Credit Cards for Bad Credit: Three Facts They Don't Want You to Know

Is there such a thing as credit cards for bad credit? Are those with credit blemishes destined to wander hopelessly through the credit card abyss? No. And if anyone's told you otherwise, I've got some advice. Make a list of all of the people who have made you feel "less than" for not having perfect credit. Make a list of all of the companies who told you you'd have to pay hundreds of dollars for a credit card to call your own. Then call those people and tell them exactly what you'd like to see them do with their lies and their "holier than thou" attitude. These three facts are going to set you free.

1. You're Not Alone

Let them look down their nose at you all they want. The fact of the matter is, their credit probably isn't perfect either. Those who live in glass houses...

Seriously. Do you want to know what the percentage is of people with perfect credit? Less than one percent. Seriously, 850 is a perfect credit score. If you're in a room of 100 people, chances are that not even one of them has an 850 credit score. In fact, only about 13 percent of people even score above 800.

So if anyone tries to make you feel bad for not having perfect credit, shrug it off. Barely anyone has perfect credit. Yours may be worse than some, but you're by no means alone in the world of those who need a credit card for bad credit.

2. Low Rates and Low Fees Do Exist

Have you ever been in a situation where you didn't know whether you should laugh hysterically or scream in utter frustration? That's exactly how I feel when someone tells me they've been told by one credit card company or another that they should have to pay hundreds of dollars in fees for the privilege of carrying a credit card.

There are very good credit cards for bad credit that require very low annual fees ($70 or less), no processing or application fees and reasonable interest rates (less than 16 percent). No, they're not as great as the terms offered to those with credit scores of 700 or above, but they are definitely reasonable.

The next time a company tells you that you should pay them ridiculous amounts for their credit card because your credit is tarnished, laugh and then hang up. It's exactly what they deserve.

3. Prepaid Cards Are Not the Solution

It's important to understand that prepaid credit cards are not the solution to credit woes. Yes, they'll get you a credit card number to use for online purchases but they do nothing to improve your credit rating since they don't report your card activity tor the credit bureaus.

Do yourself a favor and get a real credit card for bad credit. These cards report to the credit bureaus. This means your diligent responsibility will pay off as your credit rating continues to rise.

And there you have it. The three credit card facts that the bad credit card companies don't want you to know. Laugh in the face of up-front application fees. Scorn exorbitant interest rates and charges. You know the score. Stick with the good credit cards for bad credit and get ahead of the game.