How Easy Is It To Get A Credit Card With A Bad Credit Rating?
Credit card bills are easy to pay when your balance is low. But when your balance gets higher, whether it’s due to emergency spending or irresponsible spending, paying your credit card bills becomes more challenging. And for some people things get so bad that they end up with a bad credit rating. Such an occurrence could be detrimental for getting a new credit card. This is because most lenders prefer doing business with low-risk borrowers – those who have high credit scores and pay their bills on time. If they do otherwise, they risk losing their profits. Yet, does that mean it’s impossible getting a credit card with a bad credit rating? Of course not, as there are a small percentage of lenders that will take the risk. These companies are known as subprime lenders. So, why are subprime lenders different when it comes to accepting high-risk borrowers? Well, unlike traditional lenders, subprime lenders already assume you’re not going to repay. As a result they try to get as much out of
