It is a common misconception that if you have a damaged credit score you are out of luck when it comes to getting a Visa or MasterCard. The thing is you are not alone.
There are millions of people in tough spots with this crumbling economy and recession that just doesn't seem to want to go away. Luckily, there is a way for you to still be approved and no reason to go without any longer.
You can get a secured credit card without having to endure the embarrassment of a credit check or lengthy intrusive application process. All you have to have to sign up is an initial deposit which you can have your employer directly deposit.
And, all you have to provide is your name, address, social security number and your approval is guaranteed. You can use it for any of the things you would use a regular card for. It is accepted online and over the phone.
Unlike with a prepaid you can even borrow money and your payments will be reported to the bureaus. This means you can build positive marks on your report.
The more you use it and pay it off, the better your payment history will become. It allows you to borrow money in case of an emergency or if you just need a few bucks to get by on. It's a great system and not only helps you out of a bind but also helps you get back on track.
However because this account is secured by your deposit your limit will be equal to that. This way in case you default on your payments the bank will not lose money.
Most offers carry an application fee and reasonable interest rates. This is far better than getting an unsecured account because you will have to pay interest rates of 19% and higher.
And you would have to pay an annual fee of around $150, and a monthly maintenance fee of around $9.95.
Each card has its own sets of fees and interest rates and you should fully educate yourself about before applying.
There are millions of people in tough spots with this crumbling economy and recession that just doesn't seem to want to go away. Luckily, there is a way for you to still be approved and no reason to go without any longer.
You can get a secured credit card without having to endure the embarrassment of a credit check or lengthy intrusive application process. All you have to have to sign up is an initial deposit which you can have your employer directly deposit.
And, all you have to provide is your name, address, social security number and your approval is guaranteed. You can use it for any of the things you would use a regular card for. It is accepted online and over the phone.
Unlike with a prepaid you can even borrow money and your payments will be reported to the bureaus. This means you can build positive marks on your report.
The more you use it and pay it off, the better your payment history will become. It allows you to borrow money in case of an emergency or if you just need a few bucks to get by on. It's a great system and not only helps you out of a bind but also helps you get back on track.
However because this account is secured by your deposit your limit will be equal to that. This way in case you default on your payments the bank will not lose money.
Most offers carry an application fee and reasonable interest rates. This is far better than getting an unsecured account because you will have to pay interest rates of 19% and higher.
And you would have to pay an annual fee of around $150, and a monthly maintenance fee of around $9.95.
Each card has its own sets of fees and interest rates and you should fully educate yourself about before applying.
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