Finding credit cards with poor credit might seem impossible, but the truth is that just about anyone is entitled to a credit card – no matter what your financial history. If you have a poor credit score, or even no credit history at all, finding a credit card from traditional card issuers can be a difficult task, so it may be wise to start looking for a cards designed specifically with your situation in mind.

Prepaid Cards

Prepaid credit cards are a great option for people with bad credit. This is available to anyone due to the fact it does not loan you money, rather you pay money into your account upfront which is deducted each time you make a purchase. There is no overdraft, and no interest charged.

Bad Credit Cards

There are credit cards offered by the financial institutions especially for those with poor credit. Often these will come with a high interest rate. Whilst this is not ideal, it can actually help you to be stricter with yourself when making monthly repayments, and once you have built up your credit score you can then choose a better deal.

Low Balance Cards

Most credit cards with poor credit will also have a low balance option. This means you won’t be able to spend much money each month, but it gives you the chance to build your credit rating and eventually increase your limit in the future. In some cases this will be the required option you as as the lender assesses your risk. Once you have proven yourself as someone who is reliable your interest payments will decrease.

Why do you use credit cards? If you can’t answer this question you are not alone. But before you think this is alright, you need to reconsider. You should definitely determine why you use credit cards on a regular basis, as well as what this can do for you. Contrary to popular belief, there is nothing wrong with using a credit card. As long as you are responsible and you know what you are doing, you will be able to avoid trouble while taking advantage of benefits.

Here are several reasons why we use credit cards:

1. This is a great way to build credit in a responsible manner. You want to start building credit at a young age so you can begin to make big purchases as you get older. If you build your credit through the use of a credit card you will see your score increasing as the months go by.

2. A credit card is a great thing to have for emergencies. Sure, cash comes in handy, but a credit card is perfect if you need to spend a lot of money in a hurry. For instance, if your car breaks down and you need to have it repaired at once a credit card is your best bet.

3. With credit cards you can earn rewards for the money you spend. Some credit cards allow you to earn points which can be redeemed for everything from travel perks to home goods and much more.

4. If used properly, your credit card is safe and secure. To go along with this, when you use a credit card you can add an extra layer of protection between you and the seller. In today’s day and age this is an important benefit.

5. Most credit cards are accepted worldwide. This means that you don’t have to worry about carrying cash no matter what country you are visiting. Talk about convenience!

As you can see, there are many reasons to use credit cards. Even if you are against plastic for most purchase, there are benefits of carrying a credit card in your wallet. Check out the five reasons above. It is safe to say that you can identify with one or most of them.

Most likely you’ve seen some great offers, especially recently, for zero percent credit cards. Some credit cards won’t charge you any interest on the purchases you make with the card. Other cards offer you a 0% payment on the balances you transfer to them. But the question is – is a zero percent credit card really a good deal?

To put it simply – it can be a good deal, if you follow all the rules. Like all business out there, the card-issuing companies also need to make money. They make their money by attaching hidden strings to these great deals. So as you look at zero percent cards, you’ll need to watch out for these things:

- Limited-time offers: Most zero percent cards offer 0% interest only for the first few months. After the predetermined time has passed, the rate will skyrocket, and probably right when you’ve just started to get a somewhat large balance on your card. Offering zero percent does cost the issuing company a bit, but that’s nothing in comparison to how much they’ll make after the interest rate rises and you have to pay plenty of extra money in interest.

- Required transactions: You might be required to make a minimum number of purchases each month just to qualify for the 0% rate. That means two things: if you don’t make the minimum number of purchases, your rate will go up. And, by making more purchases, you’ll probably have a higher balance once the 0% rate expires.

- Penalty rates: Often if you make even a single late payment, charge beyond your credit limit, or bounce a payment check, your interest rate might skyrocket to 20% or more.

- Higher-rate balances don’t pay off as fast: Most cards apply payments to the lowest-rate part of your balance first. So, if you transferred your balance at 0%, but your purchases were made at a higher rate, your payments will first be applied to the 0% part of the balance as the higher-rate balance continues to build.

