Sunday, April 22, 2012

Got bad credit? Card issuers want you again

NEW YORK (CNNMoney) - Credit card issuers to increase lending to consumers with poor credit. But borrowers beware: The conditions are not always going to be good.
The subprime lending to consumers - usually people with a FICO credit score of less than 660 - climbed 41% last year, with banks that 1.1 million new credit cards to riskier consumers, a four-year high, according to a recent report from credit reporting agency Equifax.
Credit limits on new subprime credit cards also rose, climbing 55% from 2010 to 2011.
"Just a year ago, it was much harder for someone with average or low credit credit cards to get," said Beverly Harzog, a credit analyst at Credit.com. "But now the economy is a little better, issuers are feeling more comfortable, and to increase revenue, banks realize they need to expand their customer base."
But just because a bank is willing to extend credit to a subprime borrower, does not mean it will offer them favorable conditions. It is still too difficult to find a card with low interest rates and decent benefits, said Harzog.
Consumers with credit scores in the 620-659 range are generally considered "fair" credit have, according to credit card comparison website CardHub.com. And while there are some decent deals out there for these customers, the APRS is still high.9 Best cards for bad credit
The average APR on credit cards for these borrowers is about 20%, according to CardHub.com. This is comparable with an average APR of 17% for customers with good credit (660-719) and a 13% APR for people with excellent credit (720-850).
If the goal is to rebuild your credit, however, the APR is not as big of a problem because you must pay your bill in full each month. In this case, costs are often a bigger factor than the APR to play CardHub CEO said Odysseas Papadimitriou. Cards with fees totaling less than $ 40 per year are worth considering, he said.
Those with bad credit, which typically have scores below 620, will probably be offered cards with very high interest and costs.
Credit card issuer First Premier, for example, has a credit card aimed at customers with poor credit that more than $ 200 in costs per year charge and comes with a 36% APR
So it is important to read the fine print on the offers very carefully, Harzog said.
"You have to watch out for predatory subprime lenders who may charge processing fees, relatively high annual fees and interest rates that can exceed 36%," she said.
Stay away from that tower high interest rates, she said. If you have an emergency cost that prevents you from paying off the balance immediately, "credit card debt can get out of hand in a flash."
For consumers with bad credit, a secured card is probably a better option, said Harzog. Secured cards require a deposit, so that the cardholder is essentially borrowing against their own money. As a result, these cards offer lower interest rates than unsecured credit cards.


