Bad Credit Credit Cards
People with bad credit have a limited choice of cards to pick from. Obtaining these cards usually requires some form of collateral and a co-signer. The cards tend to have lower credit limits, higher interest rates and high annual fees. A savings account must first be established at the issuer bank and cannot be withdrawn from. Although they aren't a good deal in credit card terms, credit cards for people with bad credit can significantly help repair damaged credit. Some options include unsecured and secured credit cards, prepaid cards, debit cards and rebate cards. Those with bad credit should make sure they make timely payments and take an active role in repairing their credit.
The Pros and Cons of
Credit Cards for People with Bad Credit