I have bad credit. Can I still be approved? - Limited/Bad/Fair Credit Questions


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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » I have bad credit. Can I still be approved?

I have bad credit. Can I still be approved?

Answered on | Updated on September 4th, 2012
The content is accurate at the time of publication and is subject to change.

Yes, you can still be approved for a credit card if you have bad credit. Bad credit doesn’t necessary mean that your credit card application will be denied. In fact, more and more credit card companies are willing to take a chance on consumers with bad credit lately. There are just a few things to be aware of before you apply.

When you are shopping for a credit card for people with poor credit, you’ll find that interest rates are higher, and some cards may have fees for things like activation, which you wouldn’t see with a credit card for excellent credit.

Unfortunately, higher interest and fees can be the price of admission when you’ve been knocked off your credit game and are struggling to get back on the horse. There are still lots of good cards for you – just not as good as you might hope for.
One way to avoid paying higher interest is to pay off your card in full every month and not carry a balance, which will help your credit score as well as your wallet. Make small, manageable purchases, pay your bill on time each month, and keep your total balance due under about 20 to 30 percent of your total credit line, and your credit score should start to rebound.

One thing – before you apply for a credit card, take a look at your credit history and look for any mistakes or inaccuracies. You’d be surprised how many credit reports contain misinformation; some data suggests it’s almost 80 percent. Do a little financial housekeeping and make sure everything is correct on your credit report before you start repairing it.

Good luck – with a little bit of patience and effort, you’ll find that your credit score is on the mend soon.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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