Many people find themselves dealing with bad credit and are concerned about their ability to get credit cards.
You might think that having bad credit means that you’ll never be able to get your hands on a credit card again, but it’s not the case.
There are many great credit cards available to people with bad credit, so you can take advantage of the benefits of owning a credit card without falling into debt again. If you are looking for the best credit cards for people with bad credit, read on to find out which ones will work best for you!
In this article, we’ll help you find the best credit cards for people with bad credit or no credit by looking at different types of cards and what factors determine approval. We’ll even discuss how to improve your score over time so that you can qualify for better rates and perks in the future.
Can I get Approved For A Credit Card With Poor Credit?
Credit card companies will generally approve you for a basic no-frills credit card even if you have bad credit, but it’s likely that you won’t be approved for any of the premium credit cards. The more important question to ask is: do I really need a premium credit card if I have bad credit? Many times premium credit cards come with high annual fees. Even though they’re not very enticing, most entry-level and standard reward/premium cards don’t require good/excellent or excellent/good approval. No-frills rewards or premium cards should still offer protection against fraud, free transactions at gas stations and grocery stores and other features like travel insurance and extended warranties that can come in handy.
Tips to Practicing Responsible Credit Card Use
If you have a poor or fair credit score, don’t sweat it. Credit card companies understand that not everyone has a perfect record when it comes to payments, so they offer some incentives to build your credit history from scratch. So what do you need to know about getting and using a new card? Here are some tips to keep in mind: Don’t just apply for one card: It’s important that you spread out your inquiries on multiple applications; don’t apply for all of them at once. If several inquiries show up on your report at once, it could hurt your chances of approval rather than help them. Instead, wait at least two weeks before applying again; and when you do, apply online or by phone instead of in person.
Responsible credit card use comes down to one thing: Paying your bill in full and on time. That’s it. If you can manage that, you should have no problem qualifying for a new account (even if you have bad credit).
Capital One QuicksilverOne Cash Rewards Credit Card 1
If you want to earn cash back without having to worry about rotating categories or signing up for special rewards programs, check out Capital One QuicksilverOne Cash Rewards Credit Card. You get 1.5% cash back on every purchase, and your rewards don’t expire. There’s no limit to how much cash back you can earn – ever! Plus, if you make your first five payments on time each year, Capital One will give you a $100 bonus.
The BankAmericard Cash Rewards Credit Card 2
This is a simple rewards card that offers cash back rewards on every purchase. For example, if you spend $2,000 in a billing cycle, you get $200 in cash back. These cash-back rewards can be redeemed as statement credits or deposited into your Bank of America checking or savings account.
The Blue Cash Everyday® Card from American Express 3
Earn cash back at supermarkets and on purchases directly from wireless phone providers, cable and satellite TV providers, Internet service providers, and eligible wireless telephone services. Earn cash back at U.S. gas stations too. And, every time you redeem, get a 5% refund on redeemed rewards to put toward your next redemption – up to $250 per calendar year
Discover it® Secured 4
This card from Discover is one of our favorite secured credit cards. With 0% intro APR for 9 months on purchases and balance transfers, it’s easy to see why it’s such a popular option. If you’re looking to get a card and build your credit, look no further than Discover it® Secured.
HSBC Cash Rewards Mastercard® credit card 5
The HSBC Cash Rewards Mastercard® offers cash back on all purchases and has a competitive intro APR of 0% on Purchases and Balance Transfers for 18 months, and then the ongoing APR of 13.24% – 24.24% Variable APR. The current Cash Rewards Bonus offer is $150 cash back after spending $500 in your first 3 months. This card is perfect if you have bad credit or no credit history.
Wells Fargo Cash Wise Visa® Card 6
The Wells Fargo Cash Wise Visa® Card is one of our favorite credit cards, period. The no-fee card offers 2% cash back on all purchases (1% when you buy and 1% as you pay) and a sign-up bonus: a $200 cash rewards bonus after spending $1,000 in purchases within 3 months of account opening. The rewards can be redeemed for travel, gift cards, merchandise, or statements credits.
BankAmericard Better Balance RewardsTM credit card 7
With no annual fee and no foreign transaction fees, you can earn 3 points per dollar spent on gas, 2 points per dollar spent at grocery stores, and 1 point per dollar spent everywhere else. When you sign up, you’ll also get a $150 online cash rewards bonus after spending $500 in your first 90 days.