Love it or hate it, today’s world—and most people’s lives—runs on credit. If you’re stuck with a poor credit rating it can be hard to get a credit card, car lease, mortgage or loan. Thankfully there are a number of great credit cards in the UK that are easy to qualify for and can help boost your credit score up to healthy levels.
Words of Wisdom
Before applying for any new credit card it is important to keep a few things in mind. For one, it’s critical to stay within your limits and pay it back on time. Fortunately, many cards built for those new to credit cards or looking to rebuild credit have features that help make this easier to accomplish.
In fact, don’t be put off if you have no or poor credit history. There are many cards that are understanding of those in less desirable financial situations, as they rely on these customers to stay in business. Here are a few great cards that cater to those with bad (or no) credit:
Barclaycard Forward Visa
The Barclaycard Forward credit card is worth considering, especially if you don’t have a good credit history or are on the lookout for your first credit card.¹ This card offers 0% interest on all purchases for the first three months. If you make your minimum payments on time and stay within your credit limit, they’ll drop your interest rates by 3% within 12 months. That’s a pretty good deal, just stay within your means and you’re golden.
Another great option is the Marbles credit card. The card offers a few great features. For one, checking your eligibility for this card won’t hurt your credit limit. And while you start out with a lower credit limit of £250- £1,200, after 3 months they’ll do a credit review. If you’ve been paying your card off on time, you’ll likely receive a credit increase. The card offers the ability to receive alerts with you are nearing your credit limit.² This is based on limits that you set, but it can be a very good reminder.
It has a great online interface and it is an easy-to-understand system, especially for those who are new to credit cards or have had trouble keeping up in the past.
Ocean Finance Credit Card
The Ocean Finance credit card offers up to a £1,500 credit limit and is another decent choice for those looking to build solid credit. Checking your eligibility for the card won’t affect your credit score, and you can find out if you qualify in just 60 seconds.³ The card also offers a simple to use mobile app and provides free email and text alerts to keep track of your spending. It does have a high 39.9% APR, so it’s important to pay off the card in time to avoid hefty interest fees.
Whether you are trying to get your first credit card or you’re a tried-and-true credit card superstar who may have fallen on hard times, there are certain considerations to keep in mind.⁴ Remember to make sure all the features of the card line up with what you want. Consider the advantages and disadvantages of each card you look at. And remember the list above – they’re particularly good options for those with no or bad credit.
One of the best ways to get started is to look around online and research what’s best for you. Keep in mind the APR as well as any additional fees and look out for extra rewards options like Air Miles. Most cards make it easy to apply online, so an online search for options should be all it takes to find a great credit card that will have your credit score up in no time.