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It is very frustrating to have a bad credit card history.  You often suffer from a high mortgage, insurance and car loan rates. You won’t even imagine how hard it would be for you to get approved for credit cards.

For those people who have this kind of difficulties, the best things that you could do is to get a credit card designed for people with bad credit and the very important thing is to read the fine print.

There are only a few credit companies that are made for individuals with the history of bad credit cards. They are all saying that they would make everything to help you revive and rebuild your credit. They do this by monthly reporting to the major credit bureaus.   And for you to make many purchases, they all provide you with the Visa or Master card. However they can save you thousands of dollars in mortgage and car loan rates in the future.

This is a very important reminder to read the fine print first for you to understand everything before applying for one of these credit cards. The reason behind this is because they often charge high yearly fees, set-up fees, and even monthly fees. In this article you will be able to have a clearer view about the three major credit cards. Yes we review them all. You will be able to know a few examples of charges current “bad credit” credit cards that are included in the fine print. Then at the end, you are the one who can decide what credit card company is really the most consumer-friendly and can really help you with your concern.

Let us tackle the first credit card.  For an unsecured credit card, this one has a very low interest rate. They will tell you through their first fine print that there is one time set up fee of $29. So far so good, right? But there is actually a next charge of $95! All In all it’s already $124. If you are thinking that the expenses will end there well you are wrong. An annual fee of $48 and for the account maintenance fees, it is $6 per month. That means your new credit card is $244 for the first year and $120 for the following additional year. Well if you will not be accepted in a better unsecured card for bad credit, then maybe you can settle with this one. But I doubt it.

This next credit card for bad credit that I am going to review offers a very high interest rate for an unsecured credit card. The set up fee is $29. Not bad huh? What about the monthly maintenance fee? It’s just $6.50. This brings the cost of this unsecured credit card to $107.  You may think that you already found a good deal. I’m not yet done. The annual fee is $150 every year. O you know what does it mean? The initial cost of the credit card is $257 and the amount that you should pay just to maintain the credit card is $228. Whew…not really good, right?

The final credit card that I’m going to present to you is available as both a secured and unsecured credit card, based on the issuer’s review of your credit history. The fine print of this card says that the set up fee is actually based on your credit. It can be as low as $0 or as high as $49. The interest rate is average or can even be considered as a competitive one. So if your credit is not that bad, then you will not really suffer. Now let’s talk about its annual fee. Maybe you are thinking that the annual fee must be really high. The annual fee for a secured credit card is only $35, and for an unsecured credit card, this fee can be as low as $39 or up to $79. So far, the cost could range from $35 to $128. What about the monthly maintenance fee? Would you believe? It’s $0!  That means the most you could possibly be charged to obtain this credit card is $128, about half of what competing cards are charging.

I already know what is running on your mind. The “bad credit” credit card provides greater value. All positive changes to your credit history and credit score will translate into lower loan rates, lower credit card interest rates, lower insurance rates, and ultimately, thousands of dollars in savings. The path to rebuilding credit has its costs, but in the long term, rebuilding your credit with a “bad credit” credit card is the fastest and most cost-efficient way to correct the often unfortunate circumstances that have damaged your credit in the first place.

Now you know how important it is to read the fine print. Don’t be fooled with those “bad credit” credit cards out there. There are really substantial differences among all of them. Do your homework.