Cards for Those Who Have Poor Credit
Cards for Those Who Have Poor Credit
Don’t you just hate it when these big-name credit card companies keep turning down your application for a credit card simply because of some financial mistakes which adversely affected your credit rating?
If only you could speak to the account officer handling new applications and politely inform him that you have long since settled those debts and is now working to rebrand your life it would be so much easier, right? Well, you don’t have to go to such extremes and you don’t have to hope for a miracle because yes, you still can have a credit card, however, you can only get it if you use it responsibly and use it in a way to rebuild your credit!
For Your FYI
Several credit card companies offer people who have the misfortune of having a less than stellar credit rating a chance to own their own bit of plastic money and the rise of these non-mainstream credit card companies may have been caused by the demand created by those who did not pass the stringent requirements of the big-name players. So, in all essence, the non-main stream companies want to help but beware there is still a high price to pay.
The credit cards provided by these companies still function like a regular credit card providing determined credit limits, increased limits, decreased limits and some may even have a rewards program. Cardholders can still enjoy almost the same benefits as those who hold well-known credit cards but with higher interest rates. The good thing about the non-mainstream lenders/ cards is that they still report to the three major credit rating bureaus and if you pay promptly and maintain your good standing these cards will in time help improve your credit rating.
Cards That Help Rebuild Your Credit
- Capital One Secured Mastercard– Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit.
- Discover it Secured– Establish your credit line by providing a refundable security deposit of at least $200 after being approved. Bank information must be provided when submitting your deposit.
- Open Sky Secured Visa Credit Card– The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
- First Progress Platinum Prestige MasterCard Secured Credit Card– Credit Line Secured by Your Fully-Refundable Deposit of $200 — $2,000 Submitted with Application.
- Fingerhut Credit Account– Easy application! Get a credit decision in seconds.
- Total Visa Card– Checking Account Required
- First Access Visa Card– If approved, pay a Program Fee and you can access the $300 credit limit (subject to available credit)
- Credit One Bank Unsecured Visa for Rebuilding Credit-Find out if you Pre-Qualify without harming your credit score.
Please note that these companies will / may have different requirements but what matters is that they are willing to take a chance on you.
If you believe that these card companies only offer one kind of card for all possible clients, then you are mistaken because they do carry different kinds of credit cards – even for those who have been classified with poor credit ratings. There are standard cards for regular clients, silver, gold, and even platinum cards, which not only offer higher credit limits but also provide more security privileges and benefits for customers who need more to sustain their lifestyle. If you’re concerned about international acceptance, you don’t have to worry because some of these credit cards are recognized by Mastercard.
If you feel that you really need and deserve a credit card but keep hitting a brick wall when you approach the more established and more popular credit card companies, why not consider using one of these non-mainstream credit cards – at least for the meantime. They may not have the same appeal as the big – name brands but as long as you get similar service, would the name even matter? Who knows, maybe after you’ve gotten used to carrying these cards, you may not want to give these up for one of the high-profile credit cards you originally wanted.