Can A Guaranteed Approval Credit Card Really Help If You Have Bad Credit?

Once you get into a situation where your credit is no longer recognized as being acceptable, you begin to find that it can definitely put your life on hold. You need some way to be able to start rebuilding your credit and you are wondering how. Although there are more ways than one, one effective way is to get a guaranteed approval credit card. Here is how it can help you get a better credit rating.
When looking for your guaranteed approval credit card, you need to be aware that they are different from regular credit cards. They pretty much work the same way, but are made to ensure that the credit card company is at a place where it can minimize potential loss.
In order to do this, they place a number of fees on your guaranteed approval credit card. These will already be on the card when it is issued to you, and will then leave you with a minimum amount of room to be able to charge anything. In fact you may be able to charge about $100 – and possibly even less for your first bill. Some of these cards will give you a little more room to charge more.
Compare the rate of interest on the various offers for your guaranteed approval credit card. These are generally higher than most other credit cards – again to minimize their risk. Typically it will be above 19%. Of course, this is hardly competitive for a regular card, but if you can endure it for a while, your credit rating will slowly improve and soon you will have better offers come your way from the same company.
Be sure to look at all the fees that apply to the new card. The reason that it is called a guaranteed approval credit card is largely because of the fees that apply. Another one you will have to contend with is the annual fee, which will usually be more than $125.
An alternative to a guaranteed approval credit card is a secured credit card – but it will cost you even more. The expenses for this kind of credit card come from the fact that you will have to open a savings account that is usually equal to the amount of your credit limit. So, you can see, the guaranteed approval credit card is the cheaper of the two ways to go.
One very important thing that you must find out before you apply for your new credit card is if they report to the credit bureaus. This is a must, because if they do not, then it cannot help you at all. Regular reporting means that you can raise your credit rating as long as you make your payments on time – every time. Also, keep in mind the hefty interest rate – paying on time will also save you some money, too.
Before you sign on to any such deal, though, it is always a good idea to check out the company that you are dealing with for any business. Many new companies are fraudulent, and, for this reason, it may be a good idea to stick with the major name companies.

Joe Kenny writes for NationsFinance, offering views on UK credit card offers, visit his new site today for more credit card comparisons and related information. Visit today:

Guaranteed Approval Payday Loan ? Short Term Solution for Fast Cash

A guaranteed approval payday loan is the best way to get out of a sticky financial situation. You may find yourself in a situation where you have to cough up a few hundred dollars to pay off some bills like electricity or rent. Your payday is still a few weeks away and you have no cash whatsoever to pay the bills. What will you do? You could borrow money from a relative or friend. You could take a bank loan which will take days to receive and months to repay. The only other way is to take a no fax guaranteed payday loan. Why Take A Payday Loan

The guaranteed approval cash advance is preferred by many because of many reasons. It is easy to apply for a payday loan. You just need to fill in some details like your employment status, current monthly income and your checking account number. Once that is done you can submit the form online. The approval is quick and you can have your approval within an hour and your cash within a day.

You do not need to have a perfect credit history to get a bad credit guaranteed payday loan. Since there is no credit check conducted, you can get a loan even if you have a history of bad credit. This feature makes it easier for more people to take payday loans.

Some companies may require you to fax papers like payment stubs before they approve your loan. Most companies however have a no fax policy and you can get an approval even without having to fax any papers to them. Short Term Solution

A guaranteed approval payday loan is perfect if you need a loan of a small amount of money. It is usually granted for amounts ranging from $100 to $1000. The loan period is short term as you have to repay the loan on your next payday. You can request for an extension of the loan but that is not a good idea as the fees for an extension is calculated on a daily basis. You may end up paying much more than you borrow.

In a personal unsecured guaranteed payday loan you need to be careful of the fees and interest rates attached to it. If you are careful you can save a lot of money by finding the company that charges the lowest fees and interest. Once you do that you will find that the guaranteed approval payday loan is the best solution for you.

To get a guaranteed approval payday loan, you do not need to have a good credit history. The approval of personal unsecured guaranteed payday loan is guaranteed within a few hours once you provide all the required information. You need not even fax any documents for taking a no fax guaranteed payday loan. Visit guaranteed payday loan for more information.