Credit Cards for bad credit history.

Did you know 1000's of people in the UK are refused credit ever day due to their ''poor credit rating''. This can make it impossible to gain a credit card or loan from your bank or building society. You will generally have a ''poor credit rating'' for 3 reasons;

1) You have had problems with credit in the past and have defaults or ccj's

2) You are self employed and find it hard to produce paperwork to prove your income

3) You have never had credit before and so simply do not have a credit rating

Point 3 causes problems for many people as you find yourself in a catch 22 situation, as you need credit to build you credit rating.

Rebuild Credit cards & Adverse Credit Credit Cards

Some companies are now taking a more flexible approach lending to those with a ''poor credit rating'' by offering a credit card with a small credit limit (e.g. £250.00). Such companies do charge a higher APR rate, however, these credit cards give you the change to prove yourself worth of credit and help you rebuild your credit rating. Many companies will increase you credit level once you have proved you will make monthly payments and some actually reduce your interest rate accordingly.

You also gain the benefits of a full credit card offering you the change to buy online and use abroad.

 

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