No Credit Check Credit Cards

A bad credit rating is definitely a burden for those who are trying to get approved for a credit card. Credit card companies usually check the applicant’s credit history in order to measure the amount of risk the applicant will impose on the credit card company. Credit card companies view customers as investments, and investments always have a certain amount of risks involved. Individuals that have a bad credit rating are riskier investments than borrowers who have an excellent credit rating. However, there are some credit cards with no credit check that individuals can take advantage of.

First off, the most popular type of credit cards with no credit check is secured credit cards. Secured credit cards will require the individual to fund their account. In other words, the individual must load their credit card with their own cash in order to use the card. Prepaid cards are another type of credit cards that require no credit check as well. Secured credit cards and prepaid cards are the perfect solution that consumers can use to rebuild their credit history. Credit cards with no credit check like secured cards and prepaid cards report to the 3 major credit reporting agencies.

Credit cards that require no credit check are basically designed to help those with bad credit to achieve a higher credit rating. People who have no credit history at all will be denied major credit cards as well. For those who have no credit history at all, they have a chance to start building their credit history in a positive way with secured credit cards and prepaid cards. The Pink ACE Elite Visa is a prepaid card that requires no credit check, no application fee and no obligation. However, this card is not considered a credit card.

Another card that requires no credit check is the Upside Visa Prepaid card, which is a debit card and not a credit card. On the other hand, there are credit cards like the Orchard Bank Visa Card that are designed for those with bad credit or no credit at all. The ACE Elite Prepaid Visa card is another card that requires no credit check, no application fee and no obligation. However, this card is also a debit card and not a credit card. Basically, prepaid cards require no credit check, while other credit cards that are designed for bad credit will require a credit check on the applicant.

Secured credit cards, on the other hand, are not debit cards or prepaid cards. Secured credit cards are credit cards that work like unsecured credit cards with one basic difference. A secured credit card will only be used once the card holder deposits money on their card. In other words, the individual will be paying interest on their own money. Why would anyone pay interest on their own money when making purchases? The main reason why people use secured credit cards will involve rebuilding someone’s credit history. Secured credit cards do not require a credit check because the card holder is borrowing on their own money.

The Applied Bank Secured Visa Gold Credit card is a secured credit card that offers no annual fee or set up fee. This credit card charges an interest rate of 9.99%, which will never change regardless if the card holder is late on making their payments. The Platinum Zero Secured Visa credit card is another credit card that requires no credit check. There are no interest fees on purchases and no application fees. There are plenty of credit cards with no credit check that people can choose from online.

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