What are Some Good Credit Cards for People with Bad Credit?

Rebuilding your credit can be difficult. But there are some ways you can increase your credit score these days. Credit cards for people with bad credit are one way to accomplish this goal.

Having bad credit can be a huge dilemma. It is difficult to get out of a bad credit slump because it is nearly impossible to find creditors to take another chance on you. As a result, you do not have many opportunities to rebuild your credit. However, there are some credit cards out there for people with bad credit. They have various qualifications and guidelines that you have to follow, but they can be a way to build your credit back up and show you are responsible with your finances. Here are a few popular credit cards for people with bad credit.

The Platinum Zero Secured Visa Credit Card from Applied Bank
This is a relatively new opportunity for people with bad credit. There are no application fees, no introductory rates and the company reports to the three main credit bureaus on a regular basis. This helps you rebuild your credit with each payment you make on time. And since there are fewer fees, you do not have to pay as much to obtain a Platinum Zero Secured Visa Credit Card from Applied Bank like you do with some other companies.

The Current Card by Discover
This unique credit card is designed with teenagers in mind. In essence, it is a debit card that offers parents a method for controlling spending. Parents can set spending limits for their teen each day, week or month depending on their habits and the parent’s discretion. The debit card also allows the parent to restrict usage in certain places, such as hotels, tobacco stores and liquor stores. The Current Card by Discover offers free deposits from other credit cards a bank accounts as well as free direct deposit by either the parent or the teen. There is also fraud protection, free text message and email alerts so parents can stay updated on where the card is being used and there is no minimum balance, credit checks or loading fees.

The First Option Visa Card
This is a REAL Visa credit card and not a debit card. With this card, you can get up to a $5,000 line of secured credit and you can also be approved for it regardless of your income or credit score. Approval is guaranteed and the annual fee is only $59. It’s a great card to help you start rebuilding your credit right away!

The Green Dot Gold Prepaid MasterCard
Prepaid cards are an ideal way to boost your credit history because they prevent you from going over your spending limit. If you activate your Green Dot card online, there is no fee and you do not have to worry about a credit check either. You can pay your bills with it online and do so much more. You can also forget about overdraft and penalties because it won’t let you spend more than what is in the account. You can’t beat that!

These are just a few of the popular credit cards available for people with bad credit. We will list more of these in future blog posts to help you start rebuilding your credit the smart and easy way.

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  • Dave

    February 21, 2010

    Useful info, Thanks

  • Joey Sullivan

    February 21, 2010

    Here’s my take on Prepaid Debit Cards (payroll cards) based on my own experience. I know they are not credit cards - but it does help me out without getting me into trouble!

    I used to work at a large national restaurant chain and our card was pretty bad. But, from what I hear, it was typical because most cards either have a monthly fee or pretty limited as to the free items. I have worked at Starbucks for about 7 months now and they allow us to have a card called the Money Manager Card. The choice was pretty simple because there are no monthly fees, I can use it on their network (allpoint atms) free at all times, never any fees to buy things (signing or using my PIN and getting cash back if I want…all without a fee or surcharge), no overdraft. Let’s just say I haven’t paid a fee in the entire time I’ve had the card. It’s pretty simple to use it at no charge and I really don’t have to tip-toe around any limited free items like most other cards I have seen have.

    Oh, and don’t lose most payroll cards! If you do, it’ll cost you $$ even to get the replacement sent by the post office. My new card give free replacements when delivered by the post office all of the time. Or, if I want, I can get it delivered by Fedex for $10. Pretty reasonable as I sent something by Fedex a month ago and paid $14!

    My point is, if an employer is set on offering its employees a Paycard, it should do both the company and its employees and offer a Paycard that truly costs $0 to use. When I say $0, I mean $0. Not just $0 if you jump through certain hoops, etc.

    I should state that Walmart has something that is similar sounding to Money Manager Card. I think it is the Money Card or something like that. That card is definitely not the same.

    I did a quick Google search on Money Card when investigating the Starbucks offering and mistakenly clicked on a link to a Money Card “problem” page where people complained about it. Then, I realized that “Money Card” is not “Money Manager Card”.

    Thought I would let you know so you don’t make the same mistake and get yourself a card that will end up costing you $$$$.

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