Cloud Technology Systems, Inc. Removes All Unsecured Credit Cards For Bad Credit From Their Website

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Cloud Technology Systems, Inc. sites the sale of HSBC Holdings PLc U.S. Credit Card Division to Capital One Financial Corp. as the Reason for a Decline in Unsecured Credit Cards for Bad Credit in the Marketplace.

When Cloud Technology Systems Inc. started their site in early 2012, many consumers that had bad credit due to circumstances that resulted from the downturn in the economy had a place to go to check out unsecured credit cards for people that have bad credit. Many of those that had bad credit were looking for credit cards that were unsecured so they would not be forced to apply for the alternative which is a secured credit card. The advantage was that many people that had bad credit could apply and be approved for an unsecured credit card on Cloud Technology Systems, Inc. website.

Even people that seemingly had horrible credit were able to start rebuilding their credit score due to the cards that were available on Cloud Technology Systems, Inc. website http://www.CreditCardsForBadCreditNotBadPeople.com. This point is illustrated in this Youtube video titled “Credit Cards For Bad Credit, How I was approved for several credit cards with bad credit and BK” a man named Joe speaks about overcoming his personal bankruptcy, auto repossessions and home foreclosure by taking advantage of the opportunity to rebuild his credit with credit cards for people with bad credit. You can view the video here http://www.youtube.com/watch?v=OY2j8CR5Kvo Joe speaks of how Orchard bank was one of the unsecured credit cards that he applied and was approved for. The video makes it seem that it was not overly difficult to apply and be approved for these credit cards even though the applicant has bad credit.

The truth is that it was easier to get an unsecured credit card for bad credit in early 2012 due to the easy process that HSBC had for applying for the Orchard Bank Card. Then things were shook up when HSBC Holdings PLc decided to sell its U.S. credit card division to Capital One Financial Corp. for a premium of $2.5 Billion. HSBC’s motivation for the sale of the U.S. division was in an effort to lean down their holdings so they could focus more on faster growing markets. The effect this transaction had on those that apply for credit cards for bad credit has yet to be calculated although it is evident that the days of applying and being easily approved for these types of credit cards are over for now.

Although it may be more difficult to get unsecured credit and secured credit may be unpopular Cloud Technology Systems, Inc. has a resource to compare credit cards and is available on the Kindle reader and found at http://www.amazon.com/dp/B0071CGVZ8

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