A little blog where I explore credit cards
Those who just a few short months before had the financial ability to buy whatever they desired now were helpless to do anything but watch their good credit rating evaporate. In years past, bankruptcy would have meant that all purchases would have to be made with cash for at least seven years, rendering big purchases such as appliances and cars pretty much out of reach. Now, a creditor who wants to reestablish his good credit rating can turn to secured, or bad credit credit cards to start the process. Bad credit credit cards are not meant to be an easy fix for the irresponsible, however. An upfront cash deposit is required to obtain bad credit credit cards, and they allow only a minimal initial credit limit.