How to use instant approval credit cards for bad credit to increase your credit score
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How to use instant approval credit cards for bad credit to increase your credit score
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<strong>How</strong> <strong>to</strong> <strong>use</strong> <strong>instant</strong> <strong>approval</strong> <strong>credit</strong> <strong>cards</strong> <strong>for</strong> <strong>bad</strong> <strong>credit</strong> <strong>to</strong> <strong>increase</strong> <strong>your</strong> <strong>credit</strong><br />
<strong>score</strong><br />
Finding the best <strong>instant</strong> <strong>approval</strong> <strong>credit</strong> card <strong>for</strong> <strong>bad</strong> <strong>credit</strong> can be a little time consuming. But worth the<br />
trouble! The benefits <strong>to</strong> this sort of card are numerous!<br />
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Instant <strong>approval</strong><br />
Apply <strong>for</strong> one online<br />
Quick <strong>approval</strong> process<br />
These <strong>cards</strong> are made <strong>to</strong> help people with <strong>bad</strong> <strong>credit</strong><br />
Apply <strong>for</strong> <strong>cards</strong> that will meet <strong>your</strong> needs<br />
There are a lot of different types of <strong>instant</strong> <strong>approval</strong> <strong>credit</strong> <strong>cards</strong> - but only one will be the best fit <strong>for</strong><br />
<strong>your</strong> needs - and wants. A secured <strong>credit</strong> card. These <strong>cards</strong> are also called guaranteed <strong>approval</strong> <strong>cards</strong><br />
beca<strong>use</strong> they don’t require that you have good <strong>credit</strong>. In fact some don’t care if you have no <strong>credit</strong>!<br />
Benefits To Secured Credit Cards<br />
This sort of <strong>instant</strong> <strong>approval</strong> <strong>credit</strong> card has a lot of benefits <strong>for</strong> someone who wishes <strong>to</strong> rebuild their<br />
<strong>credit</strong>.<br />
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Pretty much everyone gets approved<br />
Your <strong>credit</strong> limit will equal <strong>your</strong> security deposit<br />
Most of these <strong>cards</strong> will submit <strong>your</strong> payments <strong>to</strong> at LEAST 1 <strong>credit</strong> bureau<br />
Low interest rates<br />
Can earn interest on <strong>your</strong> security deposit!<br />
Choosing the Right Card For You<br />
You really want a card that will grow with you. Look <strong>for</strong> a card like the The Applied Bank Secured Credit<br />
Card this card will allow you <strong>to</strong> add <strong>to</strong> <strong>your</strong> security deposit every few months. Meaning even though<br />
you may start off with a low $500 security deposit, Over time you can grow it w/ additional payments up<br />
<strong>to</strong> $5,000!<br />
Having a <strong>credit</strong> card with a high <strong>credit</strong> limit will do WONDERS <strong>for</strong> <strong>your</strong> <strong>credit</strong> <strong>score</strong>. Just remember <strong>to</strong><br />
always spend under 30% of <strong>your</strong> available <strong>credit</strong> so that you can get the full benefits of <strong>your</strong> card. When<br />
you start using more that 30% you start <strong>to</strong> look like a <strong>credit</strong> RISK!<br />
Make Sure You Know The Fees Charged<br />
Many secured <strong>credit</strong> <strong>cards</strong> have really low fees. Some have none. Make sure you read the fine print so<br />
you know what you will be charged <strong>for</strong> having the card. Some of these <strong>cards</strong> will also pay you interest<br />
on <strong>your</strong> security deposit. You will find how much they will pay here <strong>to</strong>o.<br />
Think about the Interest<br />
Just like any other card. Instant <strong>approval</strong> <strong>credit</strong> <strong>cards</strong> will also charge an interest rate. And they can<br />
vary greatly! Most are currently around 9% but I’ve seen some as high as 17%. Its up <strong>to</strong> you <strong>to</strong> know<br />
the interest rate charged BEFORE you apply.
Of course, if you plan on paying <strong>your</strong> <strong>credit</strong> card off each month in full. Then the interest rate isn’t as big<br />
a deal. But while it’s a good practice <strong>to</strong> pay off <strong>your</strong> card at the end of the month. You can’t always do<br />
that. And those are the times you will not want <strong>to</strong> be saddled with a <strong>credit</strong> card with a high interest<br />
rate!<br />
Ready <strong>to</strong> get <strong>your</strong> <strong>instant</strong> <strong>approval</strong> <strong>credit</strong> card <strong>for</strong> <strong>bad</strong> <strong>credit</strong>? BadCreditResources.com has put <strong>to</strong>gether<br />
a great list of <strong>cards</strong> <strong>to</strong> start of <strong>your</strong> journey!. .
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