Credit card with poor credit history

The credit card is given to the people as the method of the payment. The user of the card makes the revolving account and give a line of credit to the holder. Then the card holder can lend the money to pay to the merchant or as advance cash. The people are able to apply for the credit card who possessed history of bad credit. For the repair of the bad reputation many companies give chance. These companies give the card of the people who cannot get them from any place. The person with the poor credit card history can apply for the poor credit card. He can also remove the tag of bankruptcy to apply here. There are types of cards but two card products are very common.

Unsecured Cards

To get this card there is no need to deposit anything as a security. It is very expensive card than others. The unsecured card holders does not give any security so they have to pay the high charges. Some are ongoing and the others are upfront. The people with the bad credit have to pay the expenses which are related to the credit card. They have to prove that they can pay the charges and fees before the approval. To give the proof, the applicant has to give his salary to the lender. The lender can reject the application if he finds something unsatisfactory.

Secured Card

In this type of card the person has to deposit some money as a security. The secured card has lower interest rates and charges as compared to the unsecured card. The card holder cannot pay the withdrawal amount, charges and interest rates. The lender can use the deposited amount.

Important things for credit card with poor credit history

• The reason to apply for the secured or unsecured card is just to rebuild the reputation as well as to repair the credit.
• When person gets the credit card he has to pay the charges and fees on time. He has to try to keep the balance as low as possible. The lender gives the card with the better limit and the less charges if he paid charges and fees on time.
• The most important thing here is that the person with the no source of income or the unemployed they have to face difficulty to get the card with the bad history credit. The lender has to check the financial condition of the applicant.

Benefits to the card holder

The main benefit is the convenience for the card holder. The credit cards permits the small short term loans and provided the total charges which are not exceed the limit for the card as compared to the debit card and checks. The different countries give different levels of protection. For the purchase of the defective products over the 100 Euro the bank is liable with the merchant in UK. Many cards give the reward and benefit packages just like at no cost the enhanced product warranties.