If you have a credit score that is somewhat on the low side, and if you have spent some time recently going over the offerings there are in credit cards for people with bad credit, have you heard of the cards that have been designed specifically for people like you, that can help improve your credit rating alongside of helping you spend money? It doesn’t matter how your credit score got where it is today – an expensive divorce, carelessness with your money and a trip to bankruptcy court or maybe he haven’t had enough time to establish a proper credit score yet because you are just starting out in life. There are options you still have in opening a credit card and getting your credit rating back. Let’s look at a few examples of credit card you have in this aim.
Consider the Ultra VX Visa card from the Millennium Bank. This is a secured credit card with a low annual percentage rate. The “secured” part of that description means you have to leave a deposit with the bank for as much of a spending limit as you desire. With the Ultra VX, you egt to leave a deposit as high as $25,000 with them for a spending limit that goes about that high. The card comes with a 25 day repayment grace period too. Applied Bank’s cards come with a great low 10% APR. Of course, since these are credit cards for people with bad credit, they don’t trust you to not default. They offer secured credit cards. The wonderful thing about these cards is that their low APR applies to both cash advances and purchases. The downside is that they don’t give you a grace period. They also charge you an annual fee and a late payment fee.
So much for credit cards for people with bad credit; how about something to help out those who just have trouble getting a credit card with decent terms because they haven’t had a chance to establish a credit history? The Discover student card is great for students and recent graduates. It comes with a reasonable APR, and it’s for people who have no credit history at all. Orchard Bank’s unsecured credit card is a great way to go too. Their annual fee isn’t much, and you do have to pay an accounting fee upon opening your account. Getting your credit back on track isn’t easy. As you start out, you are likely to have to pay the price for not having a credit history. With time though and with a little care, establishing a credit record should be no trouble, and you’ll have every credit card company preapproving you for cards.