You Win When You Compare Poor Credit Credit Cards
Though people often get what they want when they select the first item that meets their needs, there could be better deals out there. Consumers will never learn of these unless they do some investigating.
The easiest and most convenient way to find this information is to look online. Using this approach to compare poor credit credit cards, a consumer can save a lot of money in interest and possibly even get some nice benefits.
In general, most credit cards require a credit check during the application process. However, cards designed for consumers with the worst credit do not. These are usually pay-as-you-go or prepaid cards and include the Cashplus Prepaid Gold MasterCard, the Freedom Prepaid MasterCard, and Virgin Money Pay-as-you-go Visa.
The Freedom MasterCard is reloadable at outlets and ATMs, while the Cashplus MasterCard may be reloaded at a post office.
Vanquis has a no annual fee Visa card that permits a starting credit limit of between £150 and £1,000 and a variable representative APR of 39.9 percent. By making on-time payments, limiting outside debt, and not exceeding the credit limit, cardholders may be eligible for a credit limit increase on the fourth statement.
Further increases, up to £3,000 total, may be available every consecutive four months. For peace of mind, cardholders receive 24/7 fraud monitoring.
Capital One offers people with poor credit a chance to improve their financial situation using the Classic Visa credit card. Credit limit is £1,200 and the card features a 34.9 percent representative variable APR.
New Provident provides a Visa card that is also a debit card. It is regulated by the FSA and is available in values of £300. This card may be used worldwide for purchases made online, over the phone, and in stores. Each week, an agent contacts the cardholder to collect weekly repayments.
The E Platinum Plus Card is a guaranteed approval card that offers a lifetime zero percent APR on purchases of things like game consoles, laptops, televisions, and certain household appliances.
Applicants are not subjected to a credit check and a credit line of up to £5,000 is available. This card features a £4.95 monthly fee and is available in stylish green or black colors.
BarclayCard International Visa cards feature a 29.9 percent representative variable APR. Consumers who need to build up their credit rating are the target market.
Applicants must be at least 18 years of age and have a minimum annual income of £10,000. Reward Money benefits are included with this card, allowing consumers to earn one percent of the purchase price on eligible items.
One of the most attractive deals for people with poor credit is the Capital One Progress MasterCard. Starting variable representative APR is 29.9 percent but cardholders can shrink their rate to as little as 17.9 percent p.a. variable when they use their credit wisely and make regular on-time payments.
With a credit limit of up to £2,500, they should be able to meet their basic needs.
To effectively compare poor credit credit cards, consumers should look at the annual fee, features, benefits, representative APR, and other fees and charges. Interest rates are usually about 35 to 40 percent, though lower rates are sometimes available.
Those who carry over a balance from one month to the next should find the card with the lowest interest rate and no annual fee.