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Bad Credit Credit Cards

Written by Kathleen Gagne
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What many people don't realize is that when used correctly, credit cards are a wonderful and excellent financial tool. Even people with terrible credit histories, who have landed in dire financial straits because of credit card debt, can get credit card offers. Usually these are for bad credit credit cards.

Bad Credit Credit Cards 101

There are secured credit cards, and there are unsecured credit cards. If you're looking into offers for bad credit credit cards, you're likely looking at secured credit cards. These are cards that are specifically formulated to help people with poor credit get the benefits of having a credit card.

With a secured credit card, the card's account is usually tied to a savings account. This account is what "secures" the card. In other words, if you have $500 in the account, your credit limit on your secured card is $500. With this security, a credit card company can offer bad credit credit cards to even the worst credit risks.


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