Credit cards for people with poor credit are a great way to rebuild your credit.
With a rising number of people experiencing credit woes, where are they to turn for a credit card? In the past it was difficult to qualify for a reasonable credit card offer with a poor credit rating. Most people with a low credit rating were stuck with a secured credit card, which requires a deposit for use, or a card that had a very high variable interest rate associated with it. Neither of these options are ideal. But in today’s world there are actually poor credit credit cards designed for these specific users that offer reasonable deals. Not only are these deals getting better, but they can also be a good way to start rebuilding a positive credit history.
Poor credit credit cards are specifically designed for users with a low credit score. Issuers are becoming increasingly aware that people deserve a second chance and designed these cards to provide that chance. By obtaining a poor credit credit card, users are taking the first step towards fixing their credit woes. These cards offer the benefit of reporting the cardholder’s payment history to the credit bureaus. This is a rare feature because most cards only report negative information or charge a fee to report positive information to the bureaus.
There are plenty of offers available for people with poor credit these days. Many of these cards offer a reasonably low interest rate, but they generally have an annual fee and application fee associated with them. These fees can vary from card to card, so it is important to look carefully at all offers.
While using a poor credit credit card can assist users in repairing their credit rating, the essential thing to remember is to use the card responsibly. If someone decides to apply for a poor credit credit card, they must make sure to make their payments on time to avoid damaging their credit even more. If they continue to miss payments or make them late, they will only further hurt their credit rating. The ideal way to utilize the credit card is to make a few small purchases with the card each month. For example, some people will use the card to pay a set amount of bills each month, such as their cable and phone bill. The key is to always pay this balance off in full at the end of each month. This shows the credit card issuer they are capable of using the card responsibly by paying off the balance when it is due. It is also important to remember that improving one’s credit rating does not happen overnight. The process takes time and requires continued action.
What is Two Cycle Billing?
The term “two cycle billing” may not be common knowledge to all credit card users, but it is a concept that everyone should be aware of. Some issuers have been moving away from the average daily billing cycle and changing over to the two cycle way of calculating the interest earned on balances. Two cycle billing does not greatly affect users that tend the carry a balance, but it does however affect cardholders that pay there balance off monthly.Low Interest Rate Credit Cards
Review the Pulaski Bank Visa / MasterCard and the Bank of America Rewards American Express Card. Both of these cards feature an outstanding low interest rate that everyone can take advantage of.Hilton HHonors Platinum Credit Card Review
Learn about the advantages for owning a hotel rewards credit card and read a review of the Hilton HHonors Platinum Credit Card from American Express. This credit card allows you to earn rewards on all of your Hilton stays.