Small Business Credit Cards For Bad Credit

If you're a business owner or you want to open up a business in the future, you may find it tough to get a credit card or even a loan with bad credit. This alone can steer people clear of reaching their dreams of opening up their own business. What most people don't realize is that nothing should be able to stop you. Whether you have bad or good credit, there are always ways around things and let me show you how it can be done.

The first thing I want you to realize is that if you want to open up a business, you have to have a positive attitude and you have to think of alternatives for everything. If you're going to give up before you even start, maybe you shouldn't even open up a business. Do you get what I mean? Look at the popular business owners of today. Do you think they just started at the top? Absolutely not!

When it comes down to bad credit, I would recommend you look at loans and credit cards. Yes, you're going to see a higher interest rate but as long as you pay these off in full on time, you shouldn't have anything to worry about. There are many options out there and if all else fails, ask friends and family. You never know who's going to lend to you. If you take Amazon for example, the founder Jeff Bezos, asked his Mom and Dad for money to start that business up and look where it's at today.

Find small business credit cards for bad credit for your business today all at www.findbizcards.com, where you can even find more of Tom's work.

Credit Cards For Bad Credit Unsecured

During these difficult economic times, many of us are struggling with our finances and need to turn to options like unsecured credit cards for bad credit. Having a bad credit rating means that you are less likely to be able to get a regular card from issuers, and other issuers may include many hidden fees to make it even harder. Fortunately, many reputable financial institutions are willing to help people with bad credit.

An unsecured credit card means that you will be benefiting from all the features of a regular card without the need to provide security. Whilst it is true that many issuers will only provide unsecured credit to those who prove themselves in a finances and debts check, they are still offered to people with bad debts. Check all the rates, terms and conditions before you sign up.

When you start your search for unsecured credit cards, bear in mind that the interest rates on these cards are higher than with secured cards. This is due to the fact that people with a lot of debt are generally more risky to the lender, so make sure you make regular payments or you could find yourself borrowing more than you can afford to pay back your debt. Missing your monthly payments will only make your credit score worse, but if you are diligent you could find your rating improving in no time at all.

Many of us will see our credit rating fall at some stage or other, at times due to factors outside of our control. But this doesn't mean that your options should be limited, so start shopping around and you will find many issuers of unsecured credit cards for people with bad credit.

Unsecured Credit Cards For People With Bad Credit

Working Towards Unsecured Credit Cards For People With Bad Credit

I have personally struggled with my credit in the past and want to help people with bad credit to understand how to overcome this difficulty. I now have excellent credit and you can too.

Getting unsecured credit cards with bad credit is extremely hard in today’s climate. Banks are in trouble right now. My credit card company used to increase my available credit limit almost every month. They won’t do it anymore because like most banks, they are struggling. This affects people that don’t have cards because it’s slightly harder to get approved. I pay off my card in full each month, have a 770 credit score, and make more than $12,000 per month. I guess they want to give their credit to people who are more qualified. :)

Since credit is a little harder to come by than it was a few months ago, I want to teach you how to play the game. Getting unsecured credit cards for bad credit isn’t the same game it was in the past. It’s something you’ll have to work towards, starting today.

The best shot you have is at your current bank – the bank where you have your current checking account. Step one is to go to your bank and apply for a credit card. If you don’t get approved, I have more options for you. I they tell you that they’ll notify you by mail that means you weren’t approved and you can move on to step 2.

Get A Secured Card First

If you didn’t succeed at your bank, you need to get a secured credit card today. Don’t waste time because with credit, every day counts. The sooner you can open up a credit line, the sooner you’ll be able to get a regular, unsecured line of credit.

When I took out my first secured credit card, I had a FICO score of under 500. Getting my card cost about $400 because I had to put down a deposit of $300 and pay a fee of $100. That card was one of the smartest decisions I ever made. My limit was $300 (the amount of my deposit).

I paid that card off every single month and in a few short months, I started getting offers for legit, unsecured cards in the mail. I took out a few of those cards and the rest is history. It’s been a few years now but my credit score is now almost 800. I took control of my situation and can now get any loans I want, at the best interest rates out there.


Additional information:
FICO stands for Fair Isaac Corporation, which is the company that created the industry standard credit scores used by almost all lenders. FICO has been in business since the 1950s but began building the famous FICO score in the mid 1980s.

A “FICO score" is simply a numeric summary of the information in your credit reports that represents your potential credit risk. These scores are delivered to lenders when they purchase your credit reports and review your application. A higher FICO score means that you are a lower credit risk and you will probably be approved at better rates and terms than if your FICO score is lower. If you have low scores, you could be approved with less attractive interest rates or be declined all together.

