Unpredictable annual fee (based on creditworthiness).Let’s take a closer look at our top five picks and two other possibilities. 5 Best Unsecured Credit Cards for Bad Credit Use it only when you need to, pay your bills in full and on time every month (so you don’t have to pay interest), and move to a card with lower fees as soon as your credit allows it. ⚠️ If you use one of these cards, you will probably want to treat it as a temporary credit building tool. Many have both annual and monthly fees, adding up to a hefty cost. These credit cards have more lenient approval criteria, making it easier for people with damaged credit to qualify. They also tend to have high fees and high interest rates. In this case, an unsecured credit card for bad credit may be your only option if you don’t want to pay a security deposit. Most credit card issuers are reluctant to approve applicants that fall within those ranges. For example, Vantage considers a credit score between 500 and 600 poor, while FICO considers a score between 300 and 570 very poor. □ Typically, a “bad” or poor credit score is anything under the 600 range. The difference is that it’s specifically designed for people with bad credit. What Is an Unsecured Credit Card for Bad Credit?Īn unsecured credit card for bad credit is a regular credit card, meaning it has the same features and works the same way as any other traditional, unsecured credit card.
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