How To Find The Right Card For You
If your credit happens to be poor, your best option would be an instant approved ‘Secured’ credit card. These credit cards require you to deposit money into the card up front. So what you actually charge on a secured credit card is actually your own money, based on the amount that you deposited on the card. Make sure the credit card company reports to all the credit bureaus, before you waste your time applying. If the card company doesn’t report, then getting a secured credit card will not help you in rebuilding your credit. Don’t bother applying for a ‘secured’ credit card if you have better credit, unless you have a child who is in high school or entering college who needs a controlled, limited amount credit card.
If you’re applying for a secured credit card, you may not be required to supply as much information. For example, for many of the secured credit card companies, they do not require your employment information. All that’s required is that if you have the cash to deposit to the credit card, the lending company won’t be concerned about verifying your employment. You will however need to have a verified bank account, as you will be electronically transferring funds to the secured credit card.
Regardless of the type of credit card you’re applying for, make sure that you are submitting your personal information on a secured online site. You’ll know if the website is secure as there will be an icon of a lock located on the top or the bottom corner on your computer screen. A secured site prevents potential hackers from being able to access your computer. If the online instant access credit card company is reputable, it will be a secured site. If the site isn’t secure, stay away.