The highest FICO score you can get is 850 and the lowest is 300. The vast majority of the U.S. population scores between 500 and 799. It is very uncommon to have a credit score over 800. Anything over 750 is considered an excellent score.

Unsecured Credit Cards For Bad Credit

Find Unsecured Credit Cards For People With Bad Credit

If you need money fast but don't have good credit, you might want to try unsecured credit cards for people with bad credit. These unsecured credit card offers are very easy to get approved for regardless of your past credit history, are very flexible and often can approve your application quickly. That being said there are secrets of unsecured credit cards for people with bad credit that you should know if you want to avoid unnecessary costs and fees.

Unsecured credit cards for people with bad credit are saddled with higher interest rates and additional costs than you would otherwise expect from a traditional credit card offer. After the recent credit crisis, this understanding of additional costs for troubled credit is even more true than before. That being said, we sometimes find ourselves in need of additional credit for emergencies or to help rebuild your credit by establishing a responsible payment history after any personal finance disasters.

Prepaid credit cards are easier to get approved for but will not extend credit without deposit funds for collateral. These secured credit cards will then not meet our credit requirements, but not to worry there are many bad credit programs available that offer unsecured credit. Let's delve into how to find the programs that offer unsecured credit cards for people with bad credit.

The key to finding the best rewards when looking for a new credit line is to compare multiple offers. I cannot stress how important this is in your credit line search online. Try not to fall into the common trap that consumers most often find themselves by accepting the first application that you get approved. Use the power of the internet to apply for multiple offers and compare your notes for the various offers.

This is essential for a couple reasons and is the true secret of bad credit cards. Let me explain. Unsecured credit cards for people with bad credit make their money with fees and costs both on the front end and the back end of your financing term. This is not as common for good credit offers that are competing more directly for your safe loan so you might be surprised with some of the methods the bad credit cards charge fees. Unsecured credit lines can have annual fees, high interest rates, up front deposit amounts, low credit line limits and many missed payment fees. These missed payment fees are their bread and butter and you would be wise to read carefully what you are agreeing to.

In summary, the best approach is to use the unsecured bad credit card game they play against them. In most cases they expect you to miss payments, have trouble with on time payments, and not meet the stated terms of your credit agreement. With discipline, and a sound personal finance approach you can acquire the credit you need and avoid the fees and penalties that truly make these unsecured credit lines costly.

Ariel Pryor is owner www.reallybadcreditoffers.com and He is a consumer credit expert who helps people with Bad Credit to find financing with loans and or credit card offers despite their credit history.

Cash Advance Interest on Credit Cards

Things You Need to Know About Cash Advance Interest Rates

As a credit card holder you are very much aware that credit card interest rates are the basis for how much you will end up paying for your debts. On the other hand, you are probably aware that balance transfer rates are different from your normal purchase interest rates and these balance transfer rates can help in saving on interests, especially if you are going to transfer your balance to a new credit card.

More about cash advance rates:

If you are going to use your credit card in order to obtain instant cash, then you will be using a cash advance feature wherein the interest rate is actually the APR or annual percentage rate. There are some cases where this rate can be as low as the purchase rate, but usually, most of the cash advance rates are higher.

The importance of knowing about cash advance rates:

There are a lot of reasons why you need to know how cash advance rates work before you are going to submit a credit card application. Here are some of the reasons:

1. A cash advance rate applies not only to ATM withdrawals. In general, you will be charged with cash advance rates when you are going to use your credit card for paying bills and purchasing traveler’s cheques.
2. Balance transfers might be affected by cash advance rates. Policies would usually vary from one credit card company to another. Some companies will charge you a cash advance rate if you are going to transfer your balances, those that are not paid during the introductory period (i.e. your existing credit card debt.)
3. There are no interest free days with cash advances. The 55 interest free days that are applicable to regular purchase rates are usually not applicable to cash advance rates. This simply means that a cash advance interest rate would immediately apply as soon as you have withdrawn cash.

Typically cash advance rates are not noticed by credit card applicants. People usually look for APR rates , card fees and other bonus features and entirely forget to check the cash advance rate in the process. Before you are going to submit your application for a credit card, make sure that you carefully read the terms first.

If you are interested in using a credit card for cash advances, you should think twice. Cash advances should really only be used for emergencies.

