A Guide to Easy to Get Credit Cards

Guaranteed Approval Credit Cards for a Bad Credit History

Even if you have a low credit score, it's still easy to get credit cards. Interest and charges are higher, but approval is guaranteed if that you know where apply.

If you've damaged your credit, you're no doubt looking for easy to get credit cards. Failing to comply with the terms and conditions of your credit agreements will be reported to Experian, Equifax and TransUnion, and this means that borrowing money will be significantly more difficult. If you've already been rejected, you'll quickly realise how difficult it is to get approval.

A guaranteed approval credit card will typically enjoy less favorable terms because you represent more of a risk to the issuer. This will normally mean a higher interest rate, annual fees and other miscellaneous charges. You'll start off with a low initial credit limit, but this can usually be increased once a minimum of six payments have been made on time.

Types of Easy Credit Cards

• Secured. The customer uses their home, car or a cash deposit as collateral for a higher initial limit. It's important to appreciate that failing to keep up with the monthly repayments will lead to loss of your security in order that the debt can be cleared.
• Pre-paid. Money is loaded onto the card in return for a small fee. Although there's no limit, it works in the same way as any other card. There's not usually any reporting, so it isn't suitable for rebuilding credit. Effective for improving money management.
• Unsecured. These cards typically have higher fees and charges in return for a small initial limit. This is a useful option for people who are unable to offer collateral.

Credit Recovery Help

Although an easy to get credit card doesn't have the same terms as a mainstream card, you can use it to rebuild credit. The more payments that are made punctually, the better this is for you. In a few months' time, you'll become eligible for a more competitive deal.

The terms that aren't as good as they were in the past, but you'll be able to recover from a poor credit history. Asecured credit cardoffers a lower interest rate and charges, but non-payment will results in the loss of valuable collateral, so it's best to secure the card with cash.

You may prefer a pre-paid card, especially if you aren't very good with money and want to avoid debt. The only real problem with it is that it won't help with credit repair unless it displays the creditbuilder symbol. You just need to decide which factors are the most important to you.

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