Credit cards with guaranteed approval can be obtained online. These credit cards are also called secured credit cards because they require the cardholder to submit cash deposit upon opening the account.
Whether you have bad credit history or no credit history, you can surely get approved for one. But before signing up and submitting your online application, here’s what you should do:
1. Don’t make decisions hastily.
Even when you need a credit card in a hurry, you should spend time comparing your choices. Remember that you are guaranteed to get an approval so you want to make sure that it’s the credit card you want.
2. Don’t submit too many credit card applications.
Too many inquiries from different issuers raise doubts about your credit worthiness. Don’t try your chances by submitting multiple applications to credit card companies at once.
3. Prepare a repayment plan.
Because it’s a secured credit card, you can expect to get approved right away. However, have you thought about how you plan to manage your account? Have made adjustments on your spending habits to avoid uncontrolled debt?
4. Consider other options.
You may also use a department store credit card or a gas station credit card to rebuild your credit rating more quickly. These credit cards can be used for purchases but you are expected to pay your full balance each month.
5. Be determined to pay off your balances completely.
The best way to rebuild bad credit is to use your secured credit card regularly. Avoid the interest rate by paying in full and making your payment on time. Before using your card for any purchase, think about your repayment plan.
6. Read the contract before signing.
Issuers of secured credit cards have different terms and conditions. Don’t assume that what you read from one company’s page will be the same as the others. Aside from the fees and interest rate calculations, you want to pay attention to the disclosures and limitations.
About the Author
Tara Tiemann is a credit analyst for Go-prepaid.com which has been a resource site for people who want to live debt free. If you are on a budget using prepaid debit cards,prepaid credit cards and prepaid cell phone service can save you big money!