28 Jul
2010

If you look at the high interest rates bad credit credit cards charge, you may think it’s better to have no card at all. However, this is not the case. Despite the high interest charges, there may be reasons why a bad credit credit card makes sense:

1) You travel a lot. Travel is much simpler with a credit card than without one, because you can charge your hotel room, flight, and other features. Remember: you cannot easily book a hotel room or rent a car today without a credit card.

2) It’s a simple way to boost your credit rating. Having a low limit bad credit credit card can be an easy way to improve your credit rating. If you pay the card on time each month, you will increase your credit rating. If you keep the limit on your card small, you’ll never rack up the charges that can mean huge interest costs.

3) It’s a safety blanket. In some cases, bad credit credit cards are still less expensive than cash advances. They can also be handy in an emergency – such as a car breakdown far from home. Plus, bad credit credit cards are still safer than carrying cash – the good cards come with safety features that protect you when you make purchases.