Let's take a look at one site that gives us a glimpse into more than 70 credit cards, some of them cheap credit cards, from many countries of the globe.
The first, the American Express Blue credit card, was reviewed ten times (score is from one to ten, with one being the worst and ten being the best.) Interestingly enough, this credit card had ratings that ran the gamut from one to ten. Overall, its valuation as a cheap (as opposed to more costly) credit card was 7.9, which is quite good. Customer service rating on this card was not quite as good, but better than average at 6.2. 90 percent of the reviewers, or nine out of ten, recommended this as a good buy if you're looking for quality but cheap credit cards.
33 cheap credit cards users reviewed the Aspire Visa credit card. This didn't look to be a good choice for cheap credit card, according to these reviews. Only nine percent of the Aspire cheap credit card users recommended its use, and for overall value as a good buy in cheap credit cards its rating was one out of ten.
Accucard credit card, however, even with only two reviews, was a strong recommendation if you're in the market for cheap credit cards. Both reviewers gave this cheap credit card a rating of ten out of ten. What could be better? One reviewer said that this credit card has great rates and low annual fee (making it a top notch choice when comparing cheap credit cards) and, in fact, you have a lot of variety with this card, actually choosing your rate and credit card, and changing that choice as your needs or budget changes.
The second Accucard reviewer said that it was the best of the cheap credit cards, currently offering 1.6 percent cash back the first six months you use the card.
Virgin credit card, according to the twelve cheap credit cards reviewers that rated it on this site, doesn't seem to be the best choice in cheap credit cards. The overall rating is a very low 1.8 out of ten. At first glance it looks like some pretty extensive accounting and customer service errors on the part of this cheap credit card company. One reviewer talked about a nightmare experience, especially if you've chosen this card because you need cheap credit cards. First they overcharged the interest, and then they corrected it but overcharged again. Another reviewer said the interest rate on this allegedly cheap credit card went to over 24 percent without any notice.
For customer service the Virgin cheap credit card earned a 1.4 out of ten from these reviewers. The same rating was given for value (not one of the cheap credit cards, according to these folks.) Its overall value was a two, with recommendations to purchase from only 17 percent of the reviewers.
Cheap Interest Credit Cards
One of the first things you're going to have to do, in order to get out of your debt spiral and get your life back on track, is to understand that you are not a horrible person. It's important that you understand this, so you can get out of your depression and despair enough to move forward and start getting yourself out from under all of this debt.
Almost everyone uses a credit card these days. No one intends to get in trouble. You, like everyone else, just allowed things to literally spiral out of control. Whether your credit card problems were caused by impulse spending, an emergency or a decrease in income, what caused it doesn't matter.
At this point, you need to start looking forward and identify some ways that you can break out of the pattern of behavior you're in.
Diagnosing the problem is the first step. Can you pay all your bills, even if it's a struggle? Are you paying only the minimum on credit cards? Are you paying off credit cards with other credit cards? You need to understand how serious the problem really is, before you can know what to do about it.
If you're able to pay all of your bills, but it's a struggle, you may qualify for debt consolidation, or some credit counselors may be willing to help. Others will not speak to you until you're a month behind on at least one payment. If you're behind on your credit cards, cancel the accounts, cut up the cards, and seek credit counseling if possible.
Whether you work with a credit counselor or not, your first goal is to cancel all your accounts so that you don't incur new debt. The next step is to make a plan for paying your creditors, and send them a letter explaining what you will be paying until the debt is cleared.
Many debt reduction experts suggest putting 20% of your income toward your debts, giving each creditor a proportional payment. When you pay one off, you add that money to the other payments.
While creditors will not like being told that they'll receive an amount less than the minimum on your statement, many will not take you to court, as long as you do what you agree to do. They may put this on your credit record, but at this point, your credit record is not a big problem. The goal here is to get out of a growing mound of credit card debt and begin to get your life back on track.
The important thing to understand, in trying to get out from under crippling debt, is that you have to take care of yourself and your family, too. You can't live on nothing. You need to create a plan that gives a portion of your income to your creditors, because you do owe the debt. But make sure you're taking care of your own needs first, because your health and your family come first.
Both Morgan Hamilton & Brian Higdon are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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