If you planning to apply for a bad credit credit card, with no annual fees, believe me it won't be a walk in the park to locate this holy grail of credit cards. If your credit score is poor, getting yourself a bad credit credit card is often the quickest way of fixing your credit history. Unfortunately most bad credit credit cards charge a high annual fee and interest rate.
Thus maintaining the card for over a period of six months can become quite difficult. While numerous credit card companies have 'niche' bad credit with without any fees, the process of applying and getting approved can be an uphill task. After filling up countless applications and spending hours patiently answering the queries of the sales rep, getting rejected does feel painful.
How Can I apply and get Approved For A
Credit Card For Bad Credit
No wonder people end up wondering if such cards actually exist. Some people believe that's its actually easier to go into the Himalayas and find the Yeti than to convince a credit card company to them a bad credit credit card. To actually make matters worse, online research done by people hoping to find such a card leaves them dazed and disheartened.
Most bad credit credit card offers
on the net sound promising in the beginning, yet due to their inherent high
risk nature are actually very expensive and demand substantial deposits and
other funds for approval. In fact by the time you are you're approved for the
card, you will find yourself $200 in debt. So do such cards actually exist, or
they are simply a myth propagated by the online credit card industry.
The High Risk Nature Of Bad Credit
Credit Cards Make them Expensive
As is the case with the financial industry, the answer to this question can be tricky. There is almost no way you will be able to avoid the additional costs and fees associated with a bad credit credit card. The high risk nature of the card couple with it's unsecured of nature of offering credit, makes it an expensive proposition.
However, there are some pretty ingenious yet devilishly simple ways of getting a 0 fee bad credit credit card. Here are some of them:
Credit Card Interest Rates or Annual
Fees â€“ Pick Your Poison
Let's say you want to avoid the high annual fees charged by these cards. There are several credit card options available online, that offer such cards minus an annual fee. However, you can be sure that their interest rates will be high to compensate for the loss. This holds true for all discounts offered with bad credit credit cards.
Go Online For the Best Credit Card Offers
Your best bet is to do an exhaustive online search and compare your best credit card option. Then check up with the ones that offer to prepare a customized credit card to meet your specific needs. For this log onto any site that reviews credit card offers, and pick the ones with the lowest fees. You can then contact them and negotiate discounted deal with the sales rep.
Carefully Read The Fine Print
As with any decision involving contracts and finance, you should carefully read the fine print before signing up with the company. That's because while on the face of it you may have avoided a seemingly high annual fee or interest rate yet may have agreed to incur a less visible cost over a long period of time. Whatever, the case once you do get a bad credit credit card, rebuild your credit rating and qualify in order to qualify for a regular credit card.