Unsecured Credit Cards For Bad Credit! here's the tricks!
If you have bad credit score and want to have unsecured credit cards without making any deposit! here the list of credit card company with instant approval or less headache! first of all before I give the list, I want to give something or some Enlightenment! Why people have bad credit score! first, most of them don't have additional income! secondly they have shopping hobby that not lead into productive way! and the last is, 5hit happen! if we look into this 3 reason, the biggest problems with bad credit score, are simply because no income to cover their shopping hobby!
anyway, since this articles about credit card for bad people!(ooops) (just kidding) I mean for bad credit! here's the list of the best company for bad credit! some secured and unsecured credit card!
Unsecured Credit Cards For Bad Credit or No Credit
If you have bad credit and want a credit card, it’s easy to get a secured credit card with an annual fee, but more difficult to be approved for an unsecured credit card with no fee. The list below features unsecured credit cards you might apply for even with bad credit. There is no guarantee of approval, but these are cards that either work with average to poor credit people, or have been rumored to give a second chance to those with bad credit.
- Indigo® MasterCard® for Less than Perfect Credit – Pre-qualify today without an impact on your credit score. Helping consumers with limited or damaged credit make a fresh start for over 12 years. Prior bankruptcy is OK. Account history is reported to the three major credit bureaus in the U.S. ++
- Fingerhut Credit Card – Internet/catalog retailer with a long history of working with people who’ve had “credit challenges in the past.” Offers an unsecured credit card to let you finance items from its extensive catalog of clothing, electronics, home furnishings, more. ++
- Credit One Bank® Unsecured Visa® for Rebuilding Credit – See if you Pre-Qualify without harming your credit score. 1% cash back on eligible purchases, terms apply. No deposit requirements and opportunities to build your credit. ++
- Capital One Platinum Credit Card – This card is marketed by Capital One for “average credit” customers, but Capital One uses criteria such as having defaulted on a loan in the last 5 years as still qualifying as average credit, which signals that they probably consider bad credit customers. It has no annual fee but a very big 24.99% interest rate.
Credit cards from retail stores are often easier to be approved for on an unsecured basis, but they also usually carry very high interest rates. For example:
- Staples Credit Card – You can probably get approved for this card, which will let you stock up on office supplies at a sky-high 28.74% interest rate!
- JCPenney Credit Card – May approve bad credit customers for an unsecured credit card, but the interest rate is an astounding 26.99%!
- TJ Maxx Credit Card – Another unsecured credit card but with a 27.49% APR (annual percentage rate).
- Macy’s Credit Card – May approve less-than-perfect credit customers, but notice the 25.99% interest rate.
- American Eagle Credit Card – Unsecured store credit card has a 24.49% or 25.49% interest rate.
- GAP Credit Card – Unsecured card that can also be used at Old Navy and Banana Republic and Athleta in addition to the GAP. Carries a 25.49% interest rate.
- Chevron / Texaco Visa – Unsecured gas credit card has a 27.49% interest rate.
++ Indicates that this site receives compensation when you are approved for this card.
Credit One Bank® Platinum Visa® for Building Credit - See if you Pre-Qualify without harming your credit score. +This fully unsecured credit card with no deposit requirement can be helpful in growing or building credit. Your account activity will be reported monthly to all three major credit bureaus. +All the features you want in a credit card are included. Get 1% cash back on eligible purchases, take advantage of free online credit score tracking, and enjoy credit line increase opportunities. Terms apply.
Unsecured Credit Card Bad Credit - Can I Get An Unsecured Credit Card With Bad Credit?
Bankruptcy filings in http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2009 reached a whopping 1.41 million. Staggering as that sounds, it still falls short of the http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2006 record with nearly 1.8 million. Credit card defaults also skyrocketed in http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2009 and reached a http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/20 year high.
American Express and Citigroup took the biggest hits. Chase and Capital One were not far behind. Charge offs are estimated to exceed $75 billion.
In an attempt to stop the bleeding, creditors have drastically reduced credit card limits, sometimes to a few hundred dollars over the outstanding balance. This is the creditor’s way of motivating consumers to pay down their balances without accumulating more debt than they can handle.
Regardless of your credit history, there are always credit cards to be found. Bad credit unsecured credit cards are an ever growing business. In these cases unsecured bad credit cards come with a price. Many issuers charge activation fees up front, putting you in debt before you ever get the card. Although new credit laws have reduced the amount these companies can charge to http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/25% of the credit limit, you are still going to pay over $100 for an unsecured credit card with a $500 limit.
There are some good and some really poor sources for unsecured credit cards . Some are a bit costly but they are a good way to repair bad credit. Let’s compare some of these bad credit options.
American Octane Onyx Card
This is an unsecured credit card for those with bad credit, however you cannot use it like you would a Visa or MasterCard. This unsecured credit card guarantees 100% credit approval, regardless of your credit history. Credit limits start at $500 and can go up to $1http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2,500. Stay away from this one. Here’s why:
1. Although they tout 0% interest forever, there is a ‘one time processing fee’ of $1http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/29 to activate the card. Not so bad, huh? Well, be prepared. They also charge you a ‘nominal monthly fee of $&.959rsquo;, to keep the account active.
http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2. You are not getting ‘credit9rsquo; in the traditional sense of the word. What you are getting is unsecured ‘merchandise credit’. What does that mean? You are only allowed to use this ‘credit card’ at their online shopping website. Not only does this online store have an extremely limited inventory, what they do have is laughable and ridiculously overpriced.
This is a classic MasterCard with all the benefits. There is a cost associated with this unsecured credit card but it is a credit card nonetheless. Let’s take a look:
1. Orchard Bank charges an annual fee for the first year ranging from $0-$74. After that, the annual fee can be $35-$79. This is a variable rate credit card where APRs can range between 7.90%-http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/28.90%.
http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2. Your Orchard Bank MasterCard accepts balance transfers. Although the interest rate fluctuates, keep in mind that unsecured credit card issuers are taking a risk by extending credit.
3. Orchard Bank rewards its customers with incremental credit limit increases when displaying good credit habits. This information is reported to all 3 major Credit Bureaus which will help you rebuild your credit.
First Premier Bank
This is another well known unsecured bad credit card. You should only consider this credit card if you cannot obtain an unsecured credit card from Orchard Bank. Facts about First Premier Bank:
1. The initial credit limit is $300.
http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2. They charge a one time processing fee of $95. The downfall here is that it must be paid in full before the credit card can be activated. They will accept payments over a 6 month period but you will still have to wait to use the credit card until it’s paid.
3. The annual fee is $75. This is deducted from your current credit limit leaving you with a balance of $http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/2http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/25 available credit. This can be paid in increments of $6.http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/25 a month however; you will be paying interest on the outstanding balance.
4. The APR is a fixed http://encyclopedia.jrank.org/articles/pages/cmgd1ysys6/23.9% on purchases and cash advances.
Unfortunately, bad credit makes for expensive credit. The number of unsecured bad credit card options is limited and costly. Most people are faced with this problem at least once in their lives. Hopefully, we can all learn from our mistakes, improve our bad credit and put the money in our pockets!
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