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credit card with no credit

This program is intended for developers who are studying credit or debit cards algorithms, and persons who want to test their own working credit card numbers. Don't try to use DisCard (or similar programs) to attempt actual payments or frauds: nowadays shops, e-commerce websites, and banks check if credit card numbers they receive were actually been issued, before to send goods or give a paid service.

Credit card companies tend to lead full scale investigations when their cards are misused, and will make every effort to bust fraudsters. Also avoid so called hacked, cracked, or fake credit card number lists.

Carding is a very risky business, and there's not such a thing as free money.

You'd rather get a good job and apply for a real credit card.

Further security measures for offline purchases are chip and signature (used to be swipe and signature in the past) which requires the user to sign a receipt after buying good or services with his card, or chip and pin, when the user have to enter a code (generally a 4 digits number) in the numeric pad of a device to pay with the card. Contactless cards don't require signature or pin for small amounts (generally up to about 25 USD or EUR).


Use the App Store Without a Credit Card

Credit card with no creditSigning up to use the App Store requires a credit card, right? Wrong. We showed you how to use iTunes without a credit card, and it turns out you can do the same thing with the iOS and Mac App Store too.

A credit card-free account is a perfect solution for setting up an iPhone, iPad, iPod, or Mac for a kid or for use in a public space, when you want to provide access to the free downloads and updates in the App Stores without the ability to make purchases through it. Even without a credit card attached to the Apple ID, you can add gift certificates and redeem codes through this account, making for an easy budgeting system should you wish to provide limited access to App Store purchases down the road.

How to Setup and Use iOS & Mac App Store With No Credit Card

Note: If you are having problems with the method described below, open a link to a free app available on the App Store first. That will allow the “none” payment option to be available.

  • Open the iOS App Store or Mac App Store and click on “Account” from the right-hand side
  • If currently logged into an Apple account, click on “Sign Out” otherwise click the “Create Apple ID” button (alternatively, you can sign up on the web directly from Apple)
  • Agree to the Terms and Conditions and fill out the Apple ID creation page, set this up for a new email address than your primary app store account
  • At the “Provide a Payment Method” screen, select “None” as the payment option
  • Optionally, add a gift certificate to pad the account with an app purchase budget
  • Click “Create Apple ID” and verify the email address you provided earlier, your credit card free Mac App Store login is now active

Now log into the App Store with the newly created Apple ID and the user will be able to download any free apps or download updates to existing apps.

The credit card free account can also redeem promo codes and add gift cards to their account should they need to make purchases.

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You’ll still need to login (or use Touch ID) as usual when downloading things, but there will no longer be a credit card tied to the account which limits the account to free downloads, or to whatever credit is applied to the account. This is a great solution for setting up secondary devices, devices for kids, or even for yourself if you just want to avoid spending too much on apps and games.


9 Best 0% APR Credit Card Offers – August 2017

Thursday, August 3, 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

Credit card with no credit

Nick Clements has worked in consumer banking for nearly 15 years and is the co-founder of MagnifyMoney.

There are a lot of 0% APR credit card deals in your mailbox and online, but most of them slap you with a 3 to 4% fee just to make a transfer, and that can seriously eat into your savings.

At MagnifyMoney we like to find deals no one else is showing, and we’ve searched hundreds of balance transfer credit card offers to find the banks and credit unions that ANYONE CAN JOIN which offer great 0% interest credit card deals AND no balance transfer fees. We’ve hand-picked them here.

If one 0% APR credit card doesn’t give you a big enough credit line you can try another bank or credit union for the rest of your debt. With several no fee options it’s not hard to avoid transfer fees even if you have a large balance to deal with.

1. Chase Slate ® – 0% Introductory APR for 15 months, $0 Introductory Balance Transfer FEE

Credit card with no creditThis deal is easy to find – Chase is one of the biggest banks and makes this credit card deal well known. Save with a $0 introductory balance transfer fee and get 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee. Plus, receive your Monthly FICO® Score for free.

