You want a credit card but have bad credit; you might think it impossible. However, there is such a thing as a bad credit card and here we talk about how to apply for credit card with bad credit and why doing so is popular.
Applying for “Typical” Credit Cards May Hurt Your Credit Score
If you would like the security of a credit card but have been turned down when applying in the past, do not keep applying as multiple rejections over a short period may hurt your credit rating. It has also been known for banks to make mistakes and a person’s credit rating can be affected. Instead, look into applying for a credit card specifically designed for people with bad credit with our help. Applying for a credit card this way is popular as we work with lenders who are more willing to approve you for a credit card, instead of turning you down.
Lenders Who Specialise in Dealing with People with Bad Credit
Yes, there are lenders who specialise in dealing with people with bad credit. Here at Bonsai Finance, we work with lenders who do not put the focus on your credit rating in the past but instead look at your income in the future and whether or not they think you can repay.
With lenders such as these, you are more likely to get approval for a credit card first time around if you have bad credit. These lenders do not think you should be financially compromised because of mistakes with credit in the past. This is one of the biggest reasons credit cards of this type are popular among people with bad credit.
Apply for Your Credit Card through a Specialist
We are specialists in matching up people with bad credit with lenders willing to offer credit cards to those who do not have a perfect credit rating. Applying for credit cards, this way is very popular due to the many benefits.
One of the biggest benefits is there is more chance of you being approved for credit with one of the lenders we work with. Therefore, you do not have to search online yourself for lenders to find lenders yourself who will hopefully approve you, only to find yourself being turned down repeatedly.
Lenders Offer Choices for Those with Bad Credit
Applying for a credit card when your credit rating is poor is popular as lenders who specialise in offering credit to those with poor rating offer choices. If your credit rating is so bad that you cannot get a “normal” credit card, a lender may be able to offer you a prepaid credit card. In one sense, this is not a credit card, as you cannot borrow on it, you do have to put money onto the card through your bank before you can use it. However, for those with very bad credit, it is one solution and it can help you show you are sensible with spending. This may lead to you being able to get credit in the near future.
The lenders we work with typically offer the most attractive deals for a credit card based on your circumstances. You will be given a credit limit to reflect this, if approved, and providing you repay on time this may increase in the future. You might have to start with a relatively high APR but once your credit rating has improved you might be able to get a credit card with a more attractive rate.
Apply for Credit Card with Bad Credit to Help Your Credit Rating
Instead of applying for “typical” credit cards with attractive bonuses and special offers and being turned down and damaging your credit rating more, a bad credit card can actually help you to improve your credit rating. While it may not offer the lower more attractive percentage rates or special offers, it is a step onto the credit ladder.
A credit card specifically for those with bad credit is popular among people with bad credit for rebuilding a rating. There are some things to bear in mind if you want to use the card to help improve your rating. For instance, this will only work if you manage your credit card properly and repay at least the minimum amount on the card without being late and without missing payments. If you fall behind with the repayments or are continually late with them, you will find yourself doing what you do not want, damaging your rating even more.
Contact us today and find out how to apply for credit card with bad credit the easy way and why we are so popular.