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Credit Cards Exclusive to Online Malls

An online search for unsecured credit cards, often brings up a plethora of credit cards handed to you by dozens of credit companies offering various types of rewards including airline miles and cash back. You name it, it’s out there. If a person has bad credit, it is tough to get an unsecured credit card. The line of credit is low and the interest rate is high and in many cases a deposit is required. After performing some research, I discovered a type of credit card that allows a person with credit problems to re-build their credit while purchasing name brand products that otherwise would be unobtainable for someone with bad credit and little cash. It is an online shopping credit card or a credit card exclusive to an online shopping mall. These types of companies offer to help consumers build their credit up by shopping for products offered at the credit company’s exclusive online mall and unlike the traditional unsecured credit cards there is no credit check. They claim that everyone qualifies and is pre-approved right from the start.

Credit increases for products are offered as long as the consumer’s payments are on time. The credit card company reports account payments to the credit bureaus each month, helping the consumer re-build their credit.

Is this type of credit card right for everyone? That depends. A high risk credit card from a bank will most likely not give the consumer a big credit line up front, not enough for a large purchase, but it is enough to help them re-establish their credit and if payments are made on time, card holders are rewarded with credit line increases. On the other hand, a catalog credit card may offer a larger amount of credit right away, but limits the consumer to purchasing products from the credit company’s online mall.

Yvette Duvall is a freelance writer on various topics including finance and health and fitness.

http://www.expressgoldcard.com

Tags: bad credit, finance, pre approved credit card, unsecured credit cardbad credit, finance, pre approved credit card, unsecured credit card

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November 5, 2008 | Credit_Card | No Comments »

Use Credit Cards Online - Is It Safe

How many times will you use your credit cards online this year? During the holidays, for birthdays, for that excellent deal that you just could not get to the store to purchase. All these instances add up quickly. From time to time you begin to wonder whether it is safe to use your credit cards online.

Do You Trust “Them”?

First and foremost, you should always make sure that you are on a secure website before keying in your payment details. Make sure that you are working with a reliable merchant as well. For example, a trusted merchant, a company that you know or have used before is a relatively safe bet. If you haven’t used anyone before, you can find out if the company is reliable and safe in a number of ways - one excellent way is locating their listing in the Better Business Bureau.

Get The Facts For Online Shopping

Not sure if a website is secure or not? It can be hard to tell if you are on a secure website or not. In most cases, if the web address is written like this “https:// ” (secure) the data is better off than on a website which is ” http:// ” only. Most payment pages are through a ’secure’ connection. Without getting into too many technical details, just remember to enter credit card information only if the address has the “https://” in the URL.

How about those auction houses? Some major auction players such as Ebay provide a relatively secure buying experience - this is to protect merchants as well as the buyer. The larger auction houses on the web are an excellent location to find your product and have a good buying experience.

What about the smaller sites? There is no doubt that you’ll want to make some purchases from the smaller, more unique websites out there. You can do this safely though. If you do not want to give them your credit card information, they use a service such as Paypal. There are many other online payment services as well. In this case, you don’t need to give them your credit card information at all. You give it to Paypal. Then, they make the payment to the merchant. Why go through this trouble? If you do not receive the product you paid for, many of these companies will investigate the matter to help you out. But, even if you never do, at least the merchant does not have your credit card information.

While it may never be fully possible to have no risk involved, keeping the above tips in mind will help you to eliminate certain risks of using your credit cards online.

Happy online shopping!

Mike Singh is the publisher of http://www.my-credit-center.com/ On his website, he provides articles about 0% interest credit cards and how to get a merchant credit card account.

Tags: business, credit cards, ebay, finance, fraud, merchant accounts, online, paypalbusiness, credit cards, ebay, finance, fraud, merchant accounts, online, paypal

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October 13, 2008 | Credit_Card | No Comments »

Credit Cards for Bad Credit

Having a bad credit history will make it more difficult for you to get another card, but not necessarily prevent you from getting one. This is because many banks, if they feel that an individual with a bad credit history has good intentions to pay bills, will offer bad credit credit cards to re-establish a good credit rating.

Credit cards for bad credit fall under two catogeries - Secured and Unsecured credit card for bad credit.

With secured credit cards for bad credit, you will be required by the bank to deposit a certain amount of money that may range from a few hundred to several thousand dollars, into your savings account as security for your line of credit. Your credit line is a percentage of your deposit, somewhere between 50 to 100 percent. The bank will then issue you a card with a spending limit equal to your credit line, which will serve as collateral for use of the credit card for bad credit. The money in the savings account, or the collateral, will be used to pay the balance if you fail to pay your credit balance. It is also probable that you’ll be paid interest for your deposit but you may also have to pay application and processing fees.

As for unsecured credit cards for bad credit, the bank will not require you to deposit an amount as security or collateral. However, you will be issued a credit card for bad credit with a low spending limit that may range from a few hundred dollars to one or two thousand dollars, and very high fees. Your spending limit will also be increased if you continue to prove your ability, and good intentions of making payments in time. Make sure that the issuer reports to a credit bureau if you’re applying for a secured card to build or re-establish a bad credit record, so that a proper credit history can be built by the bureau.

When looking to apply for a credit card for bad credit, watch out for scams and deceptive ads. The Federal Trade Commission (FTC) has launched a campaign and taken action against such misleading companies and agencies. Learn to identify frauds and scams by studying telltale signs such as those offering credit card without examining your credit report, a call to a “900″ number for which you are billed (without you knowing how much), and cards offered by credit repair companies.

When applying for a credit card to rebuild credit, most of the major credit card companies such as Bank of America, Bank One, Capital one etc will be able to assist you in getting a secured credit card. This will ensure improvement in your credit history because ever payment made in time will be reported to one or two credit bureaus. You may also eventually receive an offer for an unsecured card with a significant spending limit if you continue to follow rules and pay your credit card bills and other payments in time.

http://badcredit-hq.com/ Bad Credit HQ: helping you to get your finances back under control.

Tags: bad credit, credit cards, credit repair, finance, loansbad credit, credit cards, credit repair, finance, loans

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September 13, 2008 | Credit_Card | No Comments »