How to Avoid a Bad Credit Card Offer

A Credit Article Contributed by Augusta Wilson

What Constitutes a Good Credit Card Offer Anyway?

A credit card offer is quite simply a predetermined credit package. A credit card allows you to make purchases against a line of credit, with the expectation that you will pay off the balance, as outlined in your User's Agreement with the company. There are some very good credit card offers out there, especially those offered by major banks.

Financial groups like Citibank, Chase and Bank of America have credit cards offers designed for a variety of consumers, from students to those with less than perfect credit. Many of these credit cards on offer will have low introductory APRs, with low interest rates thereafter, and many will have no annual fees, and offer 0% liability, on all unauthorized purchases.

How Do I Know If a Credit Card Offer is Bad for My Financial Future?

Just as there are numerous good credit card packages available out in cyber space, there are also many bad ones on offer. Sadly, many unethical companies will try to take advantage of those with damaged credit, under the guise of the trying to help them to build a better credit profile. So, how do you know what to look out for? Generally speaking, there are two types of credit cards, secured and unsecured. Many 'bad' credit cards offers are for secured credit cards. Why?

Because these types of credit card offers are designed specifically to help those with bad credit build their credit score. A secured credit card is usually ties to a savings acount- this is what 'secures' it. If you have $500 00 in the saving account, then you can spend $500 00, on the card. Not all secured credit cards should be avoided, however; some are genuine offers, allowing consumers to have the benefit of a credit card. Here is a brief guide to the worst credit card offers on the web.

One of the worst deals on the Internet is the First PREMIER Bank Gold Card.

It has a 9.9% APR, with no low introductory rate, and a whopping annual fee of $120.00. There are no reward incentives, like cash back on money charged, or even air miles.

Another deal you want to avoid is the USA Gold Card. It claims that you will receive a credit increase and access to credit management services, upon submitting a successful application. However, with an annual fee of over $200.00, it would definitely best to avoid this credit card offer!

The Centennial Visa or Master card tempts unsuspecting applicants with the promise of the status of having an unsecured card, but its interest rate of over 19% sends up a few red flags.

But I Have Bad Credit- is There a Card Offer That is Good for Me?

In an answer, yes. Having a secured credit card is not necessarily a bad idea, especially if you have a poor credit history. Just take your time, and look around, and you will find an offer that is just right for you.