Low Income Credit Cards

People are not getting the easy access to Credit Cards anymore, its becoming much more difficult. The credit lending criteria has become far more strict in the last 18 months, whereas In the past you could get accepted online in a matter of minutes by supplying simple information like name, age, address, employment and income.

This has all changed since the credit lending climate changed. Credit Card lenders are becoming more and more wary of lending out to just anyone bringing about the introduction of more and more bad credit rating type credit cards. These are easier to get accepted for and if with your good credit rating in the past has no guarantee of being accepted today you may want to opt for one of these if you are financially squeezed.

One of the more popular credit cards is the Vanquish Credit Card which says on its website that if you are new to credit or have a bad credit rating then this may be the card for you. The APR is sky high but the chances of you being accepted are pretty good. The Vanquis Visa Credit Card is there to help you if you a new to credit so if you are trying to build some sort of credit history then this may be the route to go. The fixed limit will help you control your spending. As they say some credit is better that no credit at all.

These cards are aimed at all types of borrowers like bad credit hostory, low income or no credit history. This is a growing market and you will find more and more credit card companies launching these types of cards. The Suns Tuxedo Prepaid Card is another such type card however this is a prepaid card. You don’t require a bank account and your salary or wages can be paid directly into it. Its backed by Mastercard so you can use it at any of the millions of locations and ATMS’s around the world.

There is no question about it these Credit Card companies are making a fortune by charging APR’s of 39% which works out out a rather healthy profit margin when you consider the interest rates are in single digits. Saying that if you are in a poition where you need some form of credit and being declined is the order of the day, these types of credit cards may help you in the short term.

Emphasis on the short term!