Cards for Poor Credit

Credit card and other options within the poor credit category are typically narrower than those in the good or fair categories. Not sure what your credit score is? Sign up for a Free Score today. Once you know your credit score, match it to a list of credit cards options for your score.

Search Now on the CreditSoup.com secure website.
Cost
No Charge to find out if you're Pre-Qualified
Credit Limit
Varies based on the card you choose
Card Types
Cards for Every Credit Type
Search Now on the CreditSoup.com secure website.

Highlights

  • Cards for Every Credit Score
  • See if You're Pre-Qualified
  • Find The Best Credit Card for You. Compare Top Card Offers and Apply Online!
  • Get Personalized Credit Card Offers in Seconds. No Impact to Your Credit Score!
  • Compare Offers and Apply Today
See additional details for Find The Best Credit Card for You!

Aspire® Cash Back Reward Card

Credit Recommended:
Fair
Apply Now on the Aspire secure website.
Credit Recommended:
Fair
Rewards Rate 1
Up to 3% Cash Back Rewards; 3% Cash Back Reward on Gas, Groceries and Utility Bill Payments. 1% Cash Back Reward on all other eligible purchases.
Credit Line
Up to $1,000 credit limit subject to credit approval
Regular APR
29.99% or 36% Fixed
Apply Now on the Aspire secure website.
Credit Recommended
Fair
Annual Fee
As low as $85
Card Brand
Mastercard®

Highlights

  • Earn 3% Cash Back Rewards* on Gas, Groceries and Utility Bill Payments
  • Earn 1% Cash Back Rewards* on all other eligible purchases
  • Up to $1,000 credit limit subject to credit approval
  • Prequalify** without affecting your credit score
  • No security deposit
  • Free access to your VantageScore 4.0 score from TransUnion®†
    *See Program Terms for important information about the cash back rewards program.
    ** Prequalify means that you authorize us to make a soft inquiry (that will not affect your credit) to create an offer. If you accept an offer a hard inquiry will be made. Final approval is not guaranteed if you do not meet all applicable criteria (including adequate proof of ability to repay). Income verification through access to your bank account information may be required.
    † Your credit score will be available in your online account starting 60 days after your account is opened. (Registration required.) The free VantageScore 4.0 credit score provided by TransUnion® is for educational purposes only. This score may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
See additional details for Aspire® Cash Back Reward Card

Super+

Credit Recommended:
300-700
Apply Now on the issuer’s secure website.
Credit Recommended:
300-700
Cost
$15/Month for Super+
Credit Monitoring
Yes
Credit Recommended
300-700
Apply Now on the issuer’s secure website.
Card Brand
Mastercard®

Highlights

  • Members have seen their credit scores increase 28 points on average in 2 weeks by reporting their rent payments through Super+
  • Get a cash advance up to $250 or your money back guaranteed - with no interest or credit check
  • Credit building suite with bureau reporting, monitoring, and credit report access
  • Super Card with 0% APR
  • Unlimited 1-10% Cashback
  • $15/month for Super+
  • Money Back Guarantee*
  • *Not all users will qualify. Advances range from $20 to $250. Express transfer fee may apply. Terms apply.
See additional details for Super+

Group One Platinum Card

Credit Recommended:
Damaged/Fair
Apply Now on the issuer’s secure website.
Credit Recommended:
Damaged/Fair
Credit Limit
$750 Limit (Usable only at TheHorizonOutlet.com)
Regular APR
0% APR
Monthly Fee
See website for Details*
Apply Now on the issuer’s secure website.
Credit Recommended
Damaged/Fair

Highlights

  • No Employment or Credit Check
  • Bad Credit, No Credit? No Problem!
  • Fast and Easy Application
See additional details for Group One Platinum Card

FIT™ Platinum Mastercard®

Credit Recommended:
Fair/Poor/Bad
Apply Now on the Continental Finance secure website.
Credit Recommended:
Fair/Poor/Bad
Regular APR
35.90% Fixed
Annual Fee
$99 introductory fee for the first year, then $125 thereafter
Credit Recommended
Fair/Poor/Bad
Apply Now on the Continental Finance secure website.
Intro Rate
N/A
Intro Period
N/A
Balance Transfer
N/A

