Credit Cards Available For Those with Bad Credit

April 21, 2009 by  
Filed under Credit Cards

It is not easy to apply for credit when your past history is rather murky, however there are credit cards available for those with bad credit. If you are in such a situation, this may be a good chance for you to start your credit repair, as when you pay your monthly payments on time, this is recorded and shared with the 3 major credit bureaus. Once you are seen to be paying on time, your credit history will be reversed putting you in better stead for the future.

Following is some advice on choosing the most suitable card for you and how you can make it work to your advantage.

There are many available credit cards for people with bad credit with various financial establishments competing for custom so you can afford to be picky. Look around for offers that suit your current situation and compare terms and conditions. Do a thorough research before applying for cards here there and everywhere as this will not look good on your record. It will appear that your are applying for credit that you may not be able to settle.

One particular credit repair card of note is the Orchard Bank card by MasterCard. There are a few variations of the card that you can select to suit you and they are accepted all over the world including online. There is a service with the card where you can arrange to be sent text messages to remind you of a due payment, when and how much. These little things can make all the difference in keeping track of your payments and paying on time, the weeks always pass by faster than you think. The APR is relatively low with this card and balance transfers may be performed.

Another great option for those looking for bad credit repair is the prepaid MasterCard. This card is designed to hep you exercise your budgeting skills with no risk as the available balance on the card is money you actually put into the account. It is like borrowing from yourself and when the funds are depleted, you cannot use the card until you have deposited funds into the account.

You may come across the First Premier Bank Gold MasterCard on your quest for a credit repair service. This card is also available to those with bad credit and comes with a very low APR. One of the unique features of this card making it an attractive offer is the fact that you get a 5% bonus credit on your balance when you pay your monthly instalments on time in the first year of using the card. You can actually make money by managing your account well. Not only do you benefit in the pocket but you will begin to undo your bad credit reputation.