Applying For A Credit Card With A Bad Credit Rating

You may have trouble getting approved for a credit card if you have a low credit rating. While you may not get a card because of your poor credit history, you should be able to get it. A credit score represents your creditworthiness numerically: the higher the score, the greater your chances of approval for credit cards and loans.

Here are some tips to help your application get approved:

Avoid applying for more than one card at a time

Your credit rating will be affected every time you apply for a credit card. Lenders don’t like it when you apply for too many cards at once.

Check your credit report regularly

Once a year, Experian, Equifax, and TransUnion will each give you your credit reports, which will help you stay on top of your credit. When you apply for a credit card, make sure all the information on the report is accurate, because any errors that have not been corrected could delay or prevent your approval. As soon as you spot an error, file a dispute with the credit reporting company.

Choose credit cards based on your credit score

Apply for cards with a score that matches your current score and build from there.


Make sure your bills are paid on time

You should try to pay your bills on time to demonstrate that you have a good track record. Your lender will see that you are able to make your credit card payments.

Get a secured credit card to build your credit history

If you default on your payments, a secured credit card will serve as collateral backed by a cash deposit. Lenders are protected by this collateral. As with any credit card, secured credit cards can be used in the same way. A secured credit card will help you establish a credit history and improve your credit scores over time.

Co-sign with someone you trust

In the event that you are unable to make payments, you will have someone else responsible for your debt. If your co-signer has a history of good credit, you are more likely to be approved.

Contact your bank or credit union to start the process

A credit card application at a bank or credit union where you have a checking or savings account is more likely to be approved.

You should make sure you stay on top of your payments after you are approved for a credit card and avoid spending more than you can afford.