Highlights

  • $400 credit limit doubles to $800! (Simply make your first 6 monthly minimum payments on time)
  • All credit types welcome to apply
  • Monthly reporting to the three major credit bureaus
  • Initial Credit Limit of $400.00 (Subject to available credit)
  • Fast and easy application process; results in seconds
  • Use your card at locations everywhere Mastercard® is accepted
  • Access to your Vantage 3.0 score from Experian (When you sign up for e-statements)
  • Checking Account Required
See additional details for FIT™ Platinum Mastercard®

Sezzle

Credit Recommended:
Poor, Fair, Good
Get Started on the issuer’s secure website.
Credit Recommended:
Poor, Fair, Good
Products Offered
Buy Now. Pay Later
Coverage
Nationwide
Credit Recommended
Poor, Fair, Good
Get Started on the issuer’s secure website.

Highlights

  • Sezzle enables you to obtain no-interest loans for purchases.
  • No hard credit check.
  • Simple, transparent 6-week payment plan.
  • With the Sezzle subscription, Sezzle Anywhere, shoppers can shop at any retailer (in store and in person) and pay in 4 with Sezzle.
See additional details for Sezzle

First Digital Mastercard®

Credit Recommended:
Poor/Damaged/Fair
Apply Now on the First Digital secure website.
Credit Recommended:
Poor/Damaged/Fair
Regular APR
35.99%*
Cash Advance APR
35.99%*
Annual Fee
$75.00 1st year, $48.00 after*
Apply Now on the First Digital secure website.
Cash Advance Fee
Either $10, or 3% of the amount of the Cash Advance, whichever is greater.
Credit Recommended
Poor/Damaged/Fair
Program Fee
$95.00*

Highlights

  • Earn 1% cash back rewards on payments made to your First Digital Credit Card
  • Checking Account Required
  • $300 credit limit (subject to available credit)
  • Build up your credit history with a card that reports to all three major credit bureaus every month.
  • Perfect credit not required for approval; we may approve you when others won’t.
  • *See Rates, Fees, Costs & Limitations for complete offer details
  • See Cash Back Rewards Programs Terms & Conditions for details
See additional details for First Digital Mastercard®

Get Started on the Perpay secure website.
Approval Limit
$1,000 average Spending Limit
Activation Fee
$0
Monthly Fee
$0
Get Started on the Perpay secure website.
Credit Check
No

Highlights

  • Unlock a $1,000 average Spending Limit instantly
  • No interest, fees, or credit check
  • Shop top brands in the Perpay Marketplace (Apple, Sony, MCM, Nike & more)
  • Pay over time with easy payments from your paycheck
  • Shop and build credit by 36 points on average
See additional details for Perpay

Net First Platinum

Credit Recommended:
Damaged credit to Fair credit
Apply Now on the issuer’s secure website.
Credit Recommended:
Damaged credit to Fair credit
Credit Line
$750 Limit (Usable only at TheHorizonOutlet.com)
Regular APR
0% APR
Monthly Fee
See website for Details*
Apply Now on the issuer’s secure website.
Credit Recommended
Damaged credit to Fair credit

Highlights

  • No Employment or Credit Check
  • Bad Credit, No Credit - OK
  • Always 0.0% APR
  • Fast Online Applications
See additional details for Net First Platinum

*See Card for Details


OpenSky® Plus Secured Visa® Credit Card

Credit Recommended:
No credit, Poor, Fair
Apply Now on the Capital Bank N.A. secure website.
Credit Recommended:
No credit, Poor, Fair
Rewards Rate
up to 10% cash back* rewards on purchases at over 40,000 retailers
Regular APR
29.99% (variable)
Credit Line
$300-$3000 at time of application
Apply Now on the Capital Bank N.A. secure website.
Annual Fee
$0
Credit Recommended
No credit, Poor, Fair
Cash Advance APR
29.99% (variable)

