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Upgrade Visa® Cash Rewards ![](https://media.pgelab.com/fl_lossy/bp/includes/templates/bp/images/product-icon.svg)
APR 8.99% - 29.99% / Annual Fee: $0
- Rewards: 1.50% Cashback on Payments¹
- Welcome Offer: None
- Balance Transfer Intro APR: None
- Recommended Credit Score: Fair
Are Bad Credit Cards Good?
Credit cards for people with bad credit can help re-build your poor credit history by making regular payments towards the card account over a period of time. This shows lenders that you are now willing to repay borrowed funds which improves your borrowing power. A good way to ensure that potential lenders will approve your credit card application is to make a payment of $1,000 towards the repayments for a year. If you can save up this amount it shows lenders that you are serious about rebuilding your credit history and in turn will be approved for a credit card when applying.
Some credit cards offer unsecured, instant decisions regardless of your previous history, get instant eligibility within 60 seconds of completing your online application regardless of what you've done before. They only require proof of employment and address so no one will judge you based on past indiscretions.
You'll even need to make a minimum monthly repayment and there is no annual fee. Are you thinking of taking out a loan but your poor credit rating means that not many lenders will approve your application? This could be due to missed payments to utility companies, mobile phone providers, or even loans from friends which you've failed to pay back on time.
Bad Credit Loans
Is a bad credit personal loan better than a secured loan, unsecured loan, or an overdraft? This site explains in simple terms how these types of loans work along with the advantages and disadvantages of each to help you make an informed choice in applying for one. Just because you've had problems with your poor credit rating in the past doesn't mean that you never get another chance when applying for any kind of loan in the future.
Interest rates can be high when compared with other lenders but this is the cost of borrowing money even when you have absolutely nothing to offer as security; which is quite often the case when people choose this type of loan.
Conclusion
Credit cards for people with bad credit can be a great way to rebuild your credit history and improve your borrowing power. By making regular payments towards the card account, you are showing lenders that you are now willing to repay borrowed funds. Some credit cards offer unsecured, instant decisions regardless of your previous history - so it's worth applying even if you've had problems in the past. Just make sure you're aware of the interest rates before signing up!