Blog

By David

With the economic downturn as bad as ever, credit card companies are being more selective than they ever have about who they’ll give a credit card to. If you are one of the many who have bad credit or who have not even started building credit yet, you may find that obtaining a credit card can be a difficult and challenging endeavor. While there are plenty of cards out there to apply for, there are those that will bring you more success than others. Below we will show you a few different ways to find a credit card for no credit.

Click here to compare credit card offers and save hundreds. Compare multiple lenders in one place.

Prepaid cards

While using a prepaid card is not going to repair or build your credit, it can be a good option for those struggling to obtain a credit card. If you just need the card for online purchases, a more efficient way of carrying or managing your money, or to initially learn how credit cards work and how best to use them, than a prepaid card is a good choice for you. The prepaid option is one of the easiest ways to find a credit card for someone with no credit. Just sign up online and deposit the amount of money you want on the card to get started.

Bank credit cards

Many banks will offer credit cards to their account holders that are easier to get approved for than credit cards you try to get on your own merits. These cards typically have a slightly higher annual percentage rate, but are also attached to your online bank account making your credit card payments a quick and easy, hassle free process. If you need to use a credit card to repair or build your credit you will want to start by applying for a credit card from your bank before exploring other options.

Click here to compare credit card offers and save hundreds. Compare multiple lenders in one place.

High interest credit cards

If you have been turned down for other cards due to extremely bad or no credit, this may be your best option. Many card companies use these high APR cards with relatively low credit limits as a part of credit recovery programs intended to help people restore severely damaged credit. These are arguably one of the worst credit cards to use, but in some cases may be among the only options when trying to find a credit card for no credit.

Choose a card and apply

Once you have decided between the different types of cards available to help find a credit card for someone with no credit, you will want to go ahead and apply. As is often the case with bad credit or no credit, you may be turned down several times, but do not get discouraged. If you do not get the first one you apply for, try a few others. There are many different programs available, each with its own set of rules for whom to issue cards to. Odds are that eventually you will find a lender who is willing to extend a line of credit to you.

Click here to compare credit card offers and save hundreds. Compare multiple lenders in one place.

By David

Though there are many types of credit cards available to consumers these days, the credit card with rewards that are available are arguably the most exciting. These cards give you something back simply for using the card and so long as you pay your whole balance within the grace period; your rewards are interest free. So what kind of rewards are we talking about? There are actually three different types of rewards programs that have become prominent in today’s credit card market.

Click here to compare rewards credit cards. Win rewards, pay no annual fee, and sign up for 0% intro APR offers.

Travelers Miles

One of the most common rewards programs available, and the one that has been around the longest is the frequent flyers miles programs. Often, these will be associated with a specific airline, which does restrict in a small way your ability to redeem your rewards. Even so, some cards offer a broader spectrum of airlines to choose from and even a few introductory perks like a large number of bonus miles after your first $1,000 in purchases over the course of your first 3 months. For a frequent traveler this can be one of the best credit cards with rewards.

Thank You Points

Another interesting type of credit card with rewards is the thank you point rewards cards. With these you typically will earn 1 point for every dollar spent on your card and will usually earn a large number of bonus points after spending a qualifying amount on your card in your first few months of using it. Each card has an associated online store where you can redeem your points for different types of merchandise, gift cards, and sometimes even cash. This flexibility makes the point rewards cards among the most versatile of the credit cards with rewards.

Click here to compare rewards credit cards. Win rewards, pay no annual fee, and sign up for 0% intro APR offers.

Cash Back

The final type of rewards cards and one of the newer available programs is the cash back rewards card. These cards will earn you cash back on many or sometimes even all the purchases you make on them and like the other programs have an introductory offer of usually around $100 for spending a qualifying amount in the first few months. Often times these cards will offer 1% back on all purchases and occasionally 2% on groceries and 3% on gas up to a certain amount each quarter. While not as versatile as a point rewards card as far as what type of reward you can claim, getting a percentage of your money back is always a nice perk. Some of these cards will even offer a little bonus on the amount redeemed (10% or so) for redeeming it to an account you have with the lender. This card is a great option for anyone looking to get a little extra cash back from their everyday spending.

Now that you have a good idea of what is available out there as far as credit cards with rewards go, you can pick your favorite type and start searching for the specific card that meets your needs. The options are numerous, so it is up to you to decide what works best for you.

