Best sellers from


Web Security, Privacy and Commerce, 2nd Edition
by Simson Garfinkel
Amazon Price: $40.08
Customer Review: I think this is another one of those big books that tries to cover too many topics. It's really just...

Fool's Gold: Color Me Consumed (TrueColors Series #6)
by Melody Carlson
Amazon Price: $10.39
Customer Review: Fool's Gold Color Me Consumed is an excellent novel by Melody Carlson and the sixth book in her True...

Managing a Consumer Lending Business
by David Lawrence, Arlene Solomon
Amazon Price: $50.00
Customer Review: Recommended to everyone starting career in consumer lending business or simply interested in...obtai...

Charging Ahead: The Growth and Regulation of Payment Card Markets around the ...
by Ronald J. Mann
Amazon Price: $26.99

RISK MANAGEMENT in Consumer Financial Institutions: Modern Tools & Guidelines...
by Jesus Cornejo
Amazon Price: $26.60
Customer Review: This book is not very useful if you are a credit risk manager and would like to learn how to do thin...

::: Credit Cards Information :::

Credit Cards Info
Get Info on Credit Cards from 14 search engines in 1.

Debt Reduction Made Easy
Free Online Money Management Tools. Set Your Goals and End Your Debt.


::: Credit Cards Articles :::

Bad Credit Doesn't Rule Out Unsecured Credit Cards

by Bill Smith

Many people believe that because of their bad credit, unsecured credit cards are not available to them. While it may be more difficult, there are options for people with bad credit who want an unsecured credit card to build their credit or have available for use in an emergency. While a secured credit card is the most commonly recommended option for people with bad credit, unsecured credit cards ARE available - even for those with the worst credit.

Bad Credit: Unsecured Credit Cards vs. Secured Credit Cards

One of the easiest ways to get a credit card when you have bad credit is to opt for a secured credit card. With a secured credit card, you deposit money in a bank designated by the credit card company to serve as a 'security deposit' - an assurance that they'll get their money if you default on payments. Depending on the lender, that deposit might be equal to your desired credit limit, or slightly higher or lower. A security deposit of $300, for instance, might get you a $150 line of credit with one company, a $300 line of credit with another, and a $400 one with yet a third. The interest rate is generally competitive, since the company has a guarantee of getting its money if you don't make payments.

An unsecured credit card requires no security deposit. A bad credit unsecured credit card will often have either a high APR (annual percentage rate), high fees, or both. How do the two stack up against each other? Here's a comparison from two actual credit card offers that are sitting on my desk as I write:

Secured Credit Card
Security Deposit: $250
Annual Fee: $35
Setup Fee: $35
APR: 15.40%

Credit Limit Increases: $100 increments, each require $100 deposit

Bottom Line: It will cost you $370 to maintain a $250 credit limit for the first year, with at least $250 up front, at an APR of 15.40%. You'll have $170 available credit upon receipt of your card. You'll have to put up an additional $100 every time you want to increase your credit limit.

Bad Credit Unsecured Credit Card
Annual Fee: $48
Setup Fee: $29
Participation Fee: $72 (annual, billed at $6 monthly)
Program Fee: $95 (one time fee)
APR: 9.9%

Credit Limit Increases: $25 (per increase of $100, at their discretion)

Bottom line: It will cost you $244 for the first year, all of it billed to your credit card on your first statement, to maintain a $250 credit limit with an APR of 9.9%. You'll have $72 credit available upon receipt of your card.

In the long run, while a bad credit unsecured credit card may cost you more, you won't be tying up your money up front. Either card will help repair your credit as you make payments on time and regularly, but the unsecured card has an APR that's almost 5% lower. You're the only one who can decide which is the better option for you - but it makes sense to weigh all your options before you decide that your only way to have a credit card is with a security deposit.

@ Copyright 2005 - Bill A Smith

About the Author

Bill A Smith is a credit counselor for http://www.americreditservices.com/ Feel free to visit our bad credit help center at http://www.americreditservices.com/bad-credit/



::: Credit Cards News :::
Credit Karma Launches New Credit Card Recommendation Service Based ... - Mark...
6 Oct 2008 at 7:13am

Credit Karma Launches New Credit Card Recommendation Service Based ...
MarketWatch - 2 hours ago
The new service provides customized recommendations by credit score range using a computation of cur...


