One of the most detrimental stigmas when managing finances is a low credit score, which can be caused by any number of reasons which may be no direct fault of the card holder. It doesn’t help that companies aren’t inclined to give second chances, regardless of reason or circumstance. If you have bad credit, it will follow you every time you attempt any sort of financial transaction. This being said, there are still some credit companies who understand and are willing to work with you to provide you with several options to bring your finances under control.
Low deposit credit cards
One example are low deposit credit cards, which require you to pay only a fraction of a deposit for a credit limit, while typical ones require an equal deposit. You can also pay off deposits in installments, making this card ideal for those with damaged credit.
No credit check cards
No credit check cards don’t require credit checks or even a bank account at the expense of no method to upgrade to an unsecured card.
Rewards cards have no annual fee and give cash back rewards on restaurant and gas spending and lower rewards for other spending, at the cost of requiring an initial deposit from a bank account.
Low interest and fee cards
Low interest and fee credit cards offer an APR of only 12.50%, half that of many secured and unsecured cards with no deposit restrictions at the cost of requiring a credit union membership.
A particularly appealing option are first progress secured credit cards, which require no minimum credit score or even a credit file, though your security deposit must equal your credit line.
Pre-paid debit card
While not technically a credit card, pre-paid debit cards set a limit to your spending without requiring a credit score but don’t affect your credit card score positively either.
There are options for you if your credit is less than ideal but they’re still not a free pass and come with the expectation that you will work take responsibility to rebuild your credit. If your finances are in the drain you can still bounce back, as long as you work to not repeat the same mistakes in the future.