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Bad Credit Home Loans - Pre-Approval is Still Possible With Adverse Credit History
If you are among the millions with less than perfect credit, there are many sources available to you in obtaining a mortgage. Lenders that specialize in mortgages for those with bad credit are competing for your business. The lender will analyze...
Bad Credit Loans: Be Careful!
If you’ve gotten yourself over your head in debt, and suddenly have a need for cash right away, it is possible to get a loan for bad credit. Loans for bad credit will not give you a worse rating if you require a non-bad credit loan later down the...
Bad Credit Mortgage Lender - What to Look For
If you have less than perfect credit and are looking to get approved for a mortgage loan, be careful not to make some common, costly mistakes. When dealing with sub-prime mortgage lenders or bad credit mortgage lenders, many people are taken...
Stop Think and Listen when Repairing Credit
One of the best tools for repairing credit is to stop, think, and listen. If you are in debt, you need to stop and think about your situation and stay alert to the activities on your credit report. In this article, we are going to examine...
The Truth About Low Interest Credit Cards
Low interest credit cards are wonderful if you can get your hands on one. They offer great rates so it is easier to pay off your balance in a timely manner. These cards are perfect for those making large purchases on their credit cards, or even...
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A Credit-free Card: What Is A Prepaid Credit Card?
In this high-tech era of computers and machines, the purchasing
power of people is mostly based on credit. Nowadays, credit
cards are almost indispensable in almost any business
transaction. For one, nobody can purchase anything online
without a credit card.
People who have a poor credit history though, will have a hard
time getting or renewing their credit cards. This is where
prepaid credit becomes useful.
There are lenders that offer prepaid MasterCards and/or prepaid
Visa Cards. Both these cards can be used like a regular credit
card. It is even hard to distinguish which card is prepaid or
not, by simply looking at it or even using it.
This is basically how prepaid credit cards work. When an account
is opened, the card should be "pre-loaded" with cash up-front.
This is like paying for a pre-paid calling card. Prepaid
MasterCards or Visas can be used anywhere as long as these cards
are accepted.
The prepaid credit card advantage:
1. Prepaid credit card can be easily obtained. It can be
purchased online or in local retail stores. It does not require
any credit check or proof of income.
The only thing to do is to fill out an application, pay a small
fee for setting-up the account and load the card with cash. The
amount of cash loaded will be the "credit limit"
2. No interest charges.
When a
prepaid MasterCard or prepaid Visa is used, there is no
interest charge unlike the regular credit card. The reason for
this is that the money used is the owner's actual money
therefore no interest is needed.
3. Prepaid credit cards are free from financial or credit
problems.
4. Prepaid cards can be used almost anywhere. Prepaid
MasterCards and Visa cards are almost accepted anywhere in the
world.
Disadvantages of Prepaid Credit Cards:
1. Usually a set-up fee of 5 to 50 dollars is needed when an
account is opened. Then another fee of $5 or more is paid every
time more money is loaded onto the card.
Regular credit cards usually do not charge a set-up fee or
annual fees.
2. Cash up front is needed before any purchase could be made
with the prepaid card. This could be an advantage since
compulsive spending can be avoided.
3. There are some prepaid credit cards that cannot be used to
pay regular payments such as monthly electric consumption or
online services.
The Conclusion:
The prepaid credit card is a definite help for people who have
past credit problems. It is just a matter of choosing the right
prepaid credit card that suits ones' needs.
About the author:
More information about credit and credit cards is available at
stooze online
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| Federal Trade Commission - Consumer Credit Center |
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| National Credit Union Administration - Home Page |
| An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
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| Credit - Wikipedia, the free encyclopedia |
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| en.wikipedia.org |
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| The National Foundation for Credit Counseling |
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| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
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| www.zug.com |
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| Credit magazine, corporate bonds, derivatives, structured credit ... |
| Credit magazine provides information on the international credit markets for credit investors, issuers and market professionals. |
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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
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| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
| credit.about.com |
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