CREDIT CARDS FOR PEOPLE WITH A POOR CREDIT RATING

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Are you struggling to get credit or looking to rebuild your credit history? Those with a poor credit rating will struggle to get a standard credit card so what are your options? Today, there are a range of Poor Credit Rating Credit Cards available, even if you've had problems getting credit due to a poor credit history, bad credit rating, non-existent credit history, CCJs or bankruptcy. Some cards will even help you rebuild your credit rating. A better credit rating will benefit your future chances of borrowing and mean you will be able to borrow more with lower interest rates. The table below compares leading providers of credit cards for people with bad credit. With clear points on advantages and disadvantages, and information on typical representative APR, credit limits, ability to 'rebuild' your credit rating and other costs, rates and fees; it's a straight forward way to see exactly which bad credit, credit cards are right for you.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

CARD NAMEISSUER

ISSUER

Card Issuer

REPRESENTATIVE APR

REPRESENTATIVE APR

A Representative APR is a financial service concept in which interest rates quoted through advertising media is required to take into account all charges associated with a product, in addition to the interest rate

BALANCE TRANSFER RATE

BALANCE TRANSFER RATE

A credit card balance transfer is the transfer of the balance (the money) in a credit card account to an account held at another credit card company

BALANCE TRANSFER RATE

BALANCE TRANSFER RATE

The time period over which you can transfer your balance at a special rate

PURCHASE RATE

PURCHASE RATE

A purchase rate is the interest rate charged on regular purchases put on a credit card. It differs from a cash advance rate in that it is lower because banks and issuers view regular purchases as less risky

PURCHASE PERIOD

PURCHASE PERIOD

Period of time in which there is a special offer on the purchase rate

CREDIT LIMIT

CREDIT LIMIT

The limit of credit offered to you by the credit card provider

CREDIT REBUILD

CREDIT REBUILD

Will the card help rebuild credit rating

MORE INFO

Capital One Classic
Capital One Classic

Visa Card34.9%
Representative Example

Representative Example

Assuming a credit limit of £1,200 and an interest rate on purchases of 34.94% p.a. variable, you will receive a 34.9% APR representative variable.
Address: Capital One, Trent House, Station Street, Nottingham, NG2 3HX

34.94%Annual34.94%56 daysAsk On ApplicationYesCapital One Classic
Capital One's Poor Credit Rating Credit Card for those who have a weak credit rating, credit problems or no credit history. One of the 'credit cards for bad credit' that students and new migrants to the UK are also eligible for. This card will help you rebuild your credit. A number of choices of modernist designs. Up to £2,500 in spending power, though depending on your credit rating you will probably start lower. As long as you keep up with repayments, your limit will be increased. DETAIL INFORMATION >>Acceptance Criteria

Acceptance Criteria


Advantages

Advantages

Available for students, those with poor or no credit
8 choices of card design
Will strengthen your credit rating
Your limit will increase as you make your repayments


Disadvantages

Disadvantages

34.9% APR - though this is acceptable for poor credit rating card
Balance transfers are subject to prior approval

Capital One Classic Extra
Capital One Classic Extra

Visa Card34.9%
Representative Example

Representative Example

Assuming a credit limit of £1,200 and an interest rate on purchases of 34.94% p.a. variable, you will receive a 34.9% APR representative variable.

34.94%Until Repaid34.94%56 daysAsk On ApplicationYesCapital One Classic Extra
The Capital One Classic Extra can offer you more, including a 0.5% cashback on all your purchases. You can also earn a £10 annual bonus for paying on time each month. Paying on time helps build your credit rating and there is a credit limit from £200 to £1,500. You will also be pleased to know that there is not annual fee. For example, spending £50 on weekly groceries earns you £13 cashback after a year, and you could also get an annual bonus if you make your payments on time. Always read the terms and conditions carefully. DETAIL INFORMATION >>Acceptance Criteria

Acceptance Criteria

1. You're over 18
2.You have some history of managing your credit even if you have had CCJs or defaults in the past
3.You are on the electoral roll


Advantages

Advantages

1.0.5% cashback on all your purchases
2.Earn a £10 annual bonus for paying on time each month
3.Paying on time helps build your credit rating
4.Credit limit from £200 to £1,500
5.No annual fee


Disadvantages

Disadvantages

34.0% Representative APR is quite high.

Black Diamond Visa
Black Diamond Visa

Visa Card59.99%
Representative Example

Representative Example

Purchase annual interest rate 59.94% (variable)
Amount of credit £250 Representative
59.9% APR (variable).

