POOR CREDIT RATING CREDIT CARDS INFORMATION

For general information on Poor Credit Rating Credit Cards, visit our Info Library section on Poor Credit Rating Credit Cards.

        

Poor Credit Rating Credit Cards

Poor credit rating credit cards are widely available in America, offering a chance to people who normally have difficulty in getting a card. Find out more about poor credit rating credit cards below for other card types, go to the main menu of the Info Library.

What are Poor Credit Rating Credit Cards?

Are you struggling with a low credit history and are having problems getting credit? Poor credit rating credit cards could help even if your credit score is in the 'bad' or 'no' category.

Poor credit rating credit cards are in most aspects the same as regular credit cards, yet they are specially designed for people with a poor or bad credit score. The main features are just like a regular card:

  • Worldwide acceptance
  • Use to withdraw cash
  • Pay online, in stores
  • Credit limit
  • APR (annual percentage rate) applied to card balance

The only difference is the fact that poor credit rating credit cards do not require a perfect credit history. So, even if you have:

  • No credit history
  • Poor / bad credit score
  • Rejections from other card providers

...you will still be able to get a poor credit rating credit card.

Are there any Reward Programs?

Generally no, but there are exceptions. Poor credit rating credit cards are usually pretty 'basic', so they will not carry extra features like reward programs or bonus schemes. Have a look at the options when you search and compare poor credit rating credit cards.

Is there an Annual Fee?

Generally, yes. Most credit cards have an annual fee and these are no exception. The amount you can expect to pay ranges widely, from $30 to $80 each year.

What are the Benefits?

Poor credit rating credit cards are great for people who usually get turned down on credit card applications, for having a low / poor / no credit history. Many poor credit rating credit cards carry great features which allow the card holder to rebuild or start their credit history.

Note that you will need to perform well on the card and pay off the minimum on your balance each month many poor credit rating credit cards will send out regular reports on your payment history to the three main credit bureaus. This is beneficial if you have been up to date and on time, not so great if you have fallen behind on payments.

What are the Disadvantages?

Poor credit rating credit cards are great news for you if you have difficulty getting credit, yet while you are likely to get accepted for this card you will need to manage it well in order to receive the benefits. To enable an improved credit history, you will need to pay off the minimum (or more than the minimum) on your balance each month and on time. If you do not, you could risk damaging your credit profile.

There are other factors to consider, including the annual fee, the interest rate which could be higher than on a normal card a lower credit limit and other fees. Compare the options before you make your application!

        


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