Adverse_Credit_Credit_Cards by zhucezhao

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									Adverse Credit Credit Cards

Word Count:
455

Summary:
As their very name suggests, adverse credit credit cards are an option
available to those who have a bad credit history and, thus, credit
rating.


Keywords:
credit, cards, adverse, bad, rating, history, check. company, interest,
owe, debts


Article Body:
As their very name suggests, adverse credit credit cards are an option
available to those who have a bad credit history and, thus, credit
rating.

Why you may want to apply

If you do happen to have a bad credit rating, then there is a strong
likelihood that you’ll be successful when applying for one of these
credit cards where you have been turned down when applying to the
mainstream card issuers.

Moreover, if you do have a bad credit rating, then applying for adverse
credit credit cards can help you to re-establish you credit rating
quicker – provided, of course, that you manage the card correctly and pay
your bills on time!

How to apply

You can apply either Online or in the more traditional method of sending
off an application form. Normally it will take a couple of days for the
issuer to decide your creditworthiness. Having said that, provided your
credit rating is not totally destroyed you should be successful in your
application.

What will the credit limit be

Don’t get too excited, although, like all mainstream cards, there is no
set card limit, depending instead on your ability to repay the limit
balance that may be outstanding, one of the ways in which adverse credit
credit card issuers limit their exposure is to set the card limit below
that which you may otherwise have received with a successful application
to a mainstream issuer. That said, provided you keep a clean record and
pay all of your bills in a timely manner, there is no reason why your
limit should not go up over time as you build trust between you and the
provider.
What’s the interest rate

Along with the credit limit, the interest rate is one of the factors that
puts most people off applying for this type of card. In most cases the
APR is higher than that offered by competing cards and if you were merely
comparing credit cards then it would look unattractive. Nonetheless, the
best interest rate offered by the card is the same as that with any other
card – 0%. So, if you pay off the balance in full each month, and with
the lower limit this should be easier to do, the card will cost you
nothing, while at the same time helping to rehabilitate your credit
rating and history.

Adverse credit credit cards are an easily affordable option of getting
your financial health back on track. It is important, however, that you
try and repay as much of the balance as you can possibly repay each month
and that you never fail to miss a repayment date – otherwise this type of
card can very quickly turn into an expensive and bad experience!

								
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