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Articles » Low Credit Score Loans | | Where Can I Get A Credit Card If I Have A Low Credit Score? |
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Having a low credit score doesn’t mean that you can’t get credit from anywhere. It just means you have to be a little more creative and you’ll probably pay higher interest rates. You can begin by going online and putting the words “low credit score credit card” into your search box. You will get a list of companies that offer major credit cards to those with low credit scores. Some of the more popular ones are First Premiere, Millennium, Continental and Orchard Bank. These are all banks and financial institutions that can provide you a MasterCard or Visa if you have a low credit score.
The problem with many of these is that they will charge you a high fee the moment they approve you. Some of these cards will come with a $250 limit that already has a $90 or $100 amount charged to it before you even receive the card. You can pay the minimum monthly fee on the card if you like, but you’ll be paying interest on a fee without having made a purchase. The upside is that all of these agencies report to the three major credit bureaus so you can improve your credit score if you pay them off each month.
Another and usually better option for people with low credit scores that want a major credit card is a pre-paid or secured credit card from your local bank or credit union. You can usually get these by making a savings deposit and allowing the bank to hold it for a period of time while you establish a credit history. Most banks have this type of program available for amounts ranging from $250 up to $10,000. These can be a great way to build or repair credit and won’t present a financial risk to your bank or credit union.
Another way to get a credit card is to apply for a personal or consolidation loan from your bank and pay off any existing debt that is keeping your credit score low. Check into this option before you apply for low credit score credit cards with high interest rates. You may find that raising your credit score is as simple as paying off a few old debts and getting yourself back on track.
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