1. Credit One Bank® Credit Card with Gas Rewards
Review #1 for the Credit One Bank® Credit Card with Gas Rewards
I have been a member for over a year. I think a pro/con list would be a better way to show the card’s benefits and downfalls.
They will approve you with fair to poor credit
The application process was fairly simple for me
The late fee is not horrendous
The interest rate is average/not too expensive
Their customer service hours are open fairly late
It will help build your credit/My score raised 42 pts since going with them
To pay with a credit card there is a charge of $9.95
To pay with bank account/e-check there is a charge of $5.95
To pay with a physical check, you have to send your payment in 10-businss days before the due date**
When you do make a payment, the payment is not available until the next billing cycle. (This may not be true with credit card payment, I think the money is available a few days later)
Customer service is poor if not horrible. Outsourced department, heavy accent, doesn’t really try to explain their policies well or maybe they do not understand them?
I have had to call customer service 4 times in the past year to get the hold taken off my credit card due to fraud activity (pretty much whenever I used it physically as a POS–never when I made online purchases, lol, go figure)
**I had set-up my bank account with autopay. My bank sent a check on the first of every month. I got a late fee on my due date, which was the 8th. I called CS and they told me that I have to give checks 10business days to post to my account. I was shocked because…mail from where I live to where they are is 2 to 3 days at most. That means it sits in some department, wanders to next department at some point, and then finally makes it to A/R? I have no idea. I ended up paying my bills 20-days early just to make sure. I didn’t want to pay the stupid “express payment” fee.
**I have since paid off my card and canceled it just this month. Too much hassle. My credit score was high enough to get a better credit card. It did help with that.
Review #2 for the Credit One Bank® Credit Card with Gas Rewards
I have had this card for 6 mos, I had like 602 CS and was approved for $500.00. After one month they raised my CL to $600.00 2 month later it went to $ 700.00 and today I got another raise to $900.00 so in 6 months I got 3 raises and didn’t asked for one of them they just showed up on my account page.
I wasn’t charged a fee and my interest is still around 22%. These low limit high, interest cards are for building your credit history NOT to live on!
If you just use the card a couple of times a month and pay in full every payment… you will get better credit. If you have a $500.00 line of credit and carry a balance of $350.00 you are using 65% of that card and that doesn’t look good to a credit company.
Just pay your bill every month.. carry no more than 10% on the card.. pay your fees for the card and your credit will improve. Mine went from 602 to 649 in 6 months with just this card.
Why you want this card:
When used carefully, this card can take you from where your credit is to where you want it to be. Horizon Gold does not require an employment or credit check. The Horizon Gold card has a $500 limit. Approval for the card is guaranteed. Horizon Gold reports to Transunion and will help you build credit. They do not charge minimum balance fees. They have the best APR at 0%, but the card cannot be used in many locations. There is an application fee of $5 and monthly membership fees of $24.95. The application is online, which makes obtaining the card fast and easy. If you get the card and simply pay the monthly membership fees, without making any charges, your credit score will improve. They will increase your limit, and you can send a request to Experian and Equifax to include the card on their reports as well.
Why this card may not be right for you:
This card is not a a credit card that can be used anywhere. It can only be used at the online store that is connected with this card. The benefit is that it reports to Transunion and will have a positive impact on your score if used responsibly.
3. Matrix Discover Card
Why you want this card:
You can start building credit easily as the Matrix Discover Card does not have any fees upfront. Even if you don’t have any money today, but you know you will next month, you can still get started. This card will help you boost your credit as it reports to all three credit bureaus. The online application is quick and easy. The APR for this card is 30%, which necessitates monthly balance payment to build credit. This card has a monthly fee of $12 on top of an annual fee of $75. The credit line on this card is $300. Be sure to graduate to a better card after the first year, as new fees (lots of them) start kicking in at that time.
Based on the results of an independent researcher here is the updated list… Click here for the list of Unsecured Credit Cards for Bad Credit 2013
Cloud Technology Systems,Inc. chose the 3 best credit cards for bad credit based on interest rates, fees, credit limit, how easy it is to apply and what type of credit is accepted.Here is how they broke down each category to come to the best 3 credit cards for bad credit.
