Online application for an unsecured credit card to rebuild credit.

  get an unsecured credit card to rebuild credit.

 

Need help re-establishing credit? Apply for an unsecured credit card to rebuild credit from an issuer who reports your payment activity to at least one credit bureau.

 

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More Cards! Apply for an unsecured credit card for bad credit people.

 

 

*By making on time payments and keeping your balance under the limit, you may be able to improve your credit score

   

How can a credit card help rebuild credit?

A credit card which reports your timely payments to a major credit bureau will show potential loan lenders and card issuers your ability to make good on your financial obligations. Not only will a good credit report assist you in obtaining loans or other credit cards, it can also be a huge factor on the interest rates lenders and issuers may grant you.

Get a credit card to rebuild credit. If you have very very bad credit; such as recovering from bankruptcy, you may have a difficult time obtaining an unsecured credit card. But even a secured card can help rebuild credit.


Tips for credit rebuilding with a secured credit card:

Don't use all of your available credit. Maxing out your credit cards hurts your credit score.

You don't want to charge more than 30% or so of your credit limit, and you want to pay the balance off in full each month. Light, regular use of a credit card is what helps build your credit.

And contrary to what you might have heard, you typically don't need to carry a balance or pay credit card interest to build your score, since the leading credit scoring formula doesn't distinguish between balances that are paid off and balances that are carried month to month. Get in the habit now of not charging more than you can pay off every month; your credit score and your finances will be the better for it.


What to look for when choosing a secured card:

No application fee and low annual fee. Some secured cards charge huge upfront and annual fees. Fees don't help you rebuild credit.
Reports to the major credit bureaus. You're not doing your credit score any good unless your payment history is being reported to the three major bureaus: Equifax, Experian and TransUnion. Call and ask if the card issuer regularly reports to all three before you apply.
Converts to an unsecured card after 12-18 months of timely payments. Good behavior should get you upgraded to a regular credit card within a year or two.

If you have high unsecured debt, you may consider applying for credit card counseling.

 

Apply online for an easy approval credit card. There are credit cards designed for people who have troubled credit and desire to improve credit scores. Although these card issuers may not offer a high credit limit, they nonetheless do offer an unsecured line of credit which can be used like any standard credit card. You can book flights, make airline reservations, purchase from retail stores, etc.

In addition to standard cards, it's possible to get approved for a gold unsecured credit card branded by major credit card issuers such as Visa and Mastercard. They have cards that can help you rebuild credit by reporting your timely payments to the major credit bureaus.

 

Need more credit card information? Read our financial and credit articles on how to rebuild credit.

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Visa pre-paid card offers aimed to capture the debit card market. Apply instantly for a prepaid Visa card or an unsecured, no deposit credit card to rebuild credit.
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.
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American Express Business Travel. Apply for a travel credit card that offers rebates for gas purchases and motel stays, or builds airline sky miles.
Chase Helps Build Home Improvement Rewards. Apply for a Chase card with rewards.

Legit Credit Card to Rebuild Credit

  

You can still find a legit credit card to rebuild credit, but get ready to pay for it. Government legislation is making some legit credit card offers seem criminal as companies battle regulations to offset high risk losses of bad credit people.

  

What constitutes a legit credit card offer? Is it low interest? A large credit limit? No, to be a legit credit card, it simply needs to follow government regulations which include disclosing all Terms & Conditions.

  

Legit Credit Card Legislation Causes Costly Interest Rates and Low Limits

  

To have a legitimate credit card offer, the issuing company must fully disclose the interest rate, terms, conditions, fees, etc. With that openly revealed, the credit card is legit.

  

First Premiere Credit Card has openly disclosed its credit limit, fees, and its 79.9% interest rate.

  

Wait... perhaps that's a typo... maybe it's supposed to read 7.9%... or maybe even 9.9%... right?

  

No... The 79.9% is correct.

  

NBC San Diego reported that a Sacremento man received a pre-approved credit card offer from First Premiere, with a 79.9% interest rate. The recipient, thinking that the interest rate was printed in error, called First Premiere to verify the rate. The company confirmed that 79.9% was indeed the preapproved credit card's APR.

  

And that wasn't the only bad news... In addition to the super high interest rate, the card came with upfront fees that eat up 80% of the credit limit, leaving only a $50 line of available credit.

  

Is this a legit credit card offer? As of the date of this article, you bet. The credit card fully discloses the interest rate, terms and fees and other necessary information. The interest rate may seem criminal, but the card is; for the moment, a legitimate credit card offer.

  

Yet once the new credit card laws become effective February, 2010, credit card issuers won't be able to take up more than 25% of available credit with initial fees. As for the interest rate, there are no federal caps on rates. Instead, each state has their own maximum interest rate regulations and some states have absolutely no interest rate caps at all.

  

So what do you do when you receive a preapproved, legit credit card offer with a super high interest rate? Either accept it because you are certain you can payoff balances before the grace period expires, or simply reject the offer.