You can get this offer if you complete the balance transfer within 60 days of opening the account. So it’s worth a shot to see how big of a credit line you get. If it’s not enough, move on to the other options below.

on Chase’s secure website

2. Barclaycard Ring™ MasterCard® – 0% Introductory APR for 15 months, $0 Introductory Balance Transfer FEE

Credit card with no creditThis card is available if you have excellent credit. Be aware that you have 45 days to complete this transfer after opening the account.

You can also nominate and vote on charity partners to donate card profits each year and there are no foreign transaction fees if you use the card abroad.

on Barclaycard’s secure website

Tip: The remaining no fee cards on this list are deals for 12 months or less. You might be better off paying a standard 3% balance transfer fee for a longer deal, like 0% for 18 months from the Discover It, one of the better deals with a balance transfer fee of 3%. If you’re trying to transfer from Chase, consider a deal from Bank of America with $0 transfer terms.

3. Alliant Credit Union Credit Cards – 0% APR for 12 months, NO FEE

Alliant is an easy credit union to work with because you don’t have to be a Credit card with no creditmember to apply and find out if you qualify for the 0% APR deal.

Just choose ‘not a member’ when you apply and if you are approved you’ll then be able to become a member of the credit union to finish opening your account.

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Anyone can become a member of Alliant by making a $10 donation to Foster Care to Success.

If your credit isn’t great, you might not get a 0% rate – rates for transfers are as high as 5.99%, so make sure you double check the rate you receive before opening the account, and they might ask for additional documents like your pay stubs to verify the information on your application.

on Alliant CU’s secure website

4. Edward Jones World MasterCard – 0% APR for 12 months, NO FEE

Credit card with no creditYou’ll need to go to an Edward Jones branch to open up an account first if you want this deal. Edward Jones is an investment advisory company, so they’ll want to have a conversation about your retirement needs.

But you don’t need to have money in stocks to be a customer of Edward Jones and try to get this card. Just beware that you only have 60 days to complete your transfer to lock in the 0% rate. This deal expires 11/30/2017.

5. First Tech Choice Rewards – 0% APR for 12 months, NO FEE

Credit card with no creditAnyone can join First Tech Federal Credit Union by becoming a member of the Financial Fitness Association for $8, or the Computer History Museum for $15. You can apply for the card without joining first. This introductory 0% for 12 months on balance transfers with no fee deal is for the First Tech Choice Rewards World MasterCard, and you also get 10,000 points after you spend $2,000 on the card in your first 3 months. The points don’t expire as long as you have the card, and 6,000 points is enough for $50 cash back, while 11,000 points is enough for $100 cash back, which can help you pay down your card.

6. La Capitol Federal Credit Union – 0% APR for 12 months, NO FEE

Credit card with no creditAnyone can join La Capitol Federal Credit Union by becoming a member of the Louisiana Association for Personal Financial Achievement, which costs $20. Just indicate that’s how you want to be eligible when you apply for the card – no need to join before you apply. And La Capitol accepts members from all across the country, so you don’t have to live in Louisiana to take advantage of this deal on the Prime Plus card.

7. Navy Federal Platinum – 0% APR for 12 months, NO FEE

Credit card with no creditNavy Federal is the largest credit union in the country, and from time to time it offers a deal like this. It probably won’t last long, so if you’re interested get on it quickly.

Unfortunately if you don’t have a military affiliation in your family you won’t be able to join Navy Federal to take advantage of this. There used to be a way to join via the Navy League of San Diego, but that’s no longer an option. You’ll need to have a family member (grandparents, parents, spouses, siblings, grandchildren, children and household members) who is with or has served with the Armed Forces, DoD, Coast Guard or National Guard to be eligible to join.

8. Purdue Federal Credit Union – 0% APR for 12 months, NO FEE

Credit card with no creditThis deal is only for their Visa Signature card – other cards have a higher intro rate. The Purdue Federal Credit Union doesn’t have open membership, but one way to be eligible for credit union membership is to join the Purdue University Alumni Association as a Friend of the University.

