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Our number one goal is to empower you to make an informed decision, and choose the best credit card that fits your lifestyle. Thank you for visiting. Good day to you!

 

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Bad Credit

What to look for in choosing a credit card when you have bad credit:

We have got good news and we have got bad news. If you are reading this you already know what the bad news is: your credit score. However the good news is: through diligent work you can repair your credit score by choosing the right bad-credit credit card to help you get back on track.

Here are a few things to consider:

Can I even get approved for a card? Yes! Some cards have no credit requirements at all. Typically they use your own money as a deposit and then allow you to borrow it back through the credit card. At this point you may ask yourself, why on earth would I want to give my money to a credit card company and then borrow it back while potentially coughing up for fees and interest? Answer: to rebuild your credit score. That is the only reason to do such a thing. With some cards the initial relationship may start out where the amount you deposit is the amount you can borrow, but this can evolve over time as your score increases. After a number of months you may find that they are willing to extend additional credit to you without asking for a greater deposit.

Will the fees be outrageous?  Often times they will, but by choosing the right card they don’t have to be. You must be very careful to obey the terms of your agreement and understand what will trigger fees.

Cash advance (taking cash out like an ATM machine) fees can be extraordinarily high, often costing in excess of 5% up front of the amount advanced. If that wasn’t reason enough not to use cash advance, credit card companies almost always have a higher rate of interest that they use for advances, and there is no interest-free grace period that most credit cards enjoy. Some statistics indicate that by advancing $1000 for a period of 30 days it can cost you around $70 in fees and interest.

Balance transfers are when you transfer the money you owe on one credit card to another. Most of the time you will be charged a fee (3% is fairly standard). This is usually not available for credit cards with bad credit.

Interest rates can vary widely depending on the card you apply for. Generally for this type of card they vary from the upper 9%-30% APR.

Annual fees accompany these type of cards more often than in any other credit card category. Occasionally you can find a $0 annual fee card, but they often range from $29-$125 per year.

Late fees occur when you miss a payment – remember to pay on time! These are generally around the $30 and up mark.

Can I get rewards even though I have bad credit? Yes, however those cards seem to be more rare, and you may not be able to qualify for them if your credit score is absolutely abysmal.

Will the credit card be accepted anywhere? Selecting the right credit card company is very important. The larger credit card issuers like Mastercard, Visa, Capital One, American Express, and Discover will be accepted almost everywhere. Other issuers like small to medium sized banks or finance companies may have better offers (like rewards or lower interest) than the big issuers, but they lack the infrastructure to provide world wide acceptance.

Does the card have good terms? Some credit cards on offer have fairly significant fees associated with changing your credit limit; other cards are fairly strict about changing your limit. Each card is different, but this is something you should be aware of if you plan on wanting your limit changed occasionally.

Now that you have a brief overview please feel free to see what we have to offer. Thank you for reading.

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Cash Back Cards

What to look for in choosing a cash back credit card:

Congratulations! You have the privilege of looking into cash back credit cards. Soon you will be receiving cash back on almost everything you purchase using this divine card.

Here are a few things to consider:

What does my credit score need to be? You are going to need at least fair credit to qualify for most of the decent cash back credit cards. Ideally you will have excellent credit to be able to qualify for most of the truly beautiful offers.

Rewards rewards rewards!!!  There are a few things to think about when you start looking at the shiny rewards offers:

Initial rewards bonus – Sometimes offers of hundreds of dollars are available to lure you into a signup; however, the higher the offer usually means a higher annual fee and/or a lower accumulation rate on receiving cash back.

What % you accumulate cash back rewards at – This can range quite widely from half a % to around 5% (on select purchases). This is by far the most important thing to consider, and ultimately the entire reason to select this type of card.

What purchases qualify to receive rewards – this can vary quite a bit. For example some credit cards that offer a 5% cash back may also say that only qualifies to purchases that they have outlined on a schedule they have created.

Will the fees be outrageous? If you pay off your balance on time each month, and you do not trigger any strange language clauses this type of card will pay you to own it!

Will the credit card be accepted anywhere? For cash back cards as a general rule the larger credit card companies are the main providers therefore they should be good almost anywhere.

Now that you have a brief overview please feel free to see what we have to offer. Thank you for reading. If you would like to read more about cash back cards click here.

SHOW ME THE CARDS

Travel Cards

What to look for in choosing a travel credit card:

Do you enjoy warm sands and beautiful turquoise waters? The thrill of experiencing new exciting places and meeting exotic, and interesting people? Perhaps visiting your in-laws in Milwaukee is more in line with your reality. If you would like to do any of these for free, then travel rewards cards might be right for you!

Here are a few things to consider:

What does my credit score need to be? You are going to need at least fair credit to qualify for most of the decent travel rewards cards. Ideally you will have excellent credit to be able to qualify for most of the high end offers.

Travel rewards point!  There are a few things to think about when you start looking at the shiny rewards offers:

Initial rewards bonus – Sometimes offers of tens of thousands of travel points are available to lure you into a signup, the higher the offer usually means a higher annual fee and/or a lower accumulation rate.

What rate you accumulate travel rewards at – usually this is measured in points or miles. Depending on your travel goals going for larger bonus points on signup may make sense for you. Otherwise if you are always in the mindset of accumulating points you will want a faster everyday rate of accumulation.

What can I redeem my points on? Where/when can I go? – blackout dates (dates where you want to fly, but the rewards won’t let you book – usually around holidays), proprietary rewards systems with less options for travel; each one of these things should be examined before you sign up.

Will the fees be outrageous? If you pay off your balance on time monthly, and you do not trigger any strange language clauses this type of card will take you places for owning it!

Will the credit card be accepted anywhere? For cash back cards as a general rule the larger credit card companies are the main providers therefore they should be good almost anywhere.

Now that you have a brief overview please feel free to see what we have to offer. Thank you for reading.