Bad Credit - Credit Cards

With a poor or adverse credit history, you may find it hard to obtain a credit card. If you do get offered a card, you are likely to have to pay a higher rate of interest and your credit limit may be lower.

In recent years it has become a little easier to obtain credit cards with a bad credit record. The following providers have credit cards targeted at people with a history of debts, CCJs etc		Easy to Obtain Credit Cards
		Extreme Cred - Prepaid card
		Capital One Classic VISA
		Aqua Cards

What Is An Adverse Credit History?

Bad Credit - Credit Cards Image - Girl with no money holding open her hands When you apply for a credit card, the credit card companies will check your credit history with one of the credit reference agencies. The main two agencies in the UK are Equifax and Experien.

Contact them at Equifax or Experien if you want to find out what information your file contains or you can subscribe to their service to get regular updates.

An adverse credit history would include one or more of:

County Court Judgements (CCJs)
Late payments – credit cards, loans or household bills
Defaults
Bankruptcy

A credit card company may also be concerned if:

You are not registered to vote at the address stated on your credit card application
You have made a large number of applications for credit cards
You have not previously had any credit.

People are often surprised that, if they have not had a credit card or borrowings before, this can count against them. The concern of the credit card company is simply that without a track record they do not know if you are likely repay what you owe.

Get your free Experian credit report online and see the information lenders see.

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So How Do I Get a Credit Card if I have Bad Credit?

Bad Credit - Credit Cards Image - Credit card machine Credit cards are available to many people who are concerned about their credit rating, the best thing to do is to consider some of the options available. This could be:

Cards from the following provider who have cards such as Vanquis Cards are targeted at people who have poor credit.
Prepaid cards – these are really debit cards rather than credit cards. They work rather like pay-as-you-go telephone cards. You put money onto the card and can top it up as necessary. You can use these cards without any risk of running up debts. Providers of these cards include Extreme Cred . For more information click on Prepaid Cards.

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Questions to Ask Credit Card Providers

If you are looking for a credit card when you have a poor credit history, questions to ask include:

What will the rate of interest be?
Is there a set up fee? Usually it is preferable not to pay a set up fee, but in some cases companies requiring a set up fee to be paid charge lower rates of interest than those who do not. You may save money overall.
What is the credit limit on the card?

What Next?

If you want to find out more information on credit cards which may be available to you, contact

Email: info@debt-money-loan.co.uk

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