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Credit Cards
Credit Card
Basics:
-Credit
Card Benefits
-Glossary
-Applying
for
the Right Card
-Card
Offer Pros & Cons
-Cash Advances
-Balance Transfer Tips
-Smart Credit Card Use
-Going Over-the-Limit
-Credit Card Scams
-Delinquency Rates
-Paying Bills on Time
-Credit Card Insurance
-Fees
& Costs
-Student
Card Guide
-Unsecured
Offers
Card Offer Details
Mortgages
Auto Loans
Personal Loans
Credit Reports
Debt Consolidation
Home
-Taxes
-Managing Money
-Credit Help
-Checking Accounts
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UNSECURED CREDIT CARD GUIDE
Unsecured credit cards offer many great benefits.
One of which is the low fee associated with card set-up.
Dissimilar to a secured card, you are not required to
pay the entire amount of your limit prior to being able
to use the card. Instead, once you receive your card,
you can spend as much as your available limit offers. In
most cases, the card fees will be charged to your card
after the first month. Therefore, you do not have to pay
any
fees in order to receive your unsecured card.
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GREAT UNSECURED CREDIT CARD OFFERS
FOR
GOOD AND BAD
CREDIT! |
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Dealing with emergencies
Unsecured credit cards are an excellent resource
when have to deal with an unforeseen
financial crisis, i.e. car repairs, doctor bills,
etc.. Instead of having to wait until you can afford to
pay off your initial deposit, you have the ability of
utilizing 100% of your available credit limit. So, if
your car breaks down, you will not have to be concerned
about how you are going to pay for the repairs. Instead,
you have your unsecured card to use, and then make
payments on the balance as you can afford to.
Higher limits = greater spending
power
Almost every type of unsecured credit card has a higher
spending limit than secured cards; giving you more
spending power to use. If you necessitate a large amount
of money to pay for a service or good, it is likely that
you will be able use your credit card if it is an
unsecured one. Being that secured cards are usually for
those with bad credit, they will have lower available
limits.
In addition, you may be in the
beginning stages of obtaining your credit card, where
you are still paying off your deposit. With an unsecured
credit card, you will be able to utilize the fullest
extent of credit immediately, giving you the spending
power you need for those high ticket items and
unexpected emergencies
Account activity reported to the
credit bureaus
It is likely that your unsecured card issuer is going to
report your credit card account activity to all three
major credit reporting agencies more frequently than
secured card issuers. Being that the company you
obtained your card from is taking a bigger risk on you,
the more reason for them to report your activity with
them on a regular basis. As a result, if you use your
credit card wisely and keep your account in good
standing, i.e. no delinquent payments or
over-extending of your account, the faster your
credit rating and score will increase.
On the other hand, if you are late or
miss a payment, you can be certain that your card issuer
will report your tardiness to the credit agencies.
While this can make
bad credit worse, so
long as you manage your credit wisely, you are more
likely to see an increased
credit score by applying and being accepted for a
credit card that is unsecured.
Keeping track of your finances and
effectively managing your credit card payments will go a
long way towards
improving your credit score, and an unsecured credit
card is the best credit card to have for this purpose,
as it maximizes your flexibility and demonstrates
responsibility in the credit card world. |
