Credit Cards For Bad Credit

Question: Why are the only credit cards for bad credit or no credit through first premier?

(Posted by: LatefaM on 2009-10-22 09:52:56)

Posted by: SPIFIMAN1 on 2009-10-22, 11:37:26

They are not. Capital One, H.S.B.C. and Orchard Bank also offer credit cards to people with damaged credit.

Posted by: munwing1983 on 2009-10-22, 09:56:19

I don 't know of the company, but I 'm assuming their interest rates are pretty high.

Posted by: dogszncatsz on 2009-10-22, 10:05:48

That 's how they make money. They will extend credit to individuals who cannot get credit through larger financial institutes (like Chase or Citi). Most all of the First Premier cards have annual fees as well as participation fees. they advertise low interest rates (9.9%), but with all the fees you have to pay to have the card, it ends up costing more than having a high interest, no fee card. I had bad/ no credit several years back, I used a First Premier card to rebuild my credit and it worked, but it cost me $100 a year just to hold the card!

Posted by: Snarky's Wife on 2009-10-22, 11:18:54

Capital One has a poor credit card. It isn 't too bad...only $39 annual fee. Kay Jewelers hands out credit like its candy, and so does Target (very small credit limit). Hooters Mastercard will also grant credit to most anyone, although your mileage may vary!

Posted by: T2 on 2009-10-25, 09:48:46

That 's not true. Try a site called findsecuredcards (google it). They have a ton of no credit check / bad credit cards that go through a few banks, and I don 't even see first premier on there.