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Monday, March 30, 2009

Poor Credit Score? Find The Best Bad Credit Card

Having a poor credit rating can badly limit your choices of credit cards. Most credit card companies are likely to turn down your applications, making things hard for you at a time when you most need a credit card. luckily though, that’s not the end of it as you have another alternative of bad credit cards. logically, this is a momentary solution until you can get back on your feet. Bad credit cards can also be used to help you recover your credit score, as long as you pay your credit card bills on time, that is. The only drawback to this would evidently be the higher than usual APR interests.
Nevertheless, if you are willing to give collateral to the credit card company, you may qualify for a secured bad credit card with a lower APR. This way, you can still earn interests on your collateral, and at the same time enjoy good rates. The downside is you may be charged other fees such as annual fees or start up fees.
Before you apply for a bad credit card, it is wise to do your homework first. As bad credit cards are usually offered to those with poor credit ratings, the APR would unlikely be low. Thus, comparing the various offers of bad credit cards out there would be a wise move.
One of the main factors of thought includes the upfront fees that credit card companies would charge you. In order to make a sensible evaluation, it’s best that you have a plan to pay off your debt before your interests snowball. Other factors that you can use to help you make a better decision would be to evaluate the reward programs that your bad credit card can offer. If you are entitled for retail discounts at specific retail stores when you charge to your bad credit card, this would be even more enticing.
With all these factors to consider, it is clear that you should look around before you apply for a bad credit card. Compare and contrast the various fees and rates of the candidate companies. Only after careful thought should you take the next move and submit your application.


  1. My poor credit rating was a major issue when applying for a credit card and I got turned down every time. I decided to look at the bad credit cards as I realized that it was the only way I was likely to improve my credit rating. I looked at several companies including Vanquis Bank and eventually managed to find a card that I could afford.

  2. I had the same problem as you April. I defaulted on a credit card about 2 years ago now and its really put a dent into my credit score. It was stupid to default but you learn from your mistakes, I found a handy website and after reading a few of their pages it has made me a lot more cautious and more organised now.

    The trouble I had was I had no real credit history, so with that and the added default it really gave me problems. I managed to get approved for a loan not long ago, the APR is high but the loan amount is low and hopefully this will start to boost my rating up.


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