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Building Credit in Despair
Building credit can lead to despair if you do not know where to get started. Creditors come in all forms and some of them are out to take you for a road, so this alone makes the struggle increase. If you have bad credit or no credit then you know...
Credit Cards Without Late Fees? What You Don't Know Can Hurt You
Americans know all too well how much it costs to use credit cards. The average household in the U.S. now has nearly $10,000 in credit card debt. Carrying such debt is fine, as long as you realize that there are costs associated with it. The interest...
Getting the Personal Loans UK with Bad Credit
Personal loans UK can be very useful... they can be used to consolidate debt, make large purchases, and even repair your home. The only problem with personal loans UK is that they might seem difficult to obtain at first, especially if you have less...
Home Equity Line of Credit – Great for Remodeling Projects
Many homeowners are lucky enough to find a house that represents exactly what they want in a home. They buy it, make the payments on it, and live more or less happily ever after. Others are not so fortunate. Some buyers who live in a pricey market...
What Does Your Credit Score Tell You?
When you apply for a loan or a mortgage, the first thing the lender does is to check your credit score. Based on your credit score, the lender decides the amount of finance you are eligible for and the interest rate at which you will be charged. So...
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The Bad Credit Card That May Do Good
Millions of people use credit cards all around the world. A huge
chunk of those users made mistakes when dealing with their
credit cards. The consequence of the errors is costly.
A lot end up in debt and most of the time these are the people
who rant about the credit card being the devil. But fact of the
matter is, this is not the case. When used properly, credit
cards are very good financial tools.
Credit cards are not necessarily just for people who have large
sums of money to use. There are some cards even for the
financially challenged, and these are called the: "Bad Credit
Cards."
A bad credit card is just precisely that: a card with a very bad
or low credit limit.
There are two types of credit cards: there is the secured and
the unsecured credit cards.
Unsecured credit cards are the accounts that are free from the
limits of a bank account. The limit of credit is up to the
bank's discretion and not up to the size of the bank account. If
the bank thinks that a person is deserving of a bigger credit,
then it will be given.
This is the usual type of credit cards in the market and is
fairly popular among the card shopping people. These are also
the cards known to be more respected by other companies. These
are also
the cards known to send people to a very deep debt.
This is the type of credit card that should be avoided if the
applicant is already in a financial mess.
The secured credit cards are the bad credit cards. These cards
are grounded on the size of the account a person has. For
example, if a person has a $1,000 balance, then that is all the
credit a person is going to get. If there is a point where the
balance reaches $0, then the person should go and "re-fill" the
account.
The bank limits the credit to the money already present to avoid
overspending, thus preventing even deeper debt. This will
monitor the expenses of the person and will help the development
of a financial recovery for some.
These credit cards are also known as "pre-paid credit cards" for
there is only a fixed amount that can be used and the holder is
the one who puts it there.
About the author:
Author: Michael Colucci
For a list of 0% APR Credit Cards available today please visit
0% Credit Cards
or www.aplus-credit-cards.com
(You are granted the right to reprint this article but the
title and content must remain unchanged and the authors name and
contact information must be included.)
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| National Credit Union Administration - Home Page |
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| Credit - Wikipedia, the free encyclopedia |
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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, ... |
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