If you have a low credit score, whether it’s because you don’t have any credit yet, or because you have had credit problems in the past, you might find getting a credit card challenging. However, this doesn’t mean your situation is hopeless. There are a number of different types of cards for your situation that you may qualify for even with a low credit score. Some of your credit card options include the following:
These types of cards are the most popular for people starting out and those who have bad credit. Most secured cards require a security deposit that the bank or credit card issuer holds while you use your credit card. You typically get a credit card with a limit in the amount of your security deposit. Over time, as you make your payments on the card, you can build a better credit rating.
Store credit cards are often easier to qualify for if you have a low credit score. Although you can usually only use store cards for purchases with a particular retailer, it does give you an opportunity to build a better credit rating.
Like store cards, it’s often easier to qualify for a gas card. The good thing is that most of the time you also get valuable rewards and benefits with the card, that can help cut your expenses.
Credit One Bank automatically monitors every account for credit line increase opportunities each month. We'll let you know as soon as you're eligible for a higher credit line. A fee may apply.
See if you Pre-Qualify without harming your credit score. Find the card that's right for you in less than 60 seconds.
Eligible purchases will automatically get you 1% cash back, terms apply.
There are also unsecured credit cards available for those with fair or average credit, which can be considered a low credit rating. Many times, these cards carry higher fees and higher interest rates, but you can use them until you have a higher credit score and can qualify for better credit cards.