Choosing a credit card for bad credit, no credit or good credit.

Helpful guide for choosing a credit card = Card you may qualify for based upon your credit   ATM Card Debit Card Guaranteed Issue Card Major Unsecured Credit Card Major Platinum Credit Card Bankruptcy (Non-Discharged)       Bankruptcy (Discharged)     Bad Credit (Major credit problems)     Fair Credit (Minor credit problems)   Perfect Credit (700+ score)

Choosing the best credit card that's right for you:

Not only are there different issuers, there are many different types of credit cards, so how do you choose a card that's right for you?

To choose the best credit card for you (and one which you'll have greater success in getting approved for), narrow the choices according to your current credit history. If you have no credit or bad credit, you can immediately disregard the high credit limit, high perks cards offered by major, well-known issuers.  Typically these are platinum or titanium cards that allow you to make charges wherever the card is accepted, whether at brick-and-mortar retail stores, online stores, or by making purchases over the phone.

If you have fair or good credit, more options are available to you. If your credit rating is near excellent, your options increase.

If you don't know your credit rating, you should order a credit report before applying for a credit card.  This will also help you spot fraudulent activity and errors so you can make corrections before you apply for a credit card.  Why get rejected for credit, or pay higher than necessary interest rates, because of errors on your report?

Even if you don't know your exact score, you may already have an idea of your credit rating, particularly if you recently applied for credit but were denied.

So with your credit score in hand or your best guess in mind, you can consider credit card offers within the following three ranges:

Bad credit, no credit: Consumers in this category pose a high risk to issuers, so don't expect a large, unsecured credit limit with perks. Typical cards for consumers in this category are:

Catalog cards: Catalog cards; also referred to as "Merchant Cards", allow the card holder to purchase items on credit from a specific vendor or from a certain catalog.  Most of these cards are marketed as "guaranteed" approval because they limit how the card may be used. Examples of this type of card are those offered by retail stores, whereby the card can only be used for purchasing products from the retailer and not from any other store, nor can such cards be used for booking airline or motel reservations.

Secured sawcards: Secured cards; including debit cards, offer more flexibility than catalog cards, but do not provide any unsecured line of credit. Purchases are "pre-paid" by the card holder depositing funds into the account.

Troubled credit: Consumers in this category will have a few more options in regards to unsecured credit cards, but again don't expect to be approved for large, unsecured credit limit cards with perks. Typical cards for consumers in this category are:

Sub-prime credit cards: Sub-prime credit cards are unsecured, low credit limit cards, which may award higher credit limits as the card holder's credit rating improves.  The key here is to find a sub-prime credit card that reports timely payments to the major credit bureaus so the holder's credit report score may improve. These cards generally require activation fees.

Good credit: Consumers in this category are sought after by major card issuers, which is the reason why so many offer perks and special introductory or balance transfer rates. Typical cards for consumers in this category are:

Platinum and Titanium credit cards: Regarding platinum and titanium credit cards, do not confuse catalog platinum or titanium credit cards (often marketed as "guaranteed" approval), with platinum cards offered by major issuers such as Visa or Chase.  The "real deal" platinum and titanium cards allow the card holder to make purchases wherever the card is accepted and is not limited to a certain retailer, vendor or catalog.

Since typical platinum and titanium credit cards require an above average credit rating and income level, issuers will often offer 0 introductory on purchases or balance transfers, plus other perks such as mileage points, in order to gain new customers.  If you qualify for such cards, resist the temptation of taking full advantage of the credit limit, or you may discover you've gotten yourself into too much debt and jeopardize your good credit standing.

When considering these cards, three key issues you may want to consider are:

1) If you have balances on existing cards, would there be a balance transfer fee or a separate interest rate for transfers? Are special rates only for a certain period of time? And is there a limit as to how much debt you can transfer?

2) What is the annual fee, if any, and the interest rate? Does the interest rate apply to balance transfers or only to new purchases? Is there a fee for balance transfers?

