Sabtu, 10 Maret 2012

Starter Credit Cards For Bad Credit

Starter Credit Cards to Help Rebuild Credit

Many people are looking to start over after a bankruptcy or a failure to pay back debtors. While you can't erase the past at least not until credit problems expire from your credit history you can rebuild your credit with a secured credit card. Secured cards require you to pay a deposit to open the account. On-time payments help you build a positive credit history despite mistakes made in the past.

Unitus Community Credit Union

Unitus Community Credit Union offers a secured Visa card for those who have a poor credit history. You must have a savings account with Unitus, as this card is secured by funds in your account. You must have 1.5 times your credit limit in your savings account to use the card. For example, if you have $600 in savings, you will have a credit limit of $450. After 12 months of consecutive on-time payments, this card converts to a standard credit card. There are no annual fees or over-limit fees with this card; late fees are $20 per month.

unitusccu.com

Orchard Bank

Orchard Bank offers a secured Mastercard. You pay $200 at the time of application to secure the card. You also have to pay a $35 fee each year to Orchard Bank, starting with your second year of service. You can get up to $200 worth of credit from your deposit, although the credit limit can be raised once a year. Orchard Bank offers a variety of customized alerts online, by text or by phone to help you manage your account and keep track of your spending.

orchardbank.com

Capital One Secured Mastercard

Capital One allows you to secure a credit card with $200 or more. Your credit limit is equivalent to the amount of money you pay for the card. Capital One accepts security deposits of up to $3,000, according to their website.You may send in more money over time if you wish to increase your credit limit. If you pay on time for 12 months, you may be eligible for a credit increase without having to pay an extra deposit. Capital One charges an annual fee of $24.

capitalone.com

Tidak ada komentar:

Poskan Komentar