The Horizon Gold Credit Card is an unsecured card with an initial limit of $500. Their is no credit check or chexsystems check – you are guaranteed approval. They offer a 0% APR and do report to a major credit bureau.

The Horizon Card is not actually a credit card. This card while it offers you $500 of unsecured credit, your card is only going to be accepted at the Horizon Card Services website. In other words they only place that will accept the Horizon Card is at an online website.

You can not use this card to buy gas at the gas station, to pick up groceries, to make purchases at retail stores, or any other locations online. It is not a Visa, MasterCard, or a debit card. It will however enable you to make purchases from the Horizon Card Services Outlet store.

Unfortunately the quality of these goods are very questionable. Additionally you are going to be charged shipping fees from the Horizon store and the actual shipping company.

Will It Help My Credit?

If you use your card responsibly it can build a positive mark on one of your credit reports. However because this card does not report to all three credit bureaus and instead will only report to one of them, no matter how responsibly you use your card your credit report and score with the other two bureaus will not and can not improve by using this card!

Simply because they will not receive the information. Additionally because this is not a credit card the credit bureaus will view it differently and it won’t help you build positive credit as effectively as an unsecured major credit card would. This cards are commonly called merchandise or shopping cards.

They are marketed to individuals with bad credit. Often Horizon Gold Card will purchase your information from a mailing list and then send you a card, with all these great offers such as: credit bureau reporting, no credit check, $500 unsecured credit line – but you have to look in the fine print to see this isn’t actually a real credit card! And that it won’t report to all three bureaus!

Fees

While this card doesn’t actually charge you an interest rate, they do earn their profits. To start when you make purchases you are buying things from this company. Clearly it is a conflict of interest with the company lending you money to purchase items is also the same company that is selling you the items.

You will also be automatically enrolled in a monthly membership program with a monthly fee of just under $30. You can cancel this membership however if you do you will be charged a $6 monthly maintenance fee which comes out to $72 over a year – just to have a card that won’t help your credit, will sell you overpriced goods, charge you on shipping those goods, and serves no viable benefit to you!

It is true these are new and never before seen days for lending. Creditors are demanding about a 700 credit score just for approval. If you score has some mistakes then we encourage you to either get a secured credit card that will report to all three major credit bureaus or invest in some credit repair services.

NCO Financial Systems also commonly referred to as the NCO Group is one of the largest debt collection companies in the industry. They have recently purchases Axion collection agency and Mann Bracken.

NCO Financial will collect on all sorts of debt. They will work with lenders directly on collection efforts. Additionally they buy what is known in the industry as junk debt. This is debt accounts from other collection agencies that were unable to collect payment.

Who Is NCO Financial?

NCO is debt collector with headquarters in Horsham Pennsylvania. They will contact you by phone calls and through written communication. They collect debt in the US but also worldwide including in Canada and the UK.

Contact NCO Group

NCO Financial Systems, Inc
507 Prudential Road
Horsham, PA 19044
800.550.9619

http://www.ncogroup.com

What If I Don’t Pay Them?

If instead of paying NCO Financial then they will have two options to proceed with your debt. The first step they will take is to report negative information to the major credit bureaus which will damage your credit score.

Next they can either sell your account to another collection agency who will proceed with contacting you and creating additional bad credit on your credit history. The other option NCO Financial has is to file a civil lawsuit.

If they sue you and win their case then you will get a judgment on your credit report which is going to destroy your credit rating. Additionally if you get a judgment you could potentially have up to 25% of your paycheck withheld to repay this debt.

How Can I Fight NCO Financial?

There are a few steps you should take if you have NCO Financial on your credit or if they are contacting you regarding collection of a debt. The first step we encourage you to take is to file a dispute with the credit bureaus to remove the bad credit from your credit reports.

You can do this by written letter to all three of the credit bureaus, you can also hire a professional to assist you with this. In your letter you need to identify the item you want the bureaus to investigate in this case it would be the negative information from NCO Financial.

Next you need to include your personal information and the reason you are filling your dispute. These reasons are plentiful and some common reasons are; debt is older than seven years old, not my account, account is paid, wrong balance, wrong dates….

Then the credit bureaus are each going to conduct an investigation. They will contact NCO Financial and ask them to verify the account, that it is your account, the dates reported on the account, and the balance due. If NCO does not verify this information then by law the credit bureaus must remove this item from your credit report.

