hat exactly are bad credit credit cards? These credit cards are design especially for people with bad credit who need to re-establish their credit. Most persons applying for this type of card need to first decide between a secured or unsecured credit card. A decision on whether to choose a secure or unsecured credit care is dependent on many factors, chief of which is the stability of your income.
A secured credit card is issued based on a deposit being given to the issuing body. In many instances the credit limit on the card is slightly lower than the deposit or the same. An unsecured credit card on the other hand is not tied to any collateral given to the bank. When an unsecured card is issued to someone with bad credit other fees may come into play, it is there important to check out what the catch is.
Like with all other types of credit cards, bad credit cards can be compared based on APR, annual or monthly finance charges and whether or not you can get periodic credit increases.
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