Highlights

  • New feature! Earn up to 10% cash back* on everyday purchases
  • No annual fee
  • No credit check to apply. Find out instantly if you are approved- Zero credit risk to apply!
  • Looking to build or rebuild your credit? 2 out of 3 OpenSky cardholders increase their credit score by an average of 41 points in just 3 months
  • Monitor your credit progress with free access to your FICO Credit Score.
  • Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and TransUnion
  • Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
  • Secure your credit line with a refundable security deposit - as low as $300.
  • Easy application, apply in less than 5 minutes right from your mobile device
  • Offers flexible payment due dates which allow you to choose any available due date that fits your payment schedule
  • Now you can make smaller partial payments towards funding your security deposit over 60 days
  • Over 1.4 Million Cardholders Have Used OpenSky Secured Credit Card To Improve Their Credit
  • *See Rewards Terms and Conditions for more information
See additional details for OpenSky® Plus Secured Visa® Credit Card

First Latitude Select Mastercard® Secured Credit Card

Credit Recommended:
Poor/Limited/No Credit
Apply Now on the issuer’s secure website.
Credit Recommended:
Poor/Limited/No Credit
Rewards Rate
1% Cash Back on payments
Annual Fee
$39.00
Regular APR
19.24% (V)
Apply Now on the issuer’s secure website.
Cash Advance APR
25.24% (V)
Credit Line
Minimum refundable deposit of $200.00 up to $2,000.00*
Credit Recommended
Poor/Limited/No Credit

Highlights

  • Earn 1% Cash Back Rewards on payments made to your First Latitude Secured credit card account.
  • Past credit issues shouldn’t prevent you from getting a credit card with great benefits & rewards!
  • Choose your own fully-refundable credit line - $200 to $2000 – based on your security deposit.
  • Build or rebuild your credit!¹
  • Accepted wherever Mastercard® is accepted
  • Reports to all 3 credit bureaus
  • No minimum credit score required for approval!
  • ¹Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
  • *See Important Disclosures for complete offer details
Rates & Fees

Arro Card

Credit Recommended:
All Credit Types Accepted
Apply Now on the issuer’s secure website.
Credit Recommended:
All Credit Types Accepted
Regular APR
16% Variable
Credit Recommended
All Credit Types Accepted
Card Brand
Mastercard®
Apply Now on the issuer’s secure website.
Late Payment Fee
Up to $8
Return Payment Fee
None
Annual Fee
$36* (*discounted in Year 1 for starting credit lines under $200)

Highlights

  • All credit types accepted.
  • Arro's soft credit pull does not impact your credit score.
  • Through in-app personal finance activities, members receive real time credit limit increases and other rewards.
  • Opportunities to decrease your interest rate.
  • Use your Arro Card anywhere Mastercard is accepted.
  • Application takes as little as 5 minutes.
See additional details for Arro Card

Upgrade Select Visa®

Credit Recommended:
See website for Details*
Apply Now on the Upgrade secure website.
Credit Recommended:
See website for Details*
Annual Fee
$39
Intro Purchase APR
N/A
Regular APR
21.96% -29.99%
Apply Now on the Upgrade secure website.
Intro Transfer APR
N/A
Cash Advance APR
N/A
Cash Advance Fee
N/A

Highlights

  • $200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions*
  • Combine the flexibility of a card with the predictability of a personal loan
  • No touch payments with contactless technology built in
  • See if you qualify in minutes without hurting your credit score
  • Mobile app to access your account anytime, anywhere
See additional details for Upgrade Select Visa®

*To qualify for the welcome bonus, you must open and fund a new Rewards Checking Plus account through Upgrade and make 3 qualifying debit card transactions from your Rewards Checking Plus account within 60 days of the date the Rewards Checking Plus account is opened. If you have previously opened a checking account through Upgrade or do not open a Rewards Checking Plus account as part of this application process, you are not eligible for this welcome bonus offer. Your Upgrade Card and Rewards Checking Plus account must be open and in good standing to receive a bonus. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking Plus account as a one-time payout credit within 60 days after meeting the conditions.

Rates & Fees

Indigo® Mastercard® for Less than Perfect Credit

Credit Recommended:
Bad/Poor/Fair
Apply Now On the Indigo® Mastercard® secure website
Credit Recommended:
Bad/Poor/Fair
Annual Fee
$175 - $199
Regular APR
35.9%
Credit Recommended
Bad/Poor/Fair
Apply Now On the Indigo® Mastercard® secure website
Card Brand
Mastercard®
Foreign Trans Fee
1% of each transaction in U.S. dollars

Highlights

  • Now with higher credit limits
  • Increase your access to available credit
  • Higher limit than before, still no security deposit required!
  • Greater access to credit than before
  • Less than perfect credit is okay
  • Mobile account access at any time
  • Account history is reported to the three major credit bureaus in the U.S.

