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Unsecured Credit Cards for Poor Credit
24 Jun 2018

Taking the Plunge with Unsecured Credit Cards for Poor Credit

It can be exciting to realize that you are ready to start using credit again after a credit issue. Once your finances improve, you may be able to handle a small credit card payment. It can be difficult, however, to convince some creditors of your new found responsibility. This is when you need to apply for unsecured credit cards for poor credit. Bonsai Finance can help you find a few that fit your individual situation. We know how important it is to get your credit back on track. Cards that aim to help you redeem your reputation may come with some specific limitation. These are minimal when you take into consideration how much they can help. Jump back into the credit game with an unsecured card.

Get Back on Track

When your credit is in repair, a credit card is a good building tool. Credit cards, at this stage, are not for large purchases. When you get your new card, it is important to know how to use it. In order for your credit to benefit, you must commit to paying regularly. Experts suggest that you keep your usage below 30 percent when it comes close to reporting dates. Many people make the mistake of not using their cards enough, however. In order to have revolving credit reported to the credit bureaus, you must use the card. Set up one small bill to be paid with the card each month, or use it solely for gas and groceries. Pay the bill well ahead of time. By acting responsibly, your credit may be back on track before you know it.

Securing Approval for Unsecured Credit Cards for Poor Credit

By the time you decide to apply for a credit card, you have probably started to work on other aspects of your credit. This is great news when it comes to approval rates. Every bit of effort helps to get you closer to opening a credit line. It is important to address items in collections, pay down your debt, and keep current on any open accounts. When these steps are taken, your score steadily rises. Consistency is key when your credit score is on the line. It can also help to open a secured card to practice for an unsecured one. When you are ready to take the plunge, be sure to consult Bonsai Finance. We can match you up with the most compatible creditors.

Benefits and Attributes

The benefits of an unsecured card are many. Your first card sets the stage for others to follow. Once you handle one responsibly, other cards are easier to obtain. Your credit score makes a sizeable leap when you begin to pay on a credit card. Cards for poor credit are set up to keep you in good standing. The higher interest rates motivate most people to stay on track with payments. The initial credit line may also be rather low. Most start out around $300. This keeps you from getting into excessive debt. Regular credit increases act as a reward for on-time payments over several months. The initial card is the starting point for positive credit change.

Unsecured credit cards for poor credit allow you more freedom while rebuilding your credit. Once you are steadily working on your credit, this may be an option. Low limits help you stay within your budget. Regular reporting alerts the credit bureaus of your success. Apply today after consulting Bonsai Finance.