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The application process for credit cards for bad credit is more "forgiving" than for regular credit cards.Credit cards for bad credit might be a good fit for you if: In general, a credit score below 630 (on a range of 300-850) is considered bad credit or poor credit.If you don't know your credit score, you can get it for free through Nerd Wallet. If you have a bad score, a credit card specifically designed for people in your situation is one of the best tools for rebuilding your credit.The term "bad credit" is commonly associated with mistakes, such as missing payments or having accounts turned over to collection agencies.Having bad credit limits your options for borrowing money: If you can get a loan at all, you’ll pay higher interest. Even though they’re not designed as such, credit scores have come to be interpreted as a general measure of reliability.
Below are our recommendations for the best credit cards for bad credit, followed by some resources for those with bad credit and some cards we suggest you avoid.Pros Credit cards for people with bad credit tend to have very high interest rates — often 25% or more.The Green Dot primor® Visa® Gold Secured Credit Card, however, offers a rate lower than what you'll find on many products for people with good or excellent credit: The ongoing APR is 9.99%. The card allows for credit lines as large as ,000, assuming you have the cash to deposit.When you apply for a regular credit card, you're essentially asking the card issuer to lend you money without any guarantee (besides your promise) that you'll pay it back.Unlike with a mortgage or car loan, there's no collateral backing up the deal.