Bad Credit No Longer Has to Hold People Back Thanks to the Many Resources Available
Las Vegas, NV -- (SBWIRE) -- 04/01/2013 -- Subprime credit scores, those below 620, continue to decline thanks to improving employment rates, yet many borrowers find they are still unable to obtain credit when needed. Those with a subprime credit score struggle to find lenders willing to take a risk on them. "With the help of Bad Credit Resources, consumers have access to guaranteed approval credit cards, pre-paid cell phone servic e and more," according to Shelly Evans, media contact for the company.
Pre-paid mobile phones offer many benefits to consumers with bad credit. Consumers choosing this option discover they have a wide range of devices to choose from and yet no contract is required. Sprint, Verizon and T-Mobile offer pre-paid cell phone service that is indistinguishable from contract plans and many consumers with good credit now choose this option. "Having access to a mobile device makes life easier in many ways so consumers no longer have to do without thanks to pre-paid cell phone service," Ms. Evans explains.
Secured credit cards depend on the value of the cash deposit provided by the users. Companies offer a wide range of cards of this type with minimum deposits ranging from $200 to $500. Consumers with bad credit need to use these cards wisely. To rebuild credit, spending must be kept to a minimum and all payments must be made on time.
"With smart use of a secured credit card, a consumer can rebuild his or her credit in a short period of time. Many companies automatically upgrade the credit card to an unsecured one after one year of regular payments. Consumers may also request an upgrade after a few months of consistent payments. Read the provisions on credit repair to understand how this process works," Ms. Evans goes on to say.
Instant approval and guaranteed approval credit cards aren't the same thing although many consumers believe they are. When looking for a credit card for those with bad credit, consumers need to ensure the card issuer accepts applicants with bad credit. Most specifically state this.
"Repeated requests for credit cards hurt a consumer's credit score so consumers must find card issuers willing to work with those who have a credit history which isn't good. Instant approval typically means conditional approval or pre-approval and the processing time typically runs from four to seven banking days. Guaranteed approval cards for those with bad credit should say they are for customers who are credit challenged," Ms. Evans explains.
With many bad credit resources available, consumers continue to have options. It's a matter of knowing what these resources are and where to find them. "Bad Credit Resources gathered this information into one central location to make it easier for consumers to rebuild credit. The sooner one gets started, the brighter his or her financial future will be," Ms. Wright emphatically states.
About Bad Credit Resources
Bad Credit Resources provides users with information needed to obtain a variety of credit types. From car, personal and payday loans to secured credit cards and credit repair services, users find the information needed to move forward with their financial life. The credit article forum offers information on a wide range of topics and users receive access to a free credit repair guide.