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TERMS AND CONDITIONS APPLICABLE TO BAD GAMBLING CREDIT CARD PROCESSING

  Having a bad credit report will not only hurt your present situation but also your future financial situation. One method to keep you safe from the evils of debt is by using the credit card responsibly. But if you are already deeply got in to bad credit then the only option for you is the bad credit credit card. These are very similar to the regular credit cards but are designed only for the high risk individuals.

You are branded as a high risk individual by the credit card companies because your credit score is very low. The “Bad Credit Credit Card” must be responsibly used by you so that your situation will not worsen. If you feel that you will not be able to pay the monthly instalments for this card also, then it is advisable that you just don’t apply till you are in a better situation. However, if you think you can manage it then do the proper research before you apply for it. You should check out some of the common terms and conditions for these cards before you apply for it.

Credit Limits

The credit limits are very low in “Bad Credit Credit Cards”. The highest possible limit you will be able to get will be about $1000. This is done to protect your interests, to stop you from over spending again and get in to a lot more trouble. Therefore, do not mistake it as a drawback.

APR rates

The APR rates on these cards are reasonable and are around ten percent. Do your research properly and find the card that will offer the lowest rate. This will not only save you money but will also make the monthly instalments much lower and make it easy for you to pay it back on time.

Reporting to Credit Bureau

Be sure that the company that issues the credit card to you will report your transactions to all the major credit card bureaus. This is very important because it will help improve your credit score. If a company is not doing this then choose another company which does report to the credit bureaus. Therefore, call the customer care and verify with them. Also, try to verify the information on the internet.

Fees

With most types of credit cards the annual fees is not longer charged, however with the “Bad Credit Credit Card” you have to pay an annual fee. Don’t try to waste your time and energy in finding a company that does not charge this fee. The credit card companies charge about $50 as annual fee for the “Bad Credit Credit Cards”. This is done to protect the company. It is one fee which you have to accept when you have low credit score, but need some credit.

Another fee that is common with the “Bad Credit Credit Card” is the enrolment fee. Again, this is not applicable for the regular credit cards. But for the “Bad Credit Credit Cards” there is no other option but to accept it. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.