Is there any hope for us people with poor credit? Absolutely! If you read my other post about rebuilding your credit, you will find that with some time and responsibility will get you there. But what about the catch-22. You get denied credit because you have poor credit, but you can’t rebuild your credit if nobody will give you a credit card.

There are several cards and solutions out there to get you on your way to rebuilding your credit even if you have poor credit. The first thing I recommend is opening up a secured credit card account. This is a credit card that you will need to deposit funds into (yes you earn interest) and the amount of funds you deposit is your credit line. You will want to make sure that the cards report to all 3 credit bureaus, to turn your poor credit into at least a good credit. I have researched several secured credit cards and the ones I recommend you look into are Orchard Bank, which has a secured and unsecured card. The other secured card I recommend is NMB or New Millenium Bank, gold card status, no credit checks, reports to all 3 credit bureaus, up to $10,000 in credit.

The nice thing about these secured cards is, especially if you don’t have a credit card at this time, is that you can pay at the pump, purchase online with your card, make reservations etc. Things you cannot do without a card. These secured cards are accepted anywhere visa/mastercard are accepted. Another cool feature, is you can load the cards through direct deposit through your employer, which makes it fast and hassle free. Most importantly, they report to all 3 credit bureaus, so you are rebuilding your poor credit.

For those of you looking for an unsecured card, and do not wish to deposit your own funds into a secured credit card account, there are a few credit cards that will approve you with poor credit. Orchard Bank, Tribute Mastercard, First Premier Bank and Centennial Visa are three banks that want to help you get on your way to better credit.

With a little time and some good payment history, your credit scores will go up and you will be able to get lower interest rates on loans and credit, and credit card companies will start issuing you unsecured credit cards with 0% apr’s and no annual fees. Having poor credit can be fixed, and the rewards of having good credit make all the work well worth it.

Please visit our Bad Credit Page for more offers

Technorati Tags: poor credit, bad credit, unsecured credit cards, secured credit cards, orchard bank, new millenium bank, imagine gold card, first premier bank, centennial visa, rebuild credit, credit bureaus, credit reports

Pre-paid MasterCard and Visa cards become an alternative to credit, debit cards

While credit cards and bank-machine cards have long been favoured by many shoppers because of their ease of use and wide acceptance among retailers, a new generation of cash alternatives is becoming available.

Affiliates of MasterCard and Visa have begun offering pre-paid cards that don’t provide you with credit or draw directly from your bank account but in other ways work much like the more familiar cards in your wallet.

While these payment methods do offer certain advantages over credit cards – no need to have an approved credit history, for instance – they also charge a variety of fees and come with certain restrictions that may limit their appeal.

The Visa Wired Plastic Card is a reloadable pre-paid card for purchases from merchants that take Visa/MasterCard. They can also do cash withdrawals from bank machines on the Cirrus network.

Unlike credit cards, however, the pre-paid cards don’t charge interest since you’re not borrowing money from the issuer. On the other hand, the money loaded onto the card doesn’t earn you interest either.

Check out these recommended pre-paid credit cards.

Vaya Prepaid Mastercard

Eufora Prepaid Mastercard

First Vineyard Prepaid Mastercard

Credit Cards … for the Bankrupt?
Is offering credit to bankrupt folks the right thing to do?

If you’ve spent any time in our eye-opening Credit Center, you probably realize that the credit card industry does everything it can to make money off people who carry plastic in their pockets. Grace periods? They’ve gotten shorter. Teaser rates? They don’t last too long. Annual fees charged on no-annual-fee cards? They’ve been known to appear.

So maybe you won’t be surprised to learn that credit card issuers are going after newly bankrupt Americans. That’s right. And right now, there are a heck of a lot of bankrupt Americans. According to The New York Times, the credit card industry spent $100 million over the past few years lobbying for changes in bankruptcy law. It got what it wanted, and before the new bank-friendly, not-so-consumer-friendly laws went into effect in mid-October, a record number of Americans had filed. In 2005, more than 2 million people have filed for bankruptcy.

Orchard Bank – The #1 Credit Card for Bankruptcy Filers

The Times reported that many of these folks are regularly getting tempting credit card offers in the mail. It might not seem to make sense, since these folks tend to be bad risks, but considering that the new laws make it much harder for people to get out from debilitating debt, it’s not so unreasonable for lenders. (Although we might imagine that most people in steep credit card debt are there because of irresponsible spending, many actually end up there from life’s hardships, such as costly illnesses or job losses.)

If you are newly bankrupt and interested in rebuilding your credit, the following credit cards are recommended.

• Orchard Bank


• Tribute Mastercard


• Continental Finance Gold Mastercard

Millennium Bank Secured Platinum Visa or Mastercard

New Millennium Bank has guaranteed your credit approval for up to $10,000** (with both cards) in secured credit with no credit check!

GUARANTEED ISSUE

COMPLIMENTARY ONLINE SERVICES FOR ACCOUNT MANAGEMENT AND PAYMENTS

NO CREDIT CHECK

BE APPROVED REGARDLESS OF INCOME or CREDIT HISTORY

REPORTS TO THE THREE MAJOR CREDIT BUREAUS

You have been approved for a secured Platinum Visa and a Platinum Mastercardwith a total credit limit of $10,000** (with both cards) in secured credit! You get the benefits of Platinum status: emergency cash transfers, free $150,000 accident insurance, free auto rental insurance, free extended warranty protection.

Life Gets Better with the Guaranteed Credit Card from New Millenium Bank – No Credit Checks

When we receive your processing fee you will be sent instructions by e-mail on how to redeem a “FREE COMPANION AIRFARE.*” You can travel to most major US cities when you purchase one adult round trip airfare.

You will also be automatically enrolled in The World’s Best Travel Club.com where you will receive discounts and low, low prices on all your travel needs!

Your credit line will be equal to and secured by your New Millennium Bank Savings account (Minimum deposit $300, Maximum deposit $5,000 per card)**

When you make your first condo booking* through the World’s Best Travel Club, the club will send you a cash rebate of $69.00!

When you apply you will get:

FREE COMPANION AIR TICKET VALUED AT HUNDREDS OF $$$
MEMBERSHIP IN THE WORLD’S BEST TRAVEL CLUB.COM
CASH REBATE OF $69.00 ON YOUR FIRST CONDO BOOKING**

*Terms and conditions apply.

**Fees and terms Apply.

Looking for a post bankruptcy credit card – Orchard Bank Unsecured/Secured Credit Cards can help rebuild your credit Try Tribute Mastercardas well, perfect credit card for bankruptcy filers.
Credit cards solicit newly bankrupt

TACOMA, Wash., Dec. 11 (UPI)—Credit card companies are looking for new customers among many of the more than 2 million Americans who filed bankruptcy this year.

A new bankruptcy law makes it harder for the newly bankrupt to escape new credit card debt and extends to eight years from six the time before which they could liquidate their debts through bankruptcy again, The New York Times reported.

That makes them more attractive to the banking industry, which spent more than $100 million lobbying for the new law.

“The theory is that people who have just declared bankruptcy are a good credit risk because their old debts are clean and now they won’t be able to get a new discharge for eight years,” said John D. Penn, president of the American Bankruptcy Institute, a nonprofit clearinghouse for information on the subject.

The new law also requires many of those who do go back into bankruptcy to pay previous credit card bills that may have been excused under the old law, the newspaper said.

Credit Card Issuers for People who just Filed Bankruptcy
1. Orchard Bank
2. Tribute Mastercard