Credit Cards for People with Poor Credit

If you have poor credit rating, don’t think that you will not be able to get a new credit card. Although

you have fewer options than those with excellent scores, it does not mean that you will not be approved once you submit an application. There are cards that are particularly targeted to consumers with bad credit rating. The choices are not vast, but you are still likely to be able to find just the perfect card for yourself.

At the moment, there are a good number of credit cards for people with poor credit, including the following:

Capital One® Secured MasterCard®

This card has an annual fee. Its annual fee, though, is not as high as those cards preying on people with bad credit. This is a good choice as it can help you get back on track, especially when used properly. Capital One® Secured MasterCard® is accepted in many parts of the world – thanks to its MasterCard network.

Since this is a secured card, you will be required to deposit an amount before you can use it for whatever purpose it may serve you. However, your credit limit will be higher than what you deposited. Another great thing about this card is that once you have established better rating, you can then apply and get approved for an unsecured card from Capital One®.

Orchard Bank Credit Cards

Orchard Bank is a known division of HSBC for many years. Quite recently, Capital One® has purchased all

the cards from Orchard Bank and all those issued by HSBC as well. Nevertheless, as a trusted leader in providing cards for people with bad credit, applying for a plastic from Orchard Bank (or Capital One®) is

definitely a good idea. If you send your application to Orchard Bank online, you will be considered for four cards: one is a secured card while the other three are unsecured. If you don’t qualify for the unsecured cards, you will automatically get the secured card. Hence, you will never go home empty-handed as your application will always get approved.

DCU Visa® Platinum Secured Card

Most people say that you can never go wrong with a card from a credit union. Perhaps they are right

with the DCU Visa® Platinum Secured Card. Issued by the nonprofit organization, Digital Federal Credit Union, you can obtain this card by simply making a small donation.  DCU Visa® Platinum Secured Card is a gem as it does not require you to pay for the annual fee, which is quite common in all other secured cards. The APR for purchases is fairly reasonable as well.

All the cards in this list are known as secured cards. They mostly approve applicants, except for the DCU Visa® Platinum Secured Card, which requires you to be a member of the credit union first. Nevertheless, joining is easier than with other nonprofit organizations.

Once you have your credit card, you should make it a point to always pay on time and to never carry balances. This is the most efficient method towards rebuilding your credit history.