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Perhaps it is just me, but the purpose of Secured Credit Cards eludes me. They amount to little more than glorified checking accounts and, with “fake VISA” and “fake Mastercard” accounts that now attach to checking accounts, it seems like there should be an easier way to secure credit without having to pay into a Secured Credit Card scheme.

Recommended Credit Cards for Poor Credit:
Don’t put your eggs all in 1 basket. We recommend you apply for at least 4 cards so you can choose the one that is right for you!

  1. Discover More Card. We highly recommend this card for bad credit applicants!
  2. First PREMIER Bank MasterCard/Visa
  3. Orchard Bank Classic MasterCards
  4. Centennial MasterCard / Visa
  5. Wired Plastic Prepaid Visa Card

Well, the good news is that there are ways to get unsecured credit cards even if you have bad credit. I know, I know, every application you have sent in has been declined, or the offer has been returned for a secured card alone, but there is hope.

The best opportunity for an unsecured credit card, regardless of your credit history, is through your own bank. Your bank has several advantages over any other organization for providing you with a credit card.

  1. They can look at your bank account history to determine sufficient funds to back up your credit level.
  2. You can set up preferred auto-pay methods from your bank account.
  3. They have complete information on you and your financial history.

Go into your local bank – face to face – and apply for a credit card at a very low level. Don’t worry, they will raise your level very quickly if you show promise via regular payments. 

You may also want to get your paycheck to be automatically placed into your checking account. This kind of financial assurance improves the likelihood that your bank will be willing to give you a credit card.

This Financial Services article was written by Russ Jones on 9/16/2008

Russ Jones is a financial services expert.