be used for emergencies.

Sunday, February 26, 2012

Best Credit Cards For Bad Credit

These 7 best credit cards for bad credit are the superheroes of the banking world, say industry experts, providing low fees and sane rates to people trying to build or repair their credit.

1. Orchard Bank credit card

Orchard Bank, part of megabank HSBC, offers three credit cards plus a secured card for consumers needing to rebuild their credit. You simply apply and the bank decides which card you qualify for based on your credit worthiness.

The unsecured cards come with annual fees ranging from $39 to $59, depending on credit history, and APRs range from 14.9% to 19.9%, also based on your credit.

To put that in perspective, a credit card like the Applied Bank Unsecured Visa Gold - which also targets consumers with poor credit -- comes with a 29.99% APR for all customers.

If your credit history is really bad, you will likely end up with a secured card. These work like a regular credit card, but you put down a deposit of your own money. (That's why their interest rates are typically lower than those of regular unsecured credit cards.)

But even if you only qualify for a secured Orchard Bank card, it isn't a rotten deal. You have to make a $200 minimum security deposit - which is refundable and typical for secured cards -- but the APR is a low 7.90% and the annual fee is $35 and is waived the first year.

"I like these [Orchard Bank] cards because let's say you're on the bubble between bad and poor credit, you might be able to get a better deal with one of these cards," said Beverly Harzog, credit card expert at "Even if you do have really bad credit, this is one of the easiest unsecured cards to get, and if you don't qualify then see if you like the terms of the secured card."

2. Capital One Secured MasterCard

The annual fee on this secured card is a reasonable $29, and while most secured cards require security deposits of around $250, you can deposit as little as $49 and still get a credit line of $200. If you deposit more -- like $99 or $200 -- you can increase your credit line up to $3,000.

"It's more of a secured card than an unsecured card, but it's both, which is very nice," said Curtis Arnold, founder of "And some people just don't have 200 bucks to put down as a deposit, so only having to put $49 down is great."

In addition, there are no foreign transaction fees - which is true for all of the bank's debit and credit cards. And the card reports to the three major credit bureaus.

But if you carry this card you should vow never, ever to carry a balance because the APR is a high 22.9%.

3. Navy Federal 'n Rewards Secured Card

If you have a military connection, the Navy Federal Secured Card is one of the best options for people with poor credit.

The card, issued by Navy Federal Credit Union, comes with an APR as low as 8.99% and no annual fee. Cardholders also earn a point for every dollar they spend, which they can then redeem on merchandise or gift cards.

The card reports to the three main credit bureaus, and after 12 months, you can be switched to an unsecured card.

"I realize not everyone can apply for this, but the terms are really good and there are a lot of people who have military ties and can become a member of NFCU," said John Ulzheimer, personal finance expert at

4. Citi Secured MasterCard

While most secured cards require you to make a deposit that the issuers hold onto in a no-interest savings account, the Citi Secured MasterCard invests your deposit in CDs. Plus, there's a pretty low $29 annual fee and no monthly maintenance fees.

There is, however, an 18.24% APR. So if you plan to carry a balance, choose another card with a lower APR.

"Normally I would never recommend a card with an interest rate that high, but if someone is using it to just rebuild credit and not carrying a balance, you get to invest your money in a CD so you're getting something back," said Beverly Harzog, credit card expert at

In addition, while you could be stuck with other secured cards for years, Citi will consider graduating you to a better, unsecured card after 18 months.

5. Mango Prepaid MasterCard

Personal finance experts typically warn consumers against prepaid cards because of their unreasonably high fees. But the Mango Prepaid MasterCard is one of the exceptions, carrying some of the lowest fees in the industry.

While secured cards typically require you to put down a refundable deposit to use the card like a credit card, prepaid cards are simply loaded with your own money. You don't pay interest on these cards, but they also don't report to credit bureaus.

That means prepaid cards are best for consumers who aren't necessarily concerned about building their credit.

