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Return To Credit Article Archive   Search the Article Archives Credit Cards For Those With Bad Credit: Check The Fees! By Patsy Rose Many companies now offer credit cards for those with bad credit. There are unsecured, secured and prepaid credit cards. The fees charged by companies vary and as with any credit card or loan, consumers are wise to shop around before they sign up. It is easier than ever to find credit cards for those with bad credit. The internet has made it easier to find just about anything. It is also easy to compare the fees charged by companies that offer credit cards for those with bad credit, but keep your reading glasses handy. The links to the fees are usually in colors only slightly different from the background, tucked away at the bottom of the page. Prepaid credit cards may sound like a good solution for someone who has problem credit, but they wont help you build your credit and they charge fees for loading funds, ATM withdrawals and ATM inquiries. Here are some of the fees that you should look at and compare, before you apply for a card. Companies that offer credit cards for those with bad credit charge annual fees. If you work to repair and improve your credit scores, then you will find that major credit card companies offer cards with no annual fees. Prepaid credit cards may or may not have annual fees, but they all have a monthly maintenance fee. Unsecured credit cards for those with bad credit typically charge the highest annual fees, from $39 to $150. Secured cards can range from $39 to $79. Then there are the set-up, processing and/or program fees which are one-time fees charged directly to the card or deducted from the amount you are loading in the case of prepaid credit cards. Once again, the fees charged for unsecured credit cards for those with bad credit are the highest. A typical set-up fee is $29. A typical program fee is $95. Processing fees vary from $4.95 to $49. The prepaid credit cards charge all sorts of little fees which can add up if you are not careful. When it comes to credit cards for those with bad credit, you are basically paying for credit. It has been said that bad credit is expensive. All you need do to see that this is true is look at the fees charged by companies that offer credit cards for those with bad credit, whether they are secured, unsecured or prepaid credit cards. Secured credit cards are often recommended to help people improve their credit history, but there are other things that you can do to improve your credit score. For people with no credit history, a secured credit card may be the only choice. But, being listed as a co-applicant should be considered first. Parents can often help their children establish a credit history by listing them as a co-applicant on a credit card application. Prepaid credit cards usually do not report to the credit bureaus and therefore cannot help you establish or improve credit. There is one company that will report to one of the three major credit bureaus, but you pay higher fees for one of those prepaid credit cards. It is frustrating to look for credit cards for those with bad credit. There are no good deals. They all charge high fees. They all charge high interest rates. If you need a credit card to conduct business on-line or just for convenience, prepaid credit cards are the least expensive option. Wired Plastic prepaid credit cards charges some of the lowest fees and offers free direct deposits from your employer. You will be charged a $9.95 activation fee and a $3.95 monthly fee. Using an ATM costs extra and loading cash at a retailer cost extra, but if you are careful you can avoid paying anything except the monthly fee. For more information about credit cards for those with bad credit, repairing credit scores and general credit information, visit Credit Fix Solutions. About the Author: The writers at Credit Fix Solutions provide free information about credit. Visit us at http://creditfixnow.blogspot.com.

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