The great credit card swindle - Sydney Morning Herald
6 Oct 2008 at 9:00am

Sydney Morning Herald

The great credit card swindle
Sydney Morning Herald, Australia - 1 hour ago
AUSTRALIANS lost more than half a billion dollars in credit card fraud last year, and security ...


The Credit Card Congress - Wall Street Journal
5 Oct 2008 at 11:01pm

The Credit Card Congress
Wall Street Journal - 11 hours ago
The legislation, sponsored by New York Democrat Carolyn Maloney, is intended to address supposedly unfair and deceptive credit card pract...


MegaPath StoreConnect Enables Convenience Store Owners to Save ... - Business...
6 Oct 2008 at 8:02am

MegaPath StoreConnect Enables Convenience Store Owners to Save ...
Business Wire (press release), CA - 2 hours ago
?In the past, convenience stores have had to choose between costly satellite...


Banks going slow on credit card hardsell - Economic Times
5 Oct 2008 at 4:07pm

Daily Mail

Banks going slow on credit card hardsell
Economic Times, India - 17 hours ago
He added that the credit card division of StanChart will not be impacted as it caters primarily to the h...


USA Technologies Launches New ePort Devices - MarketWatch
6 Oct 2008 at 6:34am

USA Technologies Launches New ePort Devices
MarketWatch - 3 hours ago
USA Technologies' new ePort G8 accepts both traditional magnetic stripe credit cards and credit cards with tap-and-go techn...


Ice-cream goes on the credit card as valley feels the chill ... - guardian.co.uk
5 Oct 2008 at 6:02pm

Ice-cream goes on the credit card as valley feels the chill ...
guardian.co.uk, UK - 16 hours ago
At Pop's Ice Cream and Soda Bar, Anna Robertson has seen more and more people paying with ...


Thrifty Scot: How to choose a credit card - Money News
6 Oct 2008 at 5:45am

Thrifty Scot: How to choose a credit card
Money News, UK - 4 hours ago
Advice on choosing the best credit card has been offered by money website The Thrifty Scot. People who own businesses, wh...



::: Credit Cards Blogs :::
Advantages of a College Credit Card
6 Oct 2008 at 2:58am
If you are one amongst them, then consider having student credit cards to address all your financial needs. Some advantages These credit cards are spe...

The Particulars When It Comes To Credit Cards Debt
6 Oct 2008 at 3:27am
Unsecured consumer debt, also known as credit cards debt, is the primary reason people have bad credit and need loans for debt. Our national love affa...

Credit Card Balances Written Off
6 Oct 2008 at 4:37am
You may have heard that, debts incurred on UK credit cards before April, 2007 may actually be written off under certain circumstances. The credit card...

Secured vs. Unsecured Business Credit Cards: Which is Better?
5 Oct 2008 at 3:42pm
But because your credit score may not be very constructive to your reputation, you may have very limited options ?either you get an unsecured bad debt...

Consider Business Credit Card In Your Business Operation
6 Oct 2008 at 2:35am
If you?re on your way to start a business or have already established a business, perhaps applying for a business credit card would be your next move....

International Credit Cards with No Foreign Transaction Fees ? by ...
6 Oct 2008 at 4:51am
When traveling abroad, using a credit card can get costly. With the exception of one credit card Company, credit card companies charge a 3% internatio...

Saving Money Through Credit Card Balance Transfer
6 Oct 2008 at 5:13am
credit balance transfer Are you laden with heavy credit card debt? Are you paying heavy interest on your credit card debt? Is the situation getting to...

A Guide to Credit Cards ? by MIKE SMITH
6 Oct 2008 at 3:15am
It?s important to decide whether your credit card it?s actually suited to the purpose for which you intend to use it. If you do not understand you?re...

::: Credit Cards Featured Resources :::

RevenuePilot.com - Premiere Online Advertising Network
Attention Webmasters: Monetize your traffic. Get paid up to $2 for each unique click-through. No monthly limits, no conversion rates and no service charges. Receive your money by check or paypal anywhere in the world at no extra charge.


Receive a loan or credit card even with bankruptcy!

Access Loan. Bad Credit Loans to Change People's Lives.



Google