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TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Credit Cards for Poor Credit Scores

Overspending, a week economy and a startling number of bankruptcies have many consumers licking their wounds. Starting over financially is no walk in the park but is a necessity to get back on your financial feet. The game plan now is to show creditors that you can be responsible in a number of ways but how should you get started?

Obtain a Credit Card

This may be easier said than done. Many lenders will reject applications for credit from those will poor credit. But that doesn’t mean you’re out of options:

  • Prepaid Cards are one option for those unable to qualify for a credit card. Essentially they work independently from your credit score and do not impact you positively or negatively on your credit history. The basis of a prepaid credit card is that, for a fee, you may “load” the card in advance via a cash payment and then are able to use it as needed. Again, prepaid card companies will not report your responsible spending to reporting agencies but will help you learn to stay within your budget and get you into the habit of only spending what you have available.
  • Secured Credit Cards are similar to a prepaid card but do work in conjunction with your credit score. Typically a customer is able to obtain a secure credit card via a cash deposit. After several months of making monthly payments and staying within the credit limit, a secured credit card company will often issue a line of credit that is more similar to an unsecured credit card.

Don’t Over Apply

Simply enough, if two or three credit companies have rejected your credit card application don’t continue with more requests until your credit history improves. Each time a credit check occurs you potentially impact your credit score. If you can’t get a credit card today but need access to a Visa or MasterCard, start with a prepaid card where credit score is a nonissue. This will get your through the rough period and help create responsible spending habits.

Establish a Payment History

Once you’re able to gain access to even a very small line of credit treat it with the upmost importance. Demonstrate that you can make monthly payments on time each month and spend only within your credit limit. This practice done consistently will eventually earn you a larger line of credit at cheaper interest rates. Payment history is one of the top contributing factors to your credit score and is a large factor is gaining the approval of future lenders.

Unfortunately you can’t wave a wand to magically place an unsecured credit card into your pocket. But there are options out there for those with damaged credit. If you’re having trouble obtaining a credit card look for prepaid and secured options until your payment history improves.

How to get a credit card with bad credit

Figuring out how to get a credit card with bad credit takes a little more thought than opening a card when you have good or excellent credit.

Published:  Mon, 19 Aug 2019 08:06:00 GMT



4 Solutions To Improve Your Bad Credit

... a bank that will approve you for a credit card while you rebuild your credit, consider getting an unsecured card for bad credit. As you rebuild, you can start to make significant process ...

Published:  Wed, 21 Aug 2019 17:08:00 GMT



Bad Credit Doesn't Have to Keep You From Earning Travel Rewards

However, this doesn't influence our evaluations. Our opinions are our own. There are a lot of great travel rewards credit cards out there, but you generally need excellent credit to be eligible for ...

Published:  Thu, 22 Aug 2019 10:01:00 GMT



How Many Credit Cards Is Too Many?

Too many people get excited about rewards and overdo it." With an average APR of 17.5 percent, credit cards are a very bad short-term loan, Johnson notes. She also cautions people to keep an eye on ...

Published:  Tue, 20 Aug 2019 16:28:00 GMT



Credit Issues: The Consequences of Having Bad or No Credit History

Even getting a bank account or credit card can be a problem. A lot of people don't know they have bad credit until they apply for credit and get a denial. Each year consumers can request a free credit ...

Published:  Mon, 19 Aug 2019 10:18:00 GMT



Apple Card review: A credit card that will lock you to iPhone forever

Beautiful and practical credit card app interface "¢ 3 percent cash back on purchases from Apple "¢ Gorgeous titanium Apple Card "¢ No annual fees The Bad Other credit cards have better rewards ...

Published:  Tue, 20 Aug 2019 06:06:00 GMT



Apple Card for iPhone: Available now, sign-up, credit rewards

Taking on its own credit card, rather than piggybacking on your bank card ... details for security fraud by either stealing a glance or stealing the entire card. Is it bad that the physical Apple Card ...

Published:  Tue, 20 Aug 2019 10:12:00 GMT



How Does Your Credit Score Affect Your Credit Card Limit?

When you have a bad credit score you are not stuck there forever; it's not impossible to fix. It does mean, however, that most types of credit, including a credit card, will be difficult to obtain ...

Published:  Mon, 19 Aug 2019 06:57:00 GMT



Better Business Bureau: Protecting college students against bad credit cards

College students are often the target of credit cards with high interest rates. Bobby Hansen of the Better Business Bureau shares tips for college students to make the right credit car choice. College ...

Published:  Wed, 21 Aug 2019 10:51:00 GMT



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