What do you do if you are currently unemployed or experienced credit problems in the past?Option are available to get you in a position where you can play the bank's game again. This time with some clout. By taking a look at the following steps you will be far ahead of the other people in your position.
Prepaid credit cards
Damage that has been done to your credit in the past can be reversed with some simple planning. Prepaid cards are also good for the young, looking to establish their credit.Use the credit card for shopping to increase your credit score with time.
What are some of the main benefits of this type of card?It allows you can set money aside for pressing emergencies without qualification headaches. This type works just like any other credit card, use it for online purchases as well as local stores. Grabbing cash when you need it from a ATM machine is also possible.
What do I need to do?
The only requirement is simply to fill in a short form which really isn't an application at all since instant approval is generally guaranteed.
How much do I need to deposit?
It varies from card to card. A good ballpark figure is $300-$500. The credit limit is either based on the amount you put in or on a higher amount with borrowing options.
Do all banks offer secured credit cards?
The big banks tend to stay away from these cards because there isn't that much money in it for them.Instead, financial companies offer prepaid cards. At major banks, the trend is moving away from secured cards and shifting towards unsecured cards with lower limits and higher interest rates and fees.
Where can I get a prepaid credit card?
There is a multitude to choose from but only a handful of them are any good. Do your research and beware of cards with hidden charges.
Choose from top rated cards at No Credit Check Credit Cards.
Article Source: http://www.articlealley.com/http://lonniehaney.articlealley.com/no-credit-check-credit-card--the-facts-1230642.html
Secured Cards question; Citibank vs Orchard !?
Hi
I am a student and I am starting to build my own credit line. I know that I couldn't get a unsecured credit card. I had applied for bank of America secured card. I was denied for having too many credit inquiry in my file. I did ask Verizon to break my phone away from family account before that, but when Verizon asked for $120 dollar for security, I decided to get a secured credit card instead and back down. Before BoA returned my denied letter, I got credit card offer from Capital One and I applied for it since I am applying for one.
Now, Capital One denied me online after two letter, last one saying that they reviewed my credit score and approved Capital one platinum MasterCard. I went in their site and used their approval code and all that.
Now that I have too many credit inquiry on my file, I am afraid to try out for more. After doing a little research online , I found out that some of the instant approval secured credit companies such as millennium one and applied banks are ripped off. I decided to try my luck with Citibank and Orchard bank secured card.
My question is , I need to know which bank would be more flexible to my credit inquiry status, and which of the two has better reputation?
I promised to reward 10 point for best answer.
Thanks you all in advance.
Answer
The one that may help you is Orchard but then they have a terrible reputation if you default on them.
I do not think you will have a chance with Citi.
Orchard has a pre selector website that lets you know you qualify for certain cards and they do not hit you with any inquiries unless you submit the actual app.
This would be the way to go.
https://www.hsbcapply.com/start/orchardbank
If they state you do not qualify and do not hit the submit button. If they state they can offer you something go for it.
comments section.
Posted in 
Tags: 