Best Credit Cards For Bad Credit

These 7 best credit cards for bad credit are the superheroes of the banking world, say industry experts, providing low fees and sane rates to people trying to build or repair their credit.

1. Orchard Bank credit card

Orchard Bank, part of megabank HSBC, offers three credit cards plus a secured card for consumers needing to rebuild their credit. You simply apply and the bank decides which card you qualify for based on your credit worthiness.

The unsecured cards come with annual fees ranging from $39 to $59, depending on credit history, and APRs range from 14.9% to 19.9%, also based on your credit.

To put that in perspective, a credit card like the Applied Bank Unsecured Visa Gold - which also targets consumers with poor credit -- comes with a 29.99% APR for all customers.

If your credit history is really bad, you will likely end up with a secured card. These work like a regular credit card, but you put down a deposit of your own money. (That's why their interest rates are typically lower than those of regular unsecured credit cards.)

But even if you only qualify for a secured Orchard Bank card, it isn't a rotten deal. You have to make a $200 minimum security deposit - which is refundable and typical for secured cards -- but the APR is a low 7.90% and the annual fee is $35 and is waived the first year.

"I like these [Orchard Bank] cards because let's say you're on the bubble between bad and poor credit, you might be able to get a better deal with one of these cards," said Beverly Harzog, credit card expert at Credit.com. "Even if you do have really bad credit, this is one of the easiest unsecured cards to get, and if you don't qualify then see if you like the terms of the secured card."

2. Capital One Secured MasterCard

The annual fee on this secured card is a reasonable $29, and while most secured cards require security deposits of around $250, you can deposit as little as $49 and still get a credit line of $200. If you deposit more -- like $99 or $200 -- you can increase your credit line up to $3,000.

"It's more of a secured card than an unsecured card, but it's both, which is very nice," said Curtis Arnold, founder of CardRatings.com. "And some people just don't have 200 bucks to put down as a deposit, so only having to put $49 down is great."

In addition, there are no foreign transaction fees - which is true for all of the bank's debit and credit cards. And the card reports to the three major credit bureaus.

But if you carry this card you should vow never, ever to carry a balance because the APR is a high 22.9%.

3. Navy Federal 'n Rewards Secured Card

If you have a military connection, the Navy Federal Secured Card is one of the best options for people with poor credit.

The card, issued by Navy Federal Credit Union, comes with an APR as low as 8.99% and no annual fee. Cardholders also earn a point for every dollar they spend, which they can then redeem on merchandise or gift cards.

The card reports to the three main credit bureaus, and after 12 months, you can be switched to an unsecured card.

"I realize not everyone can apply for this, but the terms are really good and there are a lot of people who have military ties and can become a member of NFCU," said John Ulzheimer, personal finance expert at SmartCredit.com.

4. Citi Secured MasterCard

While most secured cards require you to make a deposit that the issuers hold onto in a no-interest savings account, the Citi Secured MasterCard invests your deposit in CDs. Plus, there's a pretty low $29 annual fee and no monthly maintenance fees.

There is, however, an 18.24% APR. So if you plan to carry a balance, choose another card with a lower APR.

"Normally I would never recommend a card with an interest rate that high, but if someone is using it to just rebuild credit and not carrying a balance, you get to invest your money in a CD so you're getting something back," said Beverly Harzog, credit card expert at Credit.com.

In addition, while you could be stuck with other secured cards for years, Citi will consider graduating you to a better, unsecured card after 18 months.

5. Mango Prepaid MasterCard

Personal finance experts typically warn consumers against prepaid cards because of their unreasonably high fees. But the Mango Prepaid MasterCard is one of the exceptions, carrying some of the lowest fees in the industry.

While secured cards typically require you to put down a refundable deposit to use the card like a credit card, prepaid cards are simply loaded with your own money. You don't pay interest on these cards, but they also don't report to credit bureaus.

That means prepaid cards are best for consumers who aren't necessarily concerned about building their credit.

"Prepaid cards are good for someone who has no bank account, doesn't have money for a deposit, or isn't ready for a credit card," said Beverly Harzog, credit card expert at Credit.com. "It's important not to step back into the credit card game if you're not ready to control your spending."

Unlike most prepaid cards, the Mango card doesn't have an activation fee, and the card actually comes with a $20 signup bonus when you enroll in free direct deposit. There's no charge for customer service calls, and it's free to load your card with money from your bank account.

Compare that to a prepaid card like the BabyPhat Rush Card, which costs $14.95 just to own and charges $9.95 per month, along with $1 per transaction depending on the plan you choose.

