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May 24, 2001
By
Arlene Martell
Website:
http://www.1st-free-credit-cards.com
>
Guaranteed approval credit card offers no risk
Many times, the credit card Company will determine that the consumer has some degree of risk and may only offer a guaranteed approval credit card. When determining risk, they look at employment income, current debt and credit rating. If you have bad credit for any reason, a guaranteed approval credit card may be your only option.
A guaranteed approval credit card is a secured credit card meaning you cannot spend more than you place on deposit. There is no risk to the credit card Company, as they are not extending you any credit. A secured credit card is a great starting place to re-establish credit or get credit started.
The application for a guaranteed approval credit card is the same application for any credit card. The secured credit card will still have fees attached for use of the card and terms vary widely between companies. Students who want credit will often receive this type of secured credit card. The benefits of having a guaranteed approval credit card is that it carries the credit card name like Visa or American express and can be used to book travel or car rental, or make purchases on the Internet.
For
more information on guaranteed approval credit card - click here!
> About The Author:Arlene Martell is a successful author and the
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