What Is A Bad Credit Credit Card?
Posted on March 19, 2008 - Filed Under Finance | Leave a Comment
This is a phrase which describes credit cards issued to individuals with bad credit ratings. They provide a chance for people with less than perfect credit to obtain a credit line and possibly improve their credit rating. Although these credit cards will carry rather “unfriendly” terms such as higher than normal interest rates, they give those with a poor credit history an opportunity to take advantage of the convenience that credit cards offer.
Another term that is sometimes used to describe bad credit credit cards is “secured credit cards”. Secured credit cards require users to deposit cash into their account prior to using the account. Doing so allows these customers to develop a history of responsible credit card use with the issuer.
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