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Tag: credit cards

What are Guaranteed Acceptance Credit Cards

What are Guaranteed Acceptance Credit Cards

Finance
Acceptance Credit Cards are like any other but they come without the same application criteria. A card issuer that markets a guaranteed card generally offers pre-approval for acceptance. This may be useful for people that would otherwise find it hard to take out a card or for those that would prefer not to have to go through a credit checking process such as those with bad credit or no credit. What Types of Credit Cards Come Pre Approved? Actual products on offer in this sector depend on the individual card issuers. Some give out their guaranteed acceptance offers for: Standard unsecured credit cards. Secured card products. Prepaid cards. Some card issuers offer a single type of pre approved product; others may offer a few different types. Why do People Use Guaranteed ...
When Should You Increase Your Available Lines of Credit?

When Should You Increase Your Available Lines of Credit?

Finance
It’s better to have credit and not need it, than to need credit and not have it! For most folks, this is abundantly clear. Everybody should have access to a sufficient line of credit, and manage it well. Sensible advice for sensible folks. But what happens when you find yourself in a bind; either you need credit and you don’t have it, or worse yet – you don’t qualify for credit? These are difficult situations to contend with. Credit availability is one of several factors that goes into calculating your credit score. Leading analysts on this topic routinely advise clients to understand each of the major categories of a credit score, notably: New Credit applications account for 10% of your credit score The Type of Credit you have accounts for 10% of your credit score Your Cred...