Credit Cards For Bad Credit - What Are My Options?

What is bad credit?  Well, there are many factors that can cause someone to have bad credit.  If you have been over 30 days late on loan, credit card,  or mortgage payments, if you have unpaid medical bills, or if you have legal judgments against you such as child support or other lawsuits, you may have "bad credit".  There are many of us who have been unable to keep up with our monthly bills and have fallen from having good credit to having bad credit in the last 12-24 months.

You may be thinking there are no credit card options for someone with bad credit.  That is not true.  Access to a credit card is almost required in this technology-based age we live in.  This increasing need for consumers to make credit card purchases creates the demand for more and more credit cards for bad credit.

There are three types of credit cards that are available for people with bad credit.  The first type is called a prepaid credit card. With a prepaid card, you get out of it exactly what you put in. Similar to a checking account, you deposit a certain amount of money into an account and this is your spending limit.   When your prepaid credit card balance reaches $0, you can "recharge" it by depositing more money into your account.  Prepaid credit cards are great for budgeting, online purchases, and those that cannot obtain a conventional checking account.  Approval is usually guaranteed regardless of your credit score and there is no need to deal with the credit bureaus.

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