Poor Credit Visa

Posted by admin on January 31st, 2009 at 12:00am

Question:
What banks give out unsecured poor credit Visa or Mastercard to people with bad credit?
I have to find a bank that issues poor credit Visa cards for people with bad credit. However, I do not require a bank that applies a monthly maintenance fee.

Answers:
Orchard bank is the ideal bank to go to if you wish to have secured credit cards. They do not charge a monthly fee, but they do apply a one-time fee of 35 dollars. They are good. I have been with them for the past few months, after about 12 months, they will unsecure it. Also, they report to the credit bureaus every month which will make your score improve a little if you pay on time. Look them up; you will not regret it.

If you currently have poor credit then now is the right time to get away from the whole concept. Just obtain a debit card. It will work anywhere a credit card would.
The advantage is that you should never have a fee every month with a debit card and they will even give you interest on your account.
The main reason to get a credit card would have to be to spend cash that you do not currently have. If you don’t currently have the money then do not even bother buying it. Just do some planning with a budget and never mind the credit cards. Credit cards are problems encased in false promises.

HSBC – Orchard Bank issues credit to people with bad credit and poor credit visa. Based on your credit score, they do charge a fee every year for their cards. I for one would not suggest them. However there are a few banks that focus on people with poor credit. A lot of sites on the web gives information on these sources. Be wary in choosing one, and Good Luck.

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