Credit Card With No Credit Check

Getting a credit card with no credit check is a way for people to rebuild their financial report after having gone through bankruptcy or after acquiring a poor financial record. Actually, calling some of them credit cards is a misnomer. A credit card with no credit check is, in truth, a form of debit card. There are a couple of different plans offered by companies claiming to grant these 'loans', and both are risk free for the companies offering them. This is because the account holder must deposit their own funds on the card before they can even use it, much like accessing money in a checking account. One company offering such services charges a membership fee of $149.95 per year, and the only items that can be charged on the card are from members of the "club." Requirements for this service include being over age 18, a citizen or permanent resident, and having no undischarged bankruptcies on file.

Another company offering this service requires advance funding from the applicant's payroll, royalties, commissions, etc.. There are strict rules as to how much may be deposited in the credit card with no credit check account and how often, and every transaction on the account has a charge connected to it. If applicants visit their web site, there is a charge. If they make a deposit, there is a charge. There is a monthly service charge, and they even charge a specific fee for no activity. In short, these accounts are as expensive as any other card.

A consumer is better served by getting a debit card through his or her bank. The bank will issue a debit card to its customers without a fee, and the only time there are charges is when there is an overdraft, (just like with a check) or when they use an ATM machine other than at their own bank. Debit is now the preferred payment method. Not only is it accepted at the grocery store and major retailers, cardholders can ever use debit in the drive-thru and inside of major fast food restaurants. Credit cards sound good to the person trying to rebuild one's financial history after going through money troubles like a bankruptcy, but in truth they are not doing the cardholder any favors. Getting help through one of the nonprofit agencies who help folks with financial problems is far better than applying for a credit card with no credit check. "Is not my help in me? and is wisdom driven quite from me? " (Job 6:13). Consumers will greatly help themselves if they take their time, do research and make wise financial decisions.

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