There are many different types of credit cards for people with bad credit, and a lot of these are secured. These cards have a low annual fee and charge a deposit that reduces the risk of the issuer. You can also earn cash back rewards with these cards. However, you should not use the rewards as the only reason to get one of these cards.
How much of a 500 dollar credit limit should I use?
Some issuers offer preapproval or prequalification online, and this is a great way to gauge your chances of getting approved without affecting your credit score. Be sure to compare the terms and conditions of any card you are considering before applying. WalletHub’s editors review more than 1,500 credit cards to find the best options for you.
When comparing the fees associated with different credit cards, be sure to look for the lowest annual fees and other fees. These fees can really eat into your credit limit. Therefore, if you plan to use the credit card responsibly, it’s best to look for cards with low annual fees and no out-of-pocket costs. URL : https://www.thimbl.com/credit-cards/credit-card-for-bad-credit
People with fair credit can also choose store-branded credit cards. These cards are offered by major retailers and offer rewards and discounts for making purchases at those stores. However, these cards often carry high interest rates. Be sure to check the annual percentage rate before applying for one. If the APR is high, it can add hundreds of dollars to your next monthly bill.