Use a Bad Credit Credit Card to Repair your Credit

by : Jon Francis

If you've been struggling with credit problems and trying to heal bent and broken credit, you may feel as if you'll never be able to clear your adverse credit rating. But as one major UK lender says, 'There is always a way'. In fact there are many ways to restore your credit - including to simply wait. Time will erase even the worst credit faux pas from your credit report. If you'd like to give time a little nudge, though, you can speed up the process of restoring your credit with one of the several varieties of bad credit credit cards.

- There are many reasons to want to improve your credit more quickly. As little as ten years ago, bad credit really was only important to those who were looking for a mortgage or a loan of some sort. Credit cards were a nice thing to have, but far from the necessity that they are in today's world. Even more importantly, though, is the fact that your credit score is used for far more than deciding on whether or not to grant you a loan. The ease with which computers can check your credit has made it common for employers and landlords to run credit checks on prospective employees and tenants, among other things. Having some serious dings and dents in your credit can affect far more than whether you're accepted for credit cards or loans. Poor credit can keep you from the job you want or the flat you've fallen in love with.

- So how do you repair bad credit once it's happened? The very best way is to start rebuilding a good credit history - now. Even if your credit is completely shot to pieces, there are UK credit card companies that specialise in bad credit credit cards. The most common of these is a secured credit card. No matter how bad your credit history, you CAN get a secured credit card.

With a secured credit card, you deposit money in a bank account tied to your credit card. That money serves as security for your repayment. As long as you make your payments on your secured credit card in full and on time, that money stays in the bank account earning interest. You can even add more money to your secured account to raise your credit limit on your secured credit card. Many companies that offer bad credit credit cards will even offer you a traditional credit card after you've made regular, on-time payments for 12-36 months.

The credit card company will also report your on-time payments to the credit bureaus, which will begin rebuilding your credit. Your regular, timely payments will be evidence that you have turned yourself around, and often within a year, you'll be able to qualify for a regular credit card without a security deposit.

You'll find all the information you need to compare secured credit cards at comparison websites. You'll be able to compare credit cards, bad credit credit cards and secured credit cards to find one that's just right for you.