Perhaps you've missed payments or carried a balance past your bill's due date. If you have bad credit, take some time to review your credit score and identify the cause. Card issuers look at more factors than just your credit score, including income and monthly housing payments. Take note that even if your credit score falls within the bad range, that is not a guarantee you'll be approved for a credit card requiring bad credit. While a secured card, such as the Discover it® Secured Credit Card or the C apital One Platinum Secured Credit Card (see rates and fees), can help you rebuild credit, you're required to make a security deposit - typically $200 - in order to receive an equivalent line of credit. For example, one of CNBC Select's best credit cards for bad credit, the OpenSky® Secured Visa® Credit Card, has a $35 annual fee though there are no annual fee options.īad credit limits which credit cards you can qualify for the options you have will be primarily secured cards. If you're approved for credit, odds are you'll receive less favorable terms, such as high interest rates or annual fees, compared to applicants with good credit. And if you want to earn rewards or receive luxury travel perks, it'll be near impossible to find a card that accepts bad credit. If you want to get out of debt with a balance transfer card, such as the Discover it® Balance Transfer, you'll need good or excellent credit. Investing +More All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs BondsĪ bad credit score can reduce your approval chances for credit cards and loans, making it difficult to accomplish many goals. Help for Low Credit Scores +More All Help for Low Credit Scores Best Credit Cards for Bad Credit Best Personal Loans for Bad Credit Best Debt Consolidation Loans for Bad Credit Personal Loans if You Don't Have Credit Best Credit Cards for Building Credit Personal Loans for 580 Credit Score Lower Personal Loans for 670 Credit Score or Lower Best Mortgages for Bad Credit Best Hardship Loans How to Boost Your Credit Score Taxes +More All Taxes Best Tax Software Best Tax Software for Small Businesses Tax Refunds Small Business +More All Small Business Best Small Business Savings Accounts Best Small Business Checking Accounts Best Credit Cards for Small Business Best Small Business Loans Best Tax Software for Small Business Personal Finance +More All Personal Finance Best Budgeting Apps Best Expense Tracker Apps Best Money Transfer Apps Best Resale Apps and Sites Buy Now Pay Later (BNPL) Apps Best Debt Relief
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