When we were searching for the best credit cards for people with bad credit, these five were at the top of every list.  They are not prepaid or secured credit cards either.  These are the real deal.  Here are the top five cards at a glance.

If you have less than perfect credit, you have no doubt encountered some trouble being approved for a credit card.  If this is the case, you have two options.  You can apply for a pre-paid credit card or you can apply for an unsecured card like the ones listed below.  Either way, it is important to read all of the terms and conditions of any card application to be sure you are getting the best card to suit your needs.

Here are the top 5 unsecured credit cards for people with bad credit:

First Premier Bank Gold Mastercard

• Welcomes application from those with less than perfect credit
• Instant application decision within 1 minute
• Low Annual Percentage Rate (APR) on all purchases
• Includes credit reporting to 4 major Credit Bureaus

Centennial Gold Mastercard

• Application decision within 1 minute when you apply online
• Credit protection available and tons of free credit information online
• Poor credit applicants welcome to apply
• Provides credit reports to 4 main Credit Bureaus

Orchard Bank Classic Mastercard

• Introductory rate of 0% offered to those who qualify for the first six months
• Easy access to your account online
• Accepted worldwide
• Instant application decision

Centennial Mastercard / Visa

• Your choice of Mastercard or Visa application
• Quick online application response
• Monthly reporting to 3+ Credit Bureaus
• Applicants with poor credit welcome

First Premier Bank Platinum Card

• All applicants welcome
• Instant online application decision
• Low APR available
• Monthly reporting to 4 Credit Bureaus

As you can see, most of these cards offer the same features like instant online decisions as well as low APR, monthly credit reporting and they all welcome applicants with poor credit.  Which ever card you choose, be sure to make your payments on time and start to rebuild your credit today.  If you do, this may be the last time you need to search for credit cards for people with bad credit.

Originally posted 2009-04-09 16:01:03.

Even though mortgage rates these days are incredibly low, many people are missing the chance to take full advantage of it. Why? Because they don’t have an acceptable credit score for mortgages. So what kind of score do you need to get the mortgage you want?

That tiny little three-digit number means a whole lot to those who lend money. It shows them how credit worthy you are and until recently, a FICO score of 720 meant you could lock down great rates and terms for loans and mortgages.

Unfortunately, with the banks in crisis, lenders are looking for a credit score up around 740 before they are willing to offer great rates. That doesn’t mean you’re out of luck if you’re score is slightly lower. It just means your rates will be higher. Unless you have a score below 580, you should still be able to get the loan or mortgage you need.

In the United States, the average credit score is a healthy 720 according to the company that developed the FICO scale. That means 50 percent of people have a score higher than 720 and the other 50 percent score lower. The scale ranges from 300 (worst score) to 850 being the perfect score.

Having a decent credit score is important for more than just mortgages. It is used by insurance companies to determine your premiums, landlords, and some employers.

If you need to raise your credit score here are a few simple tips to remember:

Keep an eye on your credit report – errors on your report can damage your credit.

Apply for a credit card and use it wisely – pay off the balance and avoid interest charges.

Set up your accounts for automatic payment – keeps payments on time every month.

Keep your finances out of collections – this can be devastating for credit score.

Don’t use all your available credit – lenders like to see a difference between what you have access to and what you use.

Use less than 30 percent of your available credit – under 10 percent is even better!

Follow these tips for lowering your score and you can get it above 720 in no time!

Originally posted 2009-04-15 06:27:21.