Anyone can join the association, but it costs $50. The minimum credit line on the Visa Signature card offering 0% is $5,000, so if approved the $50 would be like a transfer fee of 1% or less. The good news is you can apply and get a decision before you become a member of the Alumni Association.

9. Logix Credit Union Credit Card – 0% APR for 12 months , NO FEE

If you live in AZ, CA, DC, MA, MD, ME, NH, NV, or VA you can join Logix Credit Union and apply for this deal. Some applicants have reported credit lines of $15,000 or more for balance transfers, so if you have excellent credit, good income, but a large amount to pay off (like a home equity line), this could be a good option.

10. First Tennessee Bank Credit Card – 0% APR for 12 months, NO FEE

If you want to apply online for this deal, you’ll need to live in a state where Credit card with no creditFirst Tennessee has a branch though. Those states are: Tennessee, Florida, Georgia, Mississippi, North Carolina, and South Carolina.

You need to have an existing First Tennessee account to apply online, but if you don’t have one, you can print out an application and mail it into their office to get a decision. You’ll find a link to the paper application when the online form asks you whether you have an account or not.

11. Kinecta MyPower MasterCard – 0% APR for 6 months, NO FEE

Credit card with no creditAnyone can join Kinecta credit union by becoming a member of the Consumers Cooperative Society of Santa Monica for $10. This card is special because it has no fees of any kind. No late, cash advance, or foreign transaction fees. There’s also no penalty APR either, but if you make a late payment you lose the introductory rate.

12. Money One Credit Union – 0% APR for 6 months, NO FEE

Credit card with no creditAnyone can join Money One Federal by making a $20 donation to Gifts of Easter Seals. And you can apply without being a member. You’ll see a drop down option during the application process that lets you select Gifts of Easter Seals as the way you plan to become a member of the credit union. Credit lines for the Platinum card are as high as $25,000.

13. Andigo Credit Union – 0% APR for 6 months, NO FEE

Credit card with no creditYou’ll have a choice to apply for the Andigo Visa Platinum or Platinum Rewards. The Platinum Cash Back card doesn’t have this deal. The Platinum without rewards has a lower ongoing APR, starting as low as 10.15%, compared to 12.15% for the Platinum Rewards card, so if you’re not sure you’ll pay it all off in 6 months the Platinum without rewards is a better bet.

Anyone can join Andigo by making a donation to Connect Vets for $15, and you can submit an application for the card without being a member yet.

14. Aspire Credit Union Credit Card – 0% APR for 6 months, NO FEE

You don’t have to be a member to apply and get a decision from Aspire. Once you Credit card with no creditdo, Aspire is easy to join – just check that you want to join the American Consumer Council (free) while filling out your membership application online.

Make sure you apply for the regular ‘Platinum’ card, and not the ‘Platinum Rewards’ card, which doesn’t offer the introductory deal. Aspire says people with fair credit can apply for its card.

on Aspire Credit Union’s secure website

15. Evansville Teachers Credit Union – 0% APR for 6 months, NO FEE

Credit card with no creditYou don’t need to be a teacher to join this credit union. Just make a $5 donation to Mater Dei Friends & Alumni Association. The Prime Plus has an ongoing rate as low as 7.25% variable, so you can enjoy a low rate even after the intro deal ends.

16. Elements Financial Credit Card – 0% APR for 6 months, NO FEE

Credit card with no creditTo become a member and apply, you’ll just need to join TruDirection, a financial literacy organization. It costs just $5 and you can join as part of the application process.

on ELFCU’s secure website

17. Justice Federal Credit Union – 0% APR for 6 months, NO FEE

Credit card with no creditIf you’re not a Department of Justice, Homeland Security, or U.S. court employee (or a few others), you need to join a law enforcement organization to be a member of Justice Federal. One of the eligible associations for membership is the National Native American Law Enforcement Association. It costs $15 to join.

You can apply as a non-member online to get a decision before joining. And Justice is unique in that its Student credit card is also eligible for the 0% no fee deal, so if your credit history is limited and you’re trying to deal with a balance on your very first card, this could be an option.

