Even if your credit isn't perfect, you can still get a credit card. The opposite is actually true. Credit card companies now give out cards for just about anything you could want. This includes cards that are made just for people with bad credit. With the help of a credit card for people with bad credit, you can get back on your feet quickly. Read on to find out more about credit cards for people with bad credit.
Prepaid Debit Cards
A prepaid debit card is a good alternative to a traditional credit card if you have trouble getting approved for one. With this choice, you put money into your account first. Then you can use your card to buy things. To help you stay on track, the most you can borrow from your line of credit is the amount you have put down. You can rebuild your credit by putting money into your account and making purchases. Check out the All-Access Visa Prepaid Card and the Wired Plastic Prepaid Visa Card for two great prepaid options.
Guaranteed credit cards
A secured credit card is something else that people with bad credit can do. To get this kind of card, you have to start a savings account. The line of credit is backed by the account. The amount of credit you can get is based on how much you put down. Most of the time, this is between 50 and 100 percent. If you always pay off your balance, your line of credit will grow over time. Most secured credit cards have an annual fee and a high rate of interest.
First Premier and Orchard
You might want to keep a balance on your card from time to time. If this is the case, there are many credit card offers for people with bad credit. Cards from First Premier Bank are made for people with bad credit. Credit cards from First Premier Bank have low interest rates and give you a chance to improve your credit score. One of their cards can be given to you right away. Start by looking into the First Premier Bank Gold MasterCard/Visa.
Orchard Bank also works with people who have bad credit. The interest rate on purchases is low when you use the Orchard Bank Platinum MasterCard. It also sends reports to credit bureaus on a regular basis. This lets you use your card, pay off any balances, and get your creditors' attention.
There are some fees that come with both the First Premier and the Orchard Bank cards. First Premier Bank has fees of $29 and $95 for opening an account, as well as a monthly participation fee and an annual fee. Orchard Bank charges a high fee every year.
These costs may seem like a lot. But you should keep in mind that these companies give cards to people with bad credit. Due to the risks, most credit card offers for people with bad credit come with extra fees. But these cards are made to help you build up your credit. Once you've shown that you know how to use these cards wisely, you can apply for other offers.
Don't let poor credit get you down. There are many credit card offers for people with bad credit. Choose the best option for you and then fill out an online application. You can improve your credit score if you plan it out well. You will soon be back on good terms with lenders. This can help you get more money in the future.
