In some cases, making a quick decision is recommended and in others, it can be a mistake. A credit card is not something to take lightly, so conduct a thorough comparison before selecting one.
If your credit is bad, a guaranteed acceptance card may be the answer. When you compare no credit check credit cards to regular cards, some differences emerge. Taking these into consideration will enable anyone to find the most suitable card.
As the name implies, this credit card does not require that applicants submit to a credit check. Someone who has poor credit will either qualify only for credit cards with huge interest rates or not be eligible for any traditional cards.
A guaranteed acceptance card is another option. It is offered as a prepaid American Express, Visa, or MasterCard and is available for anyone within the UK or other countries.
The only verification that takes place during the approval process involves identity and address. Employer, income, and reference information is not required and applicants are not turned down unless their address or identity cannot be verified.
Within each type of card, consumers have several options so they should find something that meets their needs. Review the benefits, charges, interest rates, and features of each.
CardOne offers a guaranteed MasterCard designed for individuals with poor and very bad credit. It includes secure online banking and allows cardholders to avoid overdraft fees and bank charges.
Kalixa has a pay-as-you-go MasterCard tied to an eAccount.
Individuals can register online and only a £10 deposit is required to begin using the card. The card can be loaded electronically online at no charge and there are also no charges for MasterCard POS or online purchases.
Virgin Money PAYG Prepaid Visa is a pay-as-you-go card with both chip and pin features and no bank account is required to use this card. Virgin also offers a monthly prepaid Visa card that has the chip and pin and does not require a bank account.
For frequent travelers, the Virgin Prepaid Travel Money Visa may be the perfect choice. It is available in U.S. dollars and euros and is accepted in most countries as an alternative to carrying cash or using traveler’s checks.
Freedom offers two prepaid MasterCards that include different benefits. The Instant Cash Card is the first retail instant issue and reloadable prepaid MasterCard in the UK that features chip and pin security with no ID requirements.
The Personalized Freedom Cash Card is a prepaid MasterCard that requires no bank account, is valid for three years, and has a £3,000 maximum card balance.
Benefits of these two cards include free insurance protection, low cost check cashing services, low cost international telephone calls throughout the world, and a low £9.99 fee.
The Credit Booster feature allows individuals to improve their credit rating and the cards are fully reloadable at 1.5 million ATMS and 28.5 million outlets worldwide.
When you compare no credit check credit cards, you will also find the Bread Prepay Maestro card and the Cashplus Prepaid Gold MasterCard. In addition, there are cards that though they are not guaranteed acceptance will consider individuals with poor credit, bad credit, defaults, and CCJs.
The representative APR on no credit check cards is usually higher than for traditional credit cards but it helps people rebuild their credit.