Bad Credit Credit Card

What can you do to get a credit card after bad credit?

People with bad credit histories or no credit history may find it hard to get approved for a credit card. This is because the credit lender may consider you a risk for defaulting on your obligations if you are approved and are not willing to take a risk on you.

What can you do to get a credit card with a bad credit history? Get your financial situation in order by paying off all your debts. If you have had a bad credit history you need to repair this before you will be considered. Consolidate your debts into one personal loan with a lender or financial broker, closing off other debts (credit cards, personal loans) in the process.

Get a credit history. Apply for a credit card with a low credit limit, detail your personal income and assets and you should be considered as long as you can prove you have income. Apply for a small personal loan and repay the amount without falling behind on repayments.

Generally you would only be considered for a credit card if you have a regular yearly income of at least $20000 or more. The more you earn the easier it will be to get approved.

If you need  to use credit card payment facilities but cant get approved then you could consider direct debt cards, you can spend your own money throught Visa or Mastercard credit transactions which are directly link to your bank account. You won’t need to be approved for a credit limit.

The table of low interest credit cards below would be ideal for people with poor credit histories if you meet there lending critera with managed debts and proof of income.

Low Interest Credit Card Details:

		Purchase % p.a.	Annual Fee	Interest Free	Balance Transfer
	Low Rate MasterCard 0% p.a. on purchases for the first 3 months	13.24% p.a.	$58.00	up to 55 days	-
	StGeorge Vertigo MasterCard 2.99% p.a. balance transfer rate for up to 6 months!	13.24% p.a.	$55.00	up to 55 days	2.99% p.a. for 6 mths
	ANZ First Visa 0% p.a. for the first 3 months	19.24% p.a.	$30.00	up to 44 days	-
	ANZ Frequent Flyer Platinum Receive 20,000 Bonus Qantas Frequent Flyer points	19.74% p.a.	$295.00	up to 55 days	-
	Virgin Flyer Credit Card You'll earn 1 Velocity Point per $1 spent up to $1,500 per month and then 1 Velocity Point for every $2 spent.	20.99% p.a.	$99.00	up to 44 days	0% p.a. for 6 mths