Examples of Bad Credit Cards Being Issued by Banks in Today's Economy

Examples of Bad Credit Cards Being Issued by Banks in Today's Economy

As a result, users suffer from smaller spending limits with little or no rewards. If you own a credit card, try to check your bill for the previous month; you'll be certain that your credit card provider got some grim from you. But if you haven't felt it yet, then perhaps this is not a buyer's market anymore.

You may not be in the mood of counting your blessings now after being confronted by this fact. However, you may still be fortunate enough compared to some individuals out there who carry heavy luggage brought about by their bad credit and contracts. Read on and find out the examples of bad credit cards being issued today.

1. Bad credit cards are those that make you owe more than your average credit limit. These cards charges you hefty start up fees that includes a set up fee, a program fee, and a servicing fee as well as an annual fee. All these will cost more than your average credit limit on the first month.

2. Retail cards. Retail cards are bad credit cards that offers by far the most unreasonable interest rates ever. These cards charge their users with a hefty percentage of interests rates on their balance which is way too hefty compared to the 10% charge of non-retail cards.

3. Bad credit cards are those that offer bizarre policies. Most of these are very well - advertised in the market. Their enticing policies on paper are a bait to unwary customers. For example they will lure you with their cash rebates advantages or exclude you from paying balance transfers. However, the truth is you can only avail this when you have a balance that is almost twice higher than the percentage of the rebate.

4. Secured cards. Secured cards are literally doesn't give you security. Perhaps the credit card provider is the one who will be secured with this. This is claimed to be the best deal for those who have bad credits but in reality, it is the worst deal ever. Why is that? For a customer to avail this, he or she must render cash deposit first amounting to as her or his preferred credit limit. They will charge you hefty start up and annual fees and worst is there are no grace period. You will even be charged directly from the moment you make a transaction to the time you pay them back with no exemption to good payers.

Ileana Limon has been writing online for almost two years. She is not only a specialist in the Business and Technology sector, but she also has many fun websites. See her latest website aboutWonder Woman Child Costume where you can find insider deals and information. This site is located at [http://www.wonderwomancostumeideas.com/].

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