Reflex® Platinum Mastercard®

Credit Recommended:
Fair/Poor/Bad/Limited
Apply Now on the Continental Finance secure website.
Credit Recommended:
Fair/Poor/Bad/Limited
Regular APR
35.90% Fixed
Annual Fee
$75 - $125
Credit Recommended
Fair/Poor/Bad/Limited
Apply Now on the Continental Finance secure website.
Intro Rate
N/A
Intro Period
N/A
Balance Transfer
N/A

Highlights

  • Up to $1,000 credit limit doubles up to $2,000! (Simply make your first 6 monthly minimum payments on time)
  • See if you’re Pre-Qualified with no impact to your credit score
  • All credit types welcome to apply
  • Access to your Vantage 3.0 score from Experian (When you sign up for e-statements)
  • Initial Credit Limit of $300 – $1,000 (subject to available credit)
  • Monthly reporting to the three major credit bureaus
  • Fast and easy application process; results in seconds
  • Use your card at locations everywhere Mastercard® is accepted
  • Checking Account Required
See additional details for Reflex® Platinum Mastercard®
Rates & Fees

Capital One Platinum Secured Credit Card

Credit Recommended:
Limited, Bad
Check Pre-Approval on the Capital One® secure website.
Credit Recommended:
Limited, Bad
Annual Fee
$0
Minimum Deposit
$49, $99 or $200
Regular APR
29.99% (Variable)
Check Pre-Approval on the Capital One® secure website.
Fraud Coverage
$0 Fraud Liability for unauthorized charges
Balance Transfer Fee
Balance Transfer Fee applies to balances transferred at a promotional rate
Foreign Trans Fee
None

Highlights

  • No annual or hidden fees. See if you're approved in seconds
  • Building your credit? Using the Capital One Platinum Secured card responsibly could help
  • Put down a refundable security deposit starting at $49 to get a $200 initial credit line
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
See additional details for Capital One Platinum Secured Credit Card
Rates & Fees

Get Started on the Self's secure website.
Credit Recommended:
None/Poor
Primary Benefit
Build credit and savings at the same time.
Credit Check
No Hard Credit Check Required
Products Offered
Credit Builder Account and Self Secured Credit Card
Get Started on the Self's secure website.
Credit Recommended
None/Poor
Loan Amount
See website for details*

Highlights

  • If you have an active Credit Builder Account in good standing, 3 on time payments, $100 or more in savings progress and satisfying income requirements you may be eligible to receive the Self Secured Visa Credit Card*, without a hard credit check. Criteria subject to change.
  • Build credit and savings at the same time.
  • Start with a Credit Builder Account* that reports monthly payments to all 3 major credit bureaus.
  • At the end of your plan, unlock the savings you built — minus interest and fees.
  • The Self Visa® Secured Credit Card* is accepted at millions of locations in the U.S.
    *Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., SouthState Bank, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval. Self Secured Visa® Credit Card issued by Lead Bank, First Century Bank, N.A., or SouthState Bank, N.A., each Member FDIC. See Self.inc for details. Subject to ID Verification. Individual borrowers must be a U.S. citizen or permanent resident and at least 18 years old. Valid bank account and Social Security Number are required. All loans are subject to consumer report review and approval.
Advertiser Disclosure

Are there credit cards for people with poor credit histories?

Yes, there are credit card options for people with poor credit histories. In many cases, it’s possible for people with a poor credit history to obtain either a secured or unsecured credit card. These cards normally have higher interest rates and fewer perks than credit cards for people with better credit scores. Despite the downsides, they provide a good opportunity to pay credit card bills on time and may raise your credit score.

Some credit cards for people with poor credit histories require security deposits. In such cases, the security deposit will become your credit limit. This gives the company the security of knowing you won’t default on any credit card balances you owe if payment is not made.

Should someone with poor credit consider applying for a credit card?