You need to be aware that all three credit bureaus are going to conduct a separate investigation. In other words there will be three separate investigations. You will get written notification from the bureau as to the results of their investigation, if the item was removed or verified.

My Debt Is Accurate – What Should I Do?

Even if the credit bureaus are able to verify your debt before you pay NCO Financial you must request debt validation. This is going to legally obligate NCO to furnish legal evidence that they own your account and the collection rights.

It is a common rumor that many debt collectors will sell the collection rights to an account but continue to try and collect payment from the consumer, despite this being illegal and outright fraud! It is estimated that up to 40% of all debt validation requests are not met by the debt collectors.

If this happens then you debt is erased and you don’t have to pay. It also will be very easy to remove this inaccurate information off your credit reports.

However if you debt is validated by NCO then you will need to negotiate a settlement agreement in order to get them off your credit report. During your negotiation talks make sure you are only paying a fraction of the total balance due. Typically NCO purchased this account for just a tiny fraction of the total balance and will be happy to settle the debt for less.

Additionally you must get them to agree that in exchange for your payment they will stop reporting information about your account to the credit bureaus. This way after you make your payment you can dispute the item again with all three credit bureaus.

This time when the bureaus contact NCO to verify the debt NCO will not verify it because of your settlement agreement and the bureaus will have to erase the bad credit from your credit report. By removing bad credit from your credit report you are improving your payment history.

Your payment history accounts for roughly 40% of your overall credit score. You don’t just have to live with bad credit you can take action and remove negative information.

Yes, it is true you can dispute your credit report and remove negative information. The Fair Credit Reporting Act a Federal Law passed by Congress gives every US citizen the right to dispute any item they believe to be incorrect. You cannot get into any legal trouble for disputing an item on your credit report!

The Fair Credit Reporting Act requires the credit bureaus to investigate your dispute. However the 3 major credit bureaus (Equifax, Experian, and TransUnion) are private businesses and motivated by profits. They have no government association or funding. And are thus reluctant to spend the resources to investigate your dispute.

How To Dispute Your Credit Report

 1. File A Dispute With The Credit Bureaus

You must send the dispute to each one of the credit bureaus. In your dispute you need to create a letter in which you include your personal information, the item you want to dispute, the reason you are filing the dispute, and any other related material.

2. The Credit Bureaus Will Respond

You will get a letter from the credit bureaus where they will either deem your dispute valid and conduct an investigation. Or more commonly they will request more information about the dispute. When the credit bureaus do this they don’t always necessarily need the information and instead arch stalling and trying to frustrate you. They want you to give up so they do not have to investigate your challenge.

3. The Credit Bureaus Will Investigate

Eventually through your persistence or the help of a professional credit repair service you can get your dispute investigated. During the investigation the bureaus will contact the lender or collection agency that has created the negative item on your credit report and asked them to verify that the account is yours, the dates on the account, and the balance that is owed.

It is a well kept secret that very rarely do lenders or collection agencies verify accounts. It is estimated that nearly 80% of all bureau investigations do not have lenders that verify an old debt. In these cases the item must be removed from your credit report in accordance with the Fair Credit Reporting Act.

4. Credit Bureaus Investigation Results

The credit bureaus will send you a letter notifying you of the results of their investigation. They will tell you if the item has been removed from your report or if the lender verified it. Additionally they may have updated information such as the dates on the account or the total balance owed.

If your account is removed, say thank you and make sure that all 3 credit bureaus remove the item. Each bureau must conduct an investigation into the negative mark on their credit report for you. In other words if Equifax remove the item it was only removed from your Equifax report and you still must get TransUnion and Experian to remove the item from their report.

5. My Item Was Verified – What Can I Do?

If you have the debt that gets verified there are a number of alternatives such as a settlement agreement where in exchange for your payment the debt collector will stop reporting information about your account to the bureaus. Additionally you may require court intervention, goodwill intervention, and you should always use debt validation before paying anyone.

Debt Validation

When you negotiate with your collection agency the first thing you should do is request debt validation. This is going to require the collection agency to show you legal evidence that they own your debt and can collect upon it. Frequently we hear that collection agencies either don’t have this documentation or do not still legally own the account. If this happens you don’t have to pay and will easily be able to erase it from your credit reports.

Cavalry Portfolio Services LLC is a debt collection agency based out of Tempe, Arizona. They are what is commonly referred to in the industry as junk debt collectors.

