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Unsecured Credit
Card | Top Companies: This Week's Reviews |
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| Services Offered:
Unsecured credit card |
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| Company Overview:
Discover is a leader in the credit card industry, and
offers credit cards to consumers with good credit, in
most cases. They were founded in 1986 and made their
first appearance during the SuperBowl that year. The
company had over $3 billion worth of transactions in
2006. They work with the PULSE network, which has over
260,000 ATMs around the world and more than 4,000 bank
connections, as well. |
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| Our Review:
Discover is a great company for unsecured credit cards.
Their website is really simple to get around, and the
customer service is outstanding. They are a major
creditor, which means that their reputation speaks for
itself. Their customer service is top-rate, as you would
expect from a company like this. |
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| User Review:
Discover was always a company I dreamed of working with.
When my credit was good enough, I decided to apply for
an unsecured credit card, and I’m glad that I did. They
were so helpful and had so many different cards to
choose from. I love my Discover card! |
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| Services Offered:
Unsecured credit card |
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| Company Overview:
Credit Axis works with more than 80 creditors and
lenders to serve consumers of all credit types. The
company was formed in 2003, and has many different
credit resources and lending services for consumers on
their website. |
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| Our Review:
Credit Axis has some unsecured credit cards with pretty
great rates, considering that they generally serve those
with bad credit. The company is a good one to work with,
because the website is easy to use, the forms are
simple, and the customer service is very professional,
and always right there waiting when they are needed. |
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| User Review:
Credit Axis found me a credit card with 13% interest!
Sure, that might seem a little high, but when every
other offer I got was for over 20%, it was a heck of a
deal. It was an unsecured credit card, too, so I didn’t
have to pay any fees to get it. I’m grateful that they
gave me a chance! |
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| Services Offered:
Unsecured credit card |
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| Company Overview:
Bank of Internet is an online-only lender that was
founded in 1999. With more than $1 billion in assets,
they have quickly become a leader within the online
banking world. They offer credit cards, banking
solutions, and loans for consumers and businesses alike. |
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| Our Review:
Bank of Internet is still one of our favorite places to
get credit cards and loans. They have something to offer
just about everyone, and their products are really easy
to find. The website is simplistic in its design, and
the company’s customer service, of course, is excellent. |
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| User Review: Bank
of Internet had crazy rates on their credit card
products. I couldn’t believe my eyes at first. I ended
up applying for a card, and got approved instantly. The
customer service team was there to help me every step of
the way, too, which was great. |
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| Services Offered:
Unsecured credit card |
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| Company Overview:
First Plus Platinum is an online credit card company
that was formed in 2007. They offer guaranteed approval
on unsecured credit cards to anyone who needs one. Their
services include a variety of programs and more than 10
credit card offers. Their contact phone number is
designated only for customers and new applicants that
want to apply. |
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| Our Review:
First Plus Platinum is great, because they work with bad
credit customers when many other companies won’t. Their
credit card programs are all easily understood, and the
website has a simple design and is easy to get around.
And for customers and applicants, customer service is
only a phone call or email away. |
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| User Review:
First Plus Platinum offered a great unsecured credit
card, even though I had terrible credit. It was great
that someone was able to trust in me and get me the card
that I needed to help rebuild my credit. I love
everything about them, including their great customer
service. |
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Other Top Companies for
Unsecured Credit Card : |
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What’s an Unsecured Credit Card? |
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An unsecured
credit card is a credit card that has no asset or
property attached to it. If you look at it from the
perspective of lending, it is easier to understand. A
home loan or auto loan is considered secure, because the
home or car can be repossessed by the bank if people
don’t pay. A credit card, on the other hand, is
generally not secure, because it is just a credit line
that is given to the customer, and if they don’t pay,
the bank has nothing to fall back on. The majority of
credit cards are unsecured credit cards. People who have
bad credit, however, are often offered a secure credit
card through a bank or credit card company, which is
usually secured by a fee that is paid or a deposit that
is made toward the approval of the account. For example,
if someone gets an approval for a credit card with a
$500 limit, but they are required to pay a $100 or $200
deposit first, that would mean that they are getting a
secured credit card. If you just go to the website of
any bank or creditor and fill out an application, you’re
usually applying for an unsecured credit card. This
means that you’ll get a credit line with a set interest
rate, but there will be no fees or deposits required of
you before you are fully approved to use the card. Based
on your creditworthiness, you will be given a certain
credit limit with your unsecured credit card, that you
are expected to pay back in good faith. If you don’t pay
back the balance, though, all a credit card company can
do is to send your account to collections, which will
negatively affect your credit. To put it more simply, an
unsecured credit card is a credit card that has no
“catch” attached to the approval. You just have the
card, use it as you like, and pay it off. In the event
that you don’t repay the money on time each month, the
bank or creditor loses money.
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