Best Credit Cards for People With Bad Credit Scores
If your credit score falls between 300 and 669, companies might consider you someone with “bad,” “fair,” or “very poor” credit, according to Experian. In fact, around 34% of Americans have credit scores below 670.
If your credit score needs a boost, follow our advice to help work towards a score of 670, which is considered to be the lower-end of “good credit.” Improving your credit score is worth it. A higher credit score means you hold the power, not the lenders. Low credit scores can mean:
- Lenders can deny you home or auto loans, or credit cards.
- If they do offer you loans or cards, they’ll have higher interest rates, which will cost you more money over time.
- Many credit cards for those with poor credit don’t offer perks such as rewards or cash back.
- You may have to put down bigger down payments.
- You can even be turned away from certain jobs, especially positions that include being involved with large amounts of money.
Improving your credit score is worthwhile, but it’ll take time. Until you get there, you can still get credit cards that offer some perks and decent interest rates. Here are some of our favorites: