Consumers can apply for secured instant approval credit cards since the collateral provides a modicum of comfort to the credit card companies. The line of credit is generally secured by a CD and the credit limit varies between 50 and 100 percent of the deposit.
Having up to $5,000 as a secured line of credit is not bad, especially when the consumer can get approved regardless of the credit history or the annual income.
In addition to the benefit of instant approval, these secured credit cards can help consumers improve their credit-utilization ratio. Since the consumer's credit score and the credit-utilization ratio are inversely related, the cardholder should strive to maintain a low credit-utilization ratio.
This is possible provided the credit limit increases while the outstanding balance remains almost constant. In other words, the consumer should strive to pay-off the entire balance on the card rather than just the minimum balance.
Read More...
How To Get Instant Approval Credit Cards For Bad Credit
How available Is An Instant Approval Credit Card For Bad Credit?
Bad Credit Credit Card Benefits
More Tips on Instant Approval Credit Card For Bad Credit
The Instant Approval Credit Card Info You Should Know
Friday, October 29, 2010
Instant Approval Credit Card: Instant Approval Credit Cards for Other Consumers
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment