In this article we are going to take a quick look at credit cards for poor credit.
If you've suffered the ignominious fate of a low credit score, you can certainly relate to having the need for an emergency card, yet finding it very difficult to get yourself approved.
Well, I'm here to give you some GOOD news, but to also provide fair warning.
Read on to learn why.
All Cards are NOT created Equal.
If you are shopping for a credit card from a position of weakness, one of the very first things you'll notice is that many of your options are simply unacceptable.
How? Most banks will require you to put up a deposit equal to the amount of the line of "loan" extended.
This is commonly referred to as a secured card, and is, in my opinion, I very fair deal for those of us who have had problems in the past.
Many of these cards though, upon further inspection, will charge you a monthly "fee" for any number of small things that ordinary cards provide as a matter of courtesy, making these not only insulting, but a financial drain as well.
Keep your eyes peeled on the fine print when applying, making note of ANYTHING that seems strange, out of the ordinary or even potentially against the law.
And don't laugh...
several issuers have been sued and shut down for deceptive practices for taking advantage of people who had no where else to turn.
It happens, and if you don't know what to look for, it WILL happen to you as well.
In the end, you CAN get a credit card with less than perfect, even an outright BAD fico score.
You are going to settle for less than what you would have gotten otherwise, but that is ok.
You have a chance to re-establish yourself, and fast - and as long as you do your part, you will be BACK where you belong in no time flat! Trust me, I've been there and the trip up can be just as quick as the one down.
Good luck!
If you've suffered the ignominious fate of a low credit score, you can certainly relate to having the need for an emergency card, yet finding it very difficult to get yourself approved.
Well, I'm here to give you some GOOD news, but to also provide fair warning.
Read on to learn why.
All Cards are NOT created Equal.
If you are shopping for a credit card from a position of weakness, one of the very first things you'll notice is that many of your options are simply unacceptable.
How? Most banks will require you to put up a deposit equal to the amount of the line of "loan" extended.
This is commonly referred to as a secured card, and is, in my opinion, I very fair deal for those of us who have had problems in the past.
Many of these cards though, upon further inspection, will charge you a monthly "fee" for any number of small things that ordinary cards provide as a matter of courtesy, making these not only insulting, but a financial drain as well.
Keep your eyes peeled on the fine print when applying, making note of ANYTHING that seems strange, out of the ordinary or even potentially against the law.
And don't laugh...
several issuers have been sued and shut down for deceptive practices for taking advantage of people who had no where else to turn.
It happens, and if you don't know what to look for, it WILL happen to you as well.
In the end, you CAN get a credit card with less than perfect, even an outright BAD fico score.
You are going to settle for less than what you would have gotten otherwise, but that is ok.
You have a chance to re-establish yourself, and fast - and as long as you do your part, you will be BACK where you belong in no time flat! Trust me, I've been there and the trip up can be just as quick as the one down.
Good luck!
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