3) What are the perks, and what perks will benefit you the most? If you travel frequently, you may prefer a card that offers frequent flyer miles, rental car or lodging discounts.  If you plan to use your card mainly for shopping, you may prefer a card that offers a cash back percentage or free extended warranty coverage.

Before applying for any credit card, be sure to read the full terms and disclosure. If you don't understand a particular term, call the issuer and ask for clarification.  Be sure you're aware of any fees, over-limit charges, and if the interest rate may be changed for any reason, including if you are ever late making a payment or exceed your limit.  Additionally, ask the issuer if they will increase your interest rate if you are late making payments on other bills, such as utility bills or mortgage payments.

Lastly, if you already have a credit card but you're shopping for a lower interest rate, first ask your current issuer if they will lower your rate. Let them know if you've received better offers. If you've been a good customer, many issuers will work hard to keep your account active and to please you.

Need more credit card information? Read our financial and credit articles about choosing credit card offers.

Credit Card Tips

Credit card companies are taking all the steps to make sure they will be ready for the new laws in February 2010. Some companies are ready and others are getting more prepared. Disclosing the terms and conditions in an easy to understand way is part of the new law. 

The companies usually offer consumers a card that fits their credit type even if it was not the card inquired about. When consumers are offered different cards, they will also get information about the terms and conditions associated with the card offer before the application is processed.

Cards have different APR information and will state if the APR will apply to cash advances and what can cause it to rise or fall. Some companies increase the rate when payments are late or the credit limit has been exceeded. Information about processing fees will be provided and may vary depending on credit worthiness.

Secured credit cards as other credit cards have different fees, terms, and conditions. Processing fees can range from $0 to $35. Every company is different and may require low security deposits or high deposits. They can change the APR and can apply payments to lower APR balances before applying it to higher balances. When seeking a credit card, it is important to read all the terms and conditions for fees. For example, if you select that you want your credit card delivered quickly, it could cost you.

Make sure you know who your credit card issuer is, their phone number, how they process your personal information, and if they share your personal information with third parties. keep all your credit card account numbers in a safe place along with phone numbers in case you ever need to report a lost or stolen card. Always report lost cards immediately. Having a credit card is a privilege and the terms and conditions for using the credit card must be followed.

Credit Cards

Credit cards can have great benefits and rewards that are specific to certain cards. Usually the more the card is used and the higher the annual fee, the more benefits are offered. There can be points to collect and exchange for things like airline tickets, contributions to a favorite cause, restaurant discounts, and hundreds of perks from which to choose.

Benefits are offered to get consumers to choose one card over another. There must be something unique as interest rates and other financial benefits are often alike among credit card companies. A free trip earned through points can be great for those consumers who use a card often and like to travel. When the balance is paid off every month, it may be even easier to get the benefits offered.

When you choosing a card with benefits or points, it is better if you will really use the rewards. Read about the terms and any deadlines for using perks. Check your spending level against the amount required to earn the benefits to figure out if you will use the card enough to earn the rewards. If for example, you like to use a specific resort, make sure the card you use will provide rewards for that specific resort. Sometimes there is a time frame for using the rewards and they may expire or not expire. Another example of a credit card with perks is one that offers rewards to get a rental car. Having credit cards with perks can be a way to get benefits, save money, and get points to spend at specific places when credit cards are used frequently.

Order Online Without Credit Card - Some consumers want to shop online yet they don't have unsecured credit cards because of bad credit. Here's how you can order online without a credit card... well, without a typical credit card.

Get Catalog Card Information and Apply Online - Click Here

A typical unsecured credit card generally requires a credit check and often results in rejection of bad credit people. And that is the primary reason why some people see a way to shop online without credit cards.

Yet there is an unsecured line of credit for online shopping, even for very bad credit people. It's called a catalog store card.

How it works: An online shopping club offers an unsecured line of credit to almost anyone. Members get to shop the club's website and order merchandise, and the club sets up a repayment plan.

