Bad Credit Doesn't Rule Out Unsecured Credit Cards
Many people believe that because of their bad credit, unsecured credit cards are not available to them. While it may be more difficult, there are options for people with bad credit who want an unsecured credit card to build their credit or have available for use in an emergency. While a secured credit card is the most commonly recommended option for people with bad credit, unsecured credit cards ARE available - even for those with the worst credit.Bad Credit: Unsecured Credit Cards vs. Secured Credit CardsOne of the easiest ways to get a credit card when you have bad credit is to opt for a secured credit card. With a secured credit card, you deposit money in a bank designated by the credit card company to serve as a 'security deposit' - an assurance that they'll get their money if you default on payments.
Depending on the lender, that deposit might be equal to your desired credit limit, or slightly higher or lower. A security deposit of $300, for instance, might get you a $150 line of credit with one company, a $300 line of credit with another, and a $400 one with yet a third. The interest rate is generally competitive, since the company has a guarantee of getting its money if you don't make payments.An unsecured credit card requires no security deposit. A bad credit unsecured credit card will often have either a high APR (annual percentage rate), high fees, or both. How do the two stack up against each other? Here's a comparison from two actual credit card offers that are sitting on my desk as I write:Secured Credit CardSecurity Deposit: $250Annual Fee: $35Setup Fee: $35APR: 15.40%Credit Limit Increases: $100 increments, each require $100 depositBottom Line: It will cost you $370 to maintain a $250 credit limit for the first year, with at least $250 up front, at an APR of 15.40%.
You'll have $170 available credit upon receipt of your card. You'll have to put up an additional $100 every time you want to increase your credit limit.Bad Credit Unsecured Credit CardAnnual Fee: $48Setup Fee: $29Participation Fee: $72 (annual, billed at $6 monthly)Program Fee: $95 (one time fee)APR: 9.9%Credit Limit Increases: $25 (per increase of $100, at their discretion)Bottom line: It will cost you $244 for the first year, all of it billed to your credit card on your first statement, to maintain a $250 credit limit with an APR of 9.9%. You'll have $72 credit available upon receipt of your card.In the long run, while a bad credit unsecured credit card may cost you more, you won't be tying up your money up front. Either card will help repair your credit as you make payments on time and regularly, but the unsecured card has an APR that's almost 5% lower. You're the only one who can decide which is the better option for you - but it makes sense to weigh all your options before you decide that your only way to have a credit card is with a security deposit.@ Copyright 2005 - Bill A Smith.
Bill A Smith is a credit counselor for http://www.americreditservices.com/ Feel free to visit our bad credit help center at http://www.americreditservices.com/bad-credit/Credit Report ? Look Out for Your Debit Report, Too
Most consumers are aware that there are companies that keep track of their personal financial transactions ? installment loans, mortgages, credit card accounts, bankruptcies and judgements. These items are assembled by the three main credit bureaus into a credit report, which is available upon request by lenders, employers and anyone else with whom a consumer might do business. The credit report tells these people, in a simple, summarized form, whether or not a consumer is worthy of more credit or another loan. What few people realize is that there is another firm that keeps track of the banking transactions by American consumers, and that information is available only to banks in the form of a debit report. You may not have heard of a debit report, but it can affect you in ways you may not even realize and can prevent you from opening a bank account.
The debit reports are compiled and maintained by a company called ChexSystems. ChexSystems maintains a database of banking transactions...
Credit Report ? Look Out for Your Debit Report, Too
Credit report > Credit Report ? Look Out for Your Debit Report, Too
Identity Theft and Credit Report Damage Expert Attorney to Address Southern California Realtors
(ContentDesk) August 20, 2005 -- More than 25% of consumer credit reports surveyed contained "serious errors that could result in the denial of credit, such as false delinquencies or accounts that did not belong to the consumer"
according to a 2004 report by the National Association of State PIRGS (Public Interest Research Groups). The majority of consumers never know anything is wrong until they try to purchase or refinance a home. Century 21 is committed to educating its real estate professionals to assist consumers in identifying problems and referring them to professionals who can help.
Century 21 Broadview Realty has called upon an expert attorney in the area of identity theft and wrongful credit report damage, Robert F. Brennan of Brennan, Wiener & Associates, to address its realtors and agents on August 26, 2005 at 1 p.m.
The location is at 3600 Oceanview Blvd., Ste. 5, Glendale, Calif. "If consumers and real estate professionals don't know the basics...
Identity Theft and Credit Report Damage Expert Attorney to Address Southern California Realtors
Credit report > Identity Theft and Credit Report Damage Expert Attorney to Address Southern California Realtors
Bad Credit Business Credit Cards
Before granting credit to a prospective customer, a firm must ask the question: How credit-worthy is this customer? In truth, one mistake in judging the customer can lead a firm into bad credit.
In judging the credit-worthiness of an applicant the three basic factors -- the three C's (character, capacity and collateral) -- should be taken into perspective.
Character refers to the willingness of the customer to honor his obligations. It reflects integrity, a moral attribute that is considered to be very important by credit managers. Capacity refers to the ability of the customer to pay on time. This depends on the financial situation, particularly the working capital position and profitability, and the general business conditions affecting the performance of the customer.