If you are currently experiencing credit problems, you might think that there is no way out. There are several ways to repair your credit and one of them includes using a credit card. Those with bad credit histories can still get credit cards from some particular organizations that specialize in giving credit to those who are in debt. These cards are referred to as secured credit cards. Getting these cards is easy no matter how bad the credit history.

A secured card works like the regular cards but the only difference is that you will be required to put in a deposit against the card’s limit. This is the money the lender will use as security if you default on your payments.

The secured credit card will help you with your credit repair when you prove that you are able to make regular payments on the card. It is important to ensure that the credit card company that you get the card from reports to all the 3 credit agencies so that the payments you make are reflected on all the reports and credit scores. This is one of the ways you can prove to future lenders that you have a good payment history.

Once you get approval for the card, it is important to keep in mind that you are going to use the card for credit repair by building a positive credit history. This means that you should not use the secured card to acquire debt. The card should only be used for making small purchases that can be easily paid off at the end of the month. If there is a purchase that you cannot afford to pay for, avoid charging it to your account.

Most of the credit companies will give you a regular card once you have made regular payments on your secured credit card for a period of 1-3 years. The regular payments will act as evidence that you have actually turned your financial situation around which gives you the opportunity to get a regular card that does not require a deposit and also help with your credit repair.

Chase credit cards come in a variety of styles and with a variety of benefits.

If you’re looking for a credit card company that offers a wide variety of services and premier cards, Chase Manhattan bank is the company for you. Chase offers many services, including lending, insurance and credit cards. Chase credit cards are some of the most popular, as they offer cards to fit every personality.

Among Chase credit cards are ones for travelers which offer travel rewards and auto and gas rebates as well as cards for shoppers which reward the shopper with discounts at their favorite stores. The wide variety of Chase rewards cards let’s you decide how you’ll be rewarded including cash back, points and even cards that support specific charitable organizations.

In addition to the credit cards with rewards, Chase offers cards for more specific needs. Students can appreciate the Chase credit cards specifically designed for them with special student benefits and the option of having your school’s name on your card. Chase also offers credit cards specifically for school alumni, with school designs and colors as well as a way to benefit your former school with the use of your card.

Whether you want a card for your business or a card with great personal rewards, considering filling out an application for a Chase credit card. You can apply online, or by mail. When you apply for a credit card with Chase Manhattan bank, you’re getting a card that fits your needs perfectly.

If the business does not meet these criteria, the business credit card issuers will use the credit history of the principal making the business credit card application as their basis for evaluating credit risk.

Do note that most business credit card issuers will not approve your application for a business credit card unless you agree to the personal liability provision. This essentially makes a business credit card the same as a personal credit card from a personal liability point of view. Hence, whenever your business fails to repay the business credit cards, the issuer may invoke the personal liability agreement in order to collect payment from the business credit card principal.

Because of this personal liability provision on your business credit card application, your personal credit reports will also contain a record of your business credit card history. You will therefore damage your personal credit score if you make late payments on your business credit cards. If your business accumulates a big debt, it will inflate your personal debt burden and cause you to appear overextended.

The personal liability agreement, however, is not always cast in concrete. If you can show that you diligently make your regular payments, you should be able to convince the issuer of business credit cards to remove the provision after a few years. It would really be up to the issuers whether they decide to grant you your request or not. Nonetheless, you could always try to negotiate with them. Whatever the case may be, endeavor to have the business establish its own credit history. This will eventually allow you to separate your small business credit card from your personal credit records.

You must be aware that since business credit cards are not intended to be used by consumers, the consumer protections applicable to personal credit card are not necessarily present in business credit cards. When making use of personal credit cards, the law grants you the right to dispute billing errors on your account within the specified period of time. Within this period, the card issuer cannot mark the disputed amount delinquent or cancel the card. This particular right of the consumer is not applicable to the holders of business credit cards.

When you receive ordered merchandise in poor condition, you cannot dispute the charges and in case the vendor refuses to cooperate, request the business credit card company to intervene on your behalf – as they do in the case of personal credit cards. With business credit cards, you are largely on your own.

So, should you carry a small business credit card rather than a personal credit card? The answer is: Yes. Once your business has established its track record, you can separate personal and business finances. That will work well – both for you and your business.