{"id":9362,"date":"2008-12-23T20:48:50","date_gmt":"2008-12-24T02:48:50","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/12\/23\/subprime-credit-card\/"},"modified":"2008-12-23T20:48:50","modified_gmt":"2008-12-24T02:48:50","slug":"subprime-credit-card","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=9362","title":{"rendered":"Subprime Credit Card"},"content":{"rendered":"
by Dan Moskel<\/div>\n

These credit<\/a> cards have been designed to give you a second chance with your credit. It is for those with a low or damaged credit score.<\/p>\n

Used responsibly these cards will create a positive payment history and improve your ratio of available credit to debt. Frequently these cards are used to repair a damaged score.<\/p>\n

These two factors are heavily weighted on your credit score. Improving them you can achieve a high score even with negative items on your report.<\/p>\n

These cards will report to the major credit bureaus. They will come with an APR around 19% and will have an annual fee. However the benefit of improving your score will offset the high price of a low credit score.<\/p>\n

Most of these cards come with a $300 credit limit. However some cards such as the Tribute MasterCard will also approve individuals for a $70 credit limit and many will offer periodic limit increases.<\/p>\n

These cards will help your score more that a secured credit card. This is because a secured card is reported to the bureaus as a secured account and will not impact your score as much as an unsecured account.<\/p>\n

You should still try to remove derogatory items from your credit report. However you should know that once a derogatory item ages for four years then it will have much less weight on your score.<\/p>\n

For you to get the most out of your card you should strive to keep the monthly balance at 25% of your credit limit. This is because it shows the bureaus that you are using your card responsibly and that you do in fact use your card.<\/p>\n

You can still get approval for a sub prime card even with; charge offs, collections, judgments, and even a bankruptcy. However each card has different approval requirements. Many of them will give you an instant decision upon submission of your application.<\/p>\n

In sum if you have made mistakes in the past with your credit and want a second chance we suggest a sub prime card. It can improve your ratio of available credit to debt and build a positive payment history.<\/p>\n

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About the Author:<\/div>\n
For more about bad credit credit cards<\/a> or for a review of the prepaid Account Now Visa<\/a> visit us.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

These credit cards have been designed to give you a second chance with your credit. It is for those with a low or damaged credit score.<\/p>\n","protected":false},"author":2307,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[77],"class_list":["post-9362","post","type-post","status-publish","format-standard","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/9362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/2307"}],"replies":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9362"}],"version-history":[{"count":0,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/9362\/revisions"}],"wp:attachment":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}