Do you have bad credit? Are you looking to establish credit history? Are you looking to improve your credit score but you have been denied for credit in the past? There are banks that offer credit cards to people with poor credit.
Unsecured Credit Cards
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Pre-Paid Credit Card |
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You can apply for a First Premier Mastercard, Centennial Mastercard, or the Aventium Mastercard. You can also apply for a Credit One Platinum Visa card on their website. Usually they will offer a minimum of $300 to you, not including the fees. Your credit limit can be higher, so you will have to apply to see how much you qualify for. You do not usually have to pay up front, but they will deduct the fees from your credit limit to start. You will be required to pay the fees later. They normally charge an annual fee, program fee, and/or an application fee, an account set-up fee, and they might charge a small monthly fee. Each credit card is different, so you have to read the terms of the agreement before you apply. Many times the fees add up to be $100 or more.
These
credit cards come with a hefty price tag, but they will provide you with cash if you have an emergency. They will help you
establish credit, and improve your
credit score. You can improve your
credit score by making your payments on time each month. Usually if you make your payments on time, they will increase your credit limit automatically. With some
credit cards, it only takes a few months of making payments on time, for your credit limit to be increased. If you are thinking about applying for an auto loan, a home loan, or a personal loan in the future, you should pay your bills on time, and keep your balances low. You have a better chance of qualifying for a loan, if your credit card balances are low.
Prepaid Credit Cards Prepaid credit cards can also be used to improve your
credit rating. I like to avoid using traditional
credit cards, because I like to pay in cash for my purchases. I like to shop online, and you usually need a credit card to do that, so I use prepaid cards alot. They work just like a
credit card. They have a visa or mastercard logo, and you add money to the card when you like. Usually you pay an activation fee, and a small fee each time you put money on the card. They also charge a small monthly maintenance fee. The fees are low, and some of the credit card companies will report to all the credit reporting agencies, so it can help you improve your credit score. You will not receive a bill each month for your purchases, and you will not pay interest, so you might want to consider applying for a prepaid credit card to improve your credit.