Yes, people with poor credit should still consider applying for a credit card. Many people think they are ineligible for a credit card because of their low credit score. However, this is rarely true. Some companies even make specific cards intended for consumers with low credit. These cards provide the opportunity to rebuild credit and may allow you to raise your credit score so you’ll be eligible for better cards in the future.

Your credit will not fix itself, and in most cases, applying for a credit card is the best first step to raise your poor credit score. Then if you're approved, keep your balance under the credit limit, and make on-time payments. Although it can be daunting to face your fear of rejection and apply, it’s best to get the application process out of the way so you can get on the road to try improving your credit score.

What type of credit score is typically considered poor?

By the VantageScore credit scoring system, anyone with a credit score below 550 is generally considered to have poor credit.

Can credit cards for poor credit help improve your credit score and history?

If you use credit cards for poor credit responsibly, it’s possible to improve your credit score and build a history of good credit. By paying your credit card bill on time each month, you can establish good credit history.

Even if a credit card has a very high interest rate or requires a security deposit, using it properly will rebuild your credit and improve your credit score. By properly managing your finances, eventually you will qualify for better credit card offers and be able to leave the cards for poor credit behind.

Eventually your past credit errors will be improved by good credit decisions and lenders will be much more likely to trust you. You will be able to qualify for better interest rates on loans and credit cards, as well as better rewards programs and sign-on bonuses for credit cards.

It’s important to remember that prepaid debit cards will not improve your credit score or credit history. These cards will not show up on your credit report at all.

Are there unsecured credit cards for poor credit scores?

Yes, there are unsecured credit card options for people with poor credit scores. These credit cards don’t require a security deposit, but they typically have higher interest rates than secured credit cards. Some of these cards have interest rates as high as 25%. Your interest rate will be calculated by your credit score, so if your score is extremely low you can expect very high interest rates.

This is why it’s important to carefully read about each credit card that you apply for. Besides very high interest rates, some unsecured cards for poor credit may have other downsides, such as stiff penalties for missed payments. By taking time to read your cardholder agreement and becoming familiar with the rules of your card, you’ll be able to make an informed decision about what card is right for you.

Some people don't like the sound of a secured credit card so their automatic reaction is to seek an unsecured card. However a secured card can be a useful tool to build up your credit score and get your credit back on track. They should not be automatically dismissed. In fact, many secured credit cards offer better interest rates and opportunities than unsecured cards for people with poor credit.

Are there credit cards for people with poor credit that are instant response?

Yes, there are credit cards for people with poor credit that are instant response. Some credit cards have an extremely fast application processing time and will give you an answer in seconds. However, these credit cards are somewhat rare for people with bad credit and are usually not put out by major credit card companies. Generally the instant response cards intended for people with bad credit are put out by smaller companies.

Additionally, some companies will charge a “program fee” for instantly accepting your application which most people would be better off avoiding. Always carefully read the fine print before applying for instant response credit cards to ensure you won’t be charged a program fee.

Some instant response cards expect the customer, if approved, to be impulsive and to agree to their terms without carefully reading the cardholder agreement and becoming familiar with the card. Therefore, these cards can have hidden fees and other downsides. It’s not uncommon for them to have annual fees as well as programming fees and high interest rates. Always make sure you know what you’re signing up for before making a commitment.

Are there cards for poor credit that have no deposit required?

Yes, there are credit cards for poor credit that have no deposit required. However, it can be difficult to find these cards. Most credit cards intended for people with bad credit require some sort of payment or deposit to make purchases. This is because credit companies are attempting to prevent people from opening accounts and ringing up a large credit card bill with no intention of ever paying it off.

Although credit cards without a deposit are available for people with poor credit, they may have downsides such as higher interest rates than the ones that require a deposit. It’s important to keep this in mind while shopping around for credit cards, because a high interest rate could end up being a bigger disadvantage than a security deposit in the long run.

A deposit is not necessarily a bad thing, and in many cases the deposit is refundable or can go towards your last credit card bill with the company.

Do poor credit credit cards have an annual fee?

Most credit cards intended for people with poor credit have an annual fee. It’s possible to find ones without the annual fee, but they may have other downsides instead. For example, a card without an annual fee may have a much higher interest rate than one with a fee. The increased interest could end up costing you more money in the long run, so it’s important to carefully analyze each card’s advantages and disadvantages before committing.

