PRLog - June 29, 2012 - Bad Credit MD, a free On-line information guide that helps people that have bad credit in the United States, Canada, Ireland, United Kingdom, India, South Africa, Australia, and New Zealand has compiled a list of financial institutions that are currently offering secured credit cards to people with bad credit. This detailed list can be viewed at http://www.badcreditmd.com/
Secured Credit Cards
Secured and unsecured cards can be used to pay for goods and services. However, a secured card requires you to open and maintain a savings account as security for your line of credit; an unsecured card does not.
The required savings deposit for a secured card may range from a few hundred to several thousand dollars. Your credit line is a percentage of your deposit, typically 50 to 100 percent. Usually, a bank will pay interest on your deposit. In addition, you also may have to pay application and processing fees sometimes totaling hundreds of dollars. Before you apply, be sure to ask what the total fees are and whether they will be refunded if you’re denied a card. Typically, a secured card requires an annual fee and has a higher interest rate than an unsecured card.
If you are considering a secured card as a way to build or re-establish a credit record, make sure the issuer reports to a credit bureau. Your credit history is maintained by companies called credit bureaus; they collect information reported to them by banks, mortgage companies, department stores, and other creditors. If your card issuer doesn’t report to a bureau, the card won’t help you build a credit history.
The company is also urging consumers, financial institutions, banks,and credit unions that offer secured credit cards for people with bad credit programs to contact them by email at email@example.com so they can provide the consumer with the most comprehensive list of credit opportunities that can help consumers get back on track to having good credit once more.
Bad Credit MD has been in business helping consumers with bad credit since April of 2007 and is a subsidiary of Enticing Designs Publishing. The staff has various backgrounds in the financial and mortgage industry. This self-help site has over 500 pages of credit advice and articles. Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.
To inquire about Enticing Designs Publishing please contact us at firstname.lastname@example.org.