18. Xcel Platinum Visa – 0% APR for 6 months, NO FEE

Credit card with no creditAnyone can join Xcel by becoming a member of the American Consumer Council, and you can apply for the card as a non-member of the credit union, but not everyone who is approved for the card will get the low intro rate. Xcel advises you contact them to get as sense of whether your income, credit history, and employment history will qualify for the intro rate.

Are these the best deals for you?

If you can pay off your debt within the 0% period, then yes, a no fee 0% balance transfer credit card is your absolute best bet. And if you can’t, you can hope that other 0% deals will be around to switch again.

But if you’re unsure, you might want to consider…

  • A deal that has a longer period before the rate goes up. In that case, a balance transfer fee could be worth it to lock in a 0% rate for longer.
  • Or, a card with a rate a little above 0% that could lock you into a low rate even longer.

The good news is we can figure it out for you.

Our handy, free balance transfer tool lets you input how much debt you have, and how much of a monthly payment you can afford. It will run the numbers to show you which offers will save you the most for the longest period of time.

The savings from just one balance transfer can be substantial.

Let’s say you have $5,000 in credit card debt, you’re paying 18% in interest, and can afford to pay $200 a month on it. Here’s what you can save with a 0% deal:

  • 18%: It will take 32 months to pay off, with $1,312 in interest paid.
  • 0% for 12 months: You’ll pay it off in 28 months, with just $502 in interest, saving you $810 in cash. That even assumes your rate goes back up to 18% after 12 months !

But your rate doesn’t have to go up after 12 months. If you pay everything on time and maintain good credit, there’s a great chance you’ll be able to shop around and find another bank willing to offer you 0% interest again, letting you pay it off even faster.

Before you do any balance transfer though, make sure you follow these 6 golden rules of balance transfer success:

  • Never use the card for spending. You are only ready to do a balance transfer once you’ve gotten your budget in order and are no longer spending more than you earn. This card should never be used for new purchases, as it’s possible you’ll get charged a higher rate on those purchases.
  • Have a plan for the end of the promotional period. Make sure you set a reminder on your phone calendar about a month or so before your promotional period ends so you can shop around for a low rate from another bank.
  • Don’t try to transfer debt between two cards of the same bank. It won’t work. Balance transfer deals are meant to ‘steal’ your balance from a competing bank, not lower your rate from the same bank. So if you have a Chase Freedom with a high rate, don’t apply for another Chase card like a Chase Slate and expect you can transfer the balance. Apply for one from another bank.
  • Get that transfer done within 60 days. Otherwise your promotional deal may expire unused.
  • Never use a card at an ATM. You should never use the card for spending, and getting cash is incredibly expensive. Just don’t do it with this or any credit card.
  • Always pay on time. If you pay more than 30 days late your credit will be hurt, your rate may go up, and you may find it harder to find good deals in the future. Only do balance transfers if you’re ready to pay at least the minimum due on time, every time.

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Nick Clements is a writer at MagnifyMoney. You can email Nick at [email protected]

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Advertiser Disclosure: MagnifyMoney is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site. This compensation from our advertising partners may impact how and where products appear on the site (including for example, the order in which they appear). To provide more complete comparisons, the site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.

Review: Alliant Credit Union Visa Platinum Card Balance Transfer

Wednesday, June 14, 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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If you have credit card debt, you are probably paying a high (double-digit) interest rate. One of the best ways to get out of debt faster is to use a 0% balance transfer offer. At MagnifyMoney, our favorite balance transfers have no balance transfer fee. Alliant Credit Union — a credit union that anyone can join — is offering a no-fee 0% balance transfer for 12 months. Although there are longer 0% balance transfers on the market, this is a solid no-fee option that can help you save money and become debt-free faster.

