If you browse just a handful of the thousands of credit card websites on the Internet you will quickly realise just how many different cards there are to choose from. It can be a daunting task to find a credit card that will work for you, and not the other way around. First of all, the best rates are typically offered to those consumers with a good credit history. Knowing your score will put you at an advantage when you’re looking to find a card, and knowing how to read your credit report is also useful. Whether you are able to be in the driving seat and find a card that’s perfect for you, or accept what you’re offered, may depend on a network of credit reporting agencies that are connected to the three major credit bureaus. A Credit Report is usually a critical factor in formulating the credit scoring systems that major lenders use to issue credit cards. So you owe it to yourself to be aware of what information your credit report contains.
It is unwise to compromise on your choice of credit card and accept something that you know deep down is not what you wanted. So, if you’re considering making an application for a new card, it’s always good practice to check your credit report first so you know exactly where you stand VCC buy . At least you can be aware of, and if necessary take care of, any problems before they jump up and scupper your plans. If you discover any problems, take steps to rebuild the damaged credit and get that report cleaned up. If, in the past you have made mistakes with previous loans, bounced checks or made late payments, some basic repair will go a long way to undoing some of the damage and it will be worth it in the long run when you find a credit card for you. One that meets your requirements in every way. Thanks to a 2004 federal law, obtaining a copy of your credit report is simple. Everyone now is entitled to one free credit report from each of the main credit reporting agencies (Equifax, Experian and TransUnion) every year.
Credit cards are without doubt the largest sources of debt in the US. This situation has arisen because a higher number of people are not managing their finances the way they should, and in many cases this is because they do not own a credit card that suits their needs. The card doesn’t work for them.. they are working for the card! However, by learning how to find a credit card with the interest rate and benefits you want, you’ll be more likely to end up with the better deal. The better deal will typically mean less monthly payments, which will obviously be simple for you to manage. Take time to balance all the numbers in any offer. As a rule of thumb, experts will suggest that a low, fixed-rate card is often better than one with a low, variable-rate. Issuers can raise their fixed-rate cards when interest rates raise, but changes are not automatic and they are required to give you 15 days notice of any change in rates. Whereas in the case of a variable-rate card your rate can move regularly and without prior notification. Also, a lower APR may only last for a few months, while a slightly higher interest rate may last a year. You need to know how much you intend to use your credit card, in order to do the math.
So first off, get a copy of your credit report and study it. Work on that report if there are areas you can improve your score. Try for a score in excess of 700, and you will then be able to find a credit card that you will qualify for, without much trouble. Below 700 and you’ll find your choices will be limited. If your score is below 620, I suggest you work hard on repairing it before you even try to find a credit card. A good idea in this case would be to apply for a pre-paid card, use it often and you will find your credit score will certainly improve. To find a credit card you really need, take your time.. plan your modus operandi.. rushing is not the answer, and if you need credit desperately, then you’re probably better off without it!
One of the options that you might be interested to go in for would be to get prepaid cards which are among the safest available today. In this manner, you will be able to get cards that require no background check or any other history. Since the money is paid up front, before you make use of the card, the banks or financial institutions will not have any problems in issuing such a card. The best part is that you can make use of this card in building your credit history and then shifting to a better card. Hence, this serves as a great option when it comes to credit cards for people with no credit history.
Another option to go in for when it comes to no credit credit cards would be to get a card that is procured in exchanged for some kind of collateral. This might be a deposit that is paid while applying for the card and can be claimed back when you are closing the card at a later stage. Hence, it is definitely a good option to have and take advantage of if you have no other form of creditworthiness to offer. The advantage here is that you might be able to get regular cards and not have to wait and build credit history to get the cards. As long as you have the money, this option shouldn’t be a problem to pursue.