Bad credit and how you can avoid high fees

"Bad Credit" Credit Cards: How You Can Avoid High Fees Individuals with problematic credit histories often suffer unfairly from high mortgage, insurance, and car loan rates. They have difficulty getting approved for credit cards. The first thing I tell them is to get a credit card designed for people with bad credit. bad credit card, bankruptcy credit cards, poor credit credit cards, credit card fees Credit Card # 3: This credit card is available as both a secured and unsecured credit card, based on the issuers review of your credit history. The annual fee for a secured credit card is only $35, and for an unsecured credit card, this fee can be as low as $39 or up to $79. That means the most you could possible be charged to obtain this credit card is $128, about half of what competing cards are charging. Credit Card # 2: This credit card charges a very high interest rate for an unsecured credit card. There is that pesky monthly maintenance fee of $6.50 per month which brings the cost of this unsecured credit card to $107. That not only brings the initial cost up to $257, but you will also pay $228 a year just to maintain the credit card. Article Body: Individuals with problematic credit histories often suffer unfairly from high mortgage, insurance, and car loan rates. They have difficulty getting approved for credit cards. The first thing I tell them is to get a credit card designed for people with bad credit. Credit Card # 1: This credit card charges a very low interest rate for an unsecured credit card. This brings the cost of your new credit card to $244 the first year, and $120 each additional year. This is no small change, and a card such as this should be considered only if you can not be accepted for a better unsecured credit card for bad credit. All positive changes to your credit history and credit score will translate into lower loan rates, lower credit card interest rates, lower insurance rates, and ultimately, thousands of dollars in savings. The path to rebuilding credit has its costs, but in the long term, rebuilding your credit with a credit card is the fastest and most cost-efficient way to correct the often unfortunate circumstances that have damaged your credit in the first place. There are only a limited number of credit cards for individuals with bad credit. They all help build and rebuild your credit by reporting to the major credit bureaus on a monthly basis. You must read the fine print before applying for one of these credit cards, as they often charge high yearly fees, set-up fees, and even monthly fees.