What are the best credit cards for poor credit applicants? That’s a natural question to ask if your credit score is anything less than perfect – and especially if it is below average.
Don’t assume you have to settle for the kind of credit card you don’t really need (a bad one) just because your credit isn’t good. It’s just not true. Maybe decades ago you couldn’t get a good credit card with damaged credit, but today, those times are long gone.
Can I Get A Good Credit Card Without A Good Credit History?
The short answer is “yes.” Many modern credit card companies do not insist on excellent (or even good) credit history in their applicants. It’s true you might get a lower APR, lower fees, a higher credit limit, and other benefits based on having good credit, but you can almost always get approved for some card or another.
The differences in what kind of an overall “deal” you’ll be offered can be great among credit card issuers. Plug in the exact same credit score, and the card features may be substantially better if you know where to look.
Also worth noting is the fact that those who lack any significant credit history are often in the same boat with those who have poor credit. But again, you will find that good card offers exist for this category of applicants as well.
What Features Should I Focus On In A Bad Credit Credit Card?
Every good card feature is desirable, of course, but when it comes to bad credit credit cards, there are particular features you should be focusing on when making your selection.
Here are the top 5 features you should insist on for your credit card when you have bad credit:
- No credit check needed to apply and get approved. This is important because a credit check can further damage already damaged credit scores.
- No annual fee, or if you must have one, as low an annual fee as possible.
- If you can get it, an unsecured card. Secured cards have a place, but most people prefer unsecured cards if the other terms are comparable.
- A relatively higher credit limit. You want to be able to make large purchases when you need to, and you don’t want to have to make a payment every other day.
- A lower APR. You can expect the interest rate to be a little higher due to a bad credit history, but you can still find the lowerst APR available.
There are other features too that you should consider. If a card has perks like cash back rewards, frequent flier miles, a points system, no foreign transaction fee, a lower ATM cash withdrawal rate, or a longer grace period between payments (to avoid paying any interest – that’s great. But those tend to be secondary consideration compared to the “big five” factors listed above.
How Can I Find The Best Credit Cards For Poor Credit?
When you have poor credit, you may feel uncertain about how to even begin the search for the right credit card. A quick Google search may bring up dozens of possible offers, and yet, leave you in bewilderment as to which one is really superior.
Bonsai Finance makes searching for the best credit cards for poor credit simple and safe. With our fast-working search tools, you can narrow the options based on one feature or a set of features. The end result is threefold: you find your credit card faster, have no doubt bad credit is accepted, and have greater confidence it’s the best offer available to you.
At Bonsai Finance, we have deep experience in helping people find the best credit cards for poor credit. We have been successfully matching card and cardholder for years! Here are some other articles you might find helpful: