Bad Credit
What You Should Know About Bad Credit Credit Cards 
Getting an approval for a credit card when you have bad credit can be extremely challenging. Though most top-tier financial institutions refuse to give credit cards to people in such situations there are a few that are willing to offer credit cards. To apply for the card, called bad credit credit card, you will have to provide the company your financial information by way of an online application.
Most of the features offered with bad credit credit cards are the same as that of standard credit cards. The difference is in the interest rate, which is generally higher on a bad credit credit card. Companies also provide different types of credit cards to those with bad credit, two of which are secure credit cards and joint credit cards.
Do you have Bad Credit?
First, you need to find out your credit score which determines what kind of credit you have. When you are reviewing a credit score where the range runs from 300 – 850, you can generally assume the following:
Great Credit: 760 – 850
Good Credit: 680 – 760
Fair Credit: 620 – 680
Bad Credit: Below 620
There are several reasons you can fall into the “bad credit” category:
- You don’t make timely payments
- You have an account in collections
- You have declared bankruptcy or you are going through foreclosure
These faults can make you a risky candidate to get an approval for credit cards or loans.
It is also likely that you do not have any credit history at all. In either case, responsible use of credit cards can help you build or boost your credit score. If you manage to make all payments on time and keep the credit card balance low, your credit card score will rise with time. Subsequently, you will have access to better credit card offers and loans.
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