Although it can be frustrating to have limited choices for cards with annual fees, it’s important to remember that the poor selection is temporary. By building your credit using a card with an annual fee, you’ll soon be eligible for better offers from cards with no annual fee.

Are there Visa and Mastercard branded offers for people with poor credit scores?

There are Visa and Mastercard branded offers available for people with poor credit scores. They may have to apply through another smaller company to obtain the card, but the card will be endorsed by Visa or Mastercard and have one of their logos in the corner. This means that the offer terms are determined by the smaller company that puts out the card, but the card itself is backed by Visa or Mastercard.

Will I be able to fix my credit mistakes if I’m accepted for a new credit card?

Although your old credit mistakes may linger on your credit report for up to 7 years, it’s possible to outweigh them with a good credit history. If lenders see that you made mistakes a few years ago but have since improved your credit management skills, they’ll be much more likely to allow you to borrow money.

Many people successfully improve their credit score even after making mistakes and poor financial decisions. By making purchases on a new card, paying your balance on time and carefully managing all your debt, you’ll be well on your way to improving your credit score and fixing your past mistakes.

Are there other things I can do besides applying for credit cards that may raise my low credit score?

Without making payments on a credit card or a loan, it’s difficult to raise your credit score. You need to have some sort of credit activity in order for your score to increase.

Applying for a loan or mortgage and making payments on it may also raise your credit score, but the principle is the same as a credit card because you’re still paying off a debt.

You don’t necessarily need to apply for new credit cards in order to raise your credit score. It’s possible to raise it by making changes to your current credit card habits instead of applying for new cards. Consider paying off all of your current balances before making new unnecessary purchases. Make sure you never miss a payment. By properly managing your current debt and not taking on any new burdens you may be able to raise your credit score.

How long will it take to raise my credit score from poor to good so I can apply for a better credit card?

There’s no solid answer for how long it will take to raise your credit score from poor to good. It depends on how often you use your credit cards, how close you get to your spending limit each month, whether or not you always pay your bill on time, and a number of other factors. It will most likely take at least a few months to start seeing a real difference, and around a year of good credit card management to start seeing some serious improvement.

These numbers are different for everyone and depend entirely on your individual spending habits. For some people it will be shorter and for others it will be a lot longer. If you work on changing your spending patterns, eventually paying your credit card bill on time and properly managing your debt will become habit.

If a family member adds me as an authorized user on their credit card, will this improve my credit score enough for me to get my own card?

Becoming an authorized user may increase your credit score and get you on your way to having a good credit history. It’s impossible to say if this one activity will raise your credit score enough to qualify for your own card. It depends entirely on what your credit score was in the past and also on the cardholder’s spending habits.

For some people it’s possible to raise their credit score enough to qualify for their own credit card simply by becoming an authorized user. For others, it’s not enough.

When becoming an authorized user, always make sure the account holder has responsible habits and pays their credit card bills on time. Also, always remember to be respectful and pay your share of the bill on time every month. Becoming an authorized user is a great way to improve your credit score while also learning responsible credit card habits.

What happens if I miss a payment on my credit card for poor credit?

Credit cards intended for people with poor credit can have stiffer penalties than regular credit cards. By missing a payment you risk being hit with steep late fees and having your interest rate go up. While late payments on regular cards might be $25 to $35, certain cards for people with poor credit can charge up to $60 for a single 30-day late payment. If you’re more than 30 days late the fees increase even more, and you could end up with hundreds of dollars in late fees alone if you let it get out of hand.

Additionally, your credit score will be impacted by your late payment and all of the hard work you’ve done to raise your credit score would be offset. Your credit score could be lowered up to 110 points for a single late payment, depending on how long you let it go and how much money is owed.

You should make every effort to pay your bill on time, unless there are extraordinary circumstances, in order to avoid steep late fees.

Do cards for poor credit have rewards programs?

Most credit cards for people with poor credit don’t have rewards programs. If they do, they’re usually not as good as rewards programs on regular credit cards. You’ll earn rewards at a slower rate and the rewards themselves are generally not as enticing as they are with other cards. However, it’s still possible to earn some rewards points as long as you don’t mind the slower rate of earning.

