Bad Credit / Credit Repair

Credit can go from good to bad because of poor budgeting or by being between jobs. There are numerous options available for individuals with bad credit in the past and who are presently trying to restore their credit.

Secured credit cards require security for approval. A security deposit of a predetermined amount is necessary to secure this credit card, and the security deposit usually needs to be of the same or larger value than the credit amount. Security can be a car, boat, jewelry, stocks or anything cash value. These cards are for persons with no credit or poor credit trying to build or rebuild their credit status.

Prepaid credit cards have its advantages. There are no finance charges and they help to avoid debt since all purchases are paid for beforehand. With these cards you determine the credit limit by transferring how much money you want to have available to spend. This removes the risk of credit card debt and makes the budgeting easier. Most prepaid cards do not charge finance fees, however other fees may apply, including monthly fees, startup or application fees, over-limit fees, ATM fees, reload fees and more.