The following Credit Cards are for individuals with Bad Credit or simply put, less than perfect credit. Simply qualifying for a credit card will not help you build, re-build or re-establish your credit. The key to improving your credit rating and subsequent credit history is making on-time payments with all of your creditors and maintaining your account balances well below the credit limits. This is the key to changing your financial future, and fixing your credit history. The following credit cards will help you in your desire for better credit, and help you improve your credit rating.
You don't have to fear credit cards, or credit card companies. There are companies in the market place that really do want to help you with your credit problems. But you must get involved in your day to day credit decisions. Both Capital One and People's Trusts have designed credit cards to help you get your credit history back on track. Both are designed to help you with your credit, both have approval criteria that you need to meet. So review each card and determine which card is right for your unique situatiuon. Remember you have the power to fix your credit. Start today, we can help.....
Featured Bad Credit Credit Cards
Company
Card Logo
Card Name
Purchase Rate
Balance Transfer Rate
Typical APR (variable)
Annual Fee
Card Benefits
Apply
Capital One Low Rate Guaranteed Secured MasterCard
Low rate of 14.9% on purchases and balance transfers
Low rate of 14.9% on purchases and balance transfers
14.9%
$79
The Capital One Low Rate Guaranteed MasterCard offers a low rate on purchases and balance transfers, May help you strengthen your credit history, $0 fraud liability for unauthorized use, Security funds not required, unless we contact you .
The Capital One Cash Gold MasterCard® offers 1% cash rewards on all of your purchases. Earn rewards while you build your credit history the smart way, Guaranteed access to credit, Valuable Gold MasterCard benefits including $0 Fraud Liability.
Refused credit? The Credit Card Centre could be the solution to help you get credit
Many people find us after they have been refused credit by other companies. Perhaps you need credit, but because you have a poor credit history or no credit history, or are on a low income, credit cards might seem out of your reach.
You might have heard the term 'sub prime credit' - industry-speak for someone with no credit history or poor credit history; who finds it difficult to obtain credit from mainstream lenders. We see things differently and treat each case on its own merit
How to Improve Your Credit Rating
Before you set out to improve your credit rating, it's important to find out why it is low. If you don't know, ask to see your credit reference file to find out. (See what can you do about a bad credit score to find out how to do this.) Assuming you know why you have a poor credit score, there are a number of simple steps you can take to help improve your credit rating and build credit history:
Make sure you are on the electoral roll. It only takes a few minutes to register with your local council and it will help to improve your credit score over time
Pay bills on time. This will begin to improve your credit history and will again give you an improved credit rating over time
Be careful about the number of times you apply for credit. Every application is logged on your file and too many applications may not help your credit rating
When applying for credit never give false details, always tell the truth. If there are inconsistencies with past credit applications or details that are held on checking systems differ from your application it will effect your credit score
Start to build a credit history over time and when you check your credit reference file you should find an improved credit score
How can you improve credit ratings if you can't get credit?
Specialist credit cards like our Vanquis Visa Card are specially designed for people with bad credit. Even if you have been turned down by other companies, you may be accepted by us. As long as you manage the card properly, stay within your credit limits and pay promptly, this is a good way to build credit history and to improve your credit rating.
Managing Your Finances to Repair Adverse Credit Score
It’s easy to find yourself with adverse credit, but what can you do about it? Applying for an adverse credit card is one way to build your credit rating (see how to improve your credit rating page) but you should also be thinking about addressing how you got into this situation in the first place.
Tips on how to manage your finances more effectively
For some people, adverse credit starts as a result of a one-off event, like divorce or a health problem which puts strain on personal finances, but for many others, adverse credit is a result of mis-managing personal finances.
Adverse credit is not as uncommon as you may think. The Citizen’s Advice Bureaus deal with over 5,000 people with debt problems everyday; average household debt (excluding mortgages) in the UK is over £8,000 and rising*. Rather than ignoring your situation and living with impaired credit and the complications it can bring, why not take a few simple steps to manage your finances better:
Set yourself sensible financial goals. Where do you want to be in 1 month, 3 months, 1 year and 3 years?
Write down your outgoings - the money you need to get by each month. Include all the essentials like mortgage/rent, council tax and utility bills, food shopping, travel to work.
Look at the money you have coming in; if it’s more than your outgoings, take the remainder and give yourself a budget to include on clothes, going out, paying off credit debts or building savings etc.
If the money coming in is less than your outgoings, think about what you can do to reduce your outgoings
Why not search online price comparison sites for items you’re looking to buy, in order to get the cheapest price
Search out the cheapest gas/electricity/water providers as you could make substantial savings throughout the year
How about turning your heating down a degree or two to reduce your heating bill and at the same time help the environment
Are there any non essential items that you can cut back on i.e. do you really need that extra pair of shoes?!
Or try increasing the money you have coming in;
Maybe a new job
Gain some overtime at work
Can you turn an interest or hobby into an income earner
Could you have a car boot sale and raise money from old knick-knack’s that you no longer need or use
If it all seems too difficult - get advice. Your nearest Citizens Advice Bureau will be happy to talk through your financial situation and advise you what you can do about your debts.
What not to do
Whatever you do, don’t ignore demands for money, credit debts, council tax bills or the like. This is the fastest way to end up in an adverse credit situation, which is often avoidable. If you are having trouble paying debts, always talk to the company or entity involved or get independent advice.
