A credit score of less than 599 is considered low, and you’ll hardly qualify for traditional credit cards.
While it’s hard to get a conventional credit card, having a low credit score doesn’t mean you won’t get one completely.
It’s possible to acquire a credit card regardless of your bad credit; nevertheless, it will not be those cards typical of awards and premier bonuses.
You’ll get a basic card that will work as a springboard to build credit as you move on to a moderately better card.
Typically, you’ll provide a security deposit to secure one of these cards, which is meant to protect the card issuer in case you default.
On the closure of the account, you are guaranteed a refund of your security deposit.
In any case, approval for the credit card isn’t always a guarantee. You’ll need to prove your income, show that you don’t have bankruptcies, and other adverse financial problems.
At the same time, you can opt for an unsecured card for bad credit, which typically doesn’t require a security deposit. Still, you’ll end up coughing up more in fees.
While some cards are generally easy to get, you should proceed with caution since they have limited credit limits and high-interest rates.