The recent financial crunch has caused many would be credit issuers to tighten up on approvals for those consumer applicants with less than perfect credit. Even new credit seekers who do not have poor FICO scores, but also have not had the opportunity to establish a good credit profile as of yet are being turned away and treated as high risk applicants.
The problem for people who fall into either of these categories is that they have a legitimate need to either establish or re-establish their good credit profile and raise their FICO score, however without easy access to credit card approvals their ability to accomplish this necessary task is extremely difficult. Ironically, it’s these same card issuers who would like their applicants to have established solid credit histories who will not approve them in the beginning to help them prove that they are worthy of a new card approval. This vicious credit circle affects over half of the households in American today.
A few companies have recently stepped in to fill the credit needs of this growing consumer segment and offer instant online approval credit cards for people with bad credit or no credit history at all. These credit providers will typically issue new credit cards without a credit check and regardless of the applicants past or present credit history. Some of these cards are issued as major brand logo credit cards, prepaid debit cards, secured credit cards and online catalog shopping cards which allow the card holder to purchase household and gift items from the credit grantors web based store.
One such card offered with no credit check is a new Platinum Card that boasts a huge beginning limit of $10,000 for all of its approved applicants, even those with poor credit or no history at all. As long as the applicant is at least 18 years of age and has a valid U.S. checking or savings account, the applicant will be approved. The Platinum Card also features 0 % interest on any unpaid balance and there is no employment verification required for approval. The card does require a minimal initial membership fee, however once the new member is approved, the card issues each user a whopping $2,500 bonus to use towards unpaid balances in addition to the generous starting limit of $10,000.
For consumers who are having trouble getting approved for a traditional credit card with strict income and employment requirements, this particular card for people with bad credit may be a valuable option to acquire a high limit credit card with no credit checks or employment verification.
Managing your finances is a huge task you need to do. By managing your finances properly, you can avoid burning substantial money on something that is really not useful. Managing your finances can also help you make your financial status more stable. With these, you can make your life better.
When it comes to managing your finances, one of the options is to get a credit card. This option provides a lot of benefits to many individuals. For one, yous do not need bring a huge amount of money in your pocket when shopping. This means that you will also feel safer and more secured against theft. But in order to obtain these benefits, you need to first find the best credit card provider that can cater to your needs. Here are some factors you need to know.
Compare interest rates
There are lots of banking institutions that offer credit cards. Therefore, one way of choosing is to compare their interest rates. Interest rates vary depending on the institution you choose. So, it is vital to carefully assess the interest rates of the banking institution before signing a contract.
Balance your salary and credit card
You also need to make sure that your credit card will match your current salary. Balancing your salary to your credit spending is needed to ensure that you have the capacity to pay for your credit card each month. Luckily, there are reputable banking institutions that offer different types of credit card to accommodate your needs and complement your lifestyle.
Evaluate other fees and charges
Other than interest rates, there are other fees and charges you need to deal with when getting a card. When you want to transfer balances, getting a balance transfer card is ideal since it offers a low introductory rate on balance transfers for a period of time. By knowing other charges and fees, you can make better decisions when to make use of cards.
Know more about reward and freebies
Finally, you also need to determine the rewards and freebies the card company can offer such as VIP lounges at airports all over the world, world-class fitness centres, and free concierge services up to free air miles and cash back privileges.
By knowing these factors before getting a credit card, you can be sure that you can choose the best option that can help you make your lifestyle better and more efficient.