Needing credit cards for bad credit can be a real pain. It can really take a toll on your life and make you feel like you will never rise above it, that will always be a part of your life and gone are the days of loans, credit cards, and other forms of credit. This does not have to be true. Many companies in the world today understand that sometimes things beyond our control happen and we all need a second chance at rebuilding our lives. This is why some companies are now offering credit cards for bad credit.

Credit cards for bad credit are specific to those who have a tarnished credit history for one reason or another. Your credit score might be low because of bad decisions, loss of employment, reduction in wages, injury, or a host of many other things. However, everyone deserves a second change to prove themselves credit worthy once again. This is where credit cards for bad credit come in handy.

With these credit cards, even though you will have to pay an extremely high rate of interest on the card, are perfect for those looking to rebuild their credit and improve their credit ratings. While you will likely not have many of the same benefits as traditional credit cards such as, rewards, long grace periods, or even long introductory periods, you will still have the opportunity get your financial affairs back on the right track.

Credit cards for bad credit can be found on the internet. It is important that you do your homework and find the right credit cards for bad credit that suits your needs and situation. Using the internet for research is a great place to start. Check out the interest rates and benefits before you start applying for any credit cards for bad credit. Ideally, you will want to find a credit card that periodically checks your credit report. This way, if you are improving your credit rating, making your payments on time, and showing credit worthiness, they may consider lowering your interest rates or raising your credit line.

We allow the credit card industry to make fools of us and we do nothing about it. If someone told you that you were being made a fool of, wouldn’t you address the issue? I know I would.

Credit card companies have revenue of $76.03 billion dollars and the majority of this revenue comes from late penalties and over limit and cash advance fees. $29.2 billion came from late penalties, $15.2 billion from over credit limit fees and $3.04 billion from cash advance fees. This amount is 62% of the credit card companies’ revenue and this does not include finance charges. Nice profit!

The above is the reason why credit card companies can afford to mail over 5 billion credit card offers per year. This equals to 6 offers per household per month. Maybe the $2 billion in postage alone is a reason why our government does not look into the credit card industry seriously.

Every bank and retailer wants you to have their credit card. Having their credit card enables them to make huge profits. In 2001 both Sears and Circuit City reported that over half of their corporate profits were from finance related revenue. Do you think this could be the reason why retailers always have an employee at the front door of their store offering you to sign up for their credit card and in return you receive a special gift or extra “so called” discount? Most special gifts and extra discounts end up costing you more than the original purchase due to finance charges.

I may not be able to confront these institutions that are trying to make a fool of me, but I can fight back by believing that “Cash is King” and using cash instead of credit will save me money in the end.

It’s a New Year and personal money management should be on the top of your list for 2006.