Your credit rating plays a important role when trying to obtain a unsecured credit card. Credit scores range from the lowest at 300 to the best of 850. Having a credit score
over 700 will most likely get you approved for the best credit card rates and offers available.
If your credit score (FICO) is under 700 you may still be able to qualify for a credit card at a higher annual percentage rate (APR) and may come with annual fees and a lower starting credit limit. You can learn more about Credit Card Interest Rates And Fees. Also, before applying for a new credit card please be aware of the Federal Reserve's New Rules For Credit Card Companies that took effect to protect consumers on February 22 and August 22, 2010.
Find out how to deal with Lost Or stolen Credit Cards, Billing Errors And General Complaints.
Here we have listed some credit card issuers that accept applications for unsecured credit cards from people with a no to bad credit history.
The Horizon Gold Credit Card comes with Guaranteed Approval regardless of credit history. They don't perform a credit check or employment check. They also report to all major credit bureaus which will help you build a credit history. The Horizon Gold Credit Card is only accepted at a on-line website and only for merchandise listed in their catalog.
First Premier Bank Gold MasterCard accepts applicants with less than perfect and reports your monthly payments to the major credit bureaus. They have quality customer service and you can enjoy the benefit of 24-hour phone account access. Your initial credit limit will be $300.00 and will have a annual fee. Upon approval, you will need to send a security deposit of $95.00. Please check with First Premier Bank for current interest rates, fees and credit criteria requirements.
The Orchard Bank MasterCard is a good credit card for people who are looking to re-establish their credit and would like the convenience of a MasterCard. One great benefit of this credit card issuer is that they can pre-qualify you without affecting or accessing your credit report. They have periodic credit limit increase reviews and they report your payments to all 3 credit bureaus each month, which can help improve your credit score. Other benefits include fraud, dispute and unauthorized use protection plus free online account management and bill payments.
Applied Bank is another credit card available to people with poor credit. This card comes with a initial credit limit of $500 and there are no processing or application fees and no deposit is required. Some benefits of this unsecured credit card are zero fraud liability and they report to major credit bureaus.
Secured credit cards are a great way to rebuild your credit. Most secured credit card companies require a deposit equal to the credit line your are seeking. Make sure they report your payment monthly to the major credit bureaus. Making your payments on time monthly will increase your credit rating. You will also get your deposit returned to you after one year, turning your secured credit card into a unsecured credit card. We have provided a list of financial institutions that will provide you with a Secured Visa or MasterCard.
Prepaid Credit Cards are a excellent alternative for making on-line purchases, car rentals, and hotel reservations. It is also much safer than carrying cash with you.
Although, many charge a small monthly service fee.
We have provided a list of financial institutions that will provide you with a Prepaid Visa Or MasterCard. If you are looking to purchase a prepaid gift credit card please be aware of the Federal Reserve's New Rules For Prepaid Gift Cards that apply to cards sold on or after August 22, 2010.
Student credit cards are a great way for a college student with no credit to build a credit history. We have provided a list of financial institutions that will provide you with a Student Visa or MasterCard.
As you may already know, getting business credit can be difficult because most creditors will want to know your personal credit score if your Company has no credit history. Getting a secured business credit card can be a great way to help establish credit in your Company's name.
Most secured credit card companies require a deposit equal to the credit line you are seeking. Make sure they report your payment monthly to the major credit bureaus. Making your payments on time monthly will increase your business credit rating. You will also get you deposit returned to you after one year, turning your secured credit card into a unsecured credit card.
There are steps you should take before trying to obtain a secured business credit card. First, incorporate your business and obtain a EIN number (This will protect your business from your personal creditors by separating your business credit from your own credit rating). Second, open up a business checking account.
Once you have established your corporation and have opened up a business checking account with it's own EIN number, ask your bank if they will issue you a secured business credit card to help you establish your business credit rating.
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Although all information is written in good faith and has been reviewed, please email us at [email protected] to report any inaccuracies.