Do you have poor credit?  If you have had poor credit you may find that some of the banks make it more difficult for you to obtain a card or will flatly decline you.  They don’t really care for the reason that has made you struggle with credit in the past.  All they care about is the risk you pose for them now.  These types of companies are not the ones you want to deal with.  You want a bank that will understand there are many things out of your control and therefore you should get a second chance with credit cards.  While they are not blind you are still guaranteed that all applications are accepted and about 90% of them are going to be guaranteed approval.  These types of cards are not the best when you consider some aspects of credit card life, but at least they are willing to give you the chance to show you have responsibility and you can improve your credit.

So for cards where you have poor credit, there are going to be three major banks to seek out.  First premier, Orchard, and Centennial are the banks that usually offer credit cards for poor credit no matter what your application says.  This means that if you have had a bankruptcy you can still get a credit card.  Let’s take a look at the First Premier card.  They offer no introductory period, no rewards, and the regular annual percentage rate is going to be 9.9%.  The terms and conditions will tell you that the card company reserves the right to choose the annual percentage rate based on your credit history.  This means that while a regular customer with excellent credit scores will get 9.9% you will have something higher.  When trying to choose a card for poor credit there is one thing to remember.  You need to know that maximum annual percentage rate the card is willing to offer.  If they have universal default that annual percentage rate can be as high as 30%.  You should also understand when they offer that rate.  This will help you narrow the choices in banks down so that you are not in a situation where 30% doesn’t help, but hinders your recovery.

Orchard bank is offering about the same types of credit cards for poor credit.  They don’t offer an introductory period, there is an annual fee, and there are no rewards.  The difference is in the annual percentage rate.  You see they are going to offer something in the 8.9% to 14.9% that is a variable rate.  They have told you at the outset the high rate they normally charge for bad credit or poor credit.

Your situation is going to be the determining factor.  You could end up with a lot of interest or you could get the best card that is available on the market for the poor credit situation.  Typically the bankruptcy or arrears are going to be very costly to you if you don’t pay off the balance on a monthly basis.