Emergency Credit Cards - What Can They Do?

If you have no credit or bad credit, then it is really important that you start start

building your credit very fast; you may need an emergency credit card, but do it carefully. There are plenty second chance credit card companies out there. None of them are going to roll out the red carpet in front of you if there are some significant credit problems in your past, but they will do business with you, of course. The key to being smart in this regard is to control your use of the card. I'm sure you can understand that they are going to have to view you as a high risk if you don't have good credit. Many of these companies are going to have to charge you a fee for their service. On some, the interest rate may be fairly high. Some may only offer you a secure credit card (which works as a debit card and it reports to the credit bureaus, so that is an excellent choice for you, as it will help you build positive credit).

Whatever kind of emergency credit card you end up getting, you need to make sure it is one that can help build your credit. The following tips will help you find one that is right for you.

First, you have to know your situation and you may need to get a credit report to do that. If your credit is quite bad, then you ought to think about getting a credit card that will not require a check of your credit. They are out there! Generally speaking, they are credit builder' emergency credit cards. Typically, this sort of card will be a secured credit card. That means that you put cash into the card, much like a debit card, and your credit limit is however much you load on to the card. But before getting this type of card, you need to make 100% sure that they DO report to the credit bureaus. This is enormously important because if it does not report to the credit bureaus, then it cannot help improve your credit.

Second, if your credit has some issuesyou know your credit has issuesbut isn't terrible, then you might qualify for an emergency credit card that will check your credit. This might be a better option for you because your fees and terms might be a better than the previously explained card.

Either way, here are some things to keep in mind to keep your fees down.

1. Be sure you pay off your credit card every month.

2. Never keep a balance on your card since you cannot have to pay interest if you don't have a balance.

3. Do anything you can to avoid annual fees. Ask them to waive the fee after you have been a card member in good standing for a little while.

4. Emergency credit cards make money each time you swipe the credit card. So swipe it a lot, but make those payments as many times per month as you can. Most cards will allow you to pay off your balance online. Do this! It will help you keep a close eye on things, and it will better equip you to understand that spending money on your card, it is the same thing as spending cash. You must do this. This is essential to improving your credit.

Emergency Credit Cards - What Can They Do?

By: Matthew Wierzbinski

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