How to Find a Credit Card for People With Bad Credit

Bad credit makes it difficult to get a credit card.

Many things that we take for granted, like renting a car or booking a hotel room, can be very difficult to do without a credit card. While those with good credit generally have little trouble getting the credit card of their choice, consumers with poor credit histories often have a much more difficult time. Fortunately, there are some strategies consumers with bad credit can use to get the credit cards they need.

Things You'll Need

• Bank account
• Credit card application

Instructions

1. Approach the branch manager at the bank where you hold your checking or savings account. Ask about the credit cards the bank has available. It is often easier to get a credit card from a financial institution with whom you have an existing relationship.

2. Search for secured credit cards. These credit cards require you to deposit money in a bank account, which is then linked to the credit card. The credit limit on the card is equal to the amount you have on deposit with the bank. This prevents you from spending beyond your means while protecting the bank if you fail to pay the balance you owe.

3. Obtain several applications for several different secured credit cards. Some secured credit cards come with high fees, so shop around carefully.

4. Complete the application for the secured credit card. Be sure to fill out the application completely and submit any required application fee. Also include a check for the deposit to the linked bank account.

5. Wait for your new credit card to be approved, then use it wisely. Paying your bill on time month after month will help you repair your credit and qualify for a non-secured credit card down the road.

References

• Citi Cards: Secured Credit Cards
• CNN: Secured Credit Cards