Top 5 Credit Cards in the UK for Bad Credit Holders

When having bad credit, it can be hard to apply for a new credit card or to benefit from all the financial perks that people with good credit have. But now, there are credit cards that can improve bad credit scores and help pay for other essentials. Negative financial history may affect a person’s eligibility for a loan, get a mortgage, or apply for a lease, but being informed about the optimal credit cards for any situation is an important first step.

1. Barclaycard Forward Card

If searching for a new credit card while possessing bad credit, Barclaycard Forward can be an excellent solution to build an optimal credit score. If the account is handle well and all payments are made on time, this card would be well worth the effort. The bank promises rewards after a few years of holding the card with a – 3% reduction in interest rates. The end result is a personalized credit limit between £50 and £1,200, with a 0% interest on purchases for three months from the starting date¹.

2. Ocean Finance Card

This credit card works better when aiming to improve personal credit scores. Credit limits go up to £1,500, with the option of paying up to £30 worth of items quickly and securely. To meet this card’s eligibility criteria, one must be: Over 18, on the electoral roll and have some history of managing credit. Ocean Finance also provides some appealing extras. Extras such as the ability to manage accounts online, to avoid visiting the bank in person. Only one simple interest rate is applied for all transactions, and three additional cardholders can be attached to an account².

3. Marbles Card

“The smart credit card that can help one stay on control.” To those in trouble with spending under a credit card’s limit, this may be the ideal solution. Spending alerts will be sent to inform holders when the limit is being crossed, a limit that can be managed from £250 up to £1,200. Regarding expenses, if £1,200 is being spent all at once, representative APR will be 29.7% APR (variable). The bank reviews the credit limit after 3 months and if everything is fine, an increase will be applied to the 4th statement. Transactions can be tracked online and the payment date can be chosen. The eligibility for this option can be quick to check with the online service.³.

4. Aqua Classic Card

An Aqua Classic Credit Card provides a simple way to manage one’s money without carrying the risk of having cash on hand. Those with a credit limit of £250-£1,200 will have chance of an increase on their 4th statement. For the £1,200 credit limit, assumed interests for purchases will be 29.75% p.a (variable) and 29.7% APR (variable). Those who apply for this card will have unlimited access to a credit report and with text reminders to help avoid missing payments. The bank makes promotional provides from time to time when making purchases, cash transactions, balance transfers, money transfers, and Installment Plans. An option of 48 days no interest period is available on standard purchases⁴.

5. Vanquis Classic Card

This bank allows holders to check credit card eligibility quickly. It takes only a few minutes to confirm the eligibility status, with absolutely no risks. The minimum credit limit is £150 while spending can exceed £1000 per month. Vanquis’ representative APR (variable) is 39,9% if £1000 is borrowed. The credit card limit can be increased after the 5th statement and also there are further there are other increases available after each 5 month. Up to £4000 can be borrowed⁵.