How to Get a Credit Card With Poor Credit History?

It’s not the end of the world if your credit score is low, so you can’t apply for the most beneficial credit cards (like the cards presented in this list). This article will help you learn about how to get a credit card with poor credit history, which – despite being difficult – is still possible. Despite having a bad credit score, you still can get a pretty worthwhile credit card, and this article will just prove it to you.

Determine How Bad Your Score Is

You may think that you have a low credit score simply because you were previously refused to be given a loan or a credit card. But the word “low” is not enough – you need to know what your score exactly is. In other words, you need to find out how low is your credit score.

If you don’t know your current credit score, there are a couple of ways to do. First of all, you may have received your credit score by mail or email when you applied for a loan or a credit card last time. If you didn’t receive it then, there are other ways of identifying your credit score.

How to Get a Credit Card With Poor Credit History

In the first place, you may access the FICO website and find out your credit score right there. Also, you can get to know your credit score from any of the three credit bureaus. Additionally,  some banks allow their customers to access their credit score right in their apps or online. So, if you are a customer of such a bank (like Capital One or Discover), you can easily view your current credit score. After all, the websites like Quizzle, CreditSesame or CreditKarma will also provide you with your credit score.

How to Get a Credit Card With Poor Credit History?

Once you have found out how low your credit score is, you can actually start seeking how to get a credit card with poor credit history. Depending on how bad your credit score is, you may, for example, choose one of the credit cards presented in this article. Actually, having a low credit score is not a guarantee that you will have to use a credit card without any benefits.

For instance, you can apply for pretty worthwhile credit cards if you have your credit score in a range between 600 and 700. The above mentioned article contains several credit cards from Discover, which have no annual fee and a pretty good collection of benefits (such as cash back rewards, 0% introductory APR period, welcome bonus, and other features). This just shows that you can easily apply for such a card. If you have a score far lower, you may decide to apply for a City Secured MasterCard, which comes without any features at all.

But there are also other options, which, though, require you to pay an annual fee. For instance, that article features a secured credit card from AeroMexico, which tends to be a complete, worthwhile credit card for travelling. It comes with all bonuses that you may need for travelling: bonus miles for the purchases you make, a welcome bonus, and no foreign transaction fees. Though, there is a downside of this card: as it was mentioned, you will have to pay an annual fee. Yet, you still wonder how to get a credit card with poor credit history?

If you have somehow succeeded to get your credit score below 600, there is a way to get a credit card too. For instance, you can apply for a Capital One Classic Platinum Credit Card, which, reportedly, was given even to the people with a score as low as 587. Obviously, there are downsides of having this card: it comes with an annual fee of $39, the card’s APR is 22.9%, and there are no significant benefits. The important thing is that you are able to obtain a credit card with any credit score.

Things To Consider Before Getting a Credit Card With Poor Credit History

Before you will actually rush for a one of the above mentioned credit cards, you should consider a number of important aspects – they are not less important than the answer to the question on “How to Get a Credit Card With Poor Credit History?” This large section of our article will not just show you how to get a credit card with poor credit history, but will point to a large number of important things you should consider.

Paying a Deposit Is Necessary

Many customers tend to shun secured credit cards, i.e. those cards that require them to pay initial deposits. Such deposits are later used for processing credit card applications and securing them. In a result, that deposit will be used for paying the issuance fee of your card (if there is any) and as your credit limit.

There are several reasons why the customers prefer unsecured credit cards. First of all, they don’t have to pay anything to a financial corporation aforehand. Secondly, secured credit cards are usually associated with low credit limits. However, if you have a low credit score, you will get a card with a low credit limit anyway – even if that card is unsecured! Considering that many secured credit cards can be converted into unsecured ones just after a year of using a card, getting a secured card doesn’t seem that bad at all (Discover frequently offers the card holders of its secured card to update to a better card just 8 months after having used that card!).

how to get a credit card with bad credit score

If the problem is the money you will have to pay as a deposit, you can just save $50 per month. In a result, you will be able to get a secured card just within half a year. Keep in mind that having a secured credit card is better than having a prepaid debit card or no credit card at all. Only by using a credit card reasonably, you will be able to rebuild your credit history and get a solid credit card.

Don’t Apply for the Cards You Can’t Get Now

Indeed, many of the credit cards offered on the market may seem quite lucrative, but applying for them will be just a waste of time, money and patience. So, if you have found a beneficial credit card you may have a wish to apply for, we recommend you to check what is a recommended credit score for it and apply only if you match it. If you haven’t found what is a recommended credit score for that card, then we suggest you to check the website and read reviews about that credit card.

But if you have got to have a low credit score and you are seeking how to get a credit card with poor credit history, it is highly likely that you wouldn’t be eligible to receive a card with generous benefits. Actually, the number and quality of benefits a particular card provides directly corresponds with a required credit score. So, you must keep this in mind.

Your Poor Credit History Is Not Forever

And even though you may currently have a poor credit score and be looking for how to get a credit card with poor credit history, your bad credit score is not going to stay forever. That’s why you should approach this issue as something temporary that will change soon. For instance, you may be offered to update for a better card 8 months after using a secured credit card from Discover It. Many banks offer better cards just one year after using low-end cards.

Thus, as you can observe, there is nothing difficult if you have to use a low-end credit card temporarily. But in order to update for a better credit card, you need to use the existing card wisely: buy only the things you need, don’t carry a balance, always pay on time.

Other Things to Watch Out

When you have got to seek how to get a credit card with poor credit history, there are other things to watch out while looking for credit cards. For instance, we highly recommend you to stay away from subprime credit cards. The reason for that is that they often come with excessively high upfront fees – some of the banks reportedly charged even $80 and $90 fees. It is especially recommended to shun the cards from Credit One and First Premier.

Another thing to consider is the advertising of prepaid debit cards, which are often promoted as a good thing for people with a bad credit score. But the thing is that prepaid debit cards don’t improve your credit score. So there will actually be no meaning in having such a card, as you will not be able to qualify for a better credit card with generous benefits later.