How to find the right credit card for you
I have a poor credit score. Which cards offer the best deal?
If you have never had a credit card before or have missed payments in the past you won’t qualify for any of the deals previously mentioned as they are only available to those with excellent credit scores. However this doesn’t mean you can’t have a credit card.
Some deals are aimed specifically at those with poor credit histories. They charge higher-than-average rates of interest though so it is important to pay your balance off in full each month. It’s also worth setting up a direct debit to ensure you are never late making a payment - this will help protect and improve your credit score.
If, by using one of these cards, you can demonstrate that you can manage credit responsibly it should increase your chances of being accepted for a more competitive deal in the future.
The Capital One Classic card has a representative APR of 34.9% (variable). Unusually for bad credit credit cards, it offers a 0% period on purchases until August 2012 which could be useful if you want to make a large purchase.
Another option is the Aquis card. The representative APR is lower at 29.8% (variable) but there is no 0% period.
Every week, Clare Francis, financial journalist and editor of comparison site moneysupermarket.com will offer tips and advice on all things money-related to help iVillagers make the most of their hard-earned cash. From energy bills to car insurance; credit cards to children’s savings accounts; mortgages to discount vouchers Clare will show you how to make sure you’re getting the best deal.