If you have had bad credit in the past, it might seem hard to get a credit card that isnt more expensive than its worth. If you have had bad credit in the past or not, it is important that you avoid sub-prime borrower cards. These cards are very expensive, and if this is your only option you should not get a credit card. If you want some advice on how to avoid sub-prime borrower cards then this guide can help you.
What is sub-prime lending?
Sub-prime lender is not a new type of lending, but it is growing in popularity. This type of lending is offered to people who have poor credit or who dont meet the requirements of other lenders. Although this might seem like a good thing, often the drawbacks and costs of such lending far outweigh the benefits.
What are the costs?
Although it might seem strange that a lender would want to take a risk giving a credit card to someone is a risk in terms of being able to pay the money back, they can actually make a lot of money from it. By offering poor credit consumers credit cards that they could not get anywhere else, but with massively high interest payments and fees, they can make money even if some people are...
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