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How to Get a Credit Card With Bad Credit
5 May 2019

How to Get a Credit Card With Bad Credit

Credit cards are used by millions of Americans on any given day. As a form of payment that makes life a little easier for some, credit cards can be useful to have in your wallet. But even the best credit card can easily become a bad credit card without the right care towards spending and payments. What’s worse is that once a credit score goes downhill, it’s difficult to bring it back up. Bad credit is like a pain in the neck that won’t go away without special exercise and treatments. This leads many people to wonder how to get a credit card with bad credit. It’s tough, but it can be done. If this sounds like something you’re interested in, here’s what you need to do.

How to Get a Credit Card with Bad Credit

Working with bad credit can be a hassle to say the least. Lenders aren’t likely to extend an online loan if they see a poor credit score. But the good news is that the damage can be undone, albeit in a longer time. Figuring out how to get a credit card with bad credit takes some thinking, but a few steps are necessary to put yourself on the right track.

Understand Your Credit Score

Firstly, it’s important to check your credit score, which you can do for free. Many companies don’t offer cards to customers who have a poor or very poor credit score, so be prepared. Knowing that you have bad credit can’t help you until you know exactly how bad it is. Learning this information can guide your search for a credit card. This way, you know which credit card companies to look into when trying to find a suitable card. You don’t have to waste your time trying to get approved for a credit card that you know you won’t get.

Realistic Expectations

It’s also important to understand that the credit card you might get won’t be like the flashy, popular ones with a rewards system and airline points program. You need a credit card to build good credit and get on track, but don’t worry when you can’t find one with a popular company. All that matters is that you find a company that takes your credit score. You’re only going to be using this card for some time before your credit score improves enough to be approved for the card of your choice. To get a credit card with bad credit, you first need to stick your foot in the door for any credit card at all.

Secured Credit Cards

To help guide your search for a credit card, here’s a tip. Look into secured credit cards before trying other types. Credit cards for bad credit often require a deposit as a form of insurance for the company. This is what’s known as a secured credit card. Even though this is an extra fee initially, with good credit card use, you can earn this deposit back and upgrade your account to an unsecured credit card. When you get a chance to upgrade, you can increase your credit card limit and improve your interest rates if you want.

Unsecured cards are also an option when looking for a card. However, these cards generally have very high fees, and they eventually add up to be more than the deposit fee on a secured credit card. So, there are pros and cons to each type of card, much like there are for regular credit cards. If you’re still wondering how to get a credit card with bad credit, you can speak to your banker about possible card companies that may fit the bill for your credit score. Here are some other articles you might find helpful:

The best credit cards for bad credit with no deposit
Is a FingerHut credit card a good option for bad credit?
How department store credit cards can help bad credit
The ten worst credit card mistakes a person can make