Bad Credit Cards

More and more people today are dealing with the effects of having bad credit. Once you fall into the debt trap it is easy to develop a history of bad credit, which in turn affects the rest of your life. It can be difficult to find a home and a job when you have bad credit, and finding bad credit credit cards can be quite difficult as well. Even if you do have bad credit, there are some options available to you. With more and more people having issues with a bad credit history, there are now more options than ever before available to people who are dealing with bad credit.

Special Offers for Those with Bad Credit

While in the past there were very few credit cards that were offered to people with bad credit, credit cards are now more accessible to those who have a credit history that is less than perfect. Many companies are beginning to realize that there is a huge market dealing with people who have bad credit, so there are now many special offers available to people who need some help with their credit. You can find quite a few credit card offers that are specifically designed for those who have problems with their credit history. While they do usually charge higher interest rates and many do charge annual fees, at least it provides you with an option.

Going with Secured Credit Cards

Another option for people who have bad credit is to go with secured credit cards. These are basically bad credit credit cards that require a security deposit in order to get the needed credit. Companies like to have the deposit before offering you credit to make sure that they get their money back, even if you do not pay off your credit bills. A secured card is a great idea for those who have less than perfect credit. Not only will it give you the credit that you really need, but you can also rebuild your credit with this type of a card as well.

Prepaid is an Option

Often people find themselves needing to have a credit card for a variety of reasons. This can be a problem when you are constantly denied because of bad credit. In some cases, getting a prepaid credit card may be a great option. Your credit is never checked for this type of a card, and essentially it works as a debit card does. You put money on the card, and then you are able to use it as a credit card. If you have bad credit, going with a prepaid card may be an excellent idea.

As you can see, there are options available for people with bad credit. Credit cards are available to you if you know where to look for them. Of course, the best idea is to take advantage of these cards and build up your credit so that you will later qualify for other types of credit cards that are more flexible.

Bad Credit Cards

Why cutting up your credit cards won’t make you rich A popular TV personality often says, “Take out your credit cards and cut them into pieces.” While that is sound advice for people who are not financially responsible, it is inadequate advice for anyone who wants to become rich or financially free. In other words, just cutting up your credit cards will not make you rich. What does make you rich is financial education…unfortunately a type of education we do not receive in school. If a person has a solid financial education, they would know that there are two kinds of debt…good debt and bad debt. A person with a sound financial education would know how to use good debt to make them richer faster…much faster than a person who only saves money and has no debt. Rich Dad’s Guide to Becoming Rich * Are you in credit card debt? * Is job security dead? * Is your financial security threatened? * Is a high-paying job the answer? * Is your money working for you? * Do you have good debt or bad debt? We all need more financial education. We need to know how to have our money work hard for us so we don’t have to spend our lives working for money. That is why we need more sophisticated financial education…not oversimplified and childish financial tips such as cut up your credit cards or save more money. If you are ready to increase your financial education and enjoy your credit cards, then this book is for you.

About the AuthorRobert Kiyosaki founded an international financial education company and invented the board game Cashflow. Sharon Lechter is an accountant who now focuses her efforts on creating educational tools for anyone wishing to better their financial education.

From AudioFileThis installment of an enormously popular series delivers a hefty compendium of ideas, anecdotes, and money management policies that the author claims will change the fortunes of all who are disciplined enough to implement them. The affable Jim Ward guides listeners though the corridors of thrift, wise investment, and reinvestment, occasionally providing case histories and testimonials to validate and motivate. His delivery is sincere but never overbearing, perhaps reflective of the comfortable state of mind one reaches when rich. While some of the content boils down to common sense, the remainder offers listeners credible methods for gaining financial freedom. D.J.B. © AudioFile 2004, Portland, Maine– Copyright © AudioFile, Portland, Maine

Most helpful customer reviews

63 of 70 people found the following review helpful.
Guide to Becoming Rich — Book Summary
By Justin Belkin
Kiyosaki wrote this book as the eighth installment of his Rich Dad Series. The book serves to constantly remind us that the key to increasing our chances of becoming wealthy requires the willingness to the pay the price. Discussing all the get rich schemes, such as game shows or playing the lottery, Kiyosaki writes, “There are better ways to become rich, with much better odds, but most people are not willing to pay the price” (x). The price to pay is the time and money you spend investing in your financial intelligence.

Kiyosaki recalls a truism once observed by Rich Dad, “The only people who think life should be easy are lazy people” (3). Kiyosaki rejects frugality as the best way toward becoming rich. Instead he recommends paying the price for higher financial intelligence, “…another way to become a millionaire is to improve your financial literacy, your financial intelligence, and be willing to be accountable to yourself, your results, your continuing education, and your personal development in becoming a better human being…that was a price I was willing to pay to become a millionaire” (81). Adopting such a mindset becomes tantamount to swimming against the current. Possessing faith and the fortitude to dedicate your life to accumulating wealth in this manner is crucial to overcome such naysayers as friends and family.

Rich Dad also observed, “One difference between a successful person and an average person is how much criticism they can take…Most people feel safer in the herd of the average” (150). Criticism tests one’s resolve. You must be willing to make mistakes and to learn from them. Kiyosaki writes, “…the price of becoming rich is the willingness to make mistakes, to admit you made a mistake without blaming or justifying, and to learn” (18). A person who has risked little in life has also gained little.

The book states clearly that the path to wealth is not to cut up your credit cards and decrease your means, but to work to increase your financial intelligence so that you can increase your means by acquiring income-generating assets. This strategy holds the greatest potential for accumulating wealth, but it also requires the heaviest investment in yourself.

51 of 56 people found the following review helpful.
Good e-book – A new perspective
By Sherie Keach
With so many other so called financial experts urging us to cut up our credit cards, what a refreshing change it is to read from a real authority who indicates that you not only don’t have to cut up your credit cards but can actually become wealthier by using them.

I like my credit cards too and I highly recommend this program by Kiyosaki.

45 of 49 people found the following review helpful.
Interesting philosophy – Amazon: Learn to Add!
By A
I downloaded this e-book – could’t wait for the paperbook to come out and found Kiyosaki’s philosophy really interesting. What a refreshing approac to NOT cut up your credit cards. In actual fact, I have been using my credit cards to make me money for 13 years now. Glad to see that someone with credibility has come forth and is setting the record straight. Like cutting up cards is going to help you. That is like saying put al ock on your refridgerator and don’t eat if you want to lose weight.And Amazon–I counted one 5 star review and one 1 star review but this e-book is still rated a 1! Somebody needs a math class!

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