Benefits of this solution are that approval is almost guaranteed since the application doesn't require a credit check, plus the line of credit is rather large, up to several thousand dollars. Also, many of the products do not require a down payment.

If you're looking for a way to buy merchandise or gifts online without a standard credit card, consider a catalog store card.

Charity Gift Credit Cards - Donating money with a Charity Gift Card is not only a tax deduction, but it also makes you feel good. But just like all financial agreements, you need to be aware of the fine print.

You can either buy a gift card directly from a specific charity (if so offered) or if you don't have a specific charity in mind you could get a Pick Your Charity gift card. These cards let you give a specific amount of money to a person, who then gets to donate that amount to a charity of his/her choice.

Charity specific cards - Only a few of the nation's largest charities offer the option of buying a gift card. Some Goodwill stores have gift card options, but there's no national gift card policy, so availability and terms vary from region to region.

Pick Your Charity cards - If you don't have a specific cause in mind, consider this type of gift card. The cards are bought online; purchasing them is similar to any type of gift card. Select the format the card will be delivered in, either e-mail or US mail. Load it with a donation value and enter the recipient's information. After getting the gift, the recipients turn philanthropic donors by going online to the gift card's Web site and clicking the charity of their choice to receive the card's amount.

Fine Print items to be watchful:

* Fees: All the money you donate may not go directly to the charity. Some may give a percentage to the group providing the card. For example, it costs between $1.50 and $5 just to purchase the card. After money is placed on the card, fees for shipping, handling, administrative needs or credit card processing are deducted from that amount. CharityChoice gift cards, for instance, feature a transaction fee of 50 cents per card, a card processing fee of 3 percent and an administrative fee of 5 percent.

* Speed: The money that does go to the charity doesn't always go right away. Some organizations only transfer funds to the designated charities on a quarterly basis.

* Expiration dates: A few have them, meaning that well-meant cash will go to the card issuer, not a cause. Network for Good's Good Card, for example, expires after just six months. (They recently changed it from one year.) It then takes the unused funds "to train thousands of charities in outreach and help them raise funds online." The Credit CARD Act of 2009 -- which also addresses gift cards -- says gift cards can't expire for at least five years after they were last loaded with money. However, those changes don't take effect until August 2010, so in the meantime, it's important to pay attention.

* Tax benefits: The card giver gets a tax deduction for the face value of the gift card. The recipient, who designates where the money will go, doesn't get a tax break.

* Varying number of charities to choose from: Some cards let the donor select from varying numbers of charities. Too many could be overwhelming; too few hinder choice.

Credit Card Law

The credit card law will bring about changes for issuers and cardholders. Issuers will have restrictions on rate hikes, fees, and increased disclosure requirements. Those who borrow will need to know some provisions in the law and some loopholes. Sometimes a creditor will cut credit limits because credit scores drop, credit cards are not used much, or there is a change in the way payments have been made. There have been times when even good customers have had their accounts closed just due to not making charges. Consumers should try maintain good scores, pay on time, keep balances low, and try to avoid closing accounts unless it's necessary. It is also important to make some charges on credit cards that can be paid in full or on time each month.

If there have been many holiday purchases, it is best to try to pay them off or pay the balances down early into the New Year. By reducing outstanding balances, it can protect against negative changes to an account, and could improve credit scores. Even a lower balance could help cushion credit scores against credit limit reductions.

One important ratio in credit scoring formulas, is the amount of credit used versus credit limits. If limits are cut and debt doesn't decrease, scores could drop. It is important to open credit card statements in case card issuers send information to opt out of a change in terms. They must send out notices at least 45 days in advance of the effective date. That gives a limited time to decide whether to reject the proposed change, yet opting out cancels the account. When there are derogatory errors on reports, scores can be lower so it is important to check reports at each of the three major credit reporting agencies on a regular basis, especially if you want to apply for credit cards and you don't know what type of credit you have. When bills are usually paid late, credit can be less than perfect as late payments lower scores. In this case, one would need to apply for a card that approves less than perfect credit people.

