Guaranteed Credit Cards for Those with Questionable Credit

When your credit is less than perfect - or even if it downright sucks - applying for new credit can be worrisome because you know it's possible that you may not get approved. With guaranteed credit cards you don't have to worry about getting declined because you are guaranteed to get an approval.

The best guaranteed credit cards to apply for are secured credit cards. Secured credit cards will require no credit check and as long as you can fund the card you'll be good to go. The minimum is usually at least $200 but will depend on the card.

With guaranteed credit cards that are secured, the money you put up front to get the card will also be your credit limit. For instance, if you send the credit card company/bank $450, then the $450 also becomes your credit limit.

Most secured cards will report to each of the three credit bureaus each month which can help you in rebuilding your credit. After you have demonstrated that you are responsible with your credit card, sometimes companies will change it over to an unsecured credit card and you'll get your deposit back as well. The specifics will depend on the company and some companies will not graduate you to an unsecured card.

A couple of well-known companies that offer guaranteed credit cards that are secured include Orchard Bank and First Premier Bank. You can also check with local banks or a bank that you currently work with to see if they have secured credit cards.

The other option you have for guaranteed credit cards is unsecured cards. These are tougher to get than a secured card but all you need is some collateral. The best place to check for unsecured cards is with your local bank. This will make it easy to work out the conditions of your credit card and working out the details concerning the collateral.

You can also check online for guaranteed credit cards that are unsecured as well. Just be aware that if you're applying for an unsecured credit card that companies will be checking your credit report upon sending in your application. If you apply too many times you can quickly start to lower your credit score which is probably not what you want - at all.

The convenience of having a credit card is undeniable. They can be used in emergencies, to pay monthly bills or even to make purchases online. It's important to be very responsible with any type of credit card because they can help you increase your credit score quickly.

Guaranteed credit cards are the perfect stepping stone to help you get your credit back on track. In just a few short months you can drastically improve your credit by making payments on time and making sure your bill is paid in full each month.

The extent with which you're able to improve your credit history and score will also depend on what you have going on with your report already. If you have outstanding debts it may not help as much as you'd like, but it's still important to make your monthly payments on time every month.