If you have a less than perfect credit history with several missed or late payments, or have CCJs against your name or even been declared bankrupt, then getting a credit card may be difficult. This can be frustrating as it not only denies you the convenience of having a credit card but also means you don’t have use of the card as a tool to help rebuild your credit status.Many providers claim to offer “unsecured credit cards” for those with a bad credit history.
Unsecured credit cards are generally issued to people with a good credit history and good credit score who have demonstrated the ability over time to manage their borrowing and debts responsibly and have repaid any money owed on time. Credit cards for bad credit history customers are “unsecured” in the sense that they do not require you to deposit any form of cash guarantee or put up any assets against the future debt.
These “unsecured credit cards” are usually just another name for the various poor credit credit cards available from many providers.These credit cards are only issued after the provider has checked your credit history and while you are not guaranteed to be accepted, they are the best hope you have if your credit score is bad. If your bad credit history is quite old (say at least 18 months ago) and you’ve been keeping things under control since, it might be worth applying for these adverse credit cards.
Credit limits for these cards will normally be quite low, at least to begin with, and the interest rate high (usually between 25% and 40%) as the credit card issuer is taking a greater risk by taking you on. However, these unsecured credit cards will help you rebuild and repair your credit file provided you conduct the account on a responsible basis by making payments regularly and on time.
