These credit cards have been designed to give you a second chance with your credit. It is for those with a low or damaged credit score.

Used responsibly these cards will create a positive payment history and improve your ratio of available credit to debt. Frequently these cards are used to repair a damaged score.

Your payment history and available credit to debt are both very important to your credit score. By improving these you can improve your score even with bad credit items on your report.

These cards will report to the major credit bureaus. They will come with an APR around 19% and will have an annual fee. However the benefit of improving your score will offset the high price of a low credit score.

Your credit limit will be approximately $300 and you will be eligible for periodic credit limit increases. However some cards like the Tribute Gold MasterCard do offer a card with a limit of $70 for those with very bad credit.

These cards will help your score more that a secured credit card. This is because a secured card is reported to the bureaus as a secured account and will not impact your score as much as an unsecured account.

It is still important to remove negative marks from your credit history. However it has been learned that after a negative mark ages for four years it has much less impact on your score.

For you to get the most out of your card you should strive to keep the monthly balance at 25% of your credit limit. This is because it shows the bureaus that you are using your card responsibly and that you do in fact use your card.

These cards were designed for those with; collections, judgments, repossessions, bankruptcies, and charge offs on their credit report. Every card does have different approval requirements but will give you an instant decision when you apply.

In sum if you have made mistakes in the past with your credit and want a second chance we suggest a sub prime card. It can improve your ratio of available credit to debt and build a positive payment history.