Unsecured credit card offer
Most of the credit card market comprises of unsecured credit cards. It can be said that almost 70% of the credit card market has unsecured credit cards. With the unsecured credit card offers you do not have to provide any security for using these cards. However getting approved for these credit cards is a bit difficult as compared to the secured credit cards.
The unsecured credit cards are offered on the ability of the borrower to pay back the debts on time. The unsecured credit card offer provider would first assess the ability of the borrower to pay back the money on time. The provider would also do a credit history check to assure that you would be paying the debts on time.
The unsecured credit card is considered to be one of the best options for credit cards. This is because it has comparatively less restrictions as compared to the secured credit cards. However when you opt to take an unsecured credit card make sure that compare the different offers that are available and then go in for the best available option.
There are a number of things that should be taken into consideration like:
The APR associated with the credit card
The rewards if any are available with the credit card
The late fee/ other charges involved with the unsecured credit card offer
If there is an introductory offer available with the credit card the make sure that you know the charges that would be applicable after the introductory period gets over
If you have balance associated with other cards and are looking to reduce your debts then make sure that the card you take has low rates on balance transfer.
These are some of the basic things that should be taken into consideration when looking for an unsecured credit card offer.
Qualifying for an unsecured credit card offer
As already mentioned qualifying for an unsecured credit card offer can be a bit difficult. Most of the providers require you to have flawless credit history and payments. However there are some providers that also offer credit cards to people with credit problems but at higher APR.
Hence it becomes important for you to check whether you can comply by the terms and conditions as set by the credit card provider. It is important that you first understand the terms of the credit card and before you sign up read through the fine print so that you are sure what you are signing up for. The fine print on the credit card form carries a lot of important information that needs to be understood before signing up for the card.
Examples of unsecured credit card offers
Some of the examples for credit card offers are mentioned below:
Capital One No Hassle MilesSM Rewards: This card offers an introductory period with 0% APR till February 2010. The regular APR is 13.90%. You can earn air miles of 1.25 miles for each dollar spent on purchases. There is no annual fee associated with the card.
Citi Platinum Select MasterCard: This card offers 0% APR on balance transfers and purchases for up to 12 months the regular APR is set at 8.74%. There is no annual fee with this card.
Discover More Card: With this card you can get 5% to 20% Cashback Bonus at top online retailers. The intro APR lasts for 6 months on purchases & 12 months on balance transfers. The regular APR charged on this card is 10.99%.
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