Interest rate- The interest rates of cards in the bad credit category are horrible at best, Cloud Technology Systems, Inc. approached this from picking best interest rate out of a bunch of really bad rates, to come up with the three best.
Fees- The second factor in Cloud Technologies choice in picking the 3 best credit cards for bad credit are the fees.The fees that they considered were sign up fees, late fees and annual fees.Some of these credit cards for bad credit even have monthly fee of $7-$9 each month so there are more fees to consider than the standard fees usually associated with good credit.
Credit Limit- When Cloud Technologies looked at credit limits they found two things.The first thing was that with secured credit cards the limit is confined to what the security deposit required by the credit card company.The second item is the credit limits on the unsecured credit cards are usually less than $1,000.
Ease of applying- The 3 cards that they chose were cards that can be applied for online, or by phone.
Credit Type- Cloud Technology systems only reviewed credit cards that they were designed for people with bad credit.
Cloud Technology Systems, Inc. sorts the choices for those that have bad credit.These cards are limited to a handful of unsecured credit cards and a larger variety of secured credit cards.Cloud Technologies chooses the best 3 cards based on the typical categories that most consumers look at like introductory interest rates, fees, credit limit, how easy it is to apply and what type of credit is accepted.
The unsecured credit cards can be attractive due to the fact that the consumer does not have to come out of pocket with any sort of deposit.The secured credit cards can be attractive from the stand point that the fees and rates can be considerably lower.
The economy and unemployment rate over that last few years have created situations where many consumers have had items hit their credit and caused blemishes to their credit that now forces them to look for credit cards in the bad credit category.Many are looking to rebuild their credit by creating new good trade lines.
The natural first step should be to get a copy of your credit report to see where you actually stand with the credit reporting agencies so that you are not guessing as to how bad your credit really is, many people over estimate the damage that certain items have on their credit.
The next step is to decide if you need to establish new good trade lines, if you have filed bankruptcy then you will most likely need to start with new trade lines.This is when you need to make the decision if a secured credit card or unsecured credit card for bad credit best meets your needs.
Secured credit cards will require a deposit that will in most cases exceed $200, usually these types of credit cards will approve you as long as you can make the deposit.In these cases your credit limit will be determined by the deposit that is required
The Top 3 Unsecured Bad Credit Credit Cards For 2013, According to Cloud Technology Systems Inc.
Cloud Technology Systems Inc. picks the top three unsecured credit cards for people with bad credit. The credit card picks are based on approval of bad credit and not requiring an upfront deposit to use the cards.
Columbus, Oh (PRWEB) December 31, 2012
Cloud Technology Systems, Inc., the industry leading authority on YouTube for bad credit credit cards, weighs in on the best credit cards picks for 2013 for those that have questionable credit.
Cloud Technology Systems, Inc. first choice is the First PREMIER® Bank MasterCard® Credit Card. It does require a checking account to be approved for the card. Once you have applied online and are approved you must pay a processing fee and then you could be enjoying a credit line of up to $300 according to creditcards.com. Many individuals these days are looking for unsecured credit cards due to being squeezed for cash flow in their daily lives so they appreciate that there are credit cards out there that will accept people like them that have bad credit without having to pay and upfront deposit.
Cloud Technology Systems, Inc. second choice for the best unsecured cards in 2013 is the Unsecured Credit One Bank® Visa Credit Card. This card also starts with a $300 limit and you can apply online for the card. This Unsecured credit card also reports to the three major credit bureaus according to credit cards.com
Cloud Technology Systems, Inc. third choice is the PREMIER Forward® MasterCard® Credit Card which is also an unsecured credit card that can be applied for online and according to credit cards.com you will know if you are approved in 60 seconds or less. You must have a checking account to be approved for this credit card.
Larry, spokesman for Cloud Technology Systems, Inc, commented that each of these credit cards state they accept bad credit some credit applications will be denied due to certain credit requirements. According to this YouTube video the individual claims that his credit was so bad after filling bankruptcy, car repossessions and foreclosure that the only type of credit card that he was able to get was a secured credit card. Larry further stated that in situations where the applicant has credit that is below even bad credit requirements as stated by this individual they may be subject to only qualifying for a secured credit card.