NoUntil Repaid59.99%56 days£1,000.00YesBlack Diamond Visa
A great way to build your credit if you're new to credit or want to rebuild your credit.The Black Diamond Visa is a Visa credit card that has an initial credit limit from £150 to £1,000. With Black Diamond Visa you could get a credit limit increase on your fourth statement and further increases every four months up to £3,000. There are no annual or monthly fees with the Black Diamond Visa. You stay in control of your money with Black Diamond. Please make sure that you read the terms and conditions of this card thoroughly before you apply. DETAIL INFORMATION >>Acceptance Criteria

Acceptance Criteria

You must be over 18, a UK resident and have a landline phone number. We recommend you have your salary, banking and employment address details on hand to avoid any delays in applying.


Advantages

Advantages

1. No Annual Fee
2. A manageable credit limit assigned to help you stay in control
3. Up to 56 days interest free on purchases
4. Free additional cardholder
5. Free fraud monitoring to warn you of any suspicious activity on your account.
6. Chip & PIN technology for added security
7. Visa is widely accepted in the UK & abroad
8. Convenient for paying online & over the phone
9. Friendly & helpful UK customer service call centres


Disadvantages

Disadvantages

1. Initial credit limit from £150-£1,000
2. Late payment and overlimit fees

Vanquis Credit Card
Vanquis Credit Card

Visa Card39.9%
Representative Example

Representative Example

Assumed borrowing of £1,000; Representative 39.9% APR (variable); Standard interest rate for purchases: 39.94% p.a. (variable)
Address: Colonnade, Sunbridge Road, Bradford, West Yorkshire

39.9%Until Repaid0%56 days£1,000.00YesVanquis Credit Card
The Vanquis Poor Rating Rating Credit Card is designed for people with no credit history in the UK or who have previously had bad debt or have bad credit rating. Before you decide to purchase this poor credit credit card please make sure that you read the terms and conditions to ensure that you fully understand your financial obligations. If used wisely these poor credit rating cards can be extremely helpful but if payments are not made on time they could affect your credit rating negatively. DETAIL INFORMATION >>Acceptance Criteria

Acceptance Criteria

You must be over 18, a UK resident and have a landline phone number. They recommend you have your salary, banking and employment address details on hand to avoid any delays in applying.


Advantages

Advantages

1. No Annual Fee
2. A Credit Limit Assigned At A Fixed Amount To Help You Stay In Control
3. Up To 56 Days Interest Free On Purchases
4. Free Additional Cardholder
5. Free Fraud Monitoring To Warn You Of Any Suspicious Activity On Your Account
6. Chip & PIN Technology For Added Security Whenever You Use Your Card
7. Visa Is Widely Accepted In The UK & Abroad
8. Convenient For Paying Online & Over The Phone
9. Friendly & Helpful UK Customer Service call centres


Disadvantages

Disadvantages

1. 39.9% APR is high

Shout Visa
Shout Visa

Visa Card627%
Representative Example

Representative Example

If you spent £300 on a purchase transaction at the start of your agreement, incurred total monthly charges of £540 over a period of 20 months and made repayments in accordance with your Terms & Conditions, your APR would be 627% APR representative (variable).

NoUntil Repaid0%0£3,000.00YesShout Visa
The Shout Visa Card charges you a single monthly fee of £15 per £100 borrowed or part thereof, there is no interest or default charges on the account. There is also a cash advance feature which will enable you to apply for a cash advance of up to £50. Before you decide to apply for this poor credit credit card please make sure that you read the terms and conditions to ensure that you fully understand your financial obligations. DETAIL INFORMATION >>Acceptance Criteria

Acceptance Criteria

1. You must be employed
2. You must have an email address
3. £800 net income per month


Advantages

Advantages

1. Up to £300 Unsecured Credit Limit
2. 0% Interest - A simple monthly charge only
3. Use wherever Visa Cards are accepted!
4. Visa Card with up to £300 credit limit
5. Poor Credit History Considered
6. Do not charge for late payments, overlimit balance and returned cheques


Disadvantages

Disadvantages

1. If you continue to miss repayments, your credit rating will be adversely affected and your account may be referred to a third party for debt collection and/or legal or proceedings may commence.
2. If your account is typically not paid off in full every month then this card may not be suitable for long term borrowing as there may be cheaper ways for you to obtain credit.
3. If you don't use your card you will still be charged a monthly fee of £3.50 for administative reasons
4. Cash withdrawals's cost £2.50 or 2.5%

The Luma Card
The Luma Card

Visa Card35.9%
Representative Example

Representative Example

35.9% APR representative variable
35.94% p.a. variable on purchases
£1,200 assumed credit limit

35.94%Until Repaid35.9%56 days£1,500.00YesThe Luma Card
Get 0% on Purchases with the New Luma Card until December 2012! The Luma credit card has many features which help you build credit and manage your account responsibly. Luma card eligibility requirements may help you get a credit card—even if you have CCJs or other issues with your credit rating. Hassle-free online and mobile account management means that you can access your account anywhere, anytime. Please read the terms and conditions of this poor credit rating card carefully before you apply. DETAIL INFORMATION >>Acceptance Criteria

Acceptance Criteria

1. You must be over 18
2. You must be on the electoral roll
3. You must have experience of managing credit - even if you have had CCJs or defaults in the past.


