Credit Card Reviews

Here you will find credit card reviews that will help you get a card that is right for your situation and circumstances. If credit cards got you into trouble with your credit, you may be surprised to learn that they can actually help rebuild your credit score by adding positive information to your credit report. If you have turned over a new leaf, there are companies out there that are willing to give you a second chance.

Some cards will require you to put a matching amount of money into a savings account, these are called secured credit cards. Others are unsecured, which means that you don’t have to send money in order to get a credit limit.

Credit Card Reviews by Type

credit card reviews

Unsecured Credit Card Reviews – These are the kinds of cards that can get you into trouble if you’re not careful. You don’t have to have a matching amount in a savings account, and the limit is set by your credit history and the individual card issuing bank. The average American has $10,000 in unsecured credit card debt, not to mention mortgage payments, car payments, student loans, and all other debt. That’s a lot of debt. Unsecured credit cards can come in handy, but only if used responsibly. You can use them to successfully build your credit, by using a small portion of your available balance and paying it off each month. This can be a thin line to walk on, so be sure you don’t spend money you can’t pay back immediately. Credit card companies make their money on balances that people keep on their cards month after month.

Secured Credit Card Reviews – These cards are great for re-establishing your credit. They will give you a credit limit that matches the amount that you put into a savings account with the bank. These amounts can range from a few hundred dollars to a few thousand dollars, and your limit will be set accordingly. If you try to go over your balance you can’t, so it’s great to have so you can learn to be in control when using the card. The banks don’t have any problem issuing these cards because if you don’t make your payments they just take the money from your savings account and reduce your credit limit by that amount.

Department Store Credit Card Reviews – These are the cards that you can get directly from a store that is offering you credit to buy a higher priced item. Many stores have them, and they are almost always partnered with a major bank, and simply labeled with the store’s logo. Typically a store will allow for a deal to be made at certain price points, for example if you spend more than $1000 there would be no payments and no interest for 6 months. The catch is that these stores and the banks they are partnered with know that people will not be able to pay off the balance within that time frame and will have to pay all of the retro-interest and fees.

Prepaid Debit Cards – These are becoming more and more popular as fewer and fewer people are able to get a credit card, and as people screw up their checking accounts and are unable to get new ones because they’re on ChexSystems. These aren’t credit cards, there’s no credit involved, they just offer the convenience of using plastic instead of carrying cash or checks around everywhere you go. Many people use them to have their direct deposits put on them and then can access their money at ATMs and use the card to make purchases at stores and online.

Depending on what type of situation you’re in, one of these credit card options would be right for you. If you’re in desperate need of cash and are looking for different options, the cost of putting things on your credit card because of an emergency can end up hurting your credit and causing more trouble down the road. Even though payday loans are expensive, they are sometimes less expensive than using a cash advance through a credit card, or overdrawing your checking account.

Go to the home page to see payday loan reviews.

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