How to Get a Credit Card With Bad Credit – Secured Or Unsecured, the Choice is Completely Up to You!

This article is for those of you who are going through some hard times and need to know how to get a credit card with bad credit. No doubt, your credit score isn’t exactly great and you have been turned down numerous times for loans, credit cards, etc.

Before you even start think about obtaining other forms of finance, please give some consideration to improving your credit score. So yes there are ways and means of getting a credit card with bad credit, but just make sure you don’t dig yourself a bigger hole!

One option you may look at when you have bad credit but need a credit card is to get a secure card. This type of financing works exactly the same as any standard credit card, but you will charged a deposit as well as monthly interest. Depending on which company you go to and how bad your situation is, the deposit may range from $50 – $300. By using your card regularly, but also ensuring that you make your payments on time and in full, you will start repairing your credit score.

As soon as your credit rating has improved enough you should immediately replace your borrowing with an unsecured card. You should always try and keep within the card limits, in actual fact, try not to spend more than half. The less credit you have used the better your rating will be.

Another option would be to approach one of the new wave of bad credit lenders. Since the country’s economy has been in decline, these new source of lenders have been springing up everywhere. It is difficult to get a credit card with bad credit through conventional methods. These new lenders can actually cover most other borrowing needs too. Loans, Mortgages, Homeowner Loans, etc.

You can expect to be charged a higher APR than a standard card, but your interest charges should still be reasonable. You should always read the exact terms and conditions of any offer. There are still many unscrupulous lenders out there who can make your financial situation much worse when you have bad credit and need a credit card!