The Best Credit Card to Get after Divorce- Rebuilding Your Credit on a Single Income (cont.)
Contributed by Lisa Marie
Maintenance fee credit cards are another best bet if you don't have the cash to open a secured credit card
Maintenance fee credit cards, although will probably have a lower interest rate that secured cards, can have a lot of fees associated with them. They can have an annual fee, a monthly maintenance fee, a security fee, a monitoring fee, a processing fee or other fees -- -even all of them combined. Just make sure that you read the fine print and the fee chart so that you can fully understand what you're getting into. Even if they give you a credit line of $500
00, if half of that line is taken up with fees for the first month alone, is it really worth it? You be the judge. You do need to rebuild your credit- if this is the only option for you, then you might want to consider taking it.
Credit bureaus can help you in deciding your best credit card options
Most people do not realize that the credit bureaus are here to help you, not the creditors. You can simply access their websites (Experian, Trans Union and Equifax) to gain access on credit card options, and deciding which ones are the best for you.
Please be advised, that as you read in this article, cheapest is not always best. You will have to deal with a high interest rate for a while, so you might as well get it over with. If you're smart about it, your credit can be repaired quickly ao you can go out and enjoy the single life.
