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Who is the best company for a non secured credit card so i can rebuild my credit i dont know where to start?

Answers:1   |   LastAnswerAt:2009.12  

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visitor
Sassy6702 
Asked at 2009.12.18 20:01:52
i have bad credit and i have recently paid off alot of my debt that has been on my credit for years. i want to rebuild my credit but i dont know where to go to do this , what company is the best to get a non secured credit card
answer caelie a  Answered at 2009.12.18 20:01:52
f you are looking for a credit card for bad credit, there are many options to choose from. The two main types of cards available are either a secured credit card or an unsecured credit card for bad credit. Both types of cards can help you repair your credit by giving you an opportunity to establish a good payment history. The costs and fees associated with each type of card are very different, however. In addition, depending on how bad your credit is, whether you have sufficient income and other personal details, you may only qualify for one or the other.

First let's look at the secured credit card for bad credit. A secured credit card requires that you deposit money with the issuing bank, and the bank will issue a credit card in the same amount for your use. Secured cards are guaranteed to be approved, because the bank has your deposit money in case you do not pay your balance. A secured credit card for bad credit operates much like a regular credit card. You receive a monthly statement, and you pay your minimum monthly payment or the balance in full each month. You are charged an interest rate, annual fee and possibly other fees for a secured credit card account.

Be aware that with a secured credit card for bad credit, your charges are not deducted from the deposit you have with the issuing bank. The bank is simply holding your deposit in the case that you default on your credit card balance. You must pay your monthly payments, and owe the bank the balance that you have charged on the credit card. You cannot refuse to pay simply because the bank is holding a deposit without further damaging your credit.

A second option for getting a credit card for bad credit is to get an unsecured credit card. Unsecured credit cards are available for bad credit clients, however, the issuing banks charge high fees to cover the risk of extending credit to a bad credit client. You can expect to pay anywhere from $200-$350 or more in fees which the bank will keep, you do not get that money back. Those fees are upfront costs for obtaining a unsecured credit card for bad credit. In some cases, the bank will allow you to pay the fees over two or more months. read more about it at:<a href="http://www.card-gallery.com/article/137,Get_The_Best_Deal_On_A_Credit_Card_For_Bad_Credit." rel="nofollow">http://www.card-gallery.com/article/137,…</a> You can get a best credit card here according your credit.
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