The Best Credit Cards If You Have No Credit

By Morgan Hamilton

Today, carrying actual money can be very inconvenient, not only that it bulks up your pockets or wallet but there is also more risk by losing it or get it stolen. To solve this problem, a great invention is introduced that enables you to buy things without carrying cash around. We called it credit cards.



This 2 inch by 3-inch plastic can enable you to buy without actually paying cash.



A credit card is a type of transaction settlement. This works by lending the consumer money from the credit card issuer or a bank without having the money removed from the consumer’s account. This means that if you purchase an item using a credit card, the credit card company will lend you money that you will have to pay back.



Sometimes people get out of control when using credit cards, so there is something we call credit limit to limit the purchase.



If you have poor or no credit history and you would want to have a credit card, the best option would be applying for a secured credit card. Secured credit card works just like an ordinary card, but secured by a deposit account owned by the cardholder.



To apply for a secured credit card, the cardholder must first deposit 100% to 200% of the amount of credit desired. This means that if the cardholder deposits $1000.00, he or she will be given a credit that range between 500 – 1000 dollars. Secured credit card deposits are held in special savings account.



Secured credit card holders expect to make the regular payments agreed upon, just as you would do in regular credit cards. However, if the cardholder defaults a payment, the credit card issuer can recover the cost of the credit card holder’s purchases by taking money from the deposit.



Another way to obtain a credit card is to establish a credit history. To do this you must apply for a small loan or a line of credit from your bank.



Getting a loan can be difficult. You can increase your chances of getting your small loan approved by making a large down payment. If you do not have cash, borrow from your parents or family member.



One way to establish a credit history is through gas cards. This is practically easy to get and a very good way to show that you pay your bills responsibly, assuming that you pay every month or before the established payment date.



Research about what the credit card issuer requires applying for a credit card.



If you these do not work, apply for a secured credit card. This will require you to deposit money in a special savings account to ensure credit card issuers that they will get their money back. However, applying for a secured credit card often has higher interest rates.



When you are using secured credit card it is best that you pay on time and avoid having the credit card issuer to take money from your deposit. This is because credit card issuers will often upgrade your secured credit card to regular credit card after a few months of making payments on time.



Avoid being rejected by credit card issuers. Apply for a credit card which requirements can easily meet the requirements.



About the Author: Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting http://www.getqualitycreditcards.com/categories/bad_credit_credit_cards



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Apply for Credit Cards Online

Benefits Of Applying Online For Credit Cards If You Have Bad Credit
By Duran Mueller

A life without credit cards is unimaginable. But, people with bad credit face a
lot of rejections when the apply for credit cards. This humiliating experience
can be quite taxing. It's not that credit card companies don't issue credit
cards to bad credit people, they do. But, finding the right credit card can be a
daunting task if you have to run from bank to bank and hear a big No from a
majority of them. So, how to reduce this burden and get a credit card for bad
credit easily? Apply online is the answer. The benefits listed below will
reinforce this statement.

1. No personal rejections

While applying online you don't have to face anybody. Just fill in a form and
wait for an email or call. No, humiliating rejections to face personally.
Everything is communicated in a way which is more easy to cope with.

2. Hassle free

You don't have to run to every desk in the bank to find out where are people
with bad credit dealt with. There is a special section on each of the websites,
exclusive for people with bad credit. Just login and go to your section. No
personal interaction needed with any nagging staff. Isn't it cool? there are a lot of conveniences with online applications that can be had. Everything that you will ever need for a bad credit credit card application is available online. Every form and declaration that you need can easily be downloaded and printed out. After filling them out, you can then just have them scanned or scan them yourselves and upload it to your computer and send it back.

3. Very less paper work

The application form for credit cards are entirely online and can be filled
on your computer itself. Moreover, if a credit card company requires something
to be faxed, it will most probably be available as a download. Simply download,
print and fax it. You can do it from the convenience of your home or office. No
time wasted.

4. Quick turnaround times

If you fill in all the details online correctly most banks will give you an
in principle approval instantly. Others who don't do it instantly will also
reply within few days. Some of the banks, if they find that you are not eligible
for a current offer but qualify for some other offer, will promptly send you the
details.

5. More information on fingertips

Need more help regarding credit cards for bad credit people. There are tons
of resources online. Just google your problem and you are sure to find a
satisfying solution. Want to compare two or more credit cards? It can be done in a jiffy.

In short the benefits of applying online for credit card with bad credit are
enormous. You can find quotes from different credit card companies without
facing the harassment, humiliation and paperwork of offline processes.

Duran Mueller an expert author and credit card consultant, provides great American express credit card tips. Read more credit card articles at his credit card website.

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