By David

As each of us use our credit cards, we become more and more familiar with the credit card system. However what many new credit card users may not understand is why their credit cards monthly payments are so much lower than what they have spent. To help make this easier to understand we’ll take a look at how credit cards work and what that all adds up to.

Click here to compare credit card offers and save hundreds on monthly payments. 0% APR, travel rewards, and more. Free comparison tools.

How a credit card works

A credit card is essentially a means of getting a loan whenever you need or want one. Once you have a credit card, you don’t need to apply for it again, giving you access to additional funds above and beyond your normal income. This money is borrowed from your lender and your future income is used as the collateral. As with any loan, a credit card will charge you interest on your borrowing. The amount of interest charged depends on your cards APR (annual percentage rate) and can vary widely ranging from 8% all the way up to 22% or more.

Interest calculation and minimum payments

The combined value of purchases made with your credit card becomes what is called principle (the amount which interest is charged on). Interest is charged on the principle every day and is then added to the principle meaning that the interest charged on day 31 is going to be less than that charged on day 34.

Your minimum credit card monthly payment is based upon the total balance on your card and tends to vary. However, you should keep in mind that credit card companies are very crafty and set up your minimum payment so it is mostly the interest you are being charged and hardly any principle. This is their way of making the most money from the borrower as possible.

Strategy for avoiding prolonged debt

The best strategy for avoiding continual, prolonged debt on your credit cards is to pay more than the minimum on your credit card monthly payment, preferably as much as you can afford. In this way you are paying not only the interest, but also a larger chunk of the principle thus reducing the amount of interest being charged and allowing you to catch up on your payments. If you do not already have debt built up on your credit cards, one of the best strategies to avoid any significant debt is to only purchase on your credit card what you presently have money to pay for. This allows you to build credit and take advantage of card rewards programs, while still bringing your card back to a $0 balance right away. The best part about this strategy is that it takes advantage of the 30 day no interest grace period inherent on all credit cards.

Click here to compare credit card offers and save hundreds on monthly payments. 0% APR, travel rewards, and more. Free comparison tools.

Now that you have a firmer understanding of how your credit cards work and what your minimum payment is and what paying only it can mean for your financial future, you can make informed decisions about your credit card monthly payments.

By David

There are so many various options these days when it comes to trying to find the right credit card that it can be difficult to decide which one to go with, or even to know where to begin. To help with this process, we have compiled a list of the best credit card from top lenders and what makes them so great.

Click here to compare credit cards from top lenders and banks. 0% APR, awesome rewards, and free comparisons.

1)      Visa – Arguably one of the most prolific card issues in the world, Visa has a huge number of possible card options for any of your needs. This is a result of their primary issuing method being through banks and other financial institutions, bringing great variety in what they have to offer. Combine this with the fact that Visa is accepted almost everywhere and you realize why they’re on our list of top credit card lenders.

2)      Mastercard – Nearly as prevalent as Visa, Mastercard is widely accepted and widely used. Though Mastercard does not issue cards directly, but rather does so through your bank, they function as an overseer to make sure everything is running smoothly. Many would argue that they do well with this as they have become one of the top credit card lenders in the world.

3)      American Express – Though the American Express brand is not as widely accepted throughout the world as Visa or Mastercard, they still find their way on our top credit card lenders list. This lower acceptance rate is a result of their higher fees. These higher than average fees however come with additional exclusive features that make this brand of credit card a good option for those burdened with an overabundance of money.

Click here to compare credit cards from top lenders and banks. 0% APR, awesome rewards, and free comparisons.

4)      Discover – While not as large as the other three lenders Discover still manages to be a popular and widely accepted credit card. Unlink Visa or Mastercard, Discover issues its cards directly rather than through banks, meaning they have a more limited line of cards to choose from. This independence as a financial institution however also gives them unique options to offer to its customers, like high interest certificate of deposit accounts and other investment features.

Though these are certainly not the only lenders out there, these are arguably the largest and best of the bunch. Most still have quite a few different products to choose from, designed to work well for all types of people in various situations, locations, and with different needs. The card selection process can be a long and arduous one, but armed with the knowledge garnered above you can at least know where to start looking for a credit card from a top lenders.

