original written articles, subprimeAugust 14, 2007 8:50 pm
Recently, starting in 2007, many new subprime credit cards have begun to emerge in the market. As more vendors have emerged the market has become more competitive and issuers have been forced to make the cards more attractive to consumers. Interest rates on subprime cards now start at 9.9% but in some cases still range up to 24% APR.
Subprime credit cards however can help a consumer improve poor credit scores. Most subprime cards report to major credit reporting agencies such as TransUnion and Equifax. Consumers that pay their bills on time should see positive reporting to the agencies within 90 days.
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