Is your credit rating low? Getting credit cards when you have bad credit isnt easy. In fact, its easier to qualify for a card that will make your credit situation worse than a card that will help you. Because you have fewer options, predatory lenders will try to trap you into card agreements that saddle you with high fees, high interest, and a spiraling amount of debt that will pull you farther into financial trouble. Here are some of the signs that credit cards are predatory:
* Sky high interest rates. When you pose a credit risk, the interest rates youll be offered will be higher than the market average no matter what, but predatory lenders interest rates are unreasonably high. Look online to find out what interest rates legitimate lenders are charging for credit cards for people with poor credit, and turn down any offers that are noticeably higher than average.
* Monthly or weekly fees. Legitimate credit cards absolutely never charge weekly or monthly fees. When a credit card comes with weekly or monthly fees, you can be sure that its line of credit is tiny. Predatory lenders do this so your line of credit will rapidly be eaten up by fees instead of by charges. You barely get to use your card before youve reached your limit, and the lender gets to extract money from you for the privilege of not using its card.
* Credit applications or loans that require you to pay up front fees like "application fees." Charging a fee before a loan is actualized is illegal. If a company asks you to shell out any money at all before your loan or credit line is approved (even if they say you are pre approved), refuse the offer and report the company to the relevant authorities.
* Unethical (and possibly illegal) billing practices. Predatory credit card companies sometimes try tricks like mailing you a bill on the bills due date, meaning that by the time you get the bill, your account is already past due. Close your account for your own safety, and start sending in payments on your own, without waiting for the bill to arrive in the mail.
This list of danger signs is nowhere near exhaustive. Do your research well and thoroughly before you start looking for credit cards that will accept borrowers with bad credit. You are in a sensitive financial position, and you need credit cards that will help you to improve it, not dig you deeper into debt. Related Information Credit card applications Student credit cards Student credit cards

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