Although having bad credit doesn't totally rule out anyone from getting a credit card, the application process does get a bit competitive for individuals with low credit scores. There are so many banks with specific credit card solutions for people with bad credit. Besides offering convenience and security in everyday purchases, they rebuild your credit over time.We will introduce some banks’ solutions when applying for a credit card with bad credit.
Today, one would find that having a credit card is really quite a necessity. Be it online shopping or booking in a hotel, even some kind of emergency expense, a credit card is extremely useful. However, people who have bad credit face much greater problems when seeking a credit card. Fortunately, many banks have credit card options available for such bad credit holders. These credit cards will help you increase your credit score over time and provide you with a good tool to manage your daily expenses.
Solution: Chase Bank has secured credit card options where one applies by giving a deposit as their credit limit.
Chase Secured Credit Card: A person with bad or no credit history at all will find this option quite effective. This charge requires an initial security deposit, and your on-time payment will help improve your credit score over time. Application Steps:
1>.Visit the official Chase website, then search for the "Chase Secured Credit Card."
2>.Gather all your personal information, including your Social Security number and your income.
3>.Next, complete an online application form and send it in.Then, wait a few days until your acceptance.
Visit website:https://www.chase.com/
Solution: Bank of America will issue a BankAmericard® Secured Credit Card, aiming at people who hold bad credit or no credit at all.
BankAmericard® Secured Credit Card: This card calls for a minimum deposit that it will use to set your credit limit. Make on-time payments to help you build your credit score. Steps for Application:
1>.Visit the Bank of America official website and look for the BankAmericard® Secured Credit Card.
2>.Look for the online pre-qualification form and fill it out to check if you are qualified.
3>.In advance, prepare your personal info and deposit for submission.
4>.Wait for a few minutes until you get approved.
Visit website:https://www.bankofamerica.com/
Solution: Well, Citibank offers a secured credit card so that people with bad credit may rebuild theirs.
Citi® Secured Mastercard®: This no-annual-fee secured credit card will help to improve your credit score with on-time payments and a required deposit. Application Steps:
1>.Apply for a Citi® Secured Mastercard® on Citibank's website.
2>.Check if you are pre-qualified using Citibank's tool.
3>.Then get ready with your personal info and deposit; apply online.
4>.Within some days, you will be approved.
Visit website:https://www.citi.com/
Solution: Wells Fargo has options for a secured credit card for people with bad credit.
Wells Fargo Secured Credit Card: This is a collateralized credit card with a security deposit equal to your credit limit. Make on-time payments and watch your credit score improve. Steps to Apply:
1>.Log in to the official Wells Fargo website and visit their Wells Fargo Secured Credit Card page.
2>.Check to see if you're pre-qualified with the site's pre-qualification tool.
3>.Fill out personal information and deposit in advance.Then, allow them to approve .
Visit website:https://www.wellsfargo.com/
Product: American Express is the product of a secured credit card being offered to assist people with bad credit rebuild their credit. American Express Secured Credit Card Secured credit card with no annual fee. Report your payments on time to improve your credit score. How to apply:
1>.Log in to the website of American Express. Search for American Express Secured Credit Card.
2>.You do the pre-qualifying to determine if you are eligible.
3>.Now, submit your personal information and deposit.
4>.It usually takes a few minutes; most of the time, it's instant approval.Conclusion
Visit website:https://www.americanexpress.com/
Having bad credit does not mean you cannot get a credit card. You can gradually rebuild your credit with the right secured credit card and making timely payments. Options for secured credit cards through major banks are excellent choices, not just in helping improve your credit score, but also in financial convenience. Always, the thing is to use your credit card responsibly, making timely payments in order to improve your credit situation over time.