Subprime Credit Card
A sub prime card was designed for those with a low credit score. It was created to give people a second chance with their credit history.
Used responsibly these cards will create a positive payment history and improve your ratio of available credit to debt. Frequently these cards are used to repair a damaged score.
These two factors are very important when your score is being calculated. If these two factors are good then you can create a good credit score even with negative items on your credit report.
These cards will report to the major credit bureaus. They will come with an APR around 19% and will have an annual fee. However the benefit of improving your score will offset the high price of a low credit score.
Your credit limit will be approximately $300 and you will be eligible for periodic credit limit increases. However some cards like the Tribute Gold MasterCard do offer a card with a limit of $70 for those with very bad credit.
These cards will help to improve your score more than a secured card. This is because secured cards are reported as a secured account to the bureaus and this will be weighted less than an unsecured account.
It is still important to remove negative marks from your credit history. However it has been learned that after a negative mark ages for four years it has much less impact on your score.
To get the most benefit from your card on your credit we suggest you keep the balance at roughly 20%. This will show the bureau that you do in fact use your credit and that you are using it responsibly.
These cards were designed for those with; collections, judgments, repossessions, bankruptcies, and charge offs on their credit report. Every card does have different approval requirements but will give you an instant decision when you apply.
In sum we do suggest a sub prime credit card for individuals with a damaged credit history. It can be used to help you build positive credit and rebuild your score.
Used responsibly these cards will create a positive payment history and improve your ratio of available credit to debt. Frequently these cards are used to repair a damaged score.
These two factors are very important when your score is being calculated. If these two factors are good then you can create a good credit score even with negative items on your credit report.
These cards will report to the major credit bureaus. They will come with an APR around 19% and will have an annual fee. However the benefit of improving your score will offset the high price of a low credit score.
Your credit limit will be approximately $300 and you will be eligible for periodic credit limit increases. However some cards like the Tribute Gold MasterCard do offer a card with a limit of $70 for those with very bad credit.
These cards will help to improve your score more than a secured card. This is because secured cards are reported as a secured account to the bureaus and this will be weighted less than an unsecured account.
It is still important to remove negative marks from your credit history. However it has been learned that after a negative mark ages for four years it has much less impact on your score.
To get the most benefit from your card on your credit we suggest you keep the balance at roughly 20%. This will show the bureau that you do in fact use your credit and that you are using it responsibly.
These cards were designed for those with; collections, judgments, repossessions, bankruptcies, and charge offs on their credit report. Every card does have different approval requirements but will give you an instant decision when you apply.
In sum we do suggest a sub prime credit card for individuals with a damaged credit history. It can be used to help you build positive credit and rebuild your score.
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For more about bad credit credit cards or for a review of the prepaid Rush Card visit us.
posted by Debt Consolidation Loan at
7:27 AM
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