Obtaining an Unsecured Credit Card
What is an Unsecured Credit Card?
An unsecured credit card is a card that you don't have to put up money or deposited money into an
account to get one.
Who Can Get a Unsecured Credit Card?
Anyone can apply for this card but not everyone will be approve.
Steps to Obtaining an Unsecured Credit Card
Step I
1) Get a sheet of paper and pen
2) Start looking for companies that issue unsecured
credit cards and inquire about it.
3) Check financial institutions such as banks and
credit union to see if they offer that type of
card
4) Get contact information so you can contact each
one of them
5) Document everything you find
6) Once you get a list of places that offers this kind of card, create a separate sheet for each one
7) Contact them. I believe calling them is the best way to contact them.
8) Tell them you are interested in getting a credit card from them
9) Inquire how their cards works
10) Ask about fees, interest rates and charges
11) Ask about their secured credit cards and how they work
12) Do the above things for several places or banks that offer this type of credit.
13) Compare
14) Choose the credit card company
Step II
1) Contact them and ask them to mail you a credit card application
2) Fill out the application completely
3) Mail the application
4) Wait for the results
5) If you are approve you will get a card
6) If you are not approved you will get a letter explaining why.
Any Fees and Interest Rates Associated With Unsecured Credit Cards?
Yes, there are so many fees and interest rates associated with having this type of card.
Please be very careful when dealing with fees because they can cause you a lot of money.
Fee and Charges are:
1) annual fees
2) application fees
3) interest rates
4) over the credit limit fee
So shop around to see if you can waive any of these fees or get a lower interest rate.
How Do Unsecured Credit Cards Impact Your Credit?
Using this type of card can have either a positive or a negative impact on your credit.
Using only a small percentage of your credit limit will have a positive impact (keeping your balance less than 35% of the credit limit).
Using more will have the opposite affect on your credit.
Since you understand Unsecured credit card now click next page to learn about Secured Credit Card.
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Hi, I'm Abbie.
Your financial
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