Apply for Instant Bad Credit Credit Cards – Less Rewards Coming?
Posted on | January 31, 2010 | No Comments
If you are looking to apply for an instant bad credit credit card then you must realize that big changes are coming over the next few weeks. At the end of February 2010 the credit CARD act will become law and many credit card companies plan to change the way they run their business. One change that you might see is that there are less offers for rewards.
If you have very bad credit you have probably noticed that the amount of credit card offers you receive has dwindled. Not only have the offers dwindled but you are also likely to see much less attractive offers. Instead of getting great rewards and 0% introductory APR you are getting something much less alluring. Most introductory rate periods have shrunk to six months and rewards have been cut.
If you are a very good borrower and you have not missed bill payments in the recent past you may be getting some offers but do not expect this to last. After the credit CARD act becomes law you can expect credit card companies to be very tight with their lending and rewards programs. It would be no surprise to see some of these companies cut the rewards programs altogether.
Before you decide that it is right to apply for an instant bad credit credit card it would be smart to look at your overall financial situation. It you have missed many bill payments in the recent past and you have seen your credit score drop you might want to work on improving your credit score before taking out another credit card.
Author: Mike Garner
Comments
Leave a Reply