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Bad credit cards - unsecured credit cards for consumers with bad credit card

Sun Jun 8, 2008 06:06PM | By Tony

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Unsecured bad credit cards represent a perfect credit repair tool for consumers with bad credit. Also excellent way to establish credit for many, these credit cards are offered by several banks.

For someone with less than perfect credit, the South Dakota based First PREMIER Bank offers reasonable terms with 9.9% annual rate on purchases, the minimal initial credit limit of $250 and the initial following fees billed to the first statement - Annual Fee of $48, Account Set-Up Fee of $29, Program Fee of $95, Monthly Servicing Fee of $7, and an Additional Card Fee of $20 per card if issued. Read the disclosures carefully to understand other potential fees, fines, etc. Eligible for credit limit increase in 6 months. Apply here.

Centennial MasterCard is another bad credit unsecured credit card from First PREMIER Bank. Quite similar to the previous offer

Continental credit card is a good choice for bad credit repair. Issued by First Bank of Delaware with APR ranging from as low as 9.75% to as high as 19.92%, this unsecured card comes with Account Processing Fee of $200, Annual Fee of $25 and annualized Account Maintenance Fee of $144. Monthly reporting to credit agencies and semi-annual credit limit increases. Apply here.

Orchard Bank credit card for bad credit consumers has variable rate in a range of 8.9%-14.9%. Issued by HSBC Bank, it is designed for those with an average or a limited credit history who do not wish to secure a credit card account with a deposit. Offers variable 8.9% APR for credit card purchases. The Annual Fee is charged at a rate between $5 and $8 every billing cycle as a Periodic Membership Fee. The total annualized amount is between $60 and $96, depending on your credit. A Processing Fee between $19 and $49 could apply, also depending on your credit. It reports to Equifax, TransUnion and Experian, so makes perfect sense for someone who want to fix bad credit or establish a new credit history. Apply here.

The terms of this bad credit card are rather rough. The card, depending on credit eligibility, is offered in two Gold MasterCard flavours - the "$300 Card" with a credit line of $300, annual percentage rate on purchases of 19.50% and the "$70 Card" with a credit line of $70, annual percentage rate on purchases of 14.99%. The "$300 Card" requires an initial minimum payment of $30, while the "$70 Card" requires a one-time Account Opening Fee of $20 leaving you with little credit left. Other fees are applicable. Apply here.

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