Credit Cards for Bad Credit
Finding a credit card for bad credit can be difficult. Bad credit cards often come with high fees and interest rates which can cost you hundreds of thousands of dollars over the life of the card. At Credit Karma, we review all of the credit cards for bad credit and make recommendations based on the fees, customer service, and user feedback. From guaranteed approval to secured cards, we have reviews and recommendations for each credit card type for bad credit. Search All Credit Cards
Featured Cards by Credit Score
Updated: 11/1/2009
POOR CREDIT SCORE OF 549 OR LOWER
With poor credit, your options for credit cards are somewhat limited. Most companies won't provide a credit line without a deposit and virtually all credit cards are going to charge monthly fees. However some of these cards will offer guaranteed approval and are the best ways to start rebuilding your credit. You may build, rebuild, or reestablish your credit history by making on time monthly minimum payments to all of your creditors and maintaining your balances below credit limits. Of these pre-paid and secured cards, these are the 2 best options for bad credit:
Best Secured Credit Card
Public Savings Bank Secured Visa
- 0% APR for purchases for 6 months
- No annual fee. Just a one time fee of $79
- No credit, income or employment requirements
- Reports to all 3 national credit bureaus
- 25 day grace period
Why we recommend it...
Getting a credit card with poor credit can be next to impossible in this economic environment. Virtually all credit card companies have increased their credit score requirements to hedge against defaults in this poor economy. For people with poor credit, the only options are pre-paid or secured credit cards. The bad thing about pre-paid cards is that they don't help build your credit since they don't report to the credit bureaus.
When it comes to secured credit cards, the Public Savings Bank Secured Visa looks like a great option. It has a low one time of fee of $79 with no annual fee. It also boast a credit limit based on your deposit up to $25,000. This is a great way to rebuild your credit while gaining the benefits of a credit card.
Pros:
- No Annual Fee
- Builds Credit History
- Convenience of a Visa
Cons:
- Requires a Deposit
Credit Score Approval Data †
Average Credit Score Approved for this Card
Lowest Credit Score Approved for this Card
Most Flexible Credit Card
Orchard Bank Classic MasterCards
- Acceptance at millions of locations worldwide, including website purchases and reservations
- Your account information is updated and at your fingertips 24/7 so you can manage it your way
- Email and text messages to remind you of your upcoming payment due date with online enrollment
- On-call customer service representatives to assist you with questions or concerns
Why we recommend it...
The Orchard Bank Secured MasterCard is consistently the highest rated secured credit card by Credit Karma users. The Orchard Bank secured credit card has no processing fee and the annual fee is waived the first year. It has been reported that Orchard Bank has good customer service. Members have also reported healthy credit limit increases and upgrades to unsecured cards with responsible payment history.
It is important to note that Orchard Bank does have a unique application process. When you apply, Orchard Bank will perform a soft credit inquiry (does not lower credit score) to determine the best product for you. If you have strong credit, they will provide an unsecured card. The secured MasterCard has an APR of 7.9%, an annual fee of $35 that is waived the first year, and no processing fee for people with poor or no credit. The minimum security deposit is $200.
Pros:
- No Processing Fee, Annual Fee Waived Year One
- Low Interest Rate
- Convenience of MasterCard®
- Helps Build Credit
Cons:
- Requires $200 Minimum Security Deposit
Credit Score Approval Data †
Average Credit Score Approved for this Card
Lowest Credit Score Approved for this Card
* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on Provider's website.
† Credit Karma members have received approvals with these credit scores. We hope this information helps you in your selection. Please note because factors including income, length of credit history, and employment status can affect credit card approval, these are only guidelines and approval is not guaranteed.
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