For some people with a poor credit rating or bad credit history it is incredibly difficult to get approved for a standard credit card. For those recovering from recent financial troubles, post-bankruptcy situations and CCJs or simply self-employed specialists there is a segment of credit card market which provides credit cards for people with bad credit. Some providers prefer to call such cards adverse credit cards.

There are some characteristics common of all the bad credit cards. All of them have interest rates which are much higher than those of mainstream credit cards and, as a rule, do not offer any interest-free promotions. Credit limits are also significantly lower. The point of taking out a bad-credit credit card is to improve your credit score and to be able to pass to a card which offers a better deal and to make use of special offers of airmiles, cashback and rewards credit cards.

The choice of credit cards for people with bad credit is not so wide but there are some providers that accept applications for credit cards even if you have a bad credit score or no previous credit history at all. Some of them are:

Capital One Classic Credit Card is one obvious choice. It has a 34.9% typical APR and the same rate applies to purchases, balance transfer and cash withdrawals so it is vital to pay your balance in full every month and not go over your credit limit which is estimated individually but begins from £200. The requirements include not to have been declared bankrupt in the last 12 months and to be able to demonstrate some previous history of credit management, even with some defaults or CCJs in the past.

Vanquis Credit Card has a huge 39.9% APR and is only good if you are sure to be able to pay off in full every month in order to restore your credit score. Borrowing on this card or defaulting on payments can result in huge penalties and a nasty pressure from the company in the form of non-stop telephone calls with demands of repayment.

Acqua Credit Card has a typical APR of 35.9% variable but you might be offered even higher rates of 37.9% or 39.9%. One of the pluses of the card is a possibility to choose at what time of the month you are making repayments and this date could be changed up to three times in a year. The card is issued by the Bank of Scotland.

Although the cited APRs are high, they are also “typical” , which means that the real rate offered to you could be much higher, depending on your individual situation. Therefore, do not accept cash advances, often offered even before the delivery of the card, as they accrue the same high interest rates.

Adverse credit cards are in no way good for borrowing and it is essential to pay the card’s balance in full every month in order to improve credit history and not get into more debt. If you need cash, a standard personal loan could be a much better solution. Prepaid cards could also prove to be an alternative to bad-credit credit cards as they do not require credit history check to obtain them.