But ATM-frequenters, beware: Like most prepaid cards, the Mango card charges you $2 for ATM withdrawals, and it costs you 50 cents to check your balance.

6. Capital One Cash Rewards for Newcomers

This is a credit card aimed at people who are new to the U.S., but anyone looking to build their credit can apply and be approved for the card.

While the APR is a relatively high 24.9%, there's no annual fee, no foreign transaction fee, and the card offers 2% cash back on travel purchases and 1% cash back on all other purchases.

You can get that cash back any time, as an account credit or check - or you can set up automatic redemption. The card also reports to the three major credit bureaus.

"If someone is new to the States, understands how credit works here and knows not to carry a balance, this could help them establish credit and they could get cashback rewards at the same time -- which is rare for a card like this," said Beverly Harzog, credit card expert at Credit.com.

7. Open Sky Secured Visa Card

The Open Sky Secured Visa Card boasts a low interest rate and requires a typical deposit of $200 to get a credit line of up to $3,000.

The APR on the card is 9.75%, which is pretty much as good as it gets for consumers with lousy credit. In fact, the average APR on a typical unsecured credit card is just above 14%, according to LowCards.com.

The issuer, Public Savings, says it will accept anyone -- there's no credit check for approval. Plus, they report to all three major credit bureaus to help you build your credit.

The one drawback: an annual fee of $50. But this is one of the only fees cardholders will be hit with. Another is the $25 charge to increase or decrease your credit limit after a year, but this can be avoided if you plan ahead and get the credit limit you need when you sign up.

"So many other cards nail you with tons of extra fees that you don't even know about, but this one is really just that $50 right up front," said Bill Hardekopf, credit card expert and CEO of LowCards.com.

Credit Cards For People With Bad Credit

Credit Cards for People with Bad Credit - Where To Start?

How can you get credit cards for people with bad credit? Well, a great place to start is right here on this vast expanse we call the internet. The internet is full of many different offers for credit cards for people with bad credit, that you should have no real problems in finding them. Just visit your favorite search engine, such as Google or Yahoo and type in the keywords "Credit Cards for People with Bad Credit", you will be surprised at how many result you come up with.

After that, the choice is yours as to which credit cards for people with bad credit you will choose to apply for. Here are a few things to keep in mind when deciding which credit card you should choose:

Interest Rates

While it is true you will have to pay higher rates interest than someone with great credit, it does not mean you will have to take the most expensive one. Shop around and look for credit cards for people with bad credit with an interest rate that appeals to you or that you can afford. There is really no point in getting a credit card that has an outlandish finance charge that you would not be able to afford.

Opportunities

While looking for credit cards for people with bad credit, make sure you choose a card that offers you opportunities or rewards for improving your credit rating or paying your bill on time. Some credit cards for people with bad credit might offer a grace period in which if you pay your balance in full, you will not be accessed the finance charge, which will save you a great deal of money.

Another credit card might offer that if you pay the minimum payment on time each month for some many months, they might drop your rate of interested. Many will offer to decrease your interest rate and increase your credit line if you improve your score or make all payments on time for a specific period of time. Most credit cards for people with bad credit companies review your credit report every six months to a year, if you are showing improvement, you may find yourself back on the right financial road.

The author Blake Hendrickson is owner/operator of several financial sites including sites specializing in bad credit credit cards. Visit his website at www.americaschoicecredit.com for more information about credit cards for people with bad credit.

Secure Credit Cards For Bad Credit

Secure Credit Cards for Improving Bad Credit

No need to be ashamed of yourself if you should have bad credit. In these dire economic times, bad credit is the new pink. However, this is not the time to be complacent! It’s time to rebuild your credit because credit is one of your most important assets. The good news is that there is no such thing as permanent bad credit.

Just what are secure credit cards?

Secure credit cards are a good option if you have poor or bad credit. They’re cards targeted towards people with bad credit that are good for building positive credit. Some cards require annual fees. Some require money deposits to generate a credit line. Some check your credit first.

Many with bad credit resort to using cash only, but these payments go unreported to your credit agencies, keeping your credit in poor standing. Thus, it’s wise to seriously consider a secure credit card.

