If you’re on the market for a 2nd chance credit card and you’re not having a lot of luck applying for the mainstream ones out there, then you seriously need to consider rebuilding your credit score. You can do this by getting a bad credit card. This card will help you rebuild what credit score you had left and enable you to get back on the financial ladder in no time…
Now this wouldn’t be called Credit card comparision if we didn’t compare credit cards, so today we’ve got a couple of 2nd chance credit cards for you to take a look at.
Barclaycard Initial
Capital One Classic
There really isn’t much more to Capital One than helping you rebuild your credit rating. Barclaycard clearly win hands down in this comparison.
The American Bankers Association and Keybridge Research have released a study that shows nearly 40,000 jobs in the Massachusetts area were directly or indirectly created as a result of credit card borrowing by small businesses between 2003 and 2008.
On the national level, the survey noted that credit card lending to small businesses during the same timeframe resulted in the creation of 592,000 small business jobs with an addition 1 million indirectly created.
APR is an abbreviation for Annual Percentage Rate, which is basically another phrase used to describe a credit card‘s interest rate. Every purchase made with a credit card gathers interest that must be repaid eventually. For example, a purchase made with a card that has an APR of 5% would cause 5% of that purchase to accumulate in interest.
Thus, a $100 purchase with such a card would cause a debt of $105. Some credit cards offer grace periods that give the cardholder a specific period of time before any interest is charged on a purchase. B
American Express offers personal credit cards, travel cards and small business credit cards. Many offer reward benefits. Before considering any credit card offer from American Express, ensure it is the best offer for your particular needs.
Consumer Credit Lines
The following credit card offers from American Express are accurate as of July of 2010. Visit the company’s personal credit card user website for the most up to date offers.
Platinum Card: The Platinum credit card offers excellent service and rewards to customers. They receive access to airport lounges and invitation only events plus various travel privileges.
Credit card Q&A: “How to pay off credit card debt?”
There are several ways to pay off credit card debt, but perhaps the best method is to transfer existing balances to low interest credit cards, or even better, a 0% APR credit card.
By doing so, you’ll be able to lower the APR tied to the balance(s), which will result in fewer finance charges.
Let’s look at an example:
Current credit card debt: $5,000
Current credit card APR: 19.99%
Monthly finance charges: $83.30
(How to calculate credit card interest.)
Instead of paying nearly $100 a month in finance charges, you can ask your credit card issuer(s) to lower your APR.
Essentially, you’ll threaten to move the debt to another card issuer if they don’t play ball. This is one