Credit Cards for Bad Credit: Top Cards to Rebuild Credit Scores

There is a myriad of reasons why you may be looking to become an owner of a credit card, including reconsolidating your budget or covering upcoming expenses. With this in mind, getting your application rejected can be quite stressful.

In most cases, applications are rejected because of your bad credit score, as most US banks are looking for a score above 670. If this is your scenario, your best bet is to go ahead and rebuild your score using a so-called “bad credit card”.

ADVERTISING

We have prepared a list of the top credit cards for this purpose, as well as a couple of tips on how to avoid getting rejected. Let’s get to it!

Credit Cards for Bad Credit: Top Cards to Rebuild Credit Scores
Photo credit: reproduction/Internet

Important Tips To Increase Your Approval Chances

Before we get to the best options for those with an infamous credit history, there are a couple of rules that you should agree to.

The first one is that you shouldn’t immediately apply for another credit card if you just got rejected for one. This can mess up your chances in the long run, and that certainly isn’t something you are looking for.

ADVERTISING

The most important tip is that, once you get approved for some of the below-mentioned credit cards, you should do your best to repay the minimum balance (or pay it back in full) on a monthly basis. By doing this, your chances of improving your credit score will skyrocket. 

Lastly, you should avoid withdrawing cash through these cards because it is a common sign to the bank that you are having a difficult time consolidating your budget.

Credit Card #1: Capital One Classic Complete

When it comes to credit cards that are easier to get approved for, the Capital One Classic Complete stands as a reliable option. The main reason why we consider it fit is that as long as your CCJs, defaults, and bankruptcies are older than a year, you can still get approved. The APR is set at 34.9%, but let’s not forget that you are going to have an interest-free spending period for the first four months.

As long as you repay what you have spent before this period ends, you will be improving your credit score. You will be able to continue this improvement by making at least a monthly minimum payment (3% of the balance plus interest plus interest).

Another fantastic feature of the Classic Complete is that you can request up to two credit limit increases on an annual basis. The best thing about it is that the application process is simple and done through an online inquiry.

Credit Cards for Bad Credit: Top Cards to Rebuild Credit Scores
Photo credit: reproduction/Internet

In terms of how to contact Capital One if you have any questions, there are a few methods.

  • Physical Address: Capital One (Europe) plc, Trent House, Station Street, Nottingham, NG2 3HX
  • Postal Address: Capital One Card Services, P.O. Box 5283, Nottingham, NG2 9HD
  • Phone Number: 0344 481 4814; Monday to Friday from 7 am to 9 pm, Saturday from 8 am to 5 pm, Sunday from 8 am to 5 pm

Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.

Credit Card #2: Barclay Forward

The second card on our list is the Barclay Forward card, which offers a personalized limit between 50 and 1200 GBP. As long as you make regular payments for the first year, you will be able to get a 2-3% interest reduction. As for the APR, it is set at 33.9%, but once again, you are looking at a zero-interest period for the first three months.

When it comes to CCJs, these are allowed as long as there has been just one in the past six years. Also, as long as you haven’t gone bankrupt in the last 6 years, you can still get approved. 

For the minimum monthly payment, this Barclay card will take the greatest between 1% of the balance plus interest, 2.5% of the balance sum, or 5 GBP. Much like with the Capital One credit card, applying for this one shouldn’t take more than a few minutes.

Credit Cards for Bad Credit: Top Cards to Rebuild Credit Scores
Photo credit: reproduction/Internet

There are a couple of contact forms if you have any further questions regarding this credit card or opening an account at Barclay Bank.

  • Physical Address: 1 Churchill Palace, London E14 5HP
  • Phone Number: 0800 151 0900; every Monday to Friday from 8 am to 8 pm; Weekends from 8 am to 6 pm

Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.

Summary

Rebuilding your credit score doesn’t have to be that hard if you make the best decisions regarding what card to apply for.

We did our best to supply you with a few of the most relevant options – it is your turn to show the bank that you can be an abiding credit card user. Good luck!

ADVERTISING