All secure credit cards are not created equal. As with credit cards, it’s important to compare the offers. There’s also some things to keep in mind when choosing the best card for you:

• Credit Bureau Reporting: Make sure they report to all 3 credit bureaus. Use a card that doesn’t report to the bureaus as a secure credit card as that may reflect poorly on your credit score.
• Deposits & Credit Lines: Some credit cards offer lines that are only going to be as large as your deposits. Compare the terms for credit. It’s not about obtaining large amounts of credit but establishing good credit.
• APRs: The lower amounts of interest, the better. If there’s an intro 0% APR period, then that’s even better, considering it’s a secured credit card.
• Credit Checks: This may not necessarily be a bad thing. However, if your have poor credit, an inquiry may affect it in a negative way. Some offers boast that they do not check your credit, whilst some do. Just be aware!
• Compare: Compare, compare, compare. Check out Bankrate.com to compare secure credit card offerings.

Unsecured Credit Cards For Bad Credit Instant Approval

Even hotel reservations and plane tickets are now reserved on-line where a card is necessary in order to make the reservations successful. However, having bad score or lack of credit may give you a hard time obtaining a card. The good news is there are cards that are designed especially for people who are in tight situations such as those described previously. Card issuers have designed this card to have higher rates and some are with additional fees but they are meant to give an opportunity for people to build or improve their score.

One option when applying for a card is to take secured cards. These types of cards are not particular to history. The reason for this is that you are required a security deposit of an amount usually between $100 and $500 before you are allowed to make any purchase with your new line. This security deposit determines your limit. The best thing about this is that if you encounter problems with regards to paying your bill, the deposit will cover your obligation so that your debt is secured.

Having a secured card does not appear like a real line of credit but it does help you establish or rebuild your history because all your activities concerning credit will be reported to the three major bureaus. Some other advantages of having secured cards include: 1. up to 4.5% of the interest may be paid on the deposit; 2. merchants give high regard for cards that have MasterCard or Visa logo on them; 3. some issuers give you double the amount deposited as your limit; and 4. if you've proven your ability to handle your monthly bill, your limit may be increased minus the additional charges.

Your second option is to apply for unsecured cards. This type of card does not require a security deposit and the limit and interest rate are dependent on your history. If you have poor or no history then you will most likely not land an unsecured card. There are cards that are instantly approved through on-line application where no security deposit is required. However, higher interest rates and some additional fees will be asked from you.

Now, if you have bad credit or none at all what you can do is to try the unsecured card first. If your application gets approved, not only will you have avoided shelling out for security deposit but you will also have a "true" line of credit. If you are denied an unsecured card, most issuers will give you the option to apply for a secured line. It is best if you try for an unsecured line before agreeing to take a secured line. That is, you take the latter if there is no other option left to take.

Visit www.credit-land.com for more information about unsecured credit cards for bad credit instant approval. Instant credit cards that are unsecured can be applied for on-line in order to get an instant approval credit card in 60 seconds or so. Taking an unsecured instant credit card first is best for those without any credit or for those who have bad credit.

Balance Transfer Credit Cards For Bad Credit

Understanding Balance Transfer Credit Cards for Bad Credit

Balance transfer credit cards for bad credit made it possible for a cardholder to transfer balances from high interest (APR or annual percentage rate) cards to 0% introductory APR cards. This in turn gave the cardholder the chance to reduce the debt burden since the money, that was paid in lieu of interest, could be used to reduce the balance on the new credit card. Credit card companies allowed this practice on account of the following reasons:

• Credit card companies could charge a balance transfer fee for allowing the cardholders the privilege of transferring the balance to a low or zero percent APR card.
• Low or no interest rate feature was not permanent and it eventually made way for higher interest rates.
• If consumers had balances that bore different interest rates, payments in excess of the minimum amount could be applied first to the balance with the lowest interest rate.
• Interest rates could be hiked by the credit card company without giving prior notice to the consumer.
• The credit card company could apply the principle of universal default and increase the APR on the credit card if the consumer defaulted on other payments.

It's evident that allowing credit cards for balance transfers (for bad credit consumers) benefited the credit card companies in more ways than one. However, today consumers cannot hope to procure balance transfer credit cards, for reducing credit card debt, with the same ease because of the following reasons.

Are Balance Transfer Credit Cards Still an Option?

Credit Cardholders' Bill of Rights was signed onto law in May 2009. Although, most changes will be enforced from 22 February 2010, the first provision of this law came into force on August 20, 2009. The new credit card law has curtailed the freedom of credit card companies in more ways than one.

• As per the new law promotional offers, like low or 0% APR that encourage balance transfers, have to last for a minimum period of 6 months.
• Excess payment made by the consumer have to be applied towards balances with higher interest rates prior to reducing balances that carry a relatively low rate of interest.
• The principle of universal default is no longer applicable.
• The credit card company has to give 45-day notice before hiking the interest rate on the card.
• Consumers have the right to opt out of increases (stop using their cards), on account of an interest rate hike provided the hike was not triggered due to the following reasons: The consumers delayed payment, that was due, by more than 60 days or the card was a variable rate credit card.

