We are dedicated to giving you the information you need to understand how you can get a credit card with bad credit
Bad credit and credit cards - it is possible!
If you have bad credit, the chances are that any credit card you’re approved for will have a low limit with high APR rates. This is because you are viewed as being risky to lenders. Why could you have bad credit?
You have no credit history Credit history makes up 30% of your credit score according to Experian. If you have no credit history your credit score will likely be lower.
You have a high credit utilisation rate Using a lot of your available credit is a sign to lenders you either can’t manage money or are in financial distress. This will cause your credit score to drop.
You have a CCJ or an IVA
ACCJor an IVA will impact your credit score. The impact decreases over time and there are tools you can use to improve your credit score a few months after the CCJ or IVA has been issued.
You have applied for credit too many times in a short space of time
Applying for credit multiple times in a short time-frame will signal to lenders you are in financial difficulty which will cause your credit score to drop.