Bad Credit Credit Cards

About Credit

The state of your credit is very important within our society. You need good credit to qualify for loans, credit cards, low insurance rates, and in some cases, employment and shelter. If you have poor credit, it can be very difficult to obtain the things you need.

Poor credit can result from a bankruptcy, uneducated use of credit, or tough financial times. Although it doesn't take much time to do damage to your credit score, it can take a long time to repair.

If you are looking for ways to improve your credit standing, one of the best things you can do is establish a new credit account. By establishing a new account and using it responsibly, you can rebuild your credit and boost your credit score.

It may be difficult for you to get approved for preferred credit or platinum cards, but it should not be a problem to get a secured credit account or one of the many bad credit credit cards that are available on the market.

Popular Bad Credit Credit Cards

When looking for bad credit credit cards, there are some very specific features that you will want the card to have:

• High Limits – The higher your card limits are the better it will look for you. When you have a high card limit and a low balance, it can improve your credit score and give the appearance that you know how to use your credit wisely.

• Low APR – It may be difficult to find a credit card with a 0% APR when you have bad credit, but you should try to look for a card that has the lowest APR possible. The lower your interest rate is, the more manageable your payments will be.

• Regular Reporting Schedules – Since the goal of getting a credit card is to better your credit, you will want to make sure you choose a card company that makes regular reports to all of the major credit bureaus. This will ensure that every good payment you make is attributed to your report.

There are many different credit card companies who offer bad credit credit cards. Most of these companies provide excellent customer service and are available to answer your questions as you work through the stages of improving your credit history. Be sure to research these companies here at LoveToKnow Credit Cards along with a web search. You may find valuable information from consumers about their less than positive experiences with some of these companies.

Some of the most popular cards on the market for people who have poor credit include:

First PREMIER Bank Gold MasterCard®

• Decision almost instantly
• Monthly reports to 4 major credit bureaus
• 9.9% APR on purchases
• 19.9% APR on cash advance

Total VISA® Card

• Decision online immediately
• 19.92% APR
• Report monthly to all major credit bureaus

Capital One Platinum Card

• Prompt decisions
• Report monthly to major credit bureaus
• Variable APR on balance transfers and purchases
• Credit limit up to $3,000, minimum $300

Using Bad Credit Credit Cards Responsibly

Once you are approved for a credit card, it is important that you use that card responsibly. Here are some tips that will help you use bad credit credit cards to your advantage:

• Keep the balances low. A good rule of thumb is to not exceed 25 percent of your card limit.
• Charge on the card regularly.
• Pay balances off immediately. The less interest you have to pay on your charges the better.
• Always make your credit card payments on time. If you make even one late payment, you could lower your credit score by as much as 10 to 20 points.
• Keep the card account open. Even if you end up getting another card, you will want to keep this account open. The longer your credit history is with a particular company the better it looks for you.

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