Inactive Credit Cards

If you have a credit card that has not been used in a long time, you may want to consider using it fast. Some card issuers may close accounts that are not being used. Dormant accounts don't yield any profits to institutions. Some issuers may even charge inactivity fees for unused cards or may charge fees that don't have an annual spending threshold. 

An account that does not have a balance could cause a drop in available credit, it is suggested that a card is used at least once every few months so the issuer sees some gain. It won't matter even if balances are paid in full after getting the statement, the card issuer can  generate income from interchange fees from transactions which could be as much as 3% of a purchase price.

There are many issuers that are offering great reward programs like Chase for those consumers who are wanting to apply for an unsecured credit card before it is time to take their summer vacations. Discover has a great cash back card and offers many online account features to manage the account. Compare credit card issuers to try to determine which card offers the rewards or perks that you will actually use. If you have a couple of cards that are still active, be sure to make some type of charge often to prevent the account from being closed. It can hurt credit to close long term accounts. If credit is not used, good credit habits like paying off balances are not being reported.

Credit Card

With the new credit card rules in place it may mean getting a new account can be difficult. With many consumers in debt, credit card companies and banks seem to get more picky when approving new card holders. They may want more of the best applicants than just trying to get high numbers of applicants and they may desire those who will be better account holders.

Getting approved for cards may be a plus and consumers may not be able to expect as many perks as in years past. There may be more annual fees, reductions in points and cash rebates. Be aware that all those unsolicited credit card applications in the mail may be far and few than past years.

Some consumers have already experienced slashed credit limits, even those people with great credit scores. Scores of above 700 FICO score generally landed a consumer a credit limit around $8,000 and now it may be only a little higher than $4,000. With all this, consumers may have a new interest in using debit cards rather than charging on credit cards.

Credit Card

Credit cards are often slammed when it comes to using them for personal finances, but when consumers use them in a positive way, they are excellent as a financial tool. For those who pay off credit card balances every month, it can be like getting a loan without interest fees. For those who do not pay off credit card balances every month, there will be interest fees to pay and any late fees if the payment is not on time.

Having credit cards can making getting great deals online, and be much easier than wasting time, money, and gas shopping for gifts. Many unique items can only be found online and who does not like to get a special gift that no one else has. Online shopping can help save money on some items you purchase. Some of the best deals available are now found on the Internet. In many instances, the only way to pay for these Internet purchases is with a credit card or debit card. 

A credit card can provide instant emergency money when we exhaust the cash we carry with us, when out shopping, running errands, or on vacation. Having a  card is one great way to give an instant solution to pay for expenses. There is less fear of loss with a credit card when it is lost or stolen, as it can be reported immediately and you may only be out $50. By just using cash, if it is lost or stolen, it is gone for ever. 

Another benefit to use credit cards are for those consumers who are not good when it comes to keeping receipts. A credit card gives you a complete and detailed summary of your spending each month and the record can be used to create a budget. It is easy to read statements and see where all the money is being spent. It can make returning items much easier too.

Using a credit card can help establish or improve credit history, and rebuild credit scores. This can only be done by making payments on time and paying off the balances as soon as possible. High credit scores can mean getting good interest rates on loans or other credit related services. If you need a credit card, review these 0% intro credit card offers.

Calculate Credit Card Interest	How to calculate credit card interest. Use our online free calculators, or download calculator software to your computer for offline use.
Experian Reports Ability To Pay Bills	Not only can a bad credit history get you rejected for an unsecured loan or a credit card, now your perceived inability to repay can get you denied.
ATM Debit Card Tips for Secure Handling	Review our free ATM debit card tips for secure handling of your card and withdrawals.

