It is possible for those with poor credit histories to secure credit cards.  Even though the headlines proclaim that consumer credit is tightening and commercials will tell you that you’re stuck living in your in-law’s basement due to a “checkered” past with respect to money management, you can get a credit card.

That should be good news to those who can’t brag about a FICO in the 700s.  It’s hard to function as a full member of society without a piece of plastic these days and the thought of being unable to to secure a card can be extremely disheartening.  Fortunately, if you ignore the “you gotta be perfect” hype and do some quality investigation, you can find credit cards for people with bad credit.

First, there are unsecured credit options for those who have “less than perfect” credit histories.  That’s right, you might be able to get a solid, traditional credit card even if you’ve had problems in the past.

Most of these unsecured options will start with relatively small credit limits and will have rather high interest rates.  That’s understandable, though. You can’t expect a bank to loan out too much money at a low rate of interest to someone who hasn’t proven the ability to handle credit appropriately.

They do issue the cards, however.  To make matters even better, it’s often possible to have the limits raised and/or the interest rates dropped over time as you prove an ability to manage the card.  Plus, the very act of having the card and using it responsibly can improve your credit score, making it easier to secure better terms from other lenders.

Second, you have the option of obtaining a secured credit card.  These cards are available to just about anyone, regardless of history.  That’s because they require a matching secured deposit with the issuing financial institution.  The bank doesn’t need to worry about the cardholder failing to repay the card balance because they already have a matching deposit as collateral.  In many cases, you can get one of these cards without anyone even checking your credit history!

Secured credit cards for people with bad credit are a great way of securing the advantages that come with having a Visa or MasterCard in your wallet while simultaneously improving your credit rating so that you may later qualify for a traditional, non-secured card.  If you can’t get an unsecured credit card, you really should consider secured alternatives.

Third, there are other credit cards for people with bad credit in the form of prepaid debit cards.  These cards work in all stores that accept traditional Visa and MasterCard payments.  They allow the cardholder to enjoy the convenience of a card and can even be used at the ATM.  They don’t offer all of the same perks as a standard secured or unsecured card, but they can be a great choice for some individuals.

When you look at the matter from a broader perspective, you’ll realize that there are credit cards available for everyone, regardless of their credit histories.  While someone with a less than superb history won’t qualify for a top card at a great interest rate, that doesn’t mean he or she needs to work under the assumption that getting a card is impossible.  There are unsecured, secured and prepaid options available that are designed to meet the needs of those with bad credit.