If you’ve had a major financial setback, such as divorce, bankruptcy, loss of employment, or health related problems, your credit rating may suffer for it! You’re not alone. Millions of people over the past few years have lost their good credit ratings, too.
Unfortunately, a poor credit rating (650 or lower) will cost you more in interest charges, annual fees, etc., and you may find that you’ll need to start with a secured, or even prepaid, credit card. But, the good news is that you can still get a credit card, and you can use your credit card to start rebuilding your credit rating right now. Most, if not all, credit card merchants report monthly to the major credit bureaus, so, once you get your card, and start demonstrating responsible use and payments, you’ll find that your credit rating will begin to show improvement. So, even though it may cost more, your best bet with a poor credit rating is to get a credit card, and start improving your credit rating today.
Here are the most current credit card offers for poor credit: