March 23, 2018

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Comparing Prepaid Credit Card Companies

Credit Card Alternatives for Poor Credit Scores

What to do When Your Credit Is Bad


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Credit Card Alternatives for Poor Credit Scores

Lax credit rules, over spending, a weak economy and a startling number of unemployed workers have many consumers licking their financial wounds. Starting over financially is no walk in the park but is a necessity to get back on your feet and headed in the right direction.

Don't Over Apply
First of all, keep in mind that if you're not having any luck with applying for a credit card with the traditional banks - don’t continue to apply. Each time a credit check occurs you potentially impact your credit score further.

Credit Card Alternatives
This may be easier said than done. Many lenders will reject applications for credit from those with poor credit. But that doesn’t mean you’re completely out of options. Having access to a MasterCard or Visa is necessary in many situations and doing without is nearly impossible for some. Consider these alternatives:

  • Prepaid Cards are one option for those unable to qualify for a credit card. Essentially they work independently from your credit score and do not impact you positively or negatively on your credit history. The basis of a prepaid credit card is that, for a fee, you may “load” the card in advance via a cash payment and then are able to use it as needed. Again, prepaid card companies will not report your responsible spending to reporting agencies but will help you learn to stay within your budget and get you into the habit of only spending what you can afford.
  • Secured Credit Cards are similar to a prepaid card but do work in conjunction with your credit score. Typically a customer is able to obtain a secure credit card via a cash deposit. After several months of making monthly payments and staying within the credit limit, a secured credit card company will often issue a line of credit that is more similar to an unsecured credit card. This is considered a starter credit card to help get you back on your feet.
  • Bad Credit - Credit Cards are specifically designed for those with poor credit history and a low score. Some companies may still be willing to issue a line of credit. HOwever, be prepared for hefty fees and penalties of any credit card you obtain. Credit card companies willing to risk a line of credit to someone who has been historically irresponsible are going to charge fees.. Annual fees can range from $50 to several hundreds of dollars and are hard to avoid. Credit limits on these types of cards are typically very low and may even require collateralization.

Establish a Payment History
Once you’re able to gain access to even a small line of credit treat it with the upmost importance. Demonstrate that you can make monthly payments on time each month and spend only within your credit limit. This practice done consistently will eventually earn you a larger line of credit at cheaper interest rates.

Deputies looking for pair after woman's credit card number used at Walmarts

GARNER, N.C. (WNCN) - The Wake County Sheriff's Office is looking for a pair of suspected credit card scammers. Investigators believe the duo spent hundreds of dollars on prepaid gift cards using a stolen credit card number. Surveillance photos ...

Published:  Wed, 14 Mar 2018 16:16:00 GMT

18 federally indicted in Flint for Walmart prepaid card scam

When the checkout cashier would scan the barcode on the falsified prepaid card, a wire transmission from ... a member of the alleged conspiracy would either slide an illegitimate credit or debit card or pretend to slide a card through the reader as if ...

Published:  Wed, 14 Mar 2018 15:40:00 GMT

SPS offers different technologies for a seamless migration to dual interface payment cards in the Americas

On the mature and always-evolving payment card market, American issuers have deployed complex marketing strategies in their credit, debit and prepaid card portfolios leading them to propose cards with multiple features to their customers. Besides technical ...

Published:  Thu, 22 Mar 2018 07:15:00 GMT

UK cards and payments market insights shared in detailed report

The cards can be utilized for travel, commute, online purchases and gifts. The introduction of Universal Credit Program in 2013 greatly promoted the growth of prepaid cards market in the United Kingdom. The Universal Credit is provided to the low-income ...

Published:  Wed, 14 Mar 2018 23:39:00 GMT

House okays mandatory SIM-card registration bill on second reading

Zarate also said the burden of registration will be on subscribers. "Prices of SIM cards and prepaid credit are also expected to shoot up because telcos will pass the additional cost of registration to subscribers if this proposal becomes law.

Published:  Thu, 22 Mar 2018 06:32:00 GMT

Think before you lend your credit card to others

Is that the best way to help financially Why would a credit card be preferable to something finite, like cash or a prepaid card Think like a bank and consider the risk of non-payment. Is this person responsible and likely to pay you back Are you helping ...

Published:  Thu, 15 Mar 2018 05:41:00 GMT

Visa Tests Biometric Fingerprint Reader on Cards

Visa, the financial services giant, thinks so. The company, which backs credit, debit and prepaid cards, has started pilot tests of cards that have a built-in fingerprint reader. Users place their finger on the sensor area and either insert the card's chip ...

Published:  Fri, 16 Mar 2018 12:19:00 GMT

A Cooling EMV Market And Slipping Chip Card Prices Show up in a Card Maker's Results

U.S. sales of EMV credit and debit cards were down 23.9% in 2017 for the ... U.S. industry card manufacturing volumes are estimated to grow," Scheirman said. CPI's prepaid card business, though small relative to the overall business, stands out as ...

Published:  Tue, 13 Mar 2018 09:05:00 GMT

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