Welcome to Credit Cards for People With Bad Credit. We are a free consumer resource for those in need of credit cards but have bad credit. There are so many predatory lenders out there that it is hard to discern what credit card you need to apply for and which ones will help you build/rebuild your credit. So this site has been created to help you figure things out.
Before Applying
Before applying for any of the credit cards for people with bad credit, you need to make sure that you are "ready" to apply. By ready, I mean that you have your ducks in a row. So here is what you should have before applying. The steps below will help you become more financially secure and ready for a credit card.
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A Checking Account - Even if you have bad credit, there are second chance checking accounts and bad credit checking options available for you.
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A Savings Account - Open a savings account and start stashing some money. I recommend a high interest savings account from HSBC. There are no fees or minimum requirements and you can get started for only $1. Get more info and apply here. It only takes about 10 minutes and you have started the road to a more secure financial future. Start saving now.
The steps above are the basic steps you need to do before trying to get a credit card and most importantly will help you build a solid financial future.
Now That You Are Ready
Now that you are ready to apply for one of the many credit cards available for people with bad credit, you should be aware of the scams and predatory lending geared towards people with bad credit. So check out the recommendations below.
Avoid Unsecured Credit Cards for People With Bad Credit!
Okay, I know this is not what you wanted to hear, but the fees attached to these cards are outrageous and will end up causing you more grief than they are worth. For a complete run down of these cards and there fees, click here. Trust me, avoid the unsecured credit cards being promoted online, you will regret it in the long run and the only reason they are being promoted is for the high commission they pay. I can not recommend any card from a predatory lender no matter how much they pay me.
Go Secured Instead.
Get a secured credit card instead. Look, no matter what you do or say, you cant avoid high interest rates when you have bad credit. So you should minimize the interest and fees you pay. That is why I only recommend secured credit cards to people with bad credit. If you not sure what a secured card is, it is simply a credit card that is secured by a savings account and your credit limit will match the amount of your savings account. Check out the benefits below.
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You have a credit card and are building your credit.
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You credit card is secured so that if anything bad happens, you have the resource to pay it off
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Your savings account is earning interest
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You are not paying the high fees normally associated with the unsecured credit cards for people with bad credit.
Okay, so you see the benefits now you want to know what cards to apply for. Here is my recommendation and you can see a complete run down of the secured credit cards for people with bad credit available here.
Applied Bank® Secured
Visa® Card - This is the only secured credit card I
recommend. The reason is because of their stability and ratings in top
financial publications such as BankRate.com and The Street.
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Credit
Limit - $200 - $500 (Secured by savings account) |
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