Poor Credit Credit Cards No Deposit

Poor Credit Credit Cards No Deposit

Poor Credit Credit Cards No Deposit

In the US right now people are using just over 600 million credit cards and this number seems to be on the rise, irrespective of the recent economic recession.

Poor Credit Credit Cards No Deposit

The economic downturn has however played a role in many people defaulting on their payments and thereby, joining the increasing group of people with bad credit. These people are looking for credit cards and their need is being fulfilled by credit card companies who are willing to give them credit cards at high interest rates.

Poor Credit Credit Cards No Deposit

The credit card companies stand to make a good profit by giving credit to people who have a bad credit score by charging allocation fees and high Annual Percentage Rate (APR). 

Poor Credit Credit Cards No Deposit

The average APR on a normal credit card is around 14 percent, whereas on credit cards with no deposit it can go up to 29 percent. On an average, more than 60 percent of Americans have credit card debt and some of them are prime candidates for credit cards for bad credit.

Poor Credit Credit Cards No Deposit