Uk Bad Debt Credit Cards

Written by Ingrid Chen
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When applying for UK credit cards, obtaining a card with reasonable interest rates and fees may seem next to impossible if you suffer from a poor credit rating. It is true that credit card companies carefully consider your credit record when allowing you more credit. There are companies, however, that are more than willing to work with you during times of financial difficulties.

How Does Bad Debt Affect Me?

Interest fees may be generally higher for owners of poor credit ratings than those with a good credit history. Attractive introductory fees that exist for most credit card customers might not be entirely available to those with sub-prime credit. A fair credit card company will be upfront and honest with you about any initial fees and incurring rates that may apply with each credit purchase.

Be wary of cards whose rates are so high that you are only able to pay off the interest each month, and not the balance. This is a common way that individuals find themselves in bad credit situations in the first place. Also watch out for companies that claim to "erase" bad credit instantly. A vast majority of the time, these "credit wizards" charge high fees for ultimately fraudulent "fixes."

The only way to really affect your bad credit is to watch it carefully and take positive steps. Obtain a copy of your credit report and look over it carefully, as oftentimes there may be slight errors that can affect your credit rating. As much as the credit card companies may do to help you maintain your finances in a reasonable manner, it is ultimately up to you to watch your spending habits.


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