Credit Bureau Reporting, a Bonus of Easy Approval Cards

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Easy approval credit cards represent a step in the right direction for the many of us who have pretty bad credit. These cards have a significantly lower set of standards for an applicant in order to be accepted, and are available from several issuing companies. They also have several features that, if utilized properly, can help move your credit score in the right direction.

As one would expect, though, these cards come at a cost to the applicant in comparison to other cards that are a little more challenging to acquire. Many have an ‘account setup’ fee, and nearly all of them have an annual fee as well. Easy approval cards typically have a low credit limit, usually in the mid to low hundreds, as well as varying interest rates. Some advertise rates as low as 9.9%, though to qualify for such an APR your credit would probably have to be pretty good, likely good enough not to need an easy approval card. Others advertise APRs as high as 19.75%.

Very few, if any, have a low introductory period with their interest rates, so you’ll dive immediately into whatever APR you get assigned. There are a few easy approval cards that allow balance transfers,...

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