What is Bad Credit?

Bad credit ‘credit cards’

Why will I need a bad credit ‘credit card’?
You might need a bad credit ‘credit card’ for a variety of reasons. They are:
 If you have defaulted on paying your house rent or credit card or other debts.
 If there has been a County Court Judgment against you.
 Ensure that you are a registered voter before applying for any credit.
 Though little far fetched, but at times even the credit history of your geographical location might come into play.
 

What are the disadvantages of a bad credit ‘credit card’?
It is not impossible to obtain a credit card when you have a poor credit history, but it is definitely expensive. You get a bad credit history when you usually lose out on making your payments – so the creditors insure themselves against this happening. This implies a high rate of interest. You can surely mend this by making regular payments – this will enable you to get an access to a better credit card with a better rating in future. Nevertheless, if you default again, your credit rating will become worse!

According to a recent study, almost one in every four adult population in the United Kingdom has experienced some sort of bad credit. Alarming, right! However, don’t fret. There are a lot of companies today who are sympathetic to people with bad credit history. Listed below are some bad credit ‘credit cards’:

Orchard Bank Platinum MasterCard – the features of this card are as follows:
 It does not charge any introductory APR.
 The regular APR charged is 14.9%.
 The annual fee is from $39 to $59.
 The card can be given to those who have poor credit report.

Orchard Bank Low APR Platinum MasterCard – the features of this card are:
 There is no introductory APR charge.
 The regular APR charged is 8.9%.
 The annual fee is from $39 to $69.
 People with bad credit report can avail this facility.

Orchard Bank Gold MasterCard – Orchard bank Gold Master card has the following features:
 Like the previous ones, this too has no introductory APR charge.
 The regular APR charged is 14.9%.
 The annual fee is $79.

First Premier Bank Gold MasterCard® - the features offered by this card are:
 There is no introductory APR charge.
 The regular APR charged is 9.9%.
 You have to pay an annual fee of $48.
 You have to pay an account set up fee of $29.

Centennial Visa or MasterCard® from First Premier Bank – this card offers the following features to its users:
 There is no introductory APR charge.
 The regular APR charged is 9.9%.
 You have to pay an annual fee of $48.
 You have to pay an account set up fee of $29.

Centennial Gold MasterCard® from First Premier Bank – the basic features of this card are:
 There is no introductory APR charge.
 The regular APR charged is 9.9%.
 You have to pay an annual fee of $48.
 You have to pay an account set up fee of $29.

First Premier Platinum Card – listed below are the features of this card:
 There is no introductory APR charge.
 The regular APR charged is 9.9%.
 You have to pay an annual fee of $48.
 You have to pay an account set up fee of $29.

Orchard Bank Silver MasterCard – the features of this card are as follows:
 There is no introductory APR charge.
 The regular APR charged is 14.9%.
 The annual fee is $49.

Orchard Bank Secured MasterCard – the features are:
 There is no introductory APR charge.
 The regular APR charged is 14.9%.
 The annual fee is from $39 to $79.

However, all these cards are subject to specific terms and conditions. I have tried to maintain accurate information but if you are looking for any further details, kindly visit the credit card issuer’s website. Also remember that all the credit card information is provided without any warranty.