If you haven't heard of easy approval credit cards, then let me explain. These credit cards are, as their name suggests, easy to obtain. If you have been denied recently for a "standard" credit card, you may actually be approved for an easy approval credit card.
Both First Bank of Delaware and Urban Trust Bank offer easy approval cards. First Bank of Delaware offers the Tribute Gold MasterCard and Urban Trust Bank offers the Salute Visa card. However, with a few quick clicks on the internet, you will come up with a multitude of companies that offer similar credit cards.
Credit cards like the Tribute Gold MasterCard and Salute Visa card are more easily obtainable because the credit score required is lower than for more "high profile" credit card companies. These easy approval credit card companies will review your credit rating, employment status, current income, and how long you have been at your present residence.
So, are you interested to know why credit card companies are offering this type of credit card? Well, in the business world, it's just a good business decision. The "standard" credit card companies will not approve credit for people who have below a certain credit rating, which leaves this large group of consumers without the purchasing power of a credit card. Additionally, there is a segment of the population who have not yet had the opportunity to build a credit score. This would be the young people who have just or just recently reached the age of majority.)
The "standard" credit card and the easy approval credit card offer virtually the same benefits. In addition, the easy approval credit card will allow an opportunity for the card holder to build his or her credit rating through the proper and wise handling of this credit card.
Of course, as you may have surmised, there is a down-side. These easy approval cards, while providing a segment of the population with credit, also bring higher annual percentage rates (APRs) and additional costs, including one-time setup charges and monthly and annual fees.
It is best not to apply for one of these easy approval cards unless you have recently been denied approval for a "standard" credit card because of the additional costs and higher fees mentioned above. You should make sure that you will be able to make all the monthly payments on time and will be able to pay at least the monthly minimum.
If you just don't trust yourself at this point to have the freedom of one of these credit cards, don't have a regular income, or don't know that you will be able to keep up with the payments, consider applying for a secured credit card. Secured credit cards only allow you to spend the amount you have available.
In summary, if you know that you have a good credit score, it is probably a better idea to apply for a "standard" credit card in order to avoid the significant charges associated with these more easily obtainable credit cards. Adversely, if you have been turned down for a "standard" credit card in the past six months, it is probably wise to apply for one of the easy approval credit cards. Whichever you decide to apply for, be sure that you will be able to make the payments and make them on time. - 31377
Both First Bank of Delaware and Urban Trust Bank offer easy approval cards. First Bank of Delaware offers the Tribute Gold MasterCard and Urban Trust Bank offers the Salute Visa card. However, with a few quick clicks on the internet, you will come up with a multitude of companies that offer similar credit cards.
Credit cards like the Tribute Gold MasterCard and Salute Visa card are more easily obtainable because the credit score required is lower than for more "high profile" credit card companies. These easy approval credit card companies will review your credit rating, employment status, current income, and how long you have been at your present residence.
So, are you interested to know why credit card companies are offering this type of credit card? Well, in the business world, it's just a good business decision. The "standard" credit card companies will not approve credit for people who have below a certain credit rating, which leaves this large group of consumers without the purchasing power of a credit card. Additionally, there is a segment of the population who have not yet had the opportunity to build a credit score. This would be the young people who have just or just recently reached the age of majority.)
The "standard" credit card and the easy approval credit card offer virtually the same benefits. In addition, the easy approval credit card will allow an opportunity for the card holder to build his or her credit rating through the proper and wise handling of this credit card.
Of course, as you may have surmised, there is a down-side. These easy approval cards, while providing a segment of the population with credit, also bring higher annual percentage rates (APRs) and additional costs, including one-time setup charges and monthly and annual fees.
It is best not to apply for one of these easy approval cards unless you have recently been denied approval for a "standard" credit card because of the additional costs and higher fees mentioned above. You should make sure that you will be able to make all the monthly payments on time and will be able to pay at least the monthly minimum.
If you just don't trust yourself at this point to have the freedom of one of these credit cards, don't have a regular income, or don't know that you will be able to keep up with the payments, consider applying for a secured credit card. Secured credit cards only allow you to spend the amount you have available.
In summary, if you know that you have a good credit score, it is probably a better idea to apply for a "standard" credit card in order to avoid the significant charges associated with these more easily obtainable credit cards. Adversely, if you have been turned down for a "standard" credit card in the past six months, it is probably wise to apply for one of the easy approval credit cards. Whichever you decide to apply for, be sure that you will be able to make the payments and make them on time. - 31377