What this means is that they frequently will buy a non-collectible debt from other collection agencies. For example let’s say you fell behind on your car payments and the car was reposessed. You then started getting contacted by a debt collection agency who you didn’t pay.

After a period of time this initial collection agency will stop contacting you, report negative information on your credit report, and sell your debt to another collection agency such as Cavalry Portfolio Services.

How To Fight Cavalry Portfolio Services

There are a few easy steps to follow before you pay this debt or even consider negotiations because you may not need to or be legally required too.

1. Dispute this item with the credit bureaus – this requires each of the three major credit bureaus to investigate your dispute. They will contact Cavalry Portfolio Services and ask them to verify the account is yours, the amount due, and the dates.

You should pay extra attention to the dates on your debt with Cavalry Portfolio Services. According to the Fair Credit Reporting Act a federal law an item can only remain on your credit report for seven years. This seven year time limit starts on the first month of missed payments.

It is a frequent tactic for debt collectors to try and report negative information to the credit bureaus for longer than seven years. Often once a collection agencies buys a debt they view that account as brand new and will try to report negative information to the bureaus for seven years from the date they old debt account was purchases. In other words you could potentially have a negative item remain on your credit report for 10 years! This is illegal and you need to take action to protect yourself from being a victim of this.

If the bureaus do not get this account verified then it must be erased from your credit report. However if it is verified you do still have options to fight this item.

2. Request Validation Of The Debt – this should be done in writing and through certified mail. It will require Cavalry Portfolio Services to show you that they legally have collection rights to your account. It is common for debt collectors to be unable to provide this evidence and if that is your situation then you don’t have to pay the debt!

If the account is validated then you should negotiate payment. You must get Cavalry Portfolio Services to agree that in exchange for your payment they will stop reporting your account to the credit bureaus – this way you can dispute the item and the bureaus will not have it verified by Cavalry and it will be deleted from your report.

You should also only pay a small percentage of the total balance due. This debt collector purchased your debt for pennies on the dollar and will be more than happy to settle the account for much less. Don’t ever pay the full balance due.

Take Action Before…

It is wise to address this issue because if you don’t pay Cavalry Portfolio Services can sell your account to another collection agency who will add one more negative item on your credit report. Additionally they also have the authority and have used it to file a civil lawsuit.

This could end up with a judgment being awarded to Cavalry. This means you will have a judgment on your credit report that will certainly ruin your score, and you could even have your wages garnished to repay this debt. Typically your account will go through legal proceedings and many collection agencies if it is large, however some debt collectors regularly employ legal procedures against consumers regardless of the size of the debt.

LVNV Funding is a common debt collection agency. If you’re getting contacted by them or find them on your credit report this is something that you should deal with it immediately.

Should you not address this issue it can potentially become a judgment on your credit report, your wages could be garnished, you could have a lien placed against your home or property, you could have additional collection agencies contacting you about this debt, in other words take action on this issue today.

Who Is LVNV Funding

LVNV Funding is a 3rd party collection agency, however they also work with Resurgent Capital Services. From what we can gather from their website (http://www.lvnvfunding.com) it appears that LVNV may purchase your debt account and then outsource the collection efforts i.e. phone calls and letters to Resurgent Capital Services collection agency.

LVNV Funding will purchase debts from creditors directly. We have heard of the Sears credit card account they collect on. They also are known as ‘junk debt’ buyers. This means they will buy old non-collectible debts from other collection agencies and attempt to collect upon them.

Contact Info

LVNV Funding LLC
P.O.Box 3038
Evansville, IN 47730
How Can You Fight LVNV Funding 

There are a few methods to fight. The first step is if they are contacting you about a debt, you should request debt validation. This is going to require them to show you legal evidence that they own your debt and can collect upon it. It also will require them to show that the debt is not over 7 years old because if it is, you do not have to pay nor should it be on your credit report.

How To Remove LVNV Funding From Your Credit Report

If you find LVNV Funding on your credit report you should file a dispute with each one of the credit bureaus. You can do this yourself or you can hire a professional service to do in behalf. Once the bureaus get your dispute and deem it valid they will investigate the item and contact LVNV to verify the account, the balance, and the dates.

It is estimated by experts that 4 out of every 5 credit bureau investigations result in the removal of an item because the lender or collection agency did not verify it. Additionally these same experts estimate that over 50% of debts are not validated when debt validation is requested and of those accounts that do not get validated the debt is wiped clean.

