Credit Cards for Bad Credit

Compare Credit Cards for People With Bad Credit

If you have a bad credit history and you are wondering if you can apply for a credit card or not, then don’t worry. The impossible dream of getting a credit card with bad credit is now possible. It is a little challenging as you may not get the best credit card deals but the good news is that you can apply for it and get a credit card!

How To Apply And Get Approved?

To ensure that you get a credit card despite your bad credit history, you have to think smart.  Your goal should not just be to get a credit card, in fact it should be to rebuild and reestablish your bad credit history. With a good credit history you can get unsecured credit cards and  enjoy exclusive credit card deals like travel rewards.

To ensure that your credit card application gets approved, do the following:

Get and Maintain a Job:

Before any of the credit card issuer approves your application, you would have to disclose your salary and employment information. Your salary slip indicates your ability to pay back your credit card bill. Therefore, before you apply for a credit card, you should get a job. If you don’t have a job, it will show your lack of ability to pay back the dues and this would further harm your credit rating.

If you already have a job, then that’s great. Try to maintain it because credit card issuers like to see money coming consistently in your account.

Accounts Turned Over to Collection Agencies:

You should make sure that you don’t have any small debt accounts that other companies have turned over to collection agencies.

This is important, as it would disqualify your credit card application immediately. So you should pay the small bills from your salary like hospital debts or grocery bills to ensure the approval of your application.

Apply for a Secured Credit Card:

For an unsecured credit card, a good credit rating is essential. However, since you have a bad credit history, it’s best if you apply for a secured credit card. Once you rebuild your credit history, you would be able to able for unsecured credit card.

For an unsecured credit card you have to pledge collateral. This helps the issuer of the credit card to recover the money in case you default.

How to Apply for a Secured Credit Card with Bad Credit?

Although you may not receive credit card offers for bad credit, but through good research on credit card companies and their offering for bad credit customers, you can definitely find a deal that suits your needs.

Once you get a secured credit card with bad credit, make sure your make your credit card payments on time. The best way to pay on time and every time is to keep a track record of your expenses. The less expenses, the less you have to pay back.