How to Find Credit Cards That Give You Guaranteed Acceptance
Can you find guaranteed acceptance credit cards in the UK? Sadly no, but there are ways you can make it very unlikely that you will be turned down, even if you have a bad credit rating. Each of the different lenders will have their own rules, but even if you have poor credit you will still be able to get accepted for some credit cards.
Overall, it is unlikely that you will be offered a credit card without some sort of check on your credit history, as the lenders will have to decide whether you are a bad risk or not. But don’t panic, it isn’t all doom and gloom. There are alternatives if you have a bad credit history but you don’t want to be rejected when you are searching for a credit card
What is Bad Credit?
You are classed as having bad credit if you have had a problem with repayments in the past that may or may not have resulted in bankruptcy or County Court Judgements (CCJs) against you. You may also be classed as a credit risk if you have never had a loan before or have no other type of credit history, even if you have managed your money wisely. This could happen very easily if you have just arrived in the UK and it can seem to be a vicious circle – you can only get credit if you have previously had credit. But there are ways around this.
Guaranteed Acceptance Credit Cards or Credit Builder Cards
A way of guaranteeing that you get a credit card is to try for a credit builder card which can be used by people with little or no credit history, or even people with a bad credit history. The idea is to treat them as a way to improve your credit score so that you can be almost guaranteed acceptance for another credit card.
It is important that you pay off the balance every month so that you are not paying interest, but you are building up a paying schedule that proves you can pay back credit when you have it. You must always remember to pay back the balance but also not go over your credit limit. If you have bad credit, the chances are this will be quite low to begin with and the interest rates will be quite high. However, if you do pay off the balance every month the interest rates won’t affect you, and with responsible use the lender may well increase the credit limit once you have proved yourself and your credit score increases.
How to Get Guaranteed Acceptance
It is impossible to get guaranteed acceptance credit cards in the UK, but if you have a poor credit history or you have been rejected it can seem impossible that you would get any sort of card. The problem with a rejection is that each application is noted on your history, and the appearance of too many will put other lenders off. Checking your credit score would be a great first step to see if there is anything you can improve. Often just putting your name on the electoral roll and making sure all the information is accurate is a good start.
Next, you should get in touch with us here at Bonsai Finance. We understand the problems with finding credit cards if you have had a difficult financial past resulting in a bad credit score. We are in contact with many different financial institutions and respected lenders, and they will be able to offer you a credit card whatever your history. Contact us today and start rebuilding your financial future.