Companies that offer Bad Credit Unsecured Credit Cards

People with poor and bad credit will not be able to avail of desired financial service such as an auto loan, a housing loan, or a credit card application. This is for a fact that a bad credit standing means a person does not have the financial capability to settle any bill he will incur. Such person does not have the willingness and attitude to attend to his accountabilities. He is a high risk to the business and financing industry. It is just but proper that one who has a bad credit not be approved for additional loan request. It is befitting that his request be denied.

Despite these, there are still financial institutions and banks that are willing to offer their services to people with bad credit. They are ready to take chances disregarding the credit history of the person. There are banks that offer unsecured credit card to people with bad credit. The rationale behind is quite unimaginable, but simple. They are willing to take the risk. They are giving these people with bad credits to prove themselves and rebuild a good credit standing.

Having a good credit score for 6 months is enough to rebuild a good credit report. Unsecured credit cards with bad credit are now fast gaining attraction as they require no credit check, and may even waive annual fees. Some banks even agree on Balance Transfer Reversal. This is a method wherein the past due amount a person has from the other bank or institution will be carried over and payment can be continued. This practice helps a lot of people as interest rates become lower. Continuation of their existing outstanding amount shows that the person is willing to pay his debt. This is a positive sign of a financially responsible person and he definitely deserves a chance to rebuild a good credit standing.

Let us take a look at some of the Unsecured Credit Cards with bad credit:

1.    Ultra VX Visa Card. An unsecured credit card, which requires no credit check and allows the cardholder to a maximum $25,000.00 credit limit. It does not require any minimum income or any bank deposit. Instant approval is granted. No annual fee being charged but APR is at 14.90%.
2.    IberiaBank Visa. This unsecured credit card requires applicants with bad credit to have a balance transfer for the first 6 billing cycles. This means whatever outstanding balance one has from his former credit card will be billed first for the next three months of being a member. No annual fees for this card.
3.    Horizon Gold Card. This card offers an instant guaranteed approval. It targets those with bad credits. Initial credit limit is $500.00, which means that one has to start rebuilding a good credit history to avail of a higher credit limit in the future.

These are just some of the unsecured credit cards with bad credit being offered, but one can notice it immediately that there really are just a few of them. This means taking so much risk for the card company but the good thing in here is they have the intention of giving those people with bad credit a fair chance – and that is to help them start rebuilding a good credit standing. A good credit standing will show a good credit score and later on a good credit report which will really be beneficial to them in their life.

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