Nowadays, there is a substantial amount of individuals who have bad credit histories – substantial enough that there are banks which fully cater to them and allow them the opportunity to somehow redeem themselves from debt and a bad credit score. So for those of you who have a poor credit history, you would probably be asking: So how do you open adverse credit bank accounts?
Opening bank accounts despite a low credit score is an outstandingly easy process. All you have to do is to find a bank which will accommodate your current situation and your banking needs. There are several banks available in the market which would gladly provide you with what is called a Basic Bank Account.
This so called basic bank account generally provides what a regular bank account would, with the only difference is the limitations it has for bad credit holders. The type of basic bank account an individual is qualified for is determined by the degree of their bad credit.
For individuals with bad credit and discharged bankrupts, a good basic bank account option is the Natwest Step Account. Here, an individual shall be able to avail of full counter service, and he or she has the added benefit of being able to use a Solo card. A Solo card, much like a debit or credit card, shall allow its user to make store and even internet purchases.
Individuals with undischarged bankruptcy, on the other hand, can opt to avail of the Co-Operative Bank Cash Minder Account which allows the holder to take advantage of a Visa Electron card.
Today, it is a lot more easier to get back up on your feet and get rid of all that unwanted debt through the use of a no credit check bank account such as Basic Bank Accounts.