What Happened to Bad Credit Cards	Democrats Removed Our Right To Prayer In School And Now Strip Us Of Credit Cards. Here's what happened to bad credit cards.
Debt Management Plan Advice	Review our free debt management plan advice. In a DMP, you deposit money each month with a credit counseling organization. The organization uses these deposits to pay your credit card bills, student loans, medical bills, or other unsecured debts according to a payment schedule they’ve worked out with you and your creditors.
Democrats Raise Credit Card Rates and Fees	Democrats Raise Credit Card Rates and Fees. Because of legislation pushed by democrats, credit card issuers will soon have their hands tied as to how they protect themselves against high risk losses caused by defaults.

Credit Card Debt Relief Options	Learn the processes for credit card debt consolidation and credit card debt settlement and choose the debt relief option that is best for your financial situation.
Credit Counseling VS Debt Settlement VS Bankruptcy Filing	When you need fast debt relief, your three big options are credit counseling, debt settlement and bankruptcy filing. Review free tips before choosing.
Choosing the Lowest Interest Rate Unsecured Credit Cards	Free tips on choosing the lowest interest rate unsecured credit cards, from gold to platinum rewards.
Credit Card Rate Changes	Impact of credit card changes, how to choose a credit card or negotiate lower interest rates with your card company. Search for rewards with a gold or platinum credit card or a special balance transfer offer.
Offline or Online Financial Aid	Choosing Offline or Online Financial Aid. Browse our library of free information and personal finance tips.
Free Checking Account	Free checking account tips to choose the best bank offer. Download our free checkbook register software.
Credit Card FAQs	Common questions turned into credit card facts. Apply for a good or bad credit card. Choosing between the best credit card offers can be hard. Consider a no interest 0 intro balance balance transfer, a pre-pay ATM or a pre-paid debit secured credit card, or unsecured credit card benefits that offer travel, miles, discount and vacation rewards. Pick between American Express, Chase, Discover, MasterCard and Visa, even if you need a joint consumer or business credit card.
American Express Gold Card Benefit	American Express(R) and Starwood Hotels add a new hotel reward for American Express(R) Gold Card Members. Browse other rewards, travel and vacation credit card offers. Whether you choose a secured credit card or an unsecured credit card, be sure to review all card faqs.
Instantly Approved Pre Pay VS Platinum Rewards	With multitudes of card offers; ranging from instantly approved pre-pay cards to no deposit platinum rewards cards, how do you choose the best credit card? Before you compare perks and benefits, first weed out cards that may not help you.
Good Debt Relief Company	How to choose a good debt relief company; for credit counseling or to negotiate debt settlement. Avoid debt relief scams and reduce high monthly bill payments.
Gift Credit Card Shopping	Tips for Choosing the Best Gift Credit Cards for Holiday Shopping. Use our credit card guide to find the Christmas credit card best for you.
Poor Credit Card Application	Poor Credit Score? Online credit card applications of secured and unsecured cards to choose from.
Choosing Credit Card Rewards	Helpful tips for choosing credit card rewards, from sky miles, to hotel travel points and cash back rewards.
Choosing a credit card right for you.	Help with choosing a credit card with rewards right for you or for your credit rating. Get pre-approved based upon your history, whether a no deposit credit card or one to rebuild credit.

Store Charge Cards And Gas Credit Cards	Some people don't want or can't get unsecured credit cards and choose store charge cards and gas credit cards instead. Free tips for using store cards and gas cards.
IBC Bank Chooses Visa Debit Card	IBC Bank Chooses Visa Debit Card.
Why People Choose Credit Cards	Credit Card News - People choose credit cards; whether secured or unsecured credit cards, because the benefits can outweigh the bad.
Credit Card Comparisons	Choosing a credit card right for you. Review credit card comparisons of balance transfer offers and introductory interest rates plus special rewards like no deposit or gas rebates to help you choose a good or bad credit card.
Free Credit Card Tips	Free credit card tips to help you choose credit card offers, whether a debit card, credit card to rebuild credit or a platinum credit card with rewards, courtesy of Credit Federal.