Getting approved for a new credit card is a popular method for building your credit history. But for people with poor credit, there are alternative methods. The best credit cards bad creditare those with low fees, relatively high credit limits, automatic reviews of your credit limit, and bonuses for making on-time payments. However, rewards should not be the primary attraction of a credit card for people with bad credit.
What credit score do you need to get American Express Blue?
When choosing a credit card for people with bad credit, it is important to look at the APR, annual fee, and minimum credit limit. Although all credit cards come with fees, these fees should not be prohibitive. Many credit cards with bad credit will only charge a small annual fee. Similarly, some will offer benefits or rewards to make up for the annual fee. In addition, a low APR is a plus, as it means you’ll pay less interest than you would with a higher APR card.
If you’re worried about your credit score, consider a student credit card. Some of these cards are available to people with a 500 credit score or less. For example, the Discover it(r) Student Cash Back is available to students with no credit history. These types of credit cards usually do not require annual fees, and may even provide benefits and rewards for students.