I can still remember seven years ago when I applied for an American Express card online. It took more than one month for me to get approved. Nowadays it’s a lot different. With instant approval, you usually receive notice via email of your acceptance within seconds of completing an online card application. If you have a good to excellent credit record you can even get an easy approval credit card with guaranteed 10,000 limit or an easy instant approval student card, but what happens if have a bad credit score? Are you doomed to pay all your purchases in cash? Certainly not so don’t despair.
The first alternative for people with bad credit score is to get a “secure card.” There are some major card issuers which requires applicants to make a deposit or what we call “secure cards.” If you have a bad paying history, the most logical thing to do is save a little money to be used later on to “pre pay” a card. A secure card is a no credit card because the amount you can charge against the card is determined by the amount of your deposit. If you deposit, for example, $5,000, then you can charge up to $5,000 only. Hence, there is no actual “credit” being extended. Typically, these cards are marketed as no credit credit cards because of the fast, easy instant card approval.
The second alternative is to search for a “bad credit credit plastic” and find an easy approval unsecured credit, but they should try to resolve their bad credit issues and prevent further damage to their credit score.
While there are plenty of bad credit credit plastic choices available, they can do more harm than good if not used wisely. This is one way for a consumer to repair his damaged reputation by making up to date payments on his bad card and eventually upgrading to the real credit card in the future. And also a bad card charges a higher interest rate because of the increased risk to the issuer.
The third option is to apply for a debit card. Debit cards are cards that can be used depending on how much money the user transfers to the specific card. Consequently, the risk of running up credit card debt is nil. There are also no finance charges to contend with, only minimal fees for application, start-up and ATM card.
Credit cards for bad credit score were designed to rebuild credit that had been damaged. For those with no credit or poor credit there are secured credit cards, bad credit credit cards and debit cards but there are also unsecured cards that can be used for this purpose. These cards generally come with low credit lines (around $300) and additional fees. This kind of card will not allow you to on shopping sprees but it will certainly help you restore your damaged credit history. If you’re disciplined and pay all your bills on time you can ask for a credit increase after a while with an end goal of upgrading to an easy approval credit card with guaranteed 10,000 limit. Isn’t that wonderful? But in the meantime let’s concern ourselves with finding easy approval credit card applications with bad credit score.
By: Raul T. Cruz
Posts Tagged ‘Email’
Easy Approval Credit Card Applications With a Bad Credit Score
March 22nd, 2010Credit Repair
March 4th, 2010
There are no rules of erasing any information so far. But you can do any corrections if is necessary. You cannot terminate any negative information but the incorrect information can be erased from your credit. Then in the place the accurate information would be included and the report would be shown in your credit for seven years.
You can take the credit repair services if you need. There are credit repair services that are paid for their tasks. There are payment systems for them. But they can not take payment unless the fix your credit problems. Laws have also provided for such service. There are federal laws for credit repair services to aware you about your legal rights. They give you a contract which is written in details and that you can cancel if you want to with in three days. It is applicable for the non-profit services not for the non-profit organizations.
You can get the credit repair done through email service. You can also send and get emails for credit services. But be cautious about the emails because they sometimes might be fraud. You might get emails from the organizations that are fake and want to have their own profit.
If needed correction can be done in your credit report. You can also correct the mistakes yourself in your credit report. You can ask for a free copy of your credit report. By the state law you are allotted to get one free copy a year. Otherwise there is a small fee for the service. But it doesn’t cost anything if you ask question or if you have any queries. Thus you can do corrections, get copy of your own after corrections, ask questions and get your queries for free.
Explanation of any misdeed which is out of law can be added to your credit. If you want you can also add any explanation in your report. There are cases like when you are not able to pay your bills on time for a loss of job or a sudden illness or if you have any queries or any disputes about the system you can add an explanation in short in your file to the credit bureau.
There is no rule of opening a second credit file. There are many fraud companies who are in sake for opening a second credit file. In order to create a new credit file few fraud companies sometimes might come up to you provide different tax identification or various security numbers. It is an illegal task n it is called “file segregation”.
If you have credit problems you can go for counseling. You can get a good consult from the Consumer Credit Counseling Service (CCCS) to get a good credit report in your record. You can also get good advices from CCCS for your payment plans to your creditors if you fail to do so properly in some instance. You can get these services done in a very low cost or even at times free of cost.
By: George Burns
Compare Credit Repair Companies
March 1st, 2010
When preparing to select a credit repair company, make sure you do your homework. Each company offers different services and you need to read the fine print so you don’t overpay for unnecessary services. When you select a credit repair company the process should be easy, effective and most important the services rendered should be extremely transparent. There are a number of things that you can do for free to improve your credit score. If you are ready to hire a professional make sure you have done what you can to fix your own credit first – i.e. close unnecessary credit lines, make timely monthly payments, etc. If you’d like some free tips on how to improve your score visit the Federal Trade Commission’s site for more detail.
We have reviewed 5 credit repair companies and evaluated them on a number of categories important for prospective customers. The goal of this review is to rate each site so we can come up with an overall ranking and find out what separates different credit repair companies online. We are starting with only 5 companies, but we will continue to add companies to this list – if you have any suggestions for companies that should be reviewed drop by our site or send us an email.
Website Graphical Layout (Scale of 1-10)
Lexington Law – 7
Credit Bureau Experts – 7
Ovation Law – 8
Trinity Credit Services – 6
DSI Credit Repair Company – 6
Website Ease of Use (Scale of 1-10)
Lexington Law – 8
Credit Bureau Experts – 6
Ovation Law – 8
Trinity Credit Services – 6
DSI Credit Repair Company – 7
Testimonials (+5 points for Yes, 0 for No)
Lexington Law – Yes
Credit Bureau Experts – Yes
Ovation Law – Yes
Trinity Credit Services – No
DSI Credit Repair Company – Yes
Sitemap (+5 points for Yes, 0 for No)
Lexington Law – Yes
Credit Bureau Experts – No
Ovation Law -Yes
Trinity Credit Services – No
DSI Credit Repair Company – No
Refund Policy Online (+5 points for Yes, 0 for No)
Lexington Law – Yes
Credit Bureau Experts – Yes
Ovation Law – Yes
Trinity Credit Services – No
DSI Credit Repair Company – No
FAQ Section (+5 points for Yes, 0 for No)
Lexington Law – Yes
Credit Bureau Experts – No
Ovation Law – Yes
Trinity Credit Services – Yes
DSI Credit Repair Company – Yes
Privacy Policy (+5 points for Yes, 0 for No)
Lexington Law – Yes
Credit Bureau Experts- No
Ovation Law – Yes
Trinity Credit Services – No
DSI Credit Repair Company – Yes
BBB Online Reliability Program (+5 points for Yes, 0 for No)
Lexington Law – Yes
Credit Bureau Experts – No
Ovation Law – Yes
Trinity Credit Services – No
DSI Credit Repair Company – No
Overall Score
Ovation Law 46/50
Lexington Law 45/50
DSI Credit Repair Company 28/50
Credit Bureau Experts 23/50
Trinity Credit Services 17/50
Ovation Law and Lexington Law clearly separated themselves from the pack in this review. Both companies are a part of the BBBOnline Reliability program. This is important because to be a member you must be: a BBB member, have a satisfactory complaint handling record, respond promptly to customer complaints and agree to dispute resolutions as necessary. In addition to BBB membership Ovation and Lexington have a privacy policy, sitemap and a clearly stated refund policy. If you are serious about repairing your bad credit, we recommend starting with a company that is reputable and meets certain industry standards. Check out similar articles at our site: Free Yearly Credit Report.
By: Chad R Fisher
