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How to build your credit with bad credit credit cards

Many people can find themselves in the unsavoury position of having negative history on their credit report; from those that have been irresponsible in their youth, to those that have lost their jobs and defaulted upon numerous credit agreements, a bad credit history can affect anyone.

In this guide we look at some of the bad credit, credit cards that you can benefit someone in this position.

Bad credit, credit cards – A bit of a misnomer?

In many respects bad credit, credit cards are a bit of a misnomer; whilst there are some credit cards for poor credit, there are none for those with a credit history that is significantly bad. In such an instance a person would need to use a pre-paid credit builder card.

Credit cards for poor credit

The following cards are perfect for those with poor credit:

Aqua classic

The Aqua Classic credit card provides a credit limit of between £100 and £1600; following the initial approval, you will undergo a trial period of four months, after which your credit limit may increase. A significant benefit of the Aqua Classic credit card is that you are given access to your credit report for free for an entire year.

Capital One - Classic Platinum

The Capital One- Classic Platinum credit card provides credit limits of between £200 to £1500, which is reviewed every year. To be accepted you must have operated a credit card account before, and you must not have been bankrupt within the last 12 months.

It is important to remember that you must manage your credit card account appropriately if you are to rebuild your credit and avoid further financial troubles.

Credit builder, prepaid cards

Credit building prepaid cards are cards that work much like a phone top up. You simply go online to top up the card from another cash account and use it in the same way you would a bank card. The way that they build up your credit history is through a monthly payment (usually of around £5); at the end of a 12 month term the credit building company will leave a record of a successfully repaid loan.

Cashplus prepaid MasterCard (Activeplus)

The Cashplus prepaid MasterCard (Activeplus) credit builder card provides free transactions, has an initial card fee of £4.95 and charges £2 for ATM withdrawals.

Cashplus prepaid MasterCard (Deluxe)

The Cashplus prepaid MasterCard (Deluxe) credit builder card charges an initial fee of £9.95 and £9.95 monthly after that; it offers free transactions and ATM withdrawals.

For some, they may be able to use a poor credit, credit card, this option is preferable to a credit builder as, if ran correctly, it can make more of a positive impact upon a credit history. However for some this option may not be available, in which a credit building, pre-paid card can certainly help those with a bad credit history.

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