If you’re looking to take out a credit card but have bad credit, it’s often difficult knowing where to look and who to turn to! There’s instances where we all need to borrow in an emergency, following a boiler breaking down or the like but if we’ve got bad credit, what are the option? Major banks often won’t touch you and payday loans are a massive no go because of the issues associated with them! As such, what are the options? We’ve joined forces with experts My Family Club to take a look at their latest suggestions (you can see their full list here) and see what to can do when you need a credit card with bad credit!
In short, you can get a credit card if you’ve got bad credit, it’s just a little more difficult than heading to your local bank and filling in a quick application form! You need to go to someone who’s willing to offer a credit card to those with bad credit and you’ll often need to give more information during the application than you otherwise would! You’ll almost certainly still be able to get a credit card with bad credit, you’ll just need to put in a little extra work to get one!
In addition, you’ll probably find that you won’t get the same credit limit as you otherwise would and you’ll probably have to pay a higher rate of interest than on a standard card, however in an emergency when you have no other option to taking out a credit card and you’ve got bad credit, it’s something you simply have to accept and deal with!
All in all, yes you can get a credit card with bad credit but it’s not as easy as approaching your local bank or lender! You’ll often face tougher application processes, a reduce limit and a higher rate of interest, but in an emergency, these type of cards are often a life saver!