Who is a bad credit credit card for?
A bad credit credit card can be good for younger borrowers who have a low credit score because they haven’t had a bank account in their name, or they haven’t borrowed before and they’re looking to build up their credit score.
It can also be a good option for small businesses and borrowers with a poor credit history because they’ve struggled to pay back money they’ve been lent in the past and they’re looking to improve their credit score.
A bad credit credit card can also make it possible for a borrower to rebuild their credit score after bankruptcy, but you may have to wait a certain amount of time after being declared bankrupt to be considered for this type of credit card.
Compare credit cards for bad credit
It’s a good idea to compare bad credit credit cards to help you get a better idea of what cards you are more likely to be accepted for before applying. MoneySuperMarket’s credit builder credit card Eligibility Checker asks you questions about your financial situation and will then show you credit cards you are more likely to be accepted for, based on what you could afford to spend and repay each month. It won’t affect your credit score.
You’ll be able to compare credit cards that are designed to rebuild your credit rating. You can sort the results by the “Highest approval likelihood” to then see the interest rates you’d have to pay on any balance transfers and purchases you make. Click into “Full product details” to see the terms and conditions for that card, and any fees and features that come with it.