Do credit cards for people with poor credit have sign-on bonuses?

Credit cards for people with poor credit generally do not have sign-on bonuses. Companies use these bonuses as incentive to get people with good credit to sign up for their card. They generally won’t offer them to people with poor credit because they aren't confident in their credit history enough to give them a reward. By carefully building your credit and improving your credit score with a card intended for poor credit, you can eventually raise your score enough to qualify for cards that offer sign-on bonuses.

What happens if I apply for a credit card intended for people with poor credit and get denied?

If your credit card application is denied, the best thing you can do is research other credit cards that are more likely to accept you. Your credit score may drop a few points because of the hard inquiry on your credit report from the application, but the damage is minimal and easy to repair.

If you’re having trouble getting accepted for credit cards for people with poor credit, consider applying for a secured card instead, if you haven’t already. You could also see if a family member will add you as an authorized user on their account, which may help you to raise your credit score so you’re more likely to be accepted for your own card.

How can I properly use my credit card to ensure my credit score goes up?

One good technique for using your credit card is to make sure you never charge it up close to the limit. To understand why doing this is a bad thing, let’s take a look at credit utilization. When your credit card balance is close to your credit limit, your credit utilization goes up and this can negatively impact your credit report. Credit utilization is a ratio that compares your available credit to your credit limits. As long as your credit utilization is below 50%, your credit report will not be negatively impacted. However, when it gets higher than 50% your credit score may be lowered.

For example if your credit card balance is $500 and your credit limit is $2,000, your credit utilization is measured at 25%. This value is considered good and will not impact your credit score. However, if your credit card balance is $1,500 and your credit limit is $2,000, this means your credit utilization ratio is at 75%. This is considered poor credit utilization and could end up lowering your credit score.

By being mindful of proper credit utilization you can avoid blows to your credit score and build good credit history. This is simply one of many techniques you can practice to increase your credit score. Always set reminders to pay your bills on time and avoid late payments at all costs. Never make a purchase if you don’t think you’ll be able to pay it back. Remember that every credit decision you make could end up impacting you for years to come.

My credit card was lost or stolen and I had fraudulent charges that damaged my credit report. Can I get the damaging information removed?

If your credit card was lost or stolen you are never responsible for the fraudulent charges. If you noticed fraudulent activity on your credit card bill, contact your credit card company immediately. They will be able to remove the charges from your statement and prevent it from impacting your credit history.

However, sometimes errors are made and the fraudulent activity will still show up on your credit report. If this occurs you’ll be able to contact one of the three credit bureaus (TransUnion, Experian, or Equifax) that reported the error and they will be able to revise the report. You can choose to report the error online or by phone.

If you’ve been a victim of fraud, there’s no need to worry about long-term damage to your credit score because credit card companies are very familiar with the situation and know exactly how to fix it. Simply contact them and they will make things right for you.

Will I be able to qualify for a credit card for people with bad credit after bankruptcy?

It will be difficult to qualify for a credit card soon after going through bankruptcy. However, many credit card companies are still willing to give people a chance after they have gone through this life-changing event. If they see you have a decent income and have changed your spending habits since filing for bankruptcy, they will be much more likely to give you a credit card.

Furthermore, if the bankruptcy was a few years in the past you will be much more likely to be considered for a credit card. If time has passed and you show signs of altering your spending habits and being able to better manage your finances, you stand a decent chance at getting a credit card even after bankruptcy.

If you’re having trouble qualifying for a credit card after bankruptcy, consider applying for a secured card. These are much easier to get than other credit cards and may help you improve your credit score.

*See online credit card application for details on the terms and conditions.

**Credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any credit card product.


As featured on:
Huffpost Inc Nasdaq

Advertiser Disclosure

CreditSoup is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which CreditSoup receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditSoup does not include all companies or all offers available in the marketplace. CreditSoup may use other proprietary factors to impact offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval.

Editor’s Rating

Our editors review each credit card and provide our ratings based on the features the credit card offers consumers including the fees, interest rates, benefits, rewards, and how it compares to other credit cards in its category. Card ratings may vary by category as the same card may receive a different rating based on that category.

CreditSoup.com may be compensated by companies mentioned on our site when a consumer’s application is accepted or approved by the company.