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What is the difference between a credit card and a debit card?

One of the main differences between debit and credit cards are the use of money. Debit is usually your own money and credit is borrowed money.

Second Chance Credit Cards

second chance credit card unsecured

FIT Mastercard®

The Fit Mastercard® is designed for people with less than perfect credit.

$400 credit limit doubles to $800! (Simply make your first 6 monthly minimum payments on time)

  • All credit types welcome to apply
  • Monthly reporting to the three major credit bureaus.
  • Initial Credit Limit of $400.00* (Subject to available credit).
  • Fast and easy application process; results in seconds.
  • Use your card at locations everywhere Mastercard® is accepted.
  • Free access to your Vantage 3.0 score from Experian* (When you sign up for e-statements).
  • Checking Account Required.
Click Here To Apply
second chance credit card with no security deposit

Applied Bank® Unsecured Classic Visa®

Get Pre-Qualified in Less Than a Minute. It features a $300 limit.

  • A $300 Unsecured Credit Line which can be used at Grocery Stores, Gas Stations, Discount Stores, ATM's and Online!
  • A REAL Visa® Credit Card with Automatic Reporting to all Three National Credit Bureaus.
  • No Penalty Rate. Your Rate Won't Go Up Even If You are Late.
  • Access Additional Credit With On-Time Payments and Responsible Usage.
  • A True Unsecured EMV enabled (chip) Visa Credit card.
  • Does not require perfect credit for approval.
  • Fixed APR and Manageable Monthly Payments.
credit card for bad credit

Reflex Mastercard®

The Reflex Mastercard® is designed for people with less than perfect credit.

Credit Limit Range: ($300, $500, $750, $1,000)

Up to $1,000 credit limit doubles up to $2,000! (Simply make your first 6 monthly minimum payments on time)

  • See if you’re Pre-Qualified with no impact to your credit score.
  • All credit types welcome to apply
  • Free access to your Vantage 3.0 score from Experian* (When you sign up for e-statements).
  • Monthly reporting to the three major credit bureaus.
  • Fast and easy application process; results in seconds.
  • Use your card at locations everywhere Mastercard® is accepted.
  • Checking Account Required.

Choosing The Right Card

We've all seen the commercials, but why do we need to use a credit card? Credit cards are accepted worldwide, while debit cards are not. With credit cards, you can make purchases without actually having cash in hand or enough funds in your account. You also get rewards points for using it and it's safer than carrying cash. However, if you don't pay off the balance at the end of the month, interest rates will rise and could lead to bankruptcy.

Debit cards function just like checking accounts with low-level access to funds that are used for daily transactions like groceries or gas station purchases. You can get cash back on debit cards too! And they're cheaper than using a credit card because they don't have an annual fee and there is no interest rate.

Debit Cards vs. Credit Cards

The question of whether debit cards are better than credit cards or vice versa is one that has been asked for years. The answer to the question, in the end, depends on the individual. Some people prefer debit cards because they can't spend more than what they have in their checking account, while others prefer credit cards because they get rewards and cash back when purchases are made. It all comes down to what you value most at the end of the day - spending power or rewards.

What Are Prepaid Debit Cards?
Prepaid debit cards are a convenient way to pay for everyday necessities without the risk of overspending, but it is important to note that they do come with certain downsides. They offer the benefits of both credit and debit cards, such as flexibility and security. You can use them at any time and spend only what you have on them, making this type of payment method useful for anyone who has trouble sticking to predetermined spending limits.

What Are Cashback Reward Cards?
A cashback reward card is a credit card that offers an incentive for using it responsibly. Cash back cards offer a percentage of the purchase price back as a rewards bonus. Some people prefer to use cashback cards because they don't have to worry about interest rates, late fees, or other charges. The benefits of cashback cards are easy to understand and can be considered an added bonus for shopping.

Which Credit Card is Best for You?
The best credit card for you is the one that will get you the rewards that are most relevant to your lifestyle.
Choosing a credit card can be a confusing process. There are so many options out there, all promising different benefits to lure you in. But before choosing one, figure out what type of rewards you want it to offer. Then compare the different cards based on what they offer in terms of reward amounts and other features like cash back, airline miles, gas discounts, shopping discounts, etc.

How to Choose Which Credit Card Fits Your Needs?
With so many credit cards on the market, it can be hard to decide which one is the best for you. Different types of cards offer different benefits so it’s important to figure out what your needs are in order to find the perfect card. There are six main categories of credit cards: cash back, rewards, balance transfer, travel rewards, secured credit card and student credit card. From the six major categories there are dozens of specific perks that people can enjoy depending on their needs.

The most popular ones among consumers are cash back and travel rewards cards. If you spend a lot of money on groceries or clothes then a cash back card might be more suited for you while if you plan on travelling abroad often then a travel reward card might be better for you.

How To Improve Bad Credit?
It is still possible to have a good credit score despite having less than perfect accounts reporting. It takes time to heal your financial life, but you can climb out of debt and improve your credit rating with consistency. To improve bad credit, you need to first work on paying down your debts and making sure that all of the accounts in your name are in good standing. Next, you might want to consider opening a new account such as a secured card or applying for a department store card so that you can start establishing some positive payment history again.

What Are Credit Cards For Bad Credit?
Credit cards are an important part of everyday life. They are used for making purchases, paying bills, transferring money to other payees, and getting cash back. People who have good credit ratings can use their credit cards without any problem. But there is a growing number of people who need credit cards for bad credit because they cannot get approved for any other type of card.

Bad credit card companies often work with people with all types of income levels and backgrounds, but the process is usually much more complicated than it would be for someone with good credit. The following list includes some features that you might like to know about before applying for a card:

- No deposit needed also known as unsecured - It's not always necessary to put down a deposit in order to be approved by the company giving out the first line of defense against.

- Deposit needed also known as secured - if you have been turned down there is an alternative way to build credit. A secured card requires a security deposit minimum of $200.00. This deposit is your credit limit that will be used to establish history and reports to all three bureaus.

Up Next: Read how Barclays credit card is one of the best cards for people with great credit.

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