Best Credit Cards for Bad Credit History
If you are feeling the pinch in the current economic climate, and the expense of living, coupled with unemployment, has left you with a bad credit rating, check out these credit cards for those with a bad credit history.
The more credit cards a consumer is turned down for, the worst their credit history will look when they apply again in the future.
Prepaid credit cards enable those who cannot obtain a credit card to retain the flexibility of using a card to make their purchases, as opposed to relying on debit cards or cash.
They work in the same way as credit cards in that they can be used online to make purchases, in retail shops, and to obtain cash from an ATM, they are accepted wherever the relevant sign is shown.
Unlike credit cards they require the user to load money onto the card to use to make their purchases, and once this runs out it will not let you spend anymore as it does not have an overdraft facility.
So, if you have a bad credit history, a prepaid credit card could help you budget, and manage your money better, so when you are accepted you will be able to keep up-to-date with your bills.
Free Prepaid Credit Cards UK
The CashPlus Prepaid Credit Card is free to purchase following the initial £10 loaded onto the card. It has no transaction fees, so you can use the card as much as you like without getting charged to do so.
The card does charge £0.99 each time you use an ATM however, and comes with a monthly charge of £4.95.
If you are willing to pay for a prepaid card you could save your money on the fees and charges, which may be a better choice if you are thinking of using it long term.