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Bad credit credit cards are created for people who have either a bad rating Cheap Matty Willock Jersey , a poor history or no history (such as a young adult), and as a result have experienced problems when applying for a standard card, that have resulted in their application being rejected.


There are many factors that can cause a consumer to have a low score, including loan defaults, bankruptcy, CCJ’s Cheap Matteo Darmian Jersey , failure to pay their bills on time, missed payments and mortgage arrears.


Despite their credit problems, these people would still benefit from the use of a card to carry out every day transactions, such as paying for products in stores and online, paying their household bills and hiring a car. Companies understand this, and are still willing to offer these people cards Cheap Marouane Fellaini Jersey , in the form of bad credit credit cards.


Although many of the functional uses of this type of card are the same, there are slight variations from a standard Visa or MasterCard. Depending on how high (or low) the person’s score is, they may be offered either a secured, unsecured or pre-paid card.


An unsecured card works in largely the same way as a regular card, but the major difference relates to the interest rate – known as the annual percentage rate (APR). Whilst a standard credit card usually offers the customer an APR of between 5 percent and 25 percent, this type will often carry a rate of 30% APR or above. The reason for this is that the customer represents a higher risk to the issuing company.


A secured card works in a similar way to an unsecured Cheap Marcus Rashford Jersey , but the cardholder will also be required to make an initial deposit or bond, as security against the card. They will then be issued a limit to the same value as this bond. If the customer misses payments, fees will be deducted from their bond, but if they manage their account well the bond will be returned at the end of the agreement, often with interest added.


With both a secured and an unsecured card there is the possibility of re-building your score if you manage your account well. There are three national credit bureaus in the USA, and if you are considering applying for one of these types of bad credit credit cards Cheap Marcos Rojo Jersey , you should check that the card issuer will be reporting to the bureaus on a monthly basis.


The final type of bad credit credit cards are pre-paid cards. If you are rejected for both a secured and an unsecured card, you may be offered one of these instead. These are used in a similar manner to a checking card, as you have to add funds before you are able to use it.


Funds can be added in a number of ways, including at a designated