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Guaranteed Approval Credit Card

Written by Kathleen Gagne
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If you have perfect or even great credit, you will be able to get just about any super credit card offer out there, but, if you're like millions of others who have problems keeping up with payments, that door is closed to you. You may be a good candidate for a guaranteed approval credit card. This type of card comes with a higher cost, but it can be a way to rebuild your credit so that you can eventually get better rates.

The best, and easiest, place to find guaranteed approval credit cards is on the Internet. As with all credit card offers, you will need to do some research, and you absolutely must make certain that you read all the fine print. Even if you're desperate to reestablish credit, you don't want to find yourself paying over $300 for $300 worth of credit, especially when there are better guaranteed approval credit cards available to you.

How to Find the Best Guaranteed Approval Credit Card

As noted above, the best place to find these cards is online. Simply go to any search engine and enter the keywords, "guaranteed approval credit card." Then check out your options. Most of these cards come with an origination or set-up fee. Many also come with a monthly maintenance fee and a high annual fee. You will also want to try to find a card with a fixed interest rate.

In the long run, the monthly maintenance fee and a high annual fee will cost you more than you probably want to pay for credit. If you really need a card, you may want to look for one that has one or the other, but not both. If you're a really organized person, you may want to make a quick comparison chart listing the card name, the set-up fee, the interest rate (whether variable or fixed), monthly fee and annual fee. You should also include whether a single late payment can result in an interest rate increase. While these cards can be pretty expensive, reestablishing your credit may be worth it if you do the work to make sure you've found the best deal out there.

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