Credit Building Cards

Compare Adverse Credit Cards

	Credit Card	Representative APR Variable Annual Percentage Rate: the interest that you will pay per year on purchases. This rate includes annual fees but does not factor in other charges such as default fees. Rates shown are 'typical' interest rates and may vary depending on your credit rating.	Balance Transfers A balance transfer is when you transfer the debt owed on one credit card (the balance) to another.			Purchases
			Rate This indicates the introductory interest rate on balance transfers that a credit card offers.	Duration The duration of time that the introductory interest rate on balance transfers will apply.	Fee Balance transfer fees are usually applied to any balances transferred from one card to another. They are calculated as a percentage (typically between 2-4%) of the amount being transferred.	Rate This indicates the introductory interest rate on new purchases that a credit card offers.	Duration The duration of time that the introductory interest rate on new purchase will apply.
	aqua Credit Card	35.9%		n/a			n/a	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Permanent UK Resident Yes Existing Customer No
	Representative Example: 35.95% p.a. variable on card purchases. This is equivalent to 35.9% APR representative (variable) based on a credit limit of £1,200. The purchase rate is 35.95% pa (variable).
	Barclaycard Initial Credit Card Discounts with Barclaycard retail partners	29.9%		n/a		0%	3 months	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Permanent UK Resident Yes Minimum Age 18 Existing Customer No
	Representative Example: 29.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 29.9% p.a. (variable).
	Vanquis Vanquis Visa Card	39.9%		n/a			n/a	MORE INFO Read this before you proceed. To qualify for this product you need to meet the following criteria. Permanent UK Resident Yes Minimum Age 18 Existing Customer No Credit Rating Poor Minimum Income £4,000
	Representative Example: Purchase annual interest rate 39.94% (variable). Amount of credit £1000 Representative 39.9% APR (variable).

Credit building credit cards

If you've previously had debt problems you might think that the banks will swiftly show you the door if you asked them for a credit card.

However, many of the banks have credit cards that are specifically geared towards people with poor credit ratings. They may even offer these to people that have had county court judgements against them or that have been declared bankrupt in the past.

Furthermore, the card could act as somewhat of an olive branch where your economic profile is concerned. If you manage the account well and don't get into arrears you'll go a long way to convincing the banks that you are now a responsible, low risk borrower once more. This could help you get accepted for a mortgage or a loan in the future. In this way, the card could also be suitable for somebody that hasn't ever had any other credit products in the past.

The price you pay for this redemption is an interest rate that will be a far removed from the market leading offerings. However, if you always pay the balance of your card off in full within the designated grace period following your bill, this won't concern you.

However, it's important to discuss the prospects of your being accepted for the credit card with your bank or an independent financial adviser before you start the process. Repeated rejections will only serve to damage your credit rating further.

Click here to find out more about choosing credit cards.

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