Is Your Credit Really Bad? How to Get a Bad Credit Credit Card

A new card designed to give people with bad credit history a new chance at again owning plastic has been created. These credits cards are called Bad Credit Credit Cards.

Basically, what the individual has to do is open an account with the credit card supplier and maintain some cash balance in the account. They then will be issued a card with between 50 to 100 per cent of their account balance as credit limit. This is also known as secured credit cards, obviously because the card companies are given securities in the way of the cash in the bank account that they are holding for the cardholders.

The Poor Credit Credit Card acts more like a debit card because the purchases are directly debited to the cash account of the cardholder and less of a card that provides credit because no actual credit was extended to the cardholder. With this system is it is hoped that the cardholder will again learn to control their spending habits.

The things to consider when deciding on which Bad Credit Credit Card to get are the following:

* The required minimum balance that you have to maintain in the bank account.
* The credit limit you are allowed on your card. Look for the higher percentage on your maintaining balance.
* The fees or charges incident to acquiring the card. The less charges, the less expensive for you.
* The rate of interest they apply to your bank balance. The higher interest will give you more return for your cash balance.

Source by Jimmy Starkey

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