When you have a less than stellar credit rating, chances are high that you will have a hard time applying for new credit. In fact, you may get rejected a number of times because with bad credit under your belt, you are now tagged a high risk borrower. Because of these struggles, most people just stop trying. You might get tempted to do the same but don’t. It will be harder to improve your currently dire credit rating situation without a new credit to give you a chance to improve.
Rather than lose sleep and time actively trying to apply for standard and traditional credits, there’s a much easier way to get approved for a credit card even with bad credit. Apply for bad credit cards. There are made especially for people with bad credit hence easy to avail. But there’s just one hitch. Bad credit credit cards come with heftier interest rates and charges. If you’re going this route, remember to use it with care and with the main goal of improving your credit rating.
Below are some of the most competitive bad credit credit cards available for UK consumers:
Aqua Classic 29
This option offers a credit limit between £250 and £1,200 and may increase after four months if you’re a good payer. This is a great option if you want to rebuild your credit rating. You also get a free access to your credit report. Just remember that the APR will largely depend on your financial circumstances.
Marbles Classic 29.7
Marbles Classic 29.7 offers a similar credit limit as Aqua Classic 29, which is between £250 and £1,200 for a start. It includes perks such as tracking online transactions and receiving text alerts once you’re close to your credit limit. Unfortunately, it’s not for people with a history of CCJs in the last 12 months. APR is also dependent on your financial circumstances.
Capital One Classic Platinum
This is another bad credit credit card you can use to improve your current rating. It doesn’t matter if you’ve had credit problems in the past. You can avail of the card’s offered credit limit starting from £200 up to £1,500. To be eligible for the card, you must have no declared bankruptcy record in the past 12 months and you should have
Aquis Visa Card
If you want a larger credit limit, Aquis Visa Card is a good option to look into. The card offers up to £3,500 credit limit but subject to approval. Once approved for the card, you can start rebuilding your credit rating by staying below the limit and paying your dues on time. You get free SMS and online account management as part of the card’s features. Just like the other cards, APR is largely depending on your personal circumstances.
With Barclaycard’s credit card offer, you get to earn a £40 cashback paid in £10 per three months if you maintain good consumer behaviour. Another perk you get to avail is the reducing interest rate over the months provided that you always pay your dues on or before time. You’ll also need to stay within or preferably below your credit limit. The card is suited With Barclaycard’s credit card offer, you get to earn a £40 cashback paid in £10 per three months if you maintain good consumer behaviour. Another perk you get to avail is the reducing interest rate over the months provided that you always pay your dues on or before time. You’ll also need to stay within or preferably below your credit limit. The card is suited
Aqua Reward is another great option if you want to earn cash back. The card offers 0.5% cash back on all purchases and a credit limit of up to £1,200. To be eligible for the card, you must not have a CCJ on record in the last 12 months.