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July 12, 2001
By
Mariam Durrani
Website:
http://www.1st-free-credit-cards.com
>
Secure credit card guidelines
Most companies will determine whether they should issue a secure credit card or not based on the information you provide in your credit card application. A secure credit card is issued when the applicant has fair/poor financial standing.
Check to see if you’ve had a good credit record for the last 6 months or so. Any liens, judgments, bankruptcies that have not been dismissed or discharged; unpaid debts that show up will result in a rejection. Unstable housing, income and employment are contributing factors that the company will consider when deciding if you should have a secure credit card or not, and whether you’ll need to put down a deposit, and how much the credit limit can be.
There are examples of companies who ask for a deposit 3 times the amount of the credit line, there are others who have a minimum and maximum for the deposit and make the credit limit equal to the deposit. Still other companies that can issue a secure credit card, like Capital One, ask for a smaller percentage of the credit limit ie. $95 for limit of $500.
Keep in mind that a secure credit card is the right way towards re-establishing your history. So if the conditions are tough, it’s worth it. Scams claiming that anyone in any situation can get a credit card or loan are obviously unrealistic and have ulterior motives.
For
more information on secure credit card - click here!
> About The Author:Mariam Durrani is a successful author and the
publisher of http://www.1st-free-credit-cards.com. A resource for the credit card industry featuring information on free Visa, Mastercard, student, and secure credit cards. *Webmasters,
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