Collateral represents the security offered by the firm in the form of mortgages.
There are several ways in which you can find out whether a customer is likely to pay his...
Credit report > Bad Credit Business Credit Cards
Is An Instant Credit Report For You?
So what exactly is the difference between a regular credit report and an instant credit report? I was curious about the answer since every time I looked into obtaining my credit report, I found certain websites enthusiastically offering an instant credit report. What I found was that most credit reports actually are instant, so it doesn't matter. Obviously, the difference is time. The time is mostly determined by the form in which you plan to receive the credit report.
Your credit is tracked by three main credit reporting agencies: Equifax, Experian, and Tans Union. By law, you are entitled to a free copy of your credit report once every year.
You can obtain the report through the federal government. Whether or not it is an instant credit report depends on how you order it and how you choose to receive it. Whether you want a printed paper by mail or an email with the information will play a big role in whether or not your report will be quick, and therefore, instant.
Credit report > Is An Instant Credit Report For You?
How To Report An Error On Your Credit Report
Have you been turned down for a loan recently? Have you applied for store credit and been refused? Did you really want that car and find out that because of your 'credit score' that they would have to require an unreasonable down payment? Credit reports are designed to help businesses evaluate the risk factor in giving you money or valuable products on a line of credit. The Fair Credit Reporting Act promotes the accuracy, fairness and privacy of information in the files of the nation's credit reporting agencies. The act is enforced with regard to the consumer's rights and requiring new responsibilities for the credit reporting agencies. For example, a reporting agency must give you a copy of your report and they must provide a list of every inquiry about your credit report within the last year. The agencies collect data on personal identification (name, address, social security number, current employer, etc), payment histories with all current and closed lines of credit that details...
How To Report An Error On Your Credit Report
Credit report > How To Report An Error On Your Credit Report
Credit Report ? Watch Out for Parking Tickets
The economic downturn of the last five years has affected millions of Americans, but it has also affected the budgets of states, cities and counties. With limited tax dollars with which to work, various government entities have had to try to stretch their budgets to allow them to continue to function. Many government agencies at the state and local levels have turned over debt collection to collection agencies, even for such seemingly small debts as parking tickets or library fines. What does this mean? An unpaid parking ticket could end upon on your credit report. Credit reports and the associated FICO credit score have become an increasingly important part of the lives of Americans.
At one time, the credit report was primarily used by mortgage lenders to determine if a prospective customer should be granted a loan. In recent years, the credit score and report have been used for an increasingly large number of uses by all kinds of companies. Employers use them to avoid hiring...
Credit Report ? Watch Out for Parking Tickets
Credit report > Credit Report ? Watch Out for Parking Tickets
Bad Credit Doesn't Rule Out Unsecured Credit Cards Credit report
Great Giveaways or Shameful Promotions- The Truth About Free Contact Lens Samples!
Extra, Extra, Get your free samples of contact lenses here...So you are looking for free samples of contact lenses? Perhaps you saw a commercial that said "visit our website for a coupon to receive free samples of contact lenses." Or, "see your eye care provider today for your free pair of so and so lenses."While this a great way for lens manufacturers to have you try their brand of contact lenses, most contact lens fitters do not require such coupons.In order to get free samples of contact lenses,...
Bad Credit Doesn't Rule Out Unsecured Credit Cards Credit report
Credit report > Great Giveaways or Shameful Promotions- The Truth About Free Contact Lens Samples!
Ford To Be Part Of Texas Football
Texans are known for lots of things ? the hot weather, their love for ranches, and football. You can also add to the list their love for pickup trucks which is not very surprising. After all, pickup trucks are very useful in their everyday lives ? from their home duties to work responsibilities. What makes pickup trucks unique among all vehicles is that this type is very flexible and could handle various duties.
And now, the Ford Motor Company is using this Texan love for...
Credit report > Ford To Be Part Of Texas Football
Bad Credit Doesn't Rule Out Unsecured Credit Cards Credit report nursing courses
Moissanite Jewelry, An Affordable Alternative to Diamonds
Fifty thousand years ago, a meteorite landed in the Arizona desert. It wasn't until 1893 that scientist Dr. Henri Moissan (who later became a Nobel Prize winner) discovered particles of a new mineral, silicon carbide, which was taken from the meteorite's crater (it was later named moissanite in his honor). Natural moissanite crystals large enough for use in jewelry are extremely rare because they are found in limited quantities or as small particles.
In the 1980's, Charles & Colvard...
Credit report > Moissanite Jewelry, An Affordable Alternative to Diamonds
Ladder Safety Tips
One of the many tools that home owners use regularly is a ladder. Whether you need to change the porch light bulb, clean the gutters or put something in the top of the closet. You may need a ladder to get the job done!While ladders seem harmless enough and they are useful tools, accidents can still happen if you don't follow some simple safety tips. You may be shocked to hear that each year; more than 400,000 people are injured from a ladder accident and end up in the emergency room or doctor...
Bad Credit Doesn't Rule Out Unsecured Credit Cards Credit report Ladder Safety Tips
Credit report > Ladder Safety Tips
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