With the credit crunch and the overall state of the global economy changing daily, I expect a lot of people are put off even attempting to take out a credit card. Whether this is due to not wanting to get into more debt personally or the fear of being refused, we’re yet to find out. If you are in need of some additional credit, especially over the holiday season, it’d be worth you looking for some low rate, low limit, low interest credit cards. There are many out there that practically anyone can get approved for, even in the midst of the global economic crisis we are all facing.
A lot of the major card issuers offer instant approval credit cards at great rates for first time users and some even offer no interest on purchases for up to a year. As I say above, 9/10 you will be approved for these cards, even in the current economic climate and with an application either rejected or approved within 30 seconds or less, you don’t have much to lose.
A lot of existing credit card users have also seen their credit limits significantly increase during the crisis, so assuming that the banks and lenders do not have money to give you is wrong. You have more chance of them loaning you the money you need than 90% of the people out there who have already huge balances.