Bad Credit Credit Cards

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Bad credit
Bad Credit Credit Cards Bad Credit Credit Cards
Adverse Credit Credit CardsInterest Free PeriodLimitTypeRepair CreditAPRMore Info
Capital One Visa Card
 		56 Days £2,500 Yes 34.9%
The Capital One Group is a top ten credit card issuer in both the UK and United States, with more than $147 billion in managed loans and approximately 50 million customers world-wide, serviced by around 27,000 employees. In 1996 Capital One launched its first overseas operation in the UK where the UK bank currently offers Visa and MasterCard credit cards to UK customers. Will help rebuild your credit rating.
Vanquis Visa Card
 		56 Days £1,000 No 39.9%
Vanquis specialises in understanding an individual's circumstances. They have already helped over 100,000 people with a poor credit rating. They'll consider you if you are new to credit, have had credit problems or CCJs in the past or have a bad credit history.
Provident Visa Card
 		N/A £300 Yes 189.2%
The Provident Visa Card is a debit card so don't worry, you won't go over your limit. You can spend as little or as much of your loan as you want, and when you want. Example loan - loan of £300, paid over 57 weeks. With the weekly repayment set at £9 the total reapayable would be £513. The card is provided in the form of a loan - so you cannot go above your limit. Will also help to rebuild your credit rating.
e-Platinum Plus Green Card
 		N/A £5,000 N/A Yes 0%
The e-Platinum Plus card is a one way ticket to reaching your desired goals. Buy your favourite merchandise for less and do all the shopping you'd love to when using a shopping card that gives a very reasonable amount of credit at ZERO interest rate. Improve credit rating by developing a good payment history. The card issuer reports to all the major credit reference agencies with account payment history so you will notice your credit rating improve within a short time.
  • Get the benefits of PLATINUM
  • Credit line £5,000 (can be increased)
  • 0% APR Fixed Forever!
  • Guaranteed Approval!
  • No Credit Checks
  • £500 cash advances
  • Reporting to major credit bureau.

Bad Credit Credit Cards

If you are having difficulty obtaining a credit card due to a poor credit history, or even very bad credit, there are still a variety of options on offer. Many companies specialise in credit cards for people in this situation.

Although the interest payable on these may be higher than with other credit cards, once you have been successfully accepted for a credit card, it could help you to rebuild your credit rating so that you can obtain credit more easily in the future.

Initially you may be given a low credit limit, but if you consistently make the required repayments on time, your credit limit will gradually be increased.

As well as higher interest credit cards there are a variety of other cards available to people with a bad credit history, as follows:

Secured credit cards

To take out a secured credit card you will need to make a deposit payment. This is to protect the credit card company if you default on your payments. It is important to remember that the deposit payment cannot be used in lieu of a monthly payment, and you will still have to maintain regular monthly payments at the required amount.

  • Positives: the same as for high-interest, low-limit credit cards. Bad credit history can also be dispelled as you can rebuild your credit rating with a real credit card that offers classic credit-card convenience.
  • Negatives: the same as for high-interest, low-limit credit cards, plus the security deposit. You have to remember that the deposit is just a deposit, not an advance payment. If you miss a payment, the consequences are the same as with any other card. In addition, you need to have the money for the security deposit to apply for a secured credit card in the first place.

Credit cards with guarantor

Some companies may ask for a guarantor when you apply for a credit card if you have a poor credit rating or no credit rating, for example, if you haven't previously applied for credit. The guarantor will usually be someone who has a good credit rating. However, two important factors to consider are:

  1. If you default on your credit card payments, the guarantor's credit rating could be affected as well as your own.
  2. The guarantor may be asked to repay the debt if you are unable to meet monthly payments.

Department store credit cards

Department store groups issue this type of card to be used when making purchases at certain specified stores. Interest rates are usually high on store cards, but they can be easier to obtain than lower interest rate credit cards. Stores often give discounts to their cardholders or operate a points system, whereby the cardholder can exchange the points for discounts against future purchases.

Charge cards

With a charge card you have to make payment in full each time you receive an account statement. However, companies offer reward systems with this type of card, such as discounts, cash back schemes, reward points and free services.

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