One added perk: Once you become a member of the credit union to take advantage of the balance transfer offer, you will also be able to take advantage of Alliant’s other competitive products. They offer a savings account that pays 1.05% APY. They offer 2.5% cash back on a new credit card. And their mortgage and auto loan rates are some of the lowest in the country. Alliant, one of our favorite credit unions in the country, provides the value you expect from a credit union with the user interface and digital tools that you would expect from a bank.

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on Alliant CU’s secure website

Visa® Platinum Card from Alliant CU

In this article, we will explore:

The Alliant Visa Platinum Card is a very simple, straightforward credit card. There is no annual fee, and there are no rewards. You will probably be given a 0% intro APR on purchases and balance transfers for the first 12 months that you have the card (more on that later). Even better — there is no fee for the balance transfer. After 12 months, the APR will range from 10.24% to 22.24%, depending upon your credit score.

Unfortunately, there is one part of this card that is a little complicated — and could lead to disappointment. You are not guaranteed the 0% interest rate for the 12 months. Depending upon your credit score, the interest rate during the 12-month promotional period could be as high as 5.99%. While a 5.99% rate (especially for someone with a less than perfect credit score) could be a good deal — it is certainly not the 0% intro APR being advertised.

In order to get the credit card, you will need to become a member of the credit union. There are a number of ways that you can become a member. Some of the ways are free (for example, you live in a community in Illinois that is covered). But for most people, the easiest way to join is to make a $10 donation to Foster Care to Success. This is an organization that serves foster teens across the U.S. that are “ageing out” of the system. Once you make that contribution, you will be eligible to join the credit union and get the credit card (along with other credit union products). The application process is easy — you just need to select “not a member” at the beginning of the process, and it will walk you through the membership process as part of your credit card application.

The credit card does offer some standard credit card perks, like $0 fraud liability and rental car insurance. However, the real value is the low interest rate that can help you become debt-free fast.

If you want to earn rewards, Alliant does offer another card — the Visa Platinum Rewards Card. This card has the same balance transfer offer (0% for 12 months with no balance transfer fee). But with this card, you also earn rewards. You can earn 2 points for every $1 spent on the card. However, the APRs (after the balance transfer period) will be higher. In general, we advise people to separate their spending from their borrowing. Cards that offer no rewards tend to have lower interest rates, and cards with rewards have higher interest rates — as we see in this case. If you are looking to become debt-free, it is probably better to ignore rewards and get the lowest interest rate possible.

Alliant targets people with good or excellent credit. In general, that means you have a decent chance of being approved if your score is in the mid-600s, but you have a much better chance of being approved if your score is above 700.

In addition, Alliant (like all lenders) will need to be comfortable that you will be able to afford your payments. That means you will need to have a steady source of income. In addition, the lender will likely look at your total debt in relation to your income. If you have too much debt, you will find it more difficult to get approved.

No fee for the balance transfer.

There is nothing better than free. And with no balance transfer fee and no interest for 12 months, that is exactly what you get. Pay down as much of the debt as possible during the promotional period — because every dollar of every payment will go toward principal.

At MagnifyMoney, we like credit unions — in theory. As member-owned organizations, credit unions do not need to worry about shareholders and should be able to offer better value and lower interest rates. Unfortunately, far too many credit unions have websites that look like they were designed in the 1990s. With Alliant, we finally have a credit union that has made the application process easy, and has a great website. Alliant is delivering on the true potential of a credit union.

What We Don’t Like About the Card

It is not the longest balance transfer.

There are a number of longer no-fee balance transfer options on the market. You can get a no-fee balance transfer for as long as 15 months from some of the leading banks in the country.

You are not guaranteed a 0% intro offer — the rate could be higher.

In the fine print, Alliant makes it clear that you might not get a 0% intro rate. The intro rate could be as high as 5.99%, depending upon your credit score. The only silver lining: Alliant is willing to give intro rates to people with less than perfect credit. But we still find it a bit annoying that you could apply for a 0% intro rate and end up with a 5.99% rate instead.

Joining the credit union costs money.

If you can’t find a free way to join the credit union, you will have to make a $10 donation. We certainly like the cause that you would be supporting. However, it is still additional money that you would need to spend in order to get access to the product.

