People who have had credit problems can tell you how hard
it can be to find unsecured bad credit credit cards. Sure,
there are advertisements everywhere promising them - but
half of them turn out to be scams or issue cards with
ridiculously-low credit limits and ridiculously-high fees.
Where are all of the good unsecured credit cards hiding?
Before you apply for any unsecured bad credit credit cards,
there are some things you need to know...
They Are Out There
The first thing you need to know is that there are indeed
some good unsecured bad credit credit cards out there. You
just need to know what to look for. If someone tells you
that you must pay hundreds of dollars for an unsecured card
just because your credit is tarnished, they're trying to
take you for a ride. Understand this -- you will likely
have to pay an annual fee and a higher interest rate, but
you do not have to pay an arm and a leg to get unsecured
credit.
How Much is Too Much?
As I said above, you are going to have to pay for an
unsecured credit card. Even people with great credit have
to pay for them. It's called finance charges. People with
poor credit tend to pay more for credit cards than people
with good credit. However, you should never pay more than
you have to. So what's "reasonable" as far as credit card
costs go?
Any credit card is going to charge you interest. That's
just the way it goes. With bad credit, you're looking at
anywhere from 10 percent interest to 30 percent interest
depending on the terms of the card. You're also probably
going to have to pay an annual fee. However, anything more
than $50 or $60 annually is too much. And if they want to
charge a processing fee and/or application fee on top of
the annual fee, run in the other direction. Which brings me
to my next point...
How Fees are Paid
While it's true that there are some good unsecured bad
credit credit cards out there, there are also bad ones and
then there are the ones that are completely fraudulent.
These "companies" will request that you pay your
application fee, processing fee and annual fee up front.
You send them the money, then they'll process your credit
card application. Nine times out of ten, no credit card
ever arrives.
A legitimate credit card company will put any annual fees
or processing fees on the card they issue you. They will
not require money up front. And if the company says they
need up-front money for an "application fee" let them know
that the industry has become competitive enough that you
can take your business elsewhere without having to pay any
application fee at all, even if you do have bad credit.
Bad things happen to good people. Don't let the credit card
companies make you feel as though you deserve abuse just
because you've had financial problems in the past. By
keeping the above things in mind you'll be able to find the
unsecured bad credit credit cards that are right for you.
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For more tips on bad credit credit cards, saving money and
avoiding getting taken, check out the bad credit credit
card section at CreditCardTipsEtc.com, a website that
specializes in providing credit card tips, advice and
resources.
http://www.creditcardtipsetc.com/bad_credit_credit_cards
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