Since, credit card companies can no longer increase the rate of interest on the cards, they may end up offering balance transfer cards with zero/low APR only to consumers with good credit rating. They may also increase the set-up fees and the annual fees for people with bad credit. This is because credit worthiness and absence of annual fee go hand in hand.

The article, ''Are There Credit Cards For Bad Credit With No Fees?'', deals with the different types of credit card fees and the consequences of the new legislation in great detail. It's evident that the new law will usher in an era when balance transfer credit cards for bad credit consumers will become a rarity.

Credit Cards For Those With Bad Credit

People with bad credit have the fewest options for credit cards. That's because few credit card issuers want to take the risk of loaning a credit card they might not get paid for. Though it may be harder, you can get a credit card with bad credit.

Credit Cards for Those With Bad Credit

There are some credit cards aimed specifically at people who have bad credit. For example, the Capital One Classic Platinum approves applicants with credit scores as low as 577 according to CreditKarma.com. The card has a 19.8% regular APR and $39 annual fee. You may be able to get the annual fee waived if you ask.

Orchard Bank also offers credit cards to borrowers with poor credit scores. When you apply, the bank checks your credit history to decide whether you give you a secured or unsecured credit card. This initial check is a soft pull and doesn't hurt your credit score. Reviewers with credit scores as low as 550 have been approved for the unsecured version of this credit card which has a regular APR between 14.9% and 28.9%. The Orchard Bank credit card does come with an annual fee and upfront processing fee that vary based on your credit history.

Retail stores have a reputation for approving applicants who have bad credit. You have a better chance getting approved for a limited purpose credit card that can only be used at that store rather than a credit card backed by Visa or MasterCard.

Secured Credit Cards

Too many borrowers dismiss secured credit cards because the cards require a security deposit to be made against the credit limit. A secured credit card that reports to the major bureaus is better than having no credit card at all. Many secured credit cards can be converted to unsecured credit cards after a year of on-time payments.

If it's the security deposit that's keeping you from getting a secured credit card, start putting $50 in a savings account each month. In six months, you'll have $300 to put toward a credit secured credit card. Some of the money can be used to take care of the application fee and the rest can be put toward your credit card balance. Yes, you'll have a low credit limit starting out, but that's true of unsecured credit cards for bad credit, too.

What to Watch Out For

Beware of fee harvester, or subprime credit cards, that charge high upfront fees which take up up most of your credit limit. Though Federal law limits the amount of fees to 25% of the credit limit, at least one subprime credit card issuer has gotten around the law by assessing a $90 fee before the credit card is ever issued. The First Premier Bank Gold MasterCard is an example of a credit card to stay away from.

Prepaid cards are often advertised as an option for people with bad credit, but these aren't really credit cards. Prepaid cards require you to make a deposit before you can use it to make purchases. But unlike secured credit cards, your prepaid card purchases are deducted from your balance. Prepaid cards don't improve your credit either, because they don't report to the major credit bureaus. (They can't since they're not a credit product.)

Store Credit Cards For Bad Credit

Store credit cards for bad credit can be a great way of rebuilding your score, or even building it for the first time. These kinds of cards are developed by individual retail stores and are available to use on all purchases at that store. These kinds of cards can come with many benefits, especially when it comes to improving your credit score.

The fact is that it is a lot easier to get approved for a retail card that it is for a traditional credit card, usually because the balance is low and there is therefore less of a risk for the lender. Most work in the same way as a traditional credit cards, but some can only be used in the individual store. The second type are offered to people with bad credit and while this may seem inconvenient, it can be a temporary solution while you try to your credit rating.

Like any credit card, store credit cards will charge you interest when you miss your payments or don't pay off the full balance. However, you should try to make all payments on time due to the fact that interest rates can be high. Paying on time will also prove you can manage your payments and will improve your score quickly.

There are both disadvantages and benefits to store credit cards for bad credit. When you sign up, try to do so for a store you would shop at normally - but do not buy things you don't need simply because you have available credit. You may find that the card even comes with added benefits including discounts, rewards programs and specials offers. Your ultimate goal should always be, however, to make your payments on time and to build your score as soon as possible.

Visit the authors credit card website at www.topcreditcardsonline.com to find and compare the best store credit cards for bad credit.