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Credit cards for unemployed people

Comparing income-independent credit card providers and their conditions

Usually loans and credit cards with loans are connected with checking one's reliability. The applicant has to show his financial institute an income statement as well as another evidence of assets. In case of unemployment a credit card supply usually is refused. But if someone already has a credit card and loses his job later no bank will withdraw this credit card when the owner uses it according to agreement. But that isn't the case when someone applies for a credit card for the first time. People who are out of work often don't get credit cards because financial institutes aren't willing to offer loans when their customers don't have a regular income.

Talking in terms of prepaid credit cards things are completely different. These prepaid credit cards only work when their holders have placed a deposit in advance. That means when people use their prepaid credit cards for paying then the money is withdrawn from an account on which it was deposited first.
For most payments credit cards are preferred. Sometimes they even are the only accepted means of payment e.g. concerning online shopping and most car rentals only rent their cars to people paying with credit card. For most travels abroad paying with credit card is standard today. Therefore it is very useful to have a credit card as additional instrument of payment to cash.

Prepaid credit cards are provided completely independent from the applicant's credit-worthiness. No credit check is made and no income statement has to be made. Regular credit cards sometimes are offered at no charge, this is different with prepaid credit cards. Normally an annual fee has to be paid and this isn't very likely to change yet.
Credit cards at no charge are profitable for their providers in terms of interest rates which have to be paid by the credit card holders when they use their credit card account for part paying their credit. These interest rates are much more expensive than those of a usual installment credit. Furthermore a prepaid credit card doesn't provide its holder with additional returns on interest.

Each consumer - being interested in a credit card - should know about the interesting options a credit card offers for those having a regular income. Nobody must use his credit card all the time but it's quite worthwhile doing so when you have found a provider who offers credit cards at no charge and on no special terms. An online comparison of different credit card providers and their conditions is worthwhile in every case.