How to Complete a Balance Transfer

Completing the balance transfer is easy. During the application process, you can provide the credit card number of your existing credit cards (where the debt is located now). Alliant will then make a payment to your existing credit card companies.

Alternatively, you can call Alliant once you have the card to complete the balance transfer on the phone.

Just remember these tips:

  • If you start the balance transfer close to the payment date, you might want to make the minimum payment to ensure you don’t get hit with any late charges. Although balance transfers usually process quickly — they can take a couple of weeks. And you would not want to get stuck with a late fee.
  • Get the transfer done as quickly as possible. The 0% is for 12 months from when you open the account — not from when you transfer the debt. The faster your transfer the debt, the more money you can save.

If You Want a Longer Intro Period and No Balance Transfer Fee

With Barclaycard Ring, you can get 0% intro APR for 15 months on a balance transfer and no intro balance transfer fee — so long as you complete the transfer within 45 days of opening the card. Just remember: Barclaycard only accepts people with excellent credit.

Barclaycard is the American credit card division of Barclays Bank. Barclays is a large British bank, and you don’t need a branch near you to get the card.

Who Benefits Most from the Card

If you have credit card debt that you think you can pay off in a year, this is a great option. With no balance transfer fee and 0% interest for one year — you can pay down your debt quickly. If you think it will take longer to pay off your debt, you might want to consider a longer balance transfer from a more traditional bank.

Can anyone join the Alliant Credit Union?

Yes, anyone can join. During the application process, you will be asked if you are already a member of the credit union. Just select “not a member” and you can join during the application process.

What happens if I don’t pay off the balance transfer at the end of the promo period?

Once the introductory period is over, interest will start to accrue at the standard purchase interest rate on a go-forward basis. Interest during the introductory period is waived — so you do not need to worry about a retroactive interest charge.

Can a balance transfer raise my credit score?

In the short term, your credit score will probably take a small hit (5-10 points) because you applied for new credit. However, over time, a balance transfer can increase your credit score with proper practices. This is because while new credit makes up 10% of your credit score, the amount you owe accounts for 30%. By using a balance transfer, you will reduce your interest rate. That should help you get out of debt a lot faster.

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Liz Stapleton is a writer at MagnifyMoney. You can email Liz here


Top Credit Cards for Bad Credit In Canada – Unsecured & Secured Credit Card Options

Credit card with no creditFor people with impaired or no credit history, perhaps there’s no quicker or more effective way of re-establishing their credit than with a credit card. Luckily, even if you’re currently in bankruptcy, consumer proposal or emerging from insolvency, there are a growing number of credit cards for bad credit in Canada.

Canadians can now choose from a host of different types of credit cards to help them establish, re-establish or repair their credit histories and credit scores. Whether you’re looking for an unsecured, guaranteed approval, or secured credit card, there’s an option that’s best for you.

With the credit cards below, you can enjoy all the benefits of having a credit card, even if you have no credit history, or have had credit problems in the past. These credit cards for bad credit will help you rebuild or establish a strong credit rating, while giving you the convenience and security of a credit card – make purchases online or over the phone and book travel reservations easily and securely.

Top Credit Cards For Bad Credit

Top No Annual Fee Secured Credit Card For Bad Credit In Canada:

Click Here To Apply

A no annual fee secured credit card requires a security deposit but does not charge an annual fee. Your credit limit is then set at the amount of the deposit. You can put down as little as $500, or as much as $25,000, depending on the card. If you decide to cancel your secured card, you can just pay off your outstanding balance, and you’ll get your security deposit back. Because the card is secured, almost everybody is approved. The only downside for some, is that it does require a bank account.

Why It’s a Winner: The Home Trust Secured Visa, is a great option for those not approved for an unsecured credit card, looking to re-build or establish credit through a secured credit card but don’t want to pay an annual fee.

While it does require a minimum deposit of $500, you are guaranteed to get approved. Once approved, you can start to use it like any other credit card, and Home Trust will report your payments to both Equifax and TransUnion, helping you re-establish your credit.