Do It Yourself

If you choose to do this yourself you can. Let’s walk through the process step-by-step:

1. If LVNV is contacting you then request debt validation – this should be done through certified mail so you have legal evidence that is admissible in a court of law that you requested this. By law LVNV is required to provide you with this documentation and if they are unable to, you don’t have to pay the debt, and it will be removed from your credit report.

2. If they are on your credit report then file a dispute letter – this letter must be written to all 3 of the credit bureaus. In other words you’re going to write one letter to TransUnion, another letter to Equifax, and one more letter to Experian. In your dispute you need to identify the item you want them to investigate, the reason for the dispute, and provide any other relevant information.

3. Personal organization – if you can stay organized and remain persistent you can be successful. Unfortunately the credit bureaus often used stall tactics and you must keep up with each individual bureau and where your dispute is in the process. Additionally debt collectors are not the easiest companies to work with and for these reasons many individuals turn to a professional for help.

Should you go with a professional you can do so at an affordable rate with roughly one hundred dollars down and about $60 a month. Typically you will require the service for 8 months and then most individuals have a clean credit report. However use caution before handing your money over to anyone and make sure you choose the best service if you decide to go that route.

Credit repair services are typically law firms that will work to remove negative information from your credit report. While you should ensure that your credit repair company has a lawyer on staff typically you will not need legal representation.

The Costs

You first pay about a $100 down payment, retainer fee, security deposit… You then will be charged a monthly rate ranging from about $50 up to $100. Never allow yourself to let an attorney bill you at an hourly rate for these services!

We have heard horror stories from individuals that have had a very hefty credit repair bill, in reality you only need to spend a few hundred dollars. On average consumers spend about 9 months using a service.

How It Works

You are going to need to forward a copy of all 3 of your credit reports to the service you hire and they are going to file disputes with each credit bureau. You must tell them what items you want them to dispute and potentially remove on each report.

You will get communication from each credit bureau regarding these disputes. These communications will notify you if the dispute was valid, if the bureau is requesting more information, the results of a bureau investigation, if an item was deleted, if an item was updated…

You need to forward all this information along to the credit repair service. On a side note you will probably enjoy opening letters when the credit bureaus inform you that they have erased a negative items from your credit report and will typically see your FICO score improve.

How Can Bad Credit Be Removed?

There is a federal law called the Fair Credit Reporting Act. This law entitles every consumer to dispute and challenge the credit bureaus to remove inaccurate information. This law is also the same law that says a negative item can only remain on your credit history for a maximum of 7 years.

Congress passed law way back in 1970! And it’s a good thing they did because experts estimate that 1 out of every 4 credit reports contains an error.

Without the Fair Credit Reporting Act you would have no method to get this error removed from your credit report. This item could potentially be costing you higher interest rates, rejection for financing, and increasingly we have seen potential employers check a job applicants credit record before offering them a position.

Very few people know how the debt system in our country works, which is not to your credit reports advantage. Unfortunately debts often remain on your credit report for much longer than 7 years which is the legal limit. The reason for this is debt collectors use your credit report as a method of negotiation to influence you to pay your debt even if it is beyond the 7 year legal limit.

Lastly there are documented cases of people being sued and found guilty for owing debts that they did not create. We are confident this phenomenon will continue to happen in our society, and never forget the victims of identity thieves.

New Lending Era

Your credit score has never been a more important number. As a mentioned earlier more and more employers are checking job applicants credit histories before offering a position. And lenders have drastically changed their approval requirements demanding a credit score of about 700 for financing.

Your credit score is such an important number and is literally costing or saving you thousands of dollars each and every year. If you take two individuals with the same income; one with good credit and with bad credit put them side by side and their lifestyle differences would shock you. You don’t have to just live with bad credit start taking steps to clear your credit history and get an excellent credit score today.

If you have a charge off on your credit report you need to take immediate action. If you don’t this the debt will continue to grow and turn into multiple items of bad credit on your report and completely ruin your score. Contrary to popular belief this bad credit will last much longer than 7 years.

How Did I Get A Charge Off

This happens typically on a credit card and after you don’t make payments for 6 months. The credit card issuer will ‘charge off’ your account which acts as a tax-deduction and they will pass along your debt to a collection agency. You will then get contacted by a collection agency regarding payment on this debt.

What Happens If I Don’t Pay

If you don’t pay the initial collection agency they have two options.