"Prepaid cards are good for someone who has no bank account, doesn't have money for a deposit, or isn't ready for a credit card," said Beverly Harzog, credit card expert at "It's important not to step back into the credit card game if you're not ready to control your spending."

Unlike most prepaid cards, the Mango card doesn't have an activation fee, and the card actually comes with a $20 signup bonus when you enroll in free direct deposit. There's no charge for customer service calls, and it's free to load your card with money from your bank account.

Compare that to a prepaid card like the BabyPhat Rush Card, which costs $14.95 just to own and charges $9.95 per month, along with $1 per transaction depending on the plan you choose.

But ATM-frequenters, beware: Like most prepaid cards, the Mango card charges you $2 for ATM withdrawals, and it costs you 50 cents to check your balance.

6. Capital One Cash Rewards for Newcomers

This is a credit card aimed at people who are new to the U.S., but anyone looking to build their credit can apply and be approved for the card.

While the APR is a relatively high 24.9%, there's no annual fee, no foreign transaction fee, and the card offers 2% cash back on travel purchases and 1% cash back on all other purchases.

You can get that cash back any time, as an account credit or check - or you can set up automatic redemption. The card also reports to the three major credit bureaus.

"If someone is new to the States, understands how credit works here and knows not to carry a balance, this could help them establish credit and they could get cashback rewards at the same time -- which is rare for a card like this," said Beverly Harzog, credit card expert at

7. Open Sky Secured Visa Card

The Open Sky Secured Visa Card boasts a low interest rate and requires a typical deposit of $200 to get a credit line of up to $3,000.

The APR on the card is 9.75%, which is pretty much as good as it gets for consumers with lousy credit. In fact, the average APR on a typical unsecured credit card is just above 14%, according to

The issuer, Public Savings, says it will accept anyone -- there's no credit check for approval. Plus, they report to all three major credit bureaus to help you build your credit.

The one drawback: an annual fee of $50. But this is one of the only fees cardholders will be hit with. Another is the $25 charge to increase or decrease your credit limit after a year, but this can be avoided if you plan ahead and get the credit limit you need when you sign up.

"So many other cards nail you with tons of extra fees that you don't even know about, but this one is really just that $50 right up front," said Bill Hardekopf, credit card expert and CEO of

Credit Cards For People With Bad Credit

Credit Cards for People with Bad Credit - Where To Start?

How can you get credit cards for people with bad credit? Well, a great place to start is right here on this vast expanse we call the internet. The internet is full of many different offers for credit cards for people with bad credit, that you should have no real problems in finding them. Just visit your favorite search engine, such as Google or Yahoo and type in the keywords "Credit Cards for People with Bad Credit", you will be surprised at how many result you come up with.

After that, the choice is yours as to which credit cards for people with bad credit you will choose to apply for. Here are a few things to keep in mind when deciding which credit card you should choose:

Interest Rates

While it is true you will have to pay higher rates interest than someone with great credit, it does not mean you will have to take the most expensive one. Shop around and look for credit cards for people with bad credit with an interest rate that appeals to you or that you can afford. There is really no point in getting a credit card that has an outlandish finance charge that you would not be able to afford.


While looking for credit cards for people with bad credit, make sure you choose a card that offers you opportunities or rewards for improving your credit rating or paying your bill on time. Some credit cards for people with bad credit might offer a grace period in which if you pay your balance in full, you will not be accessed the finance charge, which will save you a great deal of money.

Another credit card might offer that if you pay the minimum payment on time each month for some many months, they might drop your rate of interested. Many will offer to decrease your interest rate and increase your credit line if you improve your score or make all payments on time for a specific period of time. Most credit cards for people with bad credit companies review your credit report every six months to a year, if you are showing improvement, you may find yourself back on the right financial road.

The author Blake Hendrickson is owner/operator of several financial sites including sites specializing in bad credit credit cards. Visit his website at for more information about credit cards for people with bad credit.

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