http://addbusiness.net/detail/link-157536.html
http://abigdir.com/index.php?q=jerseycityflowers.info&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-154729.html
http://addbusiness.net/detail/link-155998.html
http://addbusiness.net/detail/link-155995.html
http://addbusiness.net/detail/link-155661.html
http://addbusiness.net/detail/link-155992.html
http://allwebdirectory.info/detail.php?id=62813
http://addbusiness.net/detail/link-155316.html
http://addbusiness.net/detail/link-155993.html
http://addbusiness.net/detail/link-154559.html
http://addbusiness.net/detail/link-156447.html
http://allwebdirectory.info/detail.php?id=62809
http://addbusiness.net/detail/link-155306.html
http://allwebdirectory.info/detail.php?id=62816
http://addbusiness.net/detail/link-154521.html
http://addbusiness.net/detail/link-156445.html
http://addbusiness.net/detail/link-155657.html
http://all-products-services.com/detail/vivint-reviews-36975.htm
http://abigdir.com/index.php?q=stocktonflowers.info&search-btn.x=0&search-btn.y=0
http://aaasmeetings.org/detail.php?id=112543
http://addbusiness.net/detail/link-157532.html
http://allwebdirectory.info/detail.php?id=62810
http://aaasmeetings.org/detail.php?id=112542
http://allwebdirectory.info/detail.php?id=62815
http://addbusiness.net/detail/link-156108.html
http://addbusiness.net/detail/link-157537.html
http://add-website.info/detail.php?id=607
http://addbusiness.net/detail/link-155666.html
http://abigdir.com/index.php?q=memphisflowers.info&search-btn.x=44&search-btn.y=22
http://abigdir.com/index.php?q=scottsdaleflowers.info&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-156113.html
http://addbusiness.net/detail/link-156109.html
http://addbusiness.net/detail/link-154736.html
http://addbusiness.net/detail/link-155663.html
http://addbusiness.net/detail/link-155310.html
http://addbusiness.net/detail/link-156111.html
http://addbusiness.net/detail/link-155179.html
http://addbusiness.net/detail/link-156000.html
http://3webdirectory.info/detail.php?id=67936
http://addbusiness.net/detail/link-155996.html
http://14seo.com/detail.php?id=7549
http://addbusiness.net/detail/link-155314.html
http://addbusiness.net/detail/link-155654.html
http://addbusiness.net/detail/link-157531.html
http://addbusiness.net/detail/link-157534.html
http://addbusiness.net/detail/link-155313.html
http://addbusiness.net/detail/link-156442.html
http://allwebdirectory.info/detail.php?id=62808
http://3webdirectory.info/detail.php?id=67935
http://aaasmeetings.org/detail.php?id=112542
http://addbusiness.net/detail/link-155174.html
http://addbusiness.net/detail/link-157542.html
http://addbusiness.net/detail/link-155182.html
http://allwebdirectory.info/detail.php?id=62811
http://addbusiness.net/detail/link-154561.html
http://aaasmeetings.org/detail.php?id=112545
http://allwebdirectory.info/detail.php?id=62806
http://abigdir.com/index.php?q=newarkflowers.info&search-btn.x=0&search-btn.y=0
http://abigdir.com/index.php?q=baltimoreflowers.info&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-154337.html
http://addbusiness.net/detail/link-155662.html
http://addbusiness.net/detail/link-155178.html
http://addbusiness.net/detail/link-155180.html
http://addbusiness.net/detail/link-154298.html
http://addbusiness.net/detail/link-155311.html
http://abigdir.com/index.php?q=buffaloflowers.info&search-btn.x=0&search-btn.y=0
http://abigdir.com/index.php?q=simplex-bpo.com&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-154734.html
http://addbusiness.net/detail/link-157538.html
http://add-website.info/detail.php?id=608
http://14seo.com/detail.php?id=7496
http://3webdirectory.info/detail.php?id=67932
http://addbusiness.net/detail/link-157527.html
http://14seo.com/detail.php?id=7507
http://addbusiness.net/detail/link-154737.html
http://add-website.info/detail.php?id=611
http://addbusiness.net/detail/link-155665.html
http://addbusiness.net/detail/link-157528.html
http://addbusiness.net/detail/link-154305.html
http://addbusiness.net/detail/link-154728.html
http://addbusiness.net/detail/link-156441.html
http://addbusiness.net/detail/link-156452.html
http://addbusiness.net/detail/link-157541.html
http://abigdir.com/index.php?q=anchorageflowers.info&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-155175.html
http://aaasmeetings.org/detail.php?id=112546
http://allwebdirectory.info/detail.php?id=62807
http://allwebdirectory.info/detail.php?id=62805
http://addbusiness.net/detail/link-155318.html
http://addbusiness.net/detail/link-156107.html
http://allwebdirectory.info/detail.php?id=62812
http://abigdir.com/index.php?q=wichitaflowers.info&search-btn.x=0&search-btn.y=0
http://add-website.info/detail.php?id=607
http://abigdir.com/index.php?q=riversideflowers.info&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-156110.html
http://addbusiness.net/detail/link-156114.html
http://abigdir.com/index.php?q=flowersmiamibeach.net&search-btn.x=0&search-btn.y=0
http://14seo.com/detail.php?id=7551
http://addbusiness.net/detail/link-154733.html
http://addbusiness.net/detail/link-157529.html
http://abigdir.com/index.php?q=bakersfieldflowers.info&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-156112.html
http://aaasmeetings.org/detail.php?id=112544
http://14seo.com/detail.php?id=7540
http://addbusiness.net/detail/link-156448.html
http://addbusiness.net/detail/link-156450.html
http://addbusiness.net/detail/link-155307.html
http://addbusiness.net/detail/link-155997.html
http://addbusiness.net/detail/link-157533.html
http://14seo.com/detail.php?id=7541
http://addbusiness.net/detail/link-157535.html
http://14seo.com/detail.php?id=7551
http://addbusiness.net/detail/link-155999.html
http://3webdirectory.info/detail.php?id=67939
http://addbusiness.net/detail/link-156444.html
http://addbusiness.net/detail/link-154369.html
http://addbusiness.net/detail/link-154735.html
http://all-products-services.com/detail/luxury-brooklyn-rentals-48302.htm
http://addbusiness.net/detail/link-154738.html
http://14seo.com/detail.php?id=7548
http://abigdir.com/index.php?q=albuquerqueflowers.info&search-btn.x=0&search-btn.y=0
http://3webdirectory.info/detail.php?id=67931
http://addbusiness.net/detail/link-155181.html
http://3webdirectory.info/detail.php?id=67938
http://addbusiness.net/detail/link-155653.html
http://abigdir.com/index.php?q=fortworthflowers.info&search-btn.x=0&search-btn.y=0
http://allwebdirectory.info/detail.php?id=62812
http://addbusiness.net/detail/link-154560.html
http://abigdir.com/index.php?q=glendaleflowers.info&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-155308.html
http://addbusiness.net/detail/link-154730.html
http://addbusiness.net/detail/link-155652.html
http://add-website.info/detail.php?id=610
http://addbusiness.net/detail/link-155177.html
http://addbusiness.net/detail/link-154258.html
http://addbusiness.net/detail/link-155173.html
http://addbusiness.net/detail/link-155309.html
http://add-website.info/detail.php?id=609
http://allwebdirectory.info/detail.php?id=62814
http://addbusiness.net/detail/link-157539.html
http://addbusiness.net/detail/link-156453.html
http://abigdir.com/index.php?q=scottsdaleflowers.info&search-btn.x=0&search-btn.y=0
http://abigdir.com/index.php?q=flowersbeverlyhills.net&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-157526.html
http://addbusiness.net/detail/link-155664.html
http://abigdir.com/index.php?q=norfolkflowers.org&search-btn.x=0&search-btn.y=0
http://addbusiness.net/detail/link-157540.html
http://addbusiness.net/detail/link-156454.html
http://addbusiness.net/detail/link-155315.html