Bad credit credit cards guaranteed approval

Guaranteed approval is a common phrase associated with finance providers that do not carry out credit checks using credit reference agencies such as Experian and Equifax.

These finance providers whether they are offering loans or credit cards only carry out status checks as a means of making sure you are who you say you and that you have a regular income.

Guaranteed approval credit cards have prepay features

Companies like Vanquis Bank  are probably the largest and best known of these types of finance providers that offer bad credit credit cards guaranteed approval to their customers.

Obviously, dealing with those with bad credit means that often these cards have features such as prepay to make sure you pay back what you can afford.

Bad credit credit cards guaranteed approval explained

Financial instruments such as credit cards are instantly and unquestionably out of reach for all those whose credit histories do not permit it. Any major credit card company or bank issues credit cards only to those who have a high credit rating and are known to consistently pay their bills on time. As such, for those with no credit rating or a bad credit rating, it becomes exceptionally difficult to gain a credit card for their convenience in the UK.

The bad credit credit cards guaranteed approval are a fantastic approach to the problems of these people. Available online across the UK, these cards come in a variety of formats and are extremely easy to avail because of their instant approval and no credit rating verification system. An objective look into these credit cards will show that the people who do not have access to regular cards, find that they suffer quite a bit because of the universally digital nature of transactions today.

These cards maybe very limited in their function from the normal man’s standpoint but given the fact that they can be availed instantly and can be used very safely despite a bad credit score, makes them invaluable to their users.

There are two major types of bad credit, credit cards. They are:

Prepaid Cards: These are cards which do not have any APR or other subsequent fees because they are directly linked to the money that the user will put in the account. Basically, the customer will have paid for his/her purchases even before swiping their cards.

They are great as they can provide timely help to the user while effectively controlling any excesses.

Credit Cards: These are proper credit cards that require monthly payments and entail APR and some other interest rates as well. There is a wide variety of cards from many banks and they have different APRs and entailing costs.

The average APRs in UK range between 29.9%-35.9% p.a. The average credit limits of these cards can range between 1000-1200 pounds. As such, they provide a great way for people to use them conveniently while increasing their credit scores with regular payments and timely clearance.

These bad credit credit cards guaranteed approval as said before can be applied for in a matter of minutes on the internet itself. Approval is guaranteed because of the nature of the system which entails no credit checks. As long as requirements of working bank accounts and verification of identity and address information are successful, cards can be availed almost instantly and they can be used like any normal credit card.

The most beneficial factor of these cards is the chance for people to be able to repair and increase their credit scores by systematically using the card and repaying promptly. These cards are also very safe and secure and can be used almost anywhere. Most cards come with fraud protection and other security measures.

Regardless of the nature of the cards, they are a perfect way for people with bad credit to experience the convenience of credit cards and simultaneously try to re build their financial reputations.