Apply for a Bad Credit Credit Card

Credit card issuers are tapping into a growing market of customers with damaged or no credit who have available funds and want to rebuild their credit rating. These may include students, recent immigrants, or individuals who have a low income or have declared bankruptcy.

Cards offered to those with poor credit are often secured, which means that customers must provide funds in advance. Many secured credit cards or stored value cards charge a range of fees including activation, annual, and monthly maintenance fees. Interest rates can be high and credit limits, if available, are often modest although they can increase if the cardholder retains a consistently good payment record.

Many secured or stored value cards offer a reporting service to the major credit bureaus. An additional fee is often associated with this service but it can be an effective way of building or improving the cardholder's credit rating.