Where to Get Bad Credit Unsecured Credit Cards

Suitable Credit Cards for Poor Credit

Aug 25, 2009 Asa Ghaffar

Do you have an adverse credit history due to missed and late payments and need a credit card for poor credit? Find out where to get a bad credit unsecured credit card.

If a borrower has failed to comply with the T&C's of current and past credit agreements, there is a high probability that an adverse credit rating will present a problem. It is still possible to get a bad credit unsecured credit card for both UK and American customers. This article provides an assessment of several of the leading credit cards for poor credit.

Remember that the rate of APR is not the only factor to consider. Many card providers choose to offer an attractive headline rate to attract new customers, but then proceed to charge a number of additional fees that serve to push-up the cost of borrowing.

Centennial Gold MasterCard (American customers only)

Credit cards for poor credit don't normally offer particularly favorable terms, but one of the main selling points of the Centennial Gold MasterCard is a rate of just 9.9% APR. Those accepted will enjoy a credit limit of at least $250; this will be reviewed after just 6 months.

Cash advances are available for up to 10% of the total credit limit during the first 90 days. Provided that there aren't any returned payments, this figure could increase to 50%. The maximum charge is $10. Whilst there is a grace period of 25 days on purchases, this does not apply with respect to a cash advance.

Successful applicants will be charged an annual fee of $48, a program fee of $95, an account set up fee of $29 and a monthly servicing fee of $7. Factor in these costs before applying, particularly if someone is only likely to be offered a low credit limit. A secured or pre-paid credit card may provide a less expensive alternative.

As with all bad credit unsecured credit cards, there is no guarantee of acceptance. However, those who are rejected will be informed in writing within 7 to 14 days of applying.

Aqua MasterCard (UK customers only)

This bad credit unsecured credit card not only offers customers a credit limit of up to £2,200, there is also no annual charge. A further selling point is that, although the rate of APR is 35.9% to 39.9%, no interest need ever be paid provided that the balance is settled in-full each month.

Whilst missed and late payments will show on credit reports for a period of 6 years, this credit card for poor credit can help someone to recover from an adverse credit history. Make payments punctually each month and this will be reported to all leading credit reference agencies.

Acceptance is not guaranteed, but it is a suitable bad credit card for those with minor indiscretions. Make sure that the person applying is on the electoral roll as not being so will almost certainly result in immediate rejection.

A credit card for poor credit is an ideal way to improve a credit rating in a relatively short space of time. Take advantage of bad credit unsecured credit cards, make timely payments and mainstream financial products will become available. Don't forget that there are a number of secured credit cards and pre-paid cards that may be more appropriate.

Sources

Aquacard.co.uk

Centennialgoldcard.com

Disclaimer: This article in no way attempts to give legal or tax advice. One should consult a licensed attorney, tax advisor, or other qualified professional.

The copyright of the article Where to Get Bad Credit Unsecured Credit Cards in Personal Budgeting/Finance is owned by Asa Ghaffar. Permission to republish Where to Get Bad Credit Unsecured Credit Cards in print or online must be granted by the author in writing.

Bad Credit Unsecured Credit Cards	Credit Cards for Poor Credit	Where to Get Bad Credit Cards
Adverse Credit History	Bad Credit Lenders