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Do You Have Bad Credit ? Another Option is Here

Getting a credit card is immensely difficult if you have bad credit. You have huge limits on your card, or can’t get one at all. Not all of us deserve the bad credit we have, and still want a credit card for things like shopping or traveling. There are options for those of us who have bad credit, however. We can get prepaid cards, or secured cards.

Which card do you want though? There are a lot of different things with each card, so we have the different perks of each card below.

Controlled Spending:

With each card you’re going to have some form of controlled spending. This means that your spending isn’t going to go overboard. If you’re using a secured card, you need to actually place the funds in your account before you can use it. This helps you to build a credit line and increase your credit score slowly. Your card issuer will slowly raise this limit as you pay it off on time. As you can’t add a ton of money to your card, you won’t overspend.

Get Cash Fast:

Prepaid cards make it easy to withdraw your money from ATMs. You can simply use them like you typically would and get cash. This is great if you’re late on paying back your rent, or just need some money in cash form, not card form.

Building Your Credit Back Up

As with any credit card, as long as your credit is paid off in due time, you won’t pay any fees. Make sure you pay back your cards on time, and you won’t have your credit score lowered. In fact, you’ll increase it. By using these cards time after time, you’re going to see your score go up. Having a higher credit score is going to help you later in life. Whether you’re buying a home or a car, it’s going to make the entire process a lot easier. Be sure to use a credit card to build your credit back up, but don’t overuse it or forget to pay!