By David

So you are getting ready to head off to college with all its new experiences and new challenges ahead of you? If you have been considering getting a credit card, you may be confused about what kind is going to be best. To help you in your quest to find a credit card for college we’ll tell you a little about a couple of different types of credit cards, and why they may be of interest to you.

Click here to compare 0% student credit card offers. Free comparison tools, great rewards, the best cards in one place.

Prepaid credit cards

Though not credit cards in the traditional sense, prepaid cards work in much the same way. In order to use them you must first load money on to them. This amount sets your “credit limit” and cannot be exceeded. The advantages of this type of credit card are many, making it a great credit card for college.

1)      Learning – The point of college is to advance your education, and while credit card use may not be in your college’s curriculum, it is a vital life skill that needs to be learned. A prepaid card lets you do just that, spending at stores, online, or wherever your card company is accepted. The great advantage however is that it sets your family up as the lender rather than your card company. Allowing you to learn from your mistakes without paying for them (literally).

2)      Security – As with any credit card, a prepaid card offers you security when shopping online or in the case of a lost or stolen card that far exceeds that of a debit card or cash.

3)      Easy Money Transfers – In the event of an emergency where you need extra money quickly a prepaid card can be used as a medium to speed up this process. Rather than having to wait till morning to deposit money into a bank account, or driving all the way to a student’s location to deliver cash, a family member can just hop on their computer and deposit funds from their bank account directly to the student’s card account.

Low interest credit cards

This type of card works like a normal credit card except that it has a lower than average APR (annual percentage rate) that typically falls around 10.4% This lower rate means that you pay less interest over time on your purchases. This advantage over a regular card is what makes this another great credit card for college.

1)      Emergency Line-of-Credit – In the case of a sudden emergency outside a student’s present means a low-interest credit card can be used to get them what they need without costing them more in interest than they can quickly pay back.

2)      Gentler Life Lessons – Knowing that we all eventually make mistakes and that it’s just part of the learning process you can take some comfort in knowing that overspending one month isn’t going to bankrupt you for life.

Choose a card that is right for you

Now that you know what your best options are, you can make an informed decision about getting a credit card for college.

Click here to compare 0% student credit card offers. Free comparison tools, great rewards, the best cards in one place.

By David

How to compare credit cards when you have so many options and confusing jargons to deal with. With so many different and varied types of credit cards available today, it is a wonder that anyone can find one that is right for them. In fact, the list of possible cards is so massive that to attempt to compare cards in just a few pages would be absurd. In recognition of this fact it seems more sensible to show you, our readers how to go about comparing credit cards so you can find one that is a good fit for you.

Click here to compare low APR credit cards with cash back rewards, travel points, and more. Free comparison tools.

Types of credit cards

1)      Prepaid Cards – A prepaid credit card varies somewhat from other credit cards in that you pay it before making purchases rather than after. Because this makes you the lender there is no interest for its use and it does nothing to build your credit. However these cards have all the security of a normal credit card and a spending limit set by how much you pay into them, making them a great option for online shopping.

2)      Low-Interest Cards – A low-interest credit card works in much the same way as a standard card except that it has a lower than average interest rate (usually around 10.4%). These cards are great for balance transfers from higher interest cards and for using as a means to paying for something large in an emergency.

3)      Rewards Cards – As you compare card you’ll want to check out the rewards cards that are available. These cards, though they have a higher APR (annual percentage rate) than a low-interest card, offer extra perks like frequent flyers miles or cash back just for using them. They are great to use for everyday purchases so long as you pay them off before the end of the grace period allowing you to reap the rewards interest free.

4)      High-Interest Cards – These cards are designed as a way for those with bad or no credit to start making some positive inroads. They have higher than average APR and low credit limits. It’s best to go with this type of card only if you’re trying to build or repair your credit.

Interest Rates

Once you compare card types you’ll want to take a look at the APR of your front runners. Obviously you’ll want the lowest possible APR you can find to make certain that you are not paying more on your purchases than you have to.

Introductory rates and fees

The final consideration is going to be the introductory program (if there is one at all) and any fees attached to the cards use. Introductory programs can be nice, but the APR you ultimately end up with should be of greater concern. Similarly while certain rewards or a low continual APR can be tempting, they are sometimes not worth an annual fee, when other cards are just as good and do not have the associated fees.

Now that you have an idea what to look out for, you now know how to compare credit cards and come up with the ones that are right for you.

