If you want to get unsecured credit card but you have bad credit actually you can get 1 or 2 credit cards! not many company will rely on credit score! because if they really want to make nice profit, using FICO score are not always best Idea! for most company relying on FICO score can make their business growth at stable pace, with less default!
Sure, most credit cards company can do this! but what if most application go to the top credit cards company ? then the answer is, some company have to lowering their score to get more costumers and stay in business! in short there always be a company that approved people with bad credit score! after all credit score are only a half factor for bank or financial institution to make decision whether approval or rejected!
here some list credit cards for bad credit! but some list also consider bad credit application!
- Credit One Bank® Platinum Visa® Annual fee $99 their APR 16% to 24%
- Milestone MasterCard Annual fee $99 APR 23%
- Indigo MasterCard Annual Fee $99 APR 23%
- Total Visa Annual fee $75 APR 29%
- First Premier MasterCard Annual $125 APR 36%
- Surge MasterCard Annual Fee $125 APR 30%
If we talk about credit card company that accept bad credit most of the time, they will give you lower limit with High FEE! just remember that! 😉 because for some reason actually from the first beginning when company know you have bad credit actually they already know, dealing with people that have bad credit are high risk! so don’t be surprised if their credit limit max are about $1500! with $100 annual fee! but its very rare for you to get max limit for first year! you need to have at least more than 1 years dealing with them!
and to be honest I don’t blame them to charge high fee with high interest rates! simply because to cover other creditor that failed to pay or even default! so basically charging high in first years with low limit are the best management risk they can do to avoid loses! so hopefully you understand the situation! and If I were you, I will try another company or even try credit unions! as alternative! because if you do business with federal credit union, you will get lower APR! but not sure, they will accepted or not, if you have bad credit because most of credit union usually have high standard to approved someone!
anyway just suggestion! if you have bad credit and apply another credit to cover your debt! I don’t think it will be wise things to do! but if you want to start over and build your credit score! try with secured credit cards, with some company or maybe credit union, try to build up your report! who knows maybe you can manage your debt, and they feel you already better than before! as result they will give you unsecured credit cards! for some reason sometime secured credit cards are the most reasonable step to fix your score! and get your unsecured credit cards! 🙂