Tips To Consider When Selecting Guaranteed Approval Credit Cards BY: www.newhorizon.org
If you are in bad credit situation, you may have a hard time trying to find a loan. If you find a lender who will give you one, the interest rate charges will be high.
Do not lose hope yet. You can improve your credit with guaranteed approval credit cards.
Typically, guaranteed approval credit cards are of two types: 1. Secured Credit Cards 2. Catalog Credit Cards
Secured credit cards ● You have to put down a security deposit on these accounts. ● As long as you are willing to pay the deposits, most organizations will accept you. ● Secured credit cards are flexible and also do not charge expensive fees. ● If you manage to pay your balances on time, they can last up to two years before they become unsecured.
Catalogs That Offer Credit ● With these cards, you can buy items through the issuer’s catalog. ● Also, you can get a high credit limit.
Consider these tips when selecting a guaranteed approval credit card
Monitor the fees. Guaranteed approval credit cards vary. Just because a company is offering instant approvals, it does not mean you should sign up with them.
Rebuild your credit history with guaranteed approval credit cards. You can re-establish your credit rating with these cards. For you to build your poor credit rating, ensure the card you pick reports to one of the three credit bureaus.
Check that the card does not carry unreasonable costs. It is nice to search for low-interest rates but try not to go for cards with exorbitant charges.
Read your contract carefully before signing. Always read the terms and conditions. No matter how lengthy the document may seem, take your time to read it.
For more information about Guaranteed Approval Credit Cards visit www.newhorizon.org/credit-info/
RESOURCES: Catalog Credit Cards https://www.newhorizon.org/Info/catalog-credit-cards.htm Secured Credit Cards - https://www.newhorizon.org/Info/securedcc.htm