Easy To Get Credit Cards
Need a major Visa or MasterCard but need to make sure it offers easy approval because of your bad credit score? There are many credit cards that offer easy approval and no credit check. In fact you can choose from a few types of cards and decide which is best for you.
- Unsecured – these are regular credit cards. They are going to charge you a very high interest rate and an annual fee of about $80. Additionally you will be required to make a security deposit of $95 and pay monthly fee of roughly $8. It will come with an initial credit limit of $300.
While these cards carry a lot fees it will report monthly to all three major bureaus. This will provide you with a way to build some positive payment history with the bureaus. An unsecured card will be weighted more then any other type of bad credit card.
To get the most out of this card you should make sure you pay your bill on time. If you do this you will create some positive items on your credit file and at the same time you should put some efforts into removing the negative marks on your credit report. These two steps are the most effective methods at repairing a low score.
- Secured – These cards are just like a regular card except that you first must make a deposit. This secures your account and is insurance for the bank in case you stop making your payments. Your deposit is refundable and will be in an FDIC insured interest bearing account.
This is a real credit card and you will be charged about 10% APR because you have secured the account. Their is also probably an annual fee of about $50. However there is no credit check and this will also report monthly to all three credit bureaus.
When you make your deposit you can choose an amount in the range of $200 – $5,000. The amount you choose to deposit will be what the limit is on your credit card. For instance if you deposit $2,000 your credit limit will be $2,000. These cards are accepted everywhere you see Visa or MasterCard logo displayed and you will be the only one that knows it is secured.
- Pre paid – these are issued as a Visa or MasterCard but require you to first load money on your card. It is created for individuals without a checking account. Their is no credit check or chexsystems verification. You will have access to free direct deposit and fee online bill pay.
These two features will save you time and money. You won’t ever have to pay a check cashing fee again or purchase a money order. And your card is accepted online and over the phone. You can use it to: rent a car, purchase airfare, reserve a hotel room …
As you can see there are quite a few choices you have. Is you priority trying to fix your credit? Or are you more concerned with an economical choice? We reccomend a pre paid card as an economical choice and a secured card to build some positive credit.
It is also important to fix your credit report. You can remove negative items from your credit history. You must file a dispute with the bureaus. Stop just living with the high cost and inconvenience of a bad credit score.