Unsecured Credit Cards for Bad Credit: A Chance to Pay off Your Debts and Improve Your Rankings
Today’s hard economic times can take its toll on your finances and can greatly affect your credit ranking. Once you have missed out on your monthly bills, then expect a steady decline of your credit score. When the need arises for you to take out another loan, lenders will not be too accommodating to approve your application.
There is still a solution to the problem. All it takes is to find a lender who is willing to help you improve your credit score. Basically, having a card will enable you to make purchases, whether goods or services, though this will limit your purchasing power. For credit cards, the lender will require you to make minimum monthly payments and if you fail to make on-time payments, then you will be charged interest set by the lender.
You may find the solution in unsecured credit cards for bad credit. The most common reason why people miss out in paying their bills on time is that they do not have available cash in the first place. Getting a prepaid card or a secured card would require an amount to be deposited in a designated account. So, it is not an option for people who do not have extra cash to deposit. With prepaid, the purchases you make will be automatically deducted from the card. The secured card, however, will require a deposit matching the limit or a percentage of the limit. When making purchase, the amount of the purchase will only be deducted from your deposit once you missed out on your payments. Prepaid and secured cards are easy to get, as most do not require a credit check.
Unsecured credit cards for bad credit will be your second chance in straightening your financial woes. They can give you a limit that normally begins at $250 to $300 but if you prove that you can handle your finances responsibly, they will increase your limit. These come with annual fees and interest rates just like secured cards. Prepaid cards may also have fees, like initial activation fees, transaction fees, or monthly fees, but there is no charge for interest whatsoever
Unsecured credit cards for bad credit will also assist in improving your credit scores, as the credit bureaus will be receiving reports of your activities just like with secured cards and most prepaid lenders as well. Although prepaid and secured accounts are less risky on both parties, unsecured credit cards for bad credit can still provide the solution to your financial problems.
Watch the video related to prepaid credit card
The DebitSmart™ Visa® Prepaid Card can be used anywhere Visa is accepted worldwide all the while giving you access to thousands of ATM’s
Help answer the question about prepaid credit card
Is there a prepaid credit card that has no annual fee AND gets reported to the credit bureau?I want to get a prepaid credit card, because I have no credit, and am having trouble getting it because of that fact. I want to find one that has both benefits: 1. no annual fee 2. gets reported to the credit bureau
I have googled it and everything and am having trouble finding one with both things. If you know of one, please let me know. Also, if you know of any better way to get credit when you have none what-so-ever, please let me know. Thanks!
May 1st, 2010 at 8:55 am
A debit card should work–I've been using my MasterCard branded debit card online for years. However, there are occasionally sites that say they don't take debit cards.
In that case, you could try getting a secured credit card. You make a deposit to the bank which becomes the limit of the card (you can't touch that money, so make sure you can afford it). So if you put $500 on a secured card, you would have a credit card with a $500 limit. After a year or less, the secured card will become unsecured and you get your deposit back and it becomes a regular credit card. It reports as a regular card to the credit bureaus too, so no one would know it's a secured card but you. Bank of America has one that is supposed to be very good.
You could also try shopping through sites that use Paypal–you can have Paypal draw directly from your checking account.
May 1st, 2010 at 10:08 am
Yes there is a way for you get a prepaid credit card with your name on it. Its take 7-10 days and its is a credit card.
It cost like 10.00 please see walmart dealer or https://www.walmartmoneycard.com/walmart/homepage.aspx
I hope it works.
If you have a bank card visa that will work also.
May 1st, 2010 at 9:28 am
they have canada . but they dont have an offers that work in canada!! JEEZ and the thing i hate is that i cant complain ….
May 1st, 2010 at 9:33 am
watch?v=QQJr0ulrBLA
this is the best way in my opinion. I got my 32gb iphone in just under a month
May 1st, 2010 at 11:56 am
does this work in australia, no !! waste of bloody time can u just send me 1 plss
May 2nd, 2010 at 5:27 am
sign up for a paypal account and use the card on that, paypal doesnt care if its prepaid, and choose paypal at ebay checkout
May 2nd, 2010 at 8:37 am
I don't think so..
May 2nd, 2010 at 2:35 pm
If you want a reloadable prepay card you will need to get a Green Dot Card.
Most of the others are prepaid Visa cards with a set limit and they can't be reloaded. You buy a $100 Visa Gift Card and use it up but can't reload it because it is not a real account. (Does not have your name on it).
May 2nd, 2010 at 12:26 pm
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May 2nd, 2010 at 8:50 pm
Yes, a pre-paid card is accepted anywhere a regular credit/debit card is accepted.
So you can use it just about anywhere as long as you don't attempt to spend more than the available funds on the card because it will be declined.
May 3rd, 2010 at 1:51 am
You can get a pre-paid card first to help rebuild your credit. Once the financial institution you're working with decides you are credit worthy again, they can issue a traditional card to you.
Hope this helps. Good luck!
May 3rd, 2010 at 7:04 am
Yes you can
May 3rd, 2010 at 12:25 am
That’s crap I live in australia
May 3rd, 2010 at 4:45 am
shit you have to be in america
May 3rd, 2010 at 8:38 am
hand it over
May 3rd, 2010 at 3:15 pm
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May 4th, 2010 at 2:49 pm
sometimes those prepaid debt cards cost
you anywhere from 5 to 20.00 and thats just to get
the card, then there might be charges for non-use or even if you
use a monthly charge.. and do you want to use a ATM more fees
.
read the fine print
I would sugggest you can open a checking account usually for
a low balance or even free of monthty charges and most
of those checking accounts include debit card which works
just like a credit card..
May 4th, 2010 at 1:03 pm
Message me to learn how.