Bad Credit Credit Cards: The Truth, The Whole Truth and Nothing But the Truth
So You Think You Know About Bad Credit Credit Cards?
Bad credit credit cards -- the bane of the entire credit card industry, right? Wrong. So you have some dings on your credit. You're definitely not alone. In fact, according to some studies, only about one percent of the entire population has perfect credit. But can you still get a credit card with bad credit? Yes -- or rather, most likely. Here are a few things you need to know.
How Bad Is It?
First I've gotta ask you do to the impossible. Look at yourself in the mirror and ask yourself how bad it really is -- and be completely honest! Is your credit just a little dinged up. Maybe some medical bills you couldn't pay off fast enough? Or is it outright horrendous? Foreclosure? Repossession? A bouquet of 90-day late payments?
You need to look your credit situation right in the eye. How extensive the damage is plays a huge role in what type of bad credit credit cards you qualify for. If you only have a ding or two, you can likely qualify for the majority of credit cards -- not just the ones for bad credit. If, however, the damage is pretty severe, you're going to have to settle for the higher-interest bad credit credit cards and maybe even a secured card until you get your financial affairs in order.
The Good News
Yes, my friends, there is some good news in this bad credit mess. Even if you have to settle for the bad credit credit cards, there are some really good choices out there nowadays. Forget about "application fees" and "processing charges" off $100 or more. A few of the credit cards geared towards people with with bad credit charge an annual fee of only $59 or $79 and an APR of less than 20 percent -- and no processing or enrollment charges to boot.
So don't let your bad credit get you down. Everyone makes mistakes. It's a matter of learning from them and moving on. By applying for one or two bad credit credit cards and rebuilding your credit history, you'll be on the path to good credit before you know it.
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