There always seem to be a number of attractive and available credit card deals around, no matter when you look.
However, if you have a poor or bad financial history, you need to look here instead.
Credit card deals with poor ratings
The good news is some issuers offer a flexible assessment procedure allowing them to consider all applications fairly whatever the history of the applicant.
Ultimately, the likelihood of being able to get a new card depends on your personal individual situation and if the lender perceives you to be too great a threat.
The available credit card deals are targeted at helping people rebuild and strengthen their credit history. Vanquis Bank offers a facility of between 200 and 1,500 with no yearly fee. The first annual percentage rate (APR) is high, but might be reduced once you develop a steady payment record.
Credit Card Deals with soft search
There are only a small number of lenders ready to accept people with just a couple of card types, so if you have bad credit, then have a look at what is on offer here.
If you have a poor history, then you need to find card companies that will only carry out a soft search.
What is a soft credit search?
Funny enough, we thought you might ask that!
A soft search is when the card company employees all put on soft clothes and gloves before they carry out your credit check. No?
No. Being serious; a soft credit search is when the company carry out a limited search to confirm if you are who you say you are, you live at the address you say you live at and other things like your date of birth to make sure they are dealing with the right person.
They do not need to do a full “hard” search on you to see if you missed a payment 6 years ago! They are quite happy to see if you can afford the repayments and overdraft limit today which is a much better and fairer system to use.
This is ideal if you have adverse or poor records in your history, so just click on the links to get started, like 2500 Credit Card Spending Limit For Immediate Use.
It’s a good thing to be given a second chance in life and rebuilding your history is no different, with rebuilding credit cards.
Many people now have a bad history through no fault of their own, due to the credit crunch.
Try rebuilding your history with Rebuilding Credit Cards
We have listed below some cards that allow some bad credit that might interest you and help you.
The Choice Freedom Credit Card
The Choice Freedom card has an initial limit of £500, even if you have poor or bad credit. Learn a bit more about the Choice Freedom card before you apply.
Previous Financial Issues Will Not Keep You From Getting Approved!
The Choice Freedom Gold Card is the UK’s premier catalogue card providing you with access to a 500 credit line, great consumer products and a suite of exceptional benefits.
The right card for customers with less than ideal score that would like to rebuild their credit or those that need a place to start out.
0.00% APR Representative for ever!
You can rest assured that you will never pay interest together with the Choice Freedom Gold Card!
Stay within your limit, make your payment by the due date and you may improve your total rating as well!
£500.00 Credit Limit Guaranteed
Take advantage of your cash to shop on line. Nice.
Bad credit is a common issue – you’re not on your own!
Numerous people use charge cards.
Yet, following the downturn and the credit crunch, more and more individuals are finding it almost impossible to pay their invoices and wind up with a poor credit history.
Determining who has poor credit
When you make an application for credit, other lenders as well as finance companies need to know who they are lending their money to.
These lenders assess your credit file and your rating, which can be chosen from credit reference agencies like Experian and Equifax, who are able to obtain your financial history.
This assessment helps lenders create what’s called a credit score which is centred on things such as your income, amount of debt, how you have handled your previous finances (including charge cards, loans or mobile phone contracts, etc.).
It also takes into account other information, like if you’re on the Electoral Roll or how long you have been with your bank.
The financial institution uses the score rating to decide whether you meet the requirements for credit with them and if so, what your spending limit and interest rates could be.
Poor credit credit cards
Poor credit doesn’t mean you can’t have a credit card. This is where poor credit cards come in. They’ve been particularly designed for people with bad credit ratings and generally have limits that are manageable.
These cards can help you to improve your credit history and ultimately your credit score.
It may be inviting to rebuild your bad credit by trying to get lots of charge cards and using them. However, every single time you apply and are rejected to get a new card, it has a negative effect on your own credit score.
Work with a credit agency like Equifax or Experian to get your credit history and check the information is correct. Aside from more general blunders, anyone can be affected by identity theft – so be sure to look at all the details sitting on your history.
Then you certainly will understand what your rating is and for those who have poor credit, can set about rebuilding it with rebuilding credit cards.
Credit ratings can be made better
By constantly paying at least the minimum payment every month, using credit cards regularly and staying within your credit limit, credit cards could work to create a better history. You will rebuild your own credit score and turn poor credit into a more positive rating.
By getting credit, staying within the limitation and never missing any payments, it is possible to create an excellent history.
Why you must understand should you and your score have bad credit
It is vital that you be conscious of your credit score – whether it’s bad or good.
That way, you are able to take measures to enhance it so that, should you desire loan or a mortgage, you are able to be more confident through the application process.
We hope this article on credit card deals has been helpful and allowed you to get a new credit card of your choice.
See also Credit Card Guaranteed Acceptance.