There are many factors that can impact your credit score and subsequently stop you from being approved for a credit card. A low credit score can come as a result of a number of reasons, from never having had a credit card before, or from other complications such as moving house a lot and thus confusing your address history. In order to help you build your credit history, credit building credit cards are there as the most basic form of credit card, helping you build your credit rating as long as you make payments on time and remain within your credit limit.
Bad credit can come about if you are bad at managing the debts from any credit agreement you entered, and a bad credit score affects the bank accounts, credit cards, and loans you can apply for. However, it is also worth noting that a bad credit score can also come about if you haven’t built up a credit history or had any debts to pay off.
Can I apply for a credit card even with bad credit?
Don’t worry about your bad credit history when it comes to getting a credit card; if you have a bad credit history, or a credit history that would cause problems in a credit card application, you could benefit from a "bad credit".
The first and most important thing to do if you suspect your credit history may not be good enough to make you eligible for a credit card is to check your credit score which you can do here at SearchMyCredit for free, for life! Your credit score is used by everybody in the financial market and determines your trustworthiness with money. So, it is important that you understand your credit status.
Through our intelligent credit scoring and personalised product pages, we can recommend to you the products we believe provide you with the best chances of approval, regardless of your credit score. Comparing these cards and ensuring that you understand and meet the specific criteria allows you to choose the card that suits you and your credit rating. A "bad credit" card will come with higher interest rates than those appealing to the perfect credit score audience. However, a bad credit credit card allows you to build your credit file up, providing you clear the outstanding amount each month.