Improve Your Financial Future with a No Credit Check Credit Card

Navigating today’s society without a credit card in your wallet can be treacherous. Need some gas after hours when the cash window is closed? Forget it. Want to make an airline or motel reservation? No can do. How about renting a car? Uh-uh. And you better forget about shopping online,Guest Posting because there is no paper money slot on your PC.Many people who would like to use credit have difficulties qualifying. The primary reason is that they have damaged their credit score by defaulting on a credit agreement in the past, and therefore banks and other financial institutions consider them a bad risk, thus denying their application.For those who would like to repair their bad credit with a new card, there are options available.Secured Credit CardsA secured credit card, like a secured loan, is backed up by collateral–something of value which you agree to surrender in case you do not make your payments. In the case of a secured card, your collateral must be cash.Some banks will hold your cash in a “security” account for up to a year. Meanwhile, you will use your VISA, MasterCard, or other credit card to pay bills and make purchases, paying at least the minimum payment each month on your credit card balance. You will pay additional fees for your secured credit card, including:

Interest on unpaid balance each month ranging from 9.9% to 19.9%
Account set-up fee ranging from $20 to $99
Annual fee ranging from $19 to $99
Program fee of up to $100
Late payment fee of approximately $30 each time
Cash advance fee of $5-$10 each time you get cash from your card
Over credit limit fee if you exceed your preset limit
Other miscellaneous fees
Meanwhile, if your bank is holding your initially paid cash in a “security” account, they may not be paying interest to you as they normally would for a conventional savings account. When the year is up, they may offer you an unsecured card, if you have made your payments faithfully, and return your security deposit.Other banks or firms which issue credit cards might use your cash collateral to pay your monthly credit card bill for you by direct withdrawal from your security account, and allow you to load more cash into that account to maintain or raise your credit limit.Any secured credit card has a credit limit range, and within this range–$200 to $5000, for example–your credit limit matches the cash amount you put up as collateral. So if you deposit $500 as security, your credit limit will be $500. Note, however, that your bank may withdraw its fees from this amount, effectively lowering your credit limit.To obtain a secured credit card, you must meet the minimum requirements of your issuing institution, including:
Be 18 years of age or older
Be employed
Be a U.S. Citizen
Provide proof of citizenship such as a Social Security number
Have a physical address
Provide your birth date
Banks are required by the Patriot Act to collect personal information such as your birth date and social security number for identification purposes. Because some institutions use this information to inquire into your credit history, make sure that the credit card you’re seeking is a “no credit check” card.If you do not like the idea of having a chunk of cash tied up in a bank account as security, you do have additional credit card options.Prepaid Debit CardWhile not technically a credit card, a prepaid debit card is quite similar to a secured credit card in that you load it with cash to determine your own limit on purchases–when you run out of cash, the card becomes inactive.One drawback in using a prepaid debit card is that it will have no effect, either positive or negative, on your credit report. A secured credit card, in contrast, can help repair your past credit mistakes if you keep your payments up to date; banks and companies which issue secured credit cards do report your performance to the credit agencies, while a prepaid debit card does not show up on their radar.
The many positive factors involved in using a prepaid debit card include:
You can’t overextend your finances
The fees are lower than a credit card’s fees
Your cash is not tied up; you can spend what you load onto the card
It is easy to obtain with no credit check
It doubles as a credit card in most situations
If you place importance on working towards a better credit score but do not wish to make a large outlay of cash to secure a credit card, there are unsecured, no credit check credit cards available.Unsecured No Credit Check Credit CardsYou may be thinking that getting an unsecured credit card with a dubious credit history is as easy as opening up one of the countless pre-approved credit card offers you receive in the mail each day. If you have read the fine print on one of these offers, you know that pre-approval is contingent upon an acceptable credit investigation. In other words, these offers are usually only useful to individuals with good credit scores who already have credit cards.With a bad or nonexistent credit history, you will have to look harder for an acceptable credit card offer. There are some credit card programs designed especially for people like you, but they come with a high price tag. Once you have defaulted on a loan or other credit program, you become a bad risk to a credit card company In order to offset the risk, the company will charge high fees for giving you a second chance at managing your credit.
Some of the fees you will encounter in an unsecured, no credit check card include:
Interest on your unpaid balance starting at 9.9% annually and up
A one-time program fee–$100 or more
Annual credit card fee which varies according to the issuing institution
Monthly service fee
Minimum finance charge, even if you do not carry a balance
Cash advance fee, either a set amount or percentage of your advance, whichever is greater
Late payment fee
Over limit fee
Monthly account fee (yes, in addition to the service fee in some cases)
Credit limit increase fee—as much as $25 for each increase
The fee roster and fee amounts can vary wildly on an unsecured, no credit check credit card, so make sure you comparison shop before committing to any particular program. In one finance company’s example, once it deducts all applicable fees from an initial credit limit of $250, the actual limit is whittled down to $71. Pretty dramatic, isn’t it?However, if you stay focused on your goal of rebuilding your credit score, limit your credit charges to what you have budgeted, and above all, pay your bill on time each month,

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Currency Trading

Currency trading has many benefits and it is also easier as compared to stock trading. Traders can start with low investment by choosing a broker that fits their requirements.

