5 Credit Card Options to Help You Fix Bad Credit

Having bad credit doesn’t have to be forever. There are plenty of ways to help improve your credit score.

Keep reading for some great credit card options to help fix bad credit.

Keep Up with Your Payments

Make sure to keep up with your credit card payments. One late payment can drop your credit score a lot. You will want to have a good payment history to help keep your credit score from dropping.

It can take 7 years for things like late payments, foreclosure, bankruptcies, etc. to stop negatively affecting your credit score. You should try your best to pay your debt off as quickly as possible.

A good idea would also be to have a mix of accounts that you are able to keep up with and maintain. Paying off a car loan or mortgage can also help to improve your credit.

Avoid Cards with High Annual Fees

With bad credit, comes lots of decisions on how to improve your credit. There are a few things you should avoid if you’re trying to strengthen your credit score.

Cards with high annual fees should be avoided even if they promise you a lot of rewards. You may not be getting that much income so you will not be able to take full advantage of what the card has to offer. You should work on building your credit with a simpler card.

Secured Credit Cards

A secured credit card is the best way to help build your credit. They do require a security deposit that is usually about the same as your credit limit. You are essentially borrowing the money that you have put down for the deposit.

If your credit card reports to the three major credit bureaus and you don’t miss a payment, then this will really help your credit score go up.

A Fingerhut Credit Card

A Fingerhut credit card is actually willing to help consumers buy the things they need while also helping to fix their credit score. It is almost like a personal loan without the credit check that dings your credit score.

It is super easy to apply for a Fingerhut credit card and all they need is basic information from you. They claim you don’t even have to wait long and you could be approved within minutes of applying.

As mentioned above you will want to make sure you never miss a payment. Fingerhut is very flexible with payments and they will even let you pay off your balance with a credit card. They regularly report to all three credit bureaus so if you’re maintaining your balance this will help your credit score.

Don’t Apply for Multiple Credit Cards

If you know that you have bad credit, then the smart thing to do would be not to apply for multiple credit cards. For most credit card companies, every time you apply for a new credit card they will check your credit score. Having your credit score checked will affect it negatively.

Before applying, do your research and make sure you will be accepted for the credit card.

You also do not want to get too many credit cards at one time. This is a sign that you are desperate for cash and will not look good to lenders.