Maybe you’ve had a credit card in the past, and due to inexperience or harsh financial times, you ended up hurting your credit score with it rather than helping it. Or, maybe you had other financial trouble in the past that made it impossible for you to pay other bills on time and hurt your credit rating.
Does that mean you can’t get a good credit card today? Not at all. There are many good credit cards for poor credit applicants out there. You just have to know how to find them.
Good Credit Cards For Poor Credit
Credit card companies know that nearly a third of all US adults have below average credit or not significant credit history at all.
While some banks might be stricter on approving those without good to sterling credit, there are hundreds of credit cards for poor credit that almost anyone can get approved for.
Most people think their credit is worse than it really is. They don’t realize how good of a card they can really get if they search for it systematically. Bonsai Finance helps you do that by empowering you with high-tech credit card search engines that find your preferred offers in only one or two seconds!
Secured Versus Unsecured Credit Cards
Those with below average credit will first need to ask themselves if they would prefer a secured or an unsecured credit card.
Now, an unsecured card is obviously better in general in that you don’t have to put down a security deposit to get approved for it. But secured cards may sometimes have lower APRs, higher credit lines, or other benefits that an otherwise identical card to the same applicant might not have.
If you don’t mind to have a few hundred dollars tied up as a deposit, a secured card is good in that it helps you rebuild credit and ultimately “graduate” to a secured card.
But if your credit score is “poor but not dismal,” or if you simply hate the idea of a secured card or can’t come up with the cash for the deposit, you can probably find an unsecured card you can get approved for.
There are unsecured cards for poor credit that have reasonable interest rates and fees, sizable credit lines, and even cash back perks. Bonsai can help you find the unsecured card offers that you will qualify for and that offer the best overall collection of benefits!
Can A Credit Card Improve My Credit Score?
Making timely monthly payments on a credit card is the fastest, easiest way to improve your credit score. The more payments you make, the faster you can expect your score to rise.
Some credit card companies reward you step by step as you use your card wisely. And simultaneously, they report your responsible use to the credit agencies.
Your card company should report your on-time payments to at least one major credit bureau at least once a month. Some companies report to all three, which helps improve damaged credit even faster. (Bonsai can help you identify which card issuers report to more credit bureaus and more often!)
Why Choose Bonsai Finance?
Bonsai Finance exists to fill a gap in the market. Our vision is to provide a free service that matches people to their ideal credit card offers without forcing them to spend a lot of time or effort on the research.
We make it easy. We can find credit cards that even those with poor credit will get approved for. We can find card companies that won’t run a credit check on you, which would risk further hurting your credit score.
We can match you to the best credit cards for poor credit in only minutes!