If
you have had trouble obtaining a normal credit card and
have been turned down for a bad credit credit card, such
as a credit builder card then you may not know where to
turn. Obviously you should go through all the problems causing
the bad credit as described in our Help
Centre but if you need cash quickly then there are other
options.
- Prepaid
Credit Cards
- Secured
Credit Cards
Prepaid
cards are an alternative to the conventional credit card.
With a prepaid card you can put money onto the card and
then use the card as any normal card, each charge comes
off the balance you have put on and so it works like a pay
as you go model. The problems with this is you will need
to put the deposit on the money on the card in the first
place and as a result you will need to have the money available.
If this is not possible you won't be able to use this method.
Secured
credit cards work in a similar way, you would normally set
up a bank account and deposit money into the account to
act a collateral but you may also be able to secure a card
against a house or other asset.
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