A brainstorm about credit card applications
More consumers are having to turn to credit cards for bad credit, as a result of the recession and more stringent requirements set forth by banks. Those who have to open credit cards for bad credit are faced with a significantly higher rate and set of fees. Consumers frequently find it harder to pay off an outstanding balance and reduce debt, because they are paying so much more in interest in fees. Many financial advisors recommend prepaid cards in lieu of high rate credit cards for bad credit. Someone cannot buy more than he can afford with a card that has a prepaid balance.