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Ever found yourself in a financial dilemma and you feel like you are never going to recover? You are not the only one with poor credit ratings. That is when you find out that credit card can do wonders. It probably is a credit card that put you into this mess, and that is why, it can also save you. If you decide to take control over your financial future, you can raise your credit ratings by getting a credit card. How? You probably have tried and failed. You even have resorted to getting a prepaid card. Know this. Prepaid cards can only do so much as long as you have funds in the card. And these cards do not raise your credit ratings unlike credit cards do. There are several types of credit card and there is definitely a company that can give you that second chance you need. You need unsecured credit cards for bad credit. This type of credit card is catered to people with low credit ratings. However, this credit card often comes with fees. What is the difference between secured and unsecured credit cards? - Secured credit cards are credit cards issued by a company or bank to people with poor credit ratings provided you give some kind of security like bank deposit. Issuers will give you a credit limit / credit line of up to 100 percent of your secured amount. - Unsecured credit cards however do not ask for security deposit and also issued for people with poor credit score or no credit score. Unsecured credit cards for bad credits are issued by credit card companies carrying a risk, issuing you a card basing simply on the promise that you will pay them. Also, when choosing a credit card, you need to be aware of the fees you are paying. Fees such as: - Interest rates. Credit card companies get their income from the interest rates. Choose one with the lowest interest rates. - Annual fees. Annual fees vary depending on a company and the card issued. It can also be based on your credit ratings. - Fees on balance transfer. Issuers can charge monthly or a one-time fee for balance transfers. There is also a 0 balance transfer credit card. It means you can transfer your credit card debt from one card to another without charge. You can save so much with this feature. - Processing fee. It can be one-time or monthly. This often seems to be more like an annual fee which is distributed monthly. It can be frustrating to have a poor credit score but credit card companies are sometimes lenient, even the reputable ones. These credit card companies report to 3 major credit bureau and they can help you in raising your credit score. When taking charge of your financial future you have to keep your credit score up by paying your bills regularly, be aware of your purchases and make sure you have a budget. This can help you get back on your feet and get established. Choosing unsecured credit cards for bad credit and 0 balance transfer credit card can be nerve-wrecking. Credit Land has outlined every credit card features to help you choose the best. Visit credit-land.com for more details and information.
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