How to Get a Credit Card With a Bad Credit Rating

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Getting a credit card with a bad credit rating is still possible by obtaining a prepaid card, which can be reloaded with cash and used like a regular credit card. Build up a better line of credit using a prepaid credit card with information from a registered financial consultant in this free video on personal finance.

Part of the Video Series: Personal Financial Advice
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Video Transcript

This is financial adviser, Patrick Munro talking about how to get a credit card with a bad credit card rating. If an individual has a bad credit score and is looking to get a credit card, there are sub-prime credit card companies that will offer you a card, if your credit is not that bad but still bad. But if it's very bad, an individual can use a company that will take a deposit from you, a cash deposit of say a thousand dollars. They'll issue you a card. The card has the Visa logo on it, and it looks like a real credit card when you're using it at marketplace. When you end up going down in the balance, you can recharge your card again with cash. This is an opportunity for you to have your credit monitored over a period of time. And companies will see that you are being dutiful in recharging your card, which is similar to paying a bill, in fact. If this occurs on a regular basis, the company will then step up and put their own money into a credit line for you. And now you have an established real credit card. This is Patrick Munro talking about how to get a credit card with a bad credit rating.

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