Click here to compare low APR credit cards with cash back rewards, travel points, and more. Free comparison tools.

By David

College credit cards may not be the next fashion statement, but as anyone who has had a taste of life on a college campus will know, there are times when you have more money than you need, and times when even a package of noodle soup is an expensive proposition. To help ease this disparity and provide a way for students to pay for emergencies many colleges have begun to offer credit cards to their students. This has generated controversy as some suggest that a college credit card is a necessary tool for students, while others believe they are an early path to debt slavery.

Click here to compare 0% APR student credit cards and save money. Win cash back rewards, travel points, and more. Free comparison tools.

Risks

There are those who believe that college credit cards are little more than a means to trap the next generation in early debt. With most students already incurring thousands of dollars in student loans each year, it does raise legitimate concerns about a student’s ability to pay off their debt once they are out of school. With students out on their own for the first time, the chances are high that they will want to spend more money than they have, and if they have a card they will have the means to. With the temptation to overspend so great, those without a high level of discipline may want to reconsider.

Rewards

Despite their dangers, college credit cards do offer benefits that make them worth considering. The use of a credit card in college, allows students to begin building credit before they leave school. Additionally credit cards include security features that are simply not present with a debit card or cash that actually make them a safer spending option. Combine these facts with the knowledge that a credit card will allow a student to get groceries, or pay a large bill in an emergency while reaping extra rewards like cash back on all their purchases, and the rewards seem to begin outweighing the risks. If you believe you have the discipline to use a college credit card the way it is intended to be used, than you may wish to consider applying for one.

Things to look for

If you have decided that the rewards are greater than the risks and you would like to try and find a card that is right for you, there are a few features you will want to try and get on your card.

1)      No Annual Fee – Unless the interest rates are too good to pass up, or the rewards make a card with an annual fee worth having, try to find one without.

2)      Low APR – The lower the interest rate you can find the better off you will be, especially if you intend to use the card primarily for emergencies

3)      Useful Rewards – It is always nice to get something back and even more so when it is something you can actually use. Cash back is one of the best rewards options, as it is always good to have a little extra cash.

Hopefully, you’ll heed the above advice and cautions in order to make your experience with a college credit card a pleasant one.

Click here to compare 0% APR student credit cards and save money. Win cash back rewards, travel points, and more. Free comparison tools.

By David

Card payment is not just a ritualistic chore. Most all of us these days know how to put purchases on our credit cards and even how to pay those purchases off when we get our statement at the end of the month. However, what many do not know is that there are some other — often times more convenient — methods for making a card payment.

Click here to compare low interest credit cards and save on your monthly bills. Compare the lowest APR credit cards using our free comparison tools.

Send a check

This is the method you are likely most familiar with. You get your statement at the end of the month, sit down with your checkbook, fill out a check for the appropriate amount, and then seal, address, and stamp your envelope before finally sending out a card payment. This method, while familiar takes a fair amount of time out of your day and can take a few days to arrive meaning your card company may try to charge a late fee. While these fees can be removed with a phone call to customer service so long as the payment was postdated before your due date, it is more time wasted and an extra hassle none of us need.

Over the phone

A new option for making a card payment open to bill payers is to call customer service to make your payment. This approach has a few advantages over the traditional method. First and most notable is personalized service from an actual person. They walk you through the process and help you make your payment, even offering time saving options for future payments like saving your information. The other great advantage is the flexibility in how and when you can pay. You can still pay with a check if you prefer, or you can use your debit card instead; and with everyone owning a cell phone these days you can literally do this from anywhere. So if you find yourself at work and realize you forgot to send out that card payment, don’t worry. You can call on your break and make a payment right over the phone in a matter of minutes.

Online

The last and arguably the best option available for making a payment is the online method. Every credit card company has a website that you can use to access your account, see a list of transactions, and make a card payment. The best feature of this method is the ability to save your payment information once you’ve entered it the first time. This allows you to log in and make a card payment in just a fraction of the time, or even set up automatic payments so you never need to login again. The automatic payments feature, once set up will simply charge you (typically through a debit card) the minimum balance due for that month without needing any input from you. This is great for those times when you accidently forget to pay one month as it helps you to avoid late fees.

So the next time you go to make a card payment be sure to consider what method is going to work best for you.

Click here to compare low interest credit cards and save on your monthly bills. Compare the lowest APR credit cards using our free comparison tools.