1. Sell your debt to another collection agency – they will report negative information to the credit bureaus about your account and then sell your debt to another collection agency. You now will have another debt collector contacting you for this debt additionally this debt collector is able to also report negatively to the credit bureaus about your account.

2. File a lawsuit – the collection agency has the legal authority to file a civil lawsuit against you. If they win you could potentially have your wages garnished and even liens placed against your property to pay back this debt. You also will have a judgment reported on your credit history which is one of the worst marks to have on your credit report.

What Should I Do?

The very first thing you should do is get a copy of your credit reports, this way you can find out what negative items are on your credit report and with which bureaus. Then you need to dispute each negative item with the proper bureaus.

When the credit bureaus get your dispute they are required to investigate the items by contacting the collection agency or lender and asking them to verify the account and relevant information. If the account cannot be verified the credit bureaus must erase the account from your credit history.

If Your Account Is Verified

If your debt is verified with a collection agency then you should negotiate a settlement. In exchange for your settlement payment you must demand that the debt collector stops reporting negative information about your account to the bureaus.

This way after you make your settlement payment it will be an easy process to remove this bad credit from your credit report. If you neglect to secure this arrangement than just paying the debt will do nothing to benefit your credit report. It would also be wise to consider how old the debt is, by law it can only remain on your credit history for 7 years.

This Bad Credit Can Last Much Longer Than 7 Years

While federal law mandates that a negative item can only remain on your credit report for 7 years and this 7 years begins the moment of the first missed payment, there are many collection agencies that disregard this law and will try and report negative information about your account for as long as possible. They do this because it gives them leverage and a method to influence you to pay.

The debt collection industry faces regular federal fines by the FTC for breaking federal law and regulations. However many of these debt companies believe that these fines are nothing more than the cost of doing business.

You don’t have to live with bad credit for 7 long years-take action today and remove a charge off and any other negative collections from your credit reports immediately. And before it becomes a number of bad credit items or a judgement against you!

The Orchard Bank Card is issued as a Visa or MasterCard. It was created for individuals with a less-than-perfect credit history and provides you with a very easy approval. Your credit will be checked however you are guaranteed to be approved for a major Visa or MasterCard that will report monthly to all 3 major credit bureaus.

Orchard Bank is a leader in bad credit lending, they have issued millions of credit cards. If you pay your monthly bill on time you can start to create a record of positive payment history with the bureaus, the experts say this piece of information ways up to 40% of your credit score!

How It works

You first will have to apply online; you fill in your name, address, social security number… And then you press submit. It will take roughly 60 seconds and you’ll be provided with a decision. Unlike any other credit card for bad credit you may be offered up to 4 credit cards – 3 of those offers being unsecured and one secured. Then you choose which card you feel best suits your needs.

As mentioned Orchard Bank is a leader in the subprime credit industry and this is one of the only issuers we have seen with the resources to provide these options to applicants. Everyone has a different scenario and thus it only makes sense that different people would need different credit cards.

Unsecured

If you get approved for an unsecured credit card this is just like a traditional credit card. Typically you’ll have a credit limit around $300 or $500  and you will be charged a higher interest rate often around 20%  APR.

The benefit is this card will be weighed more because it is unsecured and you are being lent money on simply your promise to make payments. However this is a more costly option and instead you may want to invest that money in a service that can work to repair your credit report.

Secured

You’re guaranteed approval for a secured card and this will work just like an unsecured offer. You will still have monthly payments and will be charged an interest rate, however it will be much lower often around 10% APR because your account is secured.

This means you must first make a deposit with Orchard Bank and then you’ll be issued a credit card. This is a real Visa or MasterCard and will be accepted everywhere you see the corresponding logo displayed, you can also use it online, over the phone, to rent a car…

You will decide the exact amount of your deposit and it will need to range between $200 minimum to a $5000 maximum. This deposit is FDIC insured and is fully refundable as long as you don’t stop making payments on your credit card.

You’re going to be given 24-7 online account access and customer service. Your card will also be covered under a $0 liability policy which will ensure if your card is ever lost or stolen you’re not liable.

If you are looking for a credit card for bad credit we encourage you to apply for the Orchard Bank Card. A secured card you will be guaranteed approval for and this can be a tool to build some positive credit.

You could even be approved for an unsecured card which  will be weighted more by the bureaus. While this card can build positive credit it is important to know that if you do not use it responsibly they can just as easily build negative credit.

