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Title: Bad Credit Credit Cards
Author: Blake Hendrickson
Article:
Chances are you've gotten your share of offers for Bad credit
credit cards, Bad credit visa cards and Credit cards for people
with bad credit. Re-establish your credit with a pre-approved
bad credit credit card, regardless of your credit history, some
with low introductory rates and other perks. Many of these
solicitations urge you to accept "before the offer expires."
Before you accept, shop around to get the best deal. A credit
card is a form of borrowing that often involves charges. Credit
terms and conditions affect your overall cost. So it's wise to
compare terms and fees before you agree to open a credit or
charge card account. The following are some important terms to
consider that generally must be disclosed in credit card
applications or in solicitations that require no application.
You also may want to ask about these terms when you're shopping
for bad credit credit cards. Annual Percentage Rate. The APR is
a measure of the cost of credit, expressed as a yearly rate. It
also must be disclosed before you become obligated on the
account and on your account statements. The card issuer also
must disclose the "periodic rate" - the rate applied to your
outstanding balance to figure the finance charge for each
billing period. Some bad credit credit cards allow the issuer to
change your APR when interest rates or other economic indicators
- called indexes - change. Because the rate change is linked to
the index's performance, these plans are called "variable rate"
programs. Rate changes raise or lower the finance charge on your
account. If you're considering variable rate credit cards, the
issuer must also provide various information that discloses to
you: that the rate may change; and how the rate is determined -
which index is used and what additional amount, the "margin," is
added to determine your new rate. At the latest, you also must
receive information, before you become obligated on the account,
about any limitations on how much and how often your rate may
change. Free Period. Also called a "grace period," a free period
lets you avoid finance charges by paying your balance in full
before the due date. Click Here for a list
of bad credit credit cards.
Also Try pre-approved credit cards
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