Flanture

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Next post is written by guest blogger Charles
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You go to your mail, open it and to your belief you see a credit card. It seems that today credit cards are flashing up everywhere. You have credit cards for bad credit, credit cards with zero percent APR, you even have credit card scams. The question that many people ask is who would give a person a credit card with a bad credit history? The answer is, a lot of places.

There are credit card companies out there that actually believe people make mistakes. Yes, you have a repossessed car on your credit but what’s the reason? It is only human to make mistakes, especially when it involves money and credit card companies have a tendency to look past all those negatives and bad credit that you may have on your credit report.

Now we have pre-paid credit cards. Pre-paid credit cards are basically like a bank but all on a card with no checks. Pre-paid credit cards are basically substitutes for your own cash. With a pre-paid credit card no one is lending you cash of any sort, it is your own money that you will be putting on a pre-paid credit card.

As you’re reading about credit cards you probably see a lot of talk about APR. Standard APR, Balance Transfer APR, Default APR and Cash Advance APR are only a few of them to list. Now, are you wondering what the difference with these APR’s is? The difference between the listed APR’s can seem confusing to you when you first hear it but once you begin to understand it you will see that it really is pretty simple.

Standard APR is talking about the interest rate that the credit card will be going up to AFTER the introductory APR period is over. Cash Advance APR is the interest rate you will be receiving for those cash advances. Balance Transfer APR is that interest rate that you will be getting for any of your credit card balances that you transfer over to your newly created credit card. Last we have Default APR and that is the interest rate that your card will be going up to if you are ever late on your payments or even go over your credit limit.

Credit cards can lead to a world of debt so you will need to make sure that you do not get too greedy with that “extra” money. Yes, the truth is that you can use credit cards in order to build up your credit but you will need to actually show some paid off credit cards before places begin to look at that as positive. When you have active credit cards that have not been paid off yet then places may look at you as if you were in debt. So play it safe before you get fifty thousand dollars in debt because credit cards can do that to you THEN you will wish that you never opened that first credit card that came in the mail. In other words, credit cards can help you as long as you don’t go getting too greedy on them.