Advantages

Advantages

1. Get 0% on Purchases with the New Luma Card!
2. No interest on purchases until December 2012
3. Good for credit building or poor credit
4. Quick & easy application – get a response in 60 seconds
5. Manageable credit limits – up to £1,500
6. No annual fee


Disadvantages

Disadvantages

You are less likely to get accepted for a Luma credit card if you have no credit history in the UK or have been declared bankrupt in the last 12 months.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

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Compare Poor Rating Credit Cards

It is not impossible to get a credit card if you have a bad credit history but it can be costly.

The importance of your credit report

Your credit report contains the information lenders will look at when they are deciding whether or not to accept your credit card or loan application. You can get a bad credit rating from failing to pay your loan or credit card bills, are not on the electoral register or have any County Court Judgements.

If you have anything less than a perfect credit rating you will struggle to get approved for the product you want. You will also find that those with good credit scores will be offered the best credit cards and will be able to borrow more with lower interest rates.

What is a Poor Rating Credit Card?

Having your credit card application turned down because of your financial history can be very frustrating. However, there are cards available for people who have been refused elsewhere. Bad credit credit cards or poor rating credit cards are designed for people with no credit history or people who have a bad credit rating.

These cards can help you rebuild your credit rating

Some of these cards come with a credit rebuilding facility which can help you improve your credit rating over time. If you can demonstrate financial responsibility by meeting your repayments on time, you are likely to be offered a better card with a better rate in the future.

Avoid the dangers of a Poor Rating Credit Card

You will find that with a poor rating credit card you will be given lower credit limits. However, as long as you keep up with repayments, your credit limit will be increased.

You should be realistic about what you can afford and don’t take on more payments than you can manage. With a credit card make sure that whatever you agree to pay your lender, it is something you can manage responsibly. This way you will be able to establish a better credit history.

As you may have a history of not meeting your repayments, lenders will consider you to be more of a risk if you have not demonstrated responsible use of borrowing money. As a result you will find higher interest rates on poor rating credit cards than many other cards. However, correct use of the card will result in lower interest rates in the future.

Remember that if you fail to meet the repayments you risk damaging your credit rating even further.

Finding the best card

Use the able above to compare some of the leading poor credit rating cards available.

You should look for the card with the lowest possible interest rate and make sure you are aware of any fees associated with the card. You need to make sure you know what happens if you miss payments because the consequences can be severe.

Always read the terms and conditions of the card fully and don’t be afraid to ask any questions you might have.

Poor Rating Credit Cards Information

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Poor Rating Credit Cards Gallery

Aqua Poor Credit Rating Credit CardAqua Poor Credit Rating Credit Card Poor Rating Credit CardBlack Diamond VisaBlack Diamond Visa Poor Rating Credit CardCapital One ClassicCapital One Classic Poor Rating Credit CardCapital One Classic ExtraCapital One Classic Extra Poor Rating Credit CardCapital One Classic Poor Credit CardCapital One Classic Poor Credit Card Poor Rating Credit Cardgranite Credit Cardgranite Credit Card Poor Rating Credit CardProvident FinancialProvident Financial Poor Rating Credit CardShout VisaShout Visa Poor Rating Credit CardThe Luma CardThe Luma Card Poor Rating Credit CardVanquis Credit CardVanquis Credit Card Poor Rating Credit CardZebit Prepaid MasterCard (Credit Card Alternative)Zebit Prepaid MasterCard (Credit Card Alternative) Poor Rating Credit Card

Poor Rating Credit Card Reviews

The Luma Card Poor Rating Credit Card ReviewCapital One Classic Poor Rating Credit Card ReviewAqua Poor Credit Rating Credit Card Poor Rating Credit Card ReviewVanquis Credit Card Poor Rating Credit Card ReviewProvident Financial Poor Rating Credit Card Review

POOR RATING CREDIT CARDS - LATEST NEWS News and Charts

Looking For A Credit Card But Have Bad Credit?

26 April 2012 17:00
Victoria Wedderburn

People with a poor credit rating will struggle to obtain the credit card they want. However, On the UK market today there are credit cards specifically designed for people with a poor credit history.

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Granite Credit Card

18 April 2012 15:00
Which Way to Pay

If you have a poor credit rating but need a credit card the Granite Credit Card is now available at Which Way To Pay. They will consider your application even if you have poor credit history, past credit card problems, previous CCJs or other financial problems.

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Poor Rating Credit Cards Compared and Considered

02 July 2009
Xenia Rainey (Which Way To Pay)

It can be a time consuming activity trying to find a credit card that will suit your needs, let alone accept your application. If, like thousands of other regular citizens, you have had a few problems with your credit rating it can be even harder to find a card. Most providers have strict criteria for applicants, and sometimes leave customers waiting until the last moment to say that in fact their credit history is not suitable.

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