It does come with a 19.99% interest rate, (but you shouldn’t be carrying a balance on a secured credit card anyways). Also, if you have any large purchases you need to make on the card, you can deposit as much as $10,000, which should give you all the flexibility to have a large enough credit line for big ticket purchases.

Top Low Interest Secured Credit Card For Bad Credit In Canada:

Click Here To Apply

Even though this is a secured credit card, some people still may carry a balance from time to time, and if you do, a low interest option is critical to keeping down your borrowing costs.

Why It’s a Winner: The People’s Trust secured credit card offers a low interest rate of 12.99% on balances, two percentage lower than the next best secured credit card.

What also makes this card unique among it’s peers, is that you can create a security deposit as low as $500 to as high as $25,000. That’s the highest deposit allowed in Canada, to our knowledge, giving you the baility to create a $25,000 line of credit and all the flexibility to spend on big ticket items to meet your individual needs.

This card is ideal if you have had credit problems and want to rebuild your credit rating, have no credit history and want to establish a good credit rating or are a discharged bankrupt.

Just be careful with the low interest rate. If you intend on carrying a balance, you’re probably better off not getting the card and using the money that you would have used for your deposit to pay for your service – interest free.

You will need a bank account to be able to apply for this secured credit card.

Top Unsecured Credit Card For Bad Credit In Canada:

The Affirm MasterCard ® Credit Card

IMPORTANT NOTICE! Affirm Financial Services has temporarily suspended issuing new credit cards. This is the message showing on their website:

“As we continue to find progressive ways to support the credit needs of Canadians, Affirm Financial Services has temporarily suspended issuing new credit cards, loans and all credit limit increases.

We are working hard to ensure that we bring you the credit products you need as soon as we can. We sincerely apologize for any inconvenience this may cause you.

Existing Affirm Mastercard customers may continue to use the card in accordance with the terms of the cardholder agreement.”

An unsecured credit card for bad credit is a card designed for those with impaired credit. However, because it is unsecured, you won’t have to put any deposit or security against the card, and you’re not required to have a bank account. It’s a great alternative if you’ve been turned down for a credit card by the banks.

The advantages of an unsecured credit card are: 1. You get a true line of credit, without having to give a security deposit. 2. Your credit history gets reported to the credit bureaus. 3. It allows you to build or re-build your credit, even if you had difficulties in the past or present – even consumer proposal or bankruptcy.

Why It’s a Winner: The Affirm MasterCard is our top ranked credit card for bad credit, because it stands alone in Canada as the only unsecured credit card for bad credit with absolutely no security deposit required. It’s a great opportunity for those who have declared bankruptcy or have been or are in consumer proposal, offering unsecured credit lines as high as $3,000.

It comes with an interest rate of 29.99% for homeowners and 34.99% for non-homeowners, comparable to a store credit card, and much lower than a pay day loan. But remember, you shouldn’t be carrying a balance anyways. The idea here is for you to use good credit habits and pay down your credit card bill every month, not just the minimum payment, on time – use automatic payments if you can’t trust yourself. Pay down your balance every month and the interest rate is irrelevant.

It does come with an annual fee of $84 per year, charged at $7 per month. Reasonable for the risk the bank is taking, and when you consider many secured credit cards also come with an annual fee. Once you’ve re-established your credit, you can apply for a no fee credit card, and avoid the annual fee altogether.

Affirm reports to both credit bureaus, Equifax and TransUnion, with every payment. Not all lenders do this. As a result, the Affirm MasterCard will help you build a positive track record of payment performance, and improve your credit history and score as quickly as possible.

READ THIS TO GET APPROVED: To help you get approved for this card, if you’ve declared bankruptcy or been in consumer proposal you should have a FICO greater than 500. If not, your FICO should be greater than 600. Your annual income should be at least $10,000. You should not have a payday loan inquiry. Nor should you have a major derogatory like a delinquency, or judgement in the last 6 months.