The mango card is a reloadable debit card. It is issued by Horizon Bank and is FDIC insured. It comes as a MasterCard and will act just like a checking account.

With your card you will be given free direct deposit. This is the most common and popular form to load money onto your card. You will have quicker access to your funds and can avoid paying costly check-cashing fees.

Additionally you can load money by transferring money from your checking account, card to card transfer, or by visiting any number of retail locations located nationwide. If you choose to sign up for direct deposit all you have to do is log into your online account, next you’re going to print up a direct deposit form.

You will have to fill out this form insert the required information and then turn it into your employer. Within 1 to 2 paychecks you will then have your paycheck deposited directly onto your card.  You can use this for payroll checks, benefit checks, unemployment checks, and even your tax return.

Your card will be issued as a MasterCard that can be used over the phone and online. It will also be accepted to: rent a car, purchase gas at the pump, book airfare, reserve a hotel room… Your card will be covered by zero iability policy in case your card is ever lost or stolen. This will ensure that your money is safe.

There are some additional benefits for the Mango prepaid card, it will provide you free access to the YAP service. This service will enable you to send money to anyone regardless of them having a card or not for free. It also will enable you to receive money from anyone without any fees, this will give you an added peace of mind knowing that you can get money or send money in case of emergencies.

You also are given online bill pay, this is a convenient method to pay your bills. To access this you just login online, go to the bill pay section, fill in the info, and press pay. You can schedule future payments, one-time payments, and recurring or monthly payments.  This will save you time and money by avoiding going to the store and purchasing a money order.

Uf you use online bill pay and free direct deposit your card will act just like a checking account. You will have the ability deposit money free of charge and you will have the ability to send a payment or write a check to pay your bills. And will never pay an overdraft or bounced check fee!

You’ll have online account access and customer service access 24 hours a day 7 days a week. This will enable you to stay on top of your financial well-being without any hassle.  You can also get free e-mail and SMS text alerts about your account activity.

The prepaid mango card is currently giving you a $20 bonus just to use free direct deposit.  You are guaranteed approval there is no credit check or bank account required.  Many consumers have found prepaid cards highly beneficial as they only allow you to spend the money you’ve have already put on your card, plus you can never run the risk of running up debt.  These offers have increasingly become popular as many bad credit credit cards have disappeared from the market. And with new credit legislation the sub-prime credit market has changed forever. Visit – www.mangocard.com to apply

The Merrick Bank issues a Visa Card. Often this card is sent to you through a direct mailing. In other words you were mailed a credit card from Merrick  Bank because your name was on a list they bought. And ‘all you have to do is activate your card’ to use it!

They offer both secured and unsecured cards. This can be very tempting to just go online and respond to a mailing about an unsecured credit card with a potential credit limit of $500. However stop and use some caution especially before you agree to any credit cards terms.

How It Works?

As we mentioned Merrick Bank is going to buy a list of ‘interested or qualified’ names. Next they are going to mail you a credit card. On the mailing it will say something like call a 800# or go online and enter you acceptance number.

This acceptance number means nothing! It is just a way for them to track which mailing lists are profitable and which are not. This card is designed for individuals with bad credit and the fees and costs for this offer are staggering!

There are high annual fees, and a high interest rate. In addition to this we see very negative customer service experiences from prior card holders. Further with the new lending legislation that Congress passed in response to the ‘predatory bad credit lending practices’ have put all unsecured bad credit cards out of business.

These new laws have tied the hands of unsecured credit cards for bad credit. Literally dozens of cards were withdrawn from the market overnight. These unsecured cards will help you build credit the quickest because you are spending money and paying money back that you just promised to payback.

Instead of with a secured credit card where you have opened a savings account with the credit card issuer and are extended a credit card with a limit equal to the amount of your deposit in the savings accounts. For example: if you deposit $500 your credit card will have a limit of $500.

This will report to the bureaus but will not be weighted as much as an unsecured card. However with bad credit cards there is the secured route or prepaid cards or have emerged in response to the new lending laws. These cards require you to first pay money upfront and then you can use your card for purchases.

They are real Visa or MasterCards’ and can be used online and over the phone. You can also rent a car or a hotel room with them. They will be covered under a zero liability policy – insuring your money in case you lose or misplace your card.

www.MerrickBank.com

In sum, we do not recommend the Merrick Bank Card – we feel there are much better options available. Additionally if you are wanting to raise a low FICO score you should look into removing the negative items from your credit reports.