applying for a credit card with poor credit can be a lifeline for people with poor credit. These cards can help you build or rebuild your credit, pay off debt and earn rewards for good financial behavior.
A great way to find a credit card for poor credit is to use the prequalification pages on most major credit card issuers’ websites. These prequalification pages will show you offers that have a high chance of being approved for you.
What to Look for in a Credit Card
When it comes to finding a credit card for bad credit, you’ll want to look for one that charges reasonable fees. It’s also a good idea to study the menu of fees to see how much you can expect to pay for making certain types of transactions.
The Benefits of Secured Credit Cards for Poor Credit
Balance Transfers and Cash Advances
If you have a low credit score, the most important thing you can do is to start using a credit card responsibly. This means paying off your balance in full every month, and keeping an eye out for credit cards that charge interest on your purchases or have a higher APR than other cards.
Length of Credit History
A long history of using a credit card is beneficial from a scoring perspective, so don’t close old accounts that you don’t use. This could hurt your score, so be sure to keep any card you have open for a year or two.
If you have poor or no credit, the best way to start building your credit is with a credit card specifically designed for you. WalletHub’s editors regularly compare credit card offerings to find the best ones for people with poor or no credit, focusing on factors like approval requirements, credit bureau reporting practices and credit-building tools.