Forex trading is having many career opportunities as it is easily accessible by traders from all around the world. Currency trading is also used to denote forex trading. It is about being your own boss and making money with proper knowledge about worldwide currencies.

What Is the Forex Market?

Trading in currency pairs using the rates determined by the foreign exchange market is known as currency trading or forex trading. Traders buy and sell currencies at the determined currency exchange rate. When a trader sees any profitable opportunities,Guest Posting forex transactions are executed. Sometimes currency exchange is also mandatory.

What Is a Pair in Forex?

Forex trading requires currency pairs for trading. A pair indicates how many units of quote currency can be bought and sold against one unit of the base currency. A base currency is a currency that is listed first in a pair and a quote currency is listed second in a pair.

Traders cannot trade using only one currency, two currencies are important for trading in the foreign exchange market. The currency pairs are also classified into three different categories that are:

Minor Pairs

Minor pairs are also known as cross currency pairs and these pairs involve currencies of strong economies. They are less liquid pairs of the foreign exchange market.

Major Pairs

The currency pairs in this category include the US dollar against other currencies of strong economies across the world. These are highly liquid pairs of the foreign exchange market.

Exotic Pairs

These currency pairs are made of currencies of emerging economies. Their liquidity is very low in the foreign exchange market.

What Are the Advantages of Currency Trading?

The foreign exchange market is the largest financial market in the world. Many opportunities are available for forex trades from which they can earn potential profits. Forex traders are having multiple advantages of currency trading that are as follows:

24 Hours Availability

The forex market means the involvement of currencies from all over the world. It also means that the reach of the foreign exchange market is worldwide. The foreign exchange market is available 24 hours a day and 5 days a week. It is the only market that can be traded 24 hours a day.

Higher Liquidity

When we talk about the comparison of the forex market with other financial markets. The number of participants is highest in the foreign exchange market. This ensures that the currency trading is highly liquid in nature. Large orders of buying and selling can be executed in the foreign exchange market easily.

The best part of the market is that the prices or exchange rates do not deviate due to large orders. It ensures that the market cannot be manipulated. The exchange rates change due to other factors of the market.

Low-Cost Trading

Currency trading has a low commission or brokerage charges on orders of the foreign exchange market. Most of the forex brokers do not charge commission they only charge spreads between two currencies.

It is very low as compared to trading in shares which involves high commission or brokerage charges. Traders should take advantage of this and should make potential profits with forex trading.

Volatile in Nature

The foreign exchange market is highly volatile in nature, which means traders are having enormous opportunities for earning potential profits with their trading strategies. Analyse the market and predict when a price swing may occur. If you can do so you can make good profits with currency trading.

Less Capital Requirement

The forex market does not require huge amounts of capital for investment or trading. You can initially start with low capital also. Traders cannot take this advantage with trading in other financial markets. It is easy to make profits with a limited amount of capital in the foreign exchange market.

Trading Leverage

Leverage means you can use a higher amount of capital for trading as compared to what you have. It is given on a proportionate basis by many brokers across the world. It is also a good advantage of forex trading in which you can earn profits from the leveraged money of the broker.

Easy to Enter

Traders can easily enter the foreign exchange market. If you are looking for short-term profit-making opportunities then also it is a good option for you. There are plenty of trading choices available for a forex trader. They can make short or long term profits according to their requirements.

Is Forex Trading Easier than Stock Trading?

If we make a comparison between forex trading and stock trading, forex trading is a little bit easier than stock trading. As nowadays both of them can be easily traded with a reliable broker and understanding of the markets. Some of the elements of comparison are:

Currency trading can be commenced from a low investment but you have to pay the listed price of a share if you are opting for stock trading.
The liquidity of the forex market is higher as compared to the stock market that is having low liquidity because of a low number of traders.
Market hours of the foreign exchange market are more than the market hours of the stock market.
The factors of fundamental analysis are more with the stock market trading as compared to the factors of the forex market.
Leverage is available with forex trading, which is not available while you are trading in the stock market.
Stock trading requires an understanding of the balance sheet and profit statements of a company, which is not required in forex trading.
Investment instruments are higher in stock trading than instruments available in the foreign exchange market. It makes trades easy to select between them.
These are the factors that make forex trading easier than stock trading. Even though, there are traders who are making profits from both stock and forex trading. But if you are about to begin your trading career then you can start with forex trading which is comparatively less hard than stock trading.

How to Choose the Right Broker?

While choosing a broker for yourself you have to compare a wide range of features. There are many brokers to choose from but make sure you compare these points:

Commission charges by the broker
Amount of leverage offered
Number of trading assets available
Trading platform accessible
The requirement of minimum deposit
The broker is providing customer services or not
The availability of a demo account

Capixal is one of the leading brokers operating globally. It is offering a single-click trading feature to traders with a minimum deposit of $20 only. Traders can also opt for a demo account of trading. The best feature of this broker is that 24/7 dedicated customer support is available.

It also has a wide range of investors’ education material that can be easily accessed by investors. The trading platform is MetaTrader4, WebTrader, and mobile app that makes trading convenient for traders.

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