By Adam Jusko, ProudMoney.com, firstname.lastname@example.org
If you have a bad credit history, you might already know that being approved for new credit can be tough, especially if you want an unsecured credit card that doesn’t require any type of collateral such as a security deposit. In this article, I am going to walk you through the steps we suggest for people with bad credit who are in this situation.
First, A Pitch for Secured Credit Cards
OK, I know we’re talking about unsecured credit cards, but if you have bad credit, you really should consider a secured credit card to help you build your credit score. Yes, you have to put a security deposit down in order to get a secured credit card. But that security deposit is refundable, and secured credit cards often have fewer fees than the unsecured cards that poor credit history customers can generally get approved for. In addition, many secured cards are issued by major banks that you probably hope to build a relationship with, and very often these banks will “upgrade” you to an unsecured card after you’ve proven yourself through on-time payments for some period of time, usually within a year. So, check out our list of best secured credit cards and consider applying for one of those.