Apply for Instant Bad Credit Credit Cards – Obama’s New Government Plan
Posted on | February 25, 2010 | No Comments
When applying for an instant bad credit credit card you could find that Obama’s new government plan changes the way that these credit card companies do business. It may not change the application process but what it could drastically change is the qualification process.
With credit card companies knowing that they cannot change your interest rate without a 45 day notice they might be reluctant to give you a low interest rate to start. Many of us can remember when we received credit card offers in the mail with 0% introductory rates almost everyday.
While the good credit borrowers are likely to get these low introductory rate credit card offers it is quite possible that bad credit borrowers will no longer have this option. President Obama’s new government plan is attempting to force credit card companies to adjust interest rates less and less.
With this being the case they are going to try to slap a high interest rate on credit cards that bad credit individuals take out. Unfortunately, the bad financial decisions you made in the past are going to hurt the interest rates you get on the money you borrow today.
Author: Heather Best
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