Credit Cards for Bad Credit

        Credit Cards for Bad Credit in Australia

Your credit score isn't necessarily the be-all and end-all when it comes to getting a credit card. While it's a lot easier to get a credit card with a high credit score, it's not entirely impossible to get approved with a poor credit history. Be sure to do your research first though, as your credit score drops every time you apply and get knocked back.

$10,000
Loan amount $1,000 - $10,000
Interest 11.99 %
Maturity 1 - 12 months

Fast information

Properties of this loan

  • Credit card
  • Interest-free period up to 55 days

Loan requirements

  • At least 18 years old
  • An Australian citizen or permanent resident
  • Employed and earning a regular and verifiable income of at least $25,000 a year

About company

More information about the company Members Equity Bank Limited

Borrow from $1,000 with interest from the 11.99 % Moread
$2,000
Loan amount $100 - $2,000
Interest 12.99 %
Maturity 1 - 18 months

Fast information

Properties of this loan

  • Variety of credit cards
  • Quick verification

Loan requirements

  • 18 years or older and a permanent Australian resident
  • Permanent full-time or part-time employment, or self employed
  • Earn a minimum income of $25,000 per year or more
  • Have a good credit rating
  • Have an Australian mobile phone number
  • Have your email address handy so you can receive electronic statements and other communications via email
  • Have your existing flybuys membership number ready (if you have one)

About company

More information about the company Coles Supermarkets Australia Pty Ltd

Borrow from $100 with interest from the 12.99 % Moread
$4,000
Loan amount $400 - $4,000
Interest 9.9 %
Maturity 1 - 12 months

Fast information

Properties of this loan

  • Variety of credit cards
  • Low interest rates

Loan requirements

  • At least 18 years old
  • An Australian citizen or permanent resident

About company

More information about the company Commonwealth Bank of Australia

Borrow from $400 with interest from the 9.9 % Moread

        Credit Cards for Bad Credit in Australia

Can I get a credit card without a credit check?

It's not possible to get a formal credit card in Australia without being subject to a credit check. However, there are credit providers–– called payday lenders––who are happy to lend without performing a credit check.

Generally, payday loans are a thing to avoid due to their high interest rates plus fees and charges (capped at 48% per annum), but in the case of a bad credit score, a payday loan could be wise if it means avoiding further damage to your credit report. Each time you apply for a credit card, a credit check is performed. Your credit score takes a hit every time your credit card application is rejected. You can keep your credit score from dropping further by avoiding being rejected for credit card applications.

Any "hard" checks on your credit report––such as what is required with credit card applications–– impact your credit score, but "soft" checks can be performed with no detriment to your score. Search for a lender who can give you a good idea of whether you qualify for finance by initially performing a soft check. This will help you rule out any lenders who would surely reject your application so you can have the best chance at getting approval for a credit card that suits your financial situation. You can find comparison tools online that compare credit card options for people with a poor credit rating. This is a good way of determining your eligibility criteria before applying.

What credit card can I get with a bad credit score?

You can apply for a credit card with bad credit history but the options will be limited. A low limit credit card might be an option for you if your income is greater than $15,000 p.a. and you have few debts (or preferably no debt) built up. These are basic credit cards with a low minimum credit limit which means less risk to the lender and a higher chance of approval. The limit may be increased in the future once it's been proved that you can consistently meet the repayments.

A debit card or prepaid credit card might be a good option for you if you're simply needing a widely accepted method of payment. These cards don't impact your credit score at all nor do they provide a loan, but they can be used anywhere VISA or Mastercard are accepted as a payment method, it just needs to be money from your own pocket.

How can I get approved for a credit card?

Unfortunately, there is no easy solution to this; you need to clean up your credit report and show that you're capable of borrowing responsibly.

While the best option for finance is to rebuild your credit history, there are a few options available if you find yourself needing a loan with a bad credit score. (link to bad credit personal loans)


Credit Cards for Bad Credit in Australia rating: 4.5/5 from 25 votes.

Operator

Loan comparator Strayaloans.com:
double technology s.r.o., VAT: CZ08695717
The company is not the provider of any financial product.

About portal

Strayaloans.com is loan comparison site. We are building on the transparency and completeness of information. With our services, you will know which loan to choose.