  

But why are some credit card companies charging such super high rates? You can blame this problem on government regulation of an industry which should be deregulated to encourage competition and subsequently drive down rates in the pursuit of customers. Because of government restrictions, the credit card companies that dare extend unsecured lines of credit to high risk, bad credit people, have to spread risk (potential costs) across the full spectrum of customers, not just the bad credit ones.

  

Look at the problem this way: Two people want to borrow money from you. One person has borrowed from you before and has always repaid you quickly with no problems. The second person has borrowed from other people that you know, and has always taken extremely long to repay and only after repeated (and aggravating) collection attempts. In this situation you would readily loan a lot of money to the first person with low interest and no collateral. The second person; however, you may not want to loan money at all, definitely not a lot of money. And if you did, you'd want collateral and to charge a high interest rate. Only fair, right?

  

Not according to democrat legislatures. They feel that you should loan money equally to everyone, even to bad credit people. In fact, they want banks to loan money not just to good credit people, but also to bad credit people and to not raise interest rates on them when they get behind on payments. And they want you to continue loaning them money, even after they've borrowed a lot which they have yet to repay. That's why many banks have failed. It's not necessarily bad practices on part of the banks, but rather bad legislation.

  

With an open, free market, banks and credit card issuers can adjust interest rates, fees, etc, according to each individual's worthiness, thus not having to raise interest rates and reduce credit limits on everyone.

  

But a 79.9% interest rate? Is that overboard? Maybe not, afterall it is a preapproved credit card offer. As such, the credit card company is not certain of the recipients credit history without yet pulling a recent credit report. The company could be placing themselves in very high risk. So, since a credit card company cannot raise interest rates on delinquent payers or people with other bad credit records, instead they can charge a high rate to everyone and then perhaps later lower rates on the good credit history cardholders. We're not saying that is what First Premier is doing, but our such a strategy may one day become standard practice if democrats continue trying to control the credit industry. Think about it... have you ever seen any government agency; any at all, that has operated with financial efficiency? The government cannot even control its very own budget.

  

Even if you have bad credit, there are likely people with worse credit than you. Do you want to pay higher interest rates than you should, just because credit card companies cannot raise rates only on those worse credit people? Should you be restricted to a couple hundred dollar credit limit because there are people with worse credit, and the government dictates that the credit card company cannot lower limits on those people? Is this really fair?

  

If you recall back when President Clinton was in office, the nation enjoyed ample credit at great terms. Was this because of Clinton? No, it was because Republicans had control of Congress, which makes the laws. But as democrats gained control and enacted legislations against the credit industry, not only did rates get affected but also banks began to fail. The lesson learned, is that the credit industry should be a self-regulated, free market, of which our capitalistic nation was formed.

  

Tell your legislatures you want credit card companies to compete against each other for your business, not to have to compete against government legislation which causes high rates and low limits... tell them "no government regulation".

 

   

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Credit Card Offers: Free credit card search makes choosing a credit card easy. Browse the most popular, best credit cards at CreditFederal.

Credit troubles? Apply for a pre-approved credit card offer based upon your credit history. Poor and bad credit people can apply for a credit card to rebuild credit or to establish credit. If you have very bad credit, consider bad credit card offers such as a secured credit card like a prepaid Visa, no credit check cards or other types of a guaranteed card.

For very high risk people there are options other than a standard unsecured credit card, such as an online guaranteed platinum card for online store purchases, or possibly even qualify for a charge card or a discount card from retail stores like the WalMart card or the Sears card.

Prepay credit card offers: Apply for a debit card or a bank ATM card.

Rewards credit cards: In addition to perks such as a 0 intro balance transfer, major cards offer other benefits like a travel credit card that rewards free airline miles, a gas card, or family entertainment offers like the Disney credit card, apply for an unsecured platinum credit card.

Credit card interest rates: Some cards offer no interest and a 0 introductory period on purchases. There are also some with a special 0% balance transfer period so you can transfer balances from other cards to your new credit card.

Special credit card offers: Almost every credit card company will offer a spouse joint credit card account. Other special offers include no deposit credit card, business credit card, student credit card and shopping cards like a Christmas credit card. Read the fine print, compare the card benefits, rewards and ratings before you submit an online application.

Credit card company offers, including gold credit card and platinum credit card offers:

Visa credit card, such as the gold Visa card or the platinum Visa credit card.

MasterCard credit card, such as the gold MasterCard or the platinum MasterCard.

American Express card, such as the gold American Express card or the platinum American Express card.

Chase card, such as the platinum Chase card.

Discover card such as the gold Discover card or the platinum Discover card.

Before you apply, review all the credit card facts. Once you get the card right for you, read every credit card statement carefully and request credit card companies to stop credit card mail offers. Browse more credit card resources.

 

  

  

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Personal Finance: How to file bankruptcy plus free bankruptcy forms. Create a household personal budget, balance a checkbook register, track expenses and more.
 

Search our free credit help resources and apply for financial services. The credit crisis may have prompted stricter credit card company and loan lender approval standards, but poor credit people can still find bad credit financing.

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