Whether you have no poor credit credit cards uk, a credit card designed specifically for people in your situation can be one of the best tools you have for rebuilding your credit. Getting prequalified can also help you find cards that you qualify for without hurting your score with a credit check.
WalletHub’s credit card experts regularly compare more than 1,500 credit offers, including many from WalletHub partners, to select the best credit cards for people with bad credit. These cards are selected based on factors such as their approval requirements, credit-bureau-reporting practices, fees and rewards.
Credit cards for poor credit are typically the easiest and fastest way to build your credit. Unlike traditional credit cards, they’re designed to help you build your credit rather than reward you for spending.
The Pros and Cons of Credit Cards for Poor Credit
Payment history is the single biggest factor in your credit score, so it’s important to pay your bills on time. Missing payments can have a serious impact on your credit, and late fees can add to your balances.
A good credit score depends on how much you spend on credit, your debt-to-income ratio and your length of credit history. A 10-year-old credit card can be valuable from a scoring perspective, so it’s important to keep old accounts open and use them at least once a year.
Unsecured credit cards are typically a poor choice for people with bad credit, because they often come with high fees and confusing terms. Plus, most unsecured cards don’t offer credit-building features or upgrades until you have a better credit history.