Not many are aware that the credit score plays an important role when it comes influencing your financial profile. For one, it affects your ability to borrow funds. Additionally, it also helps improve your score with the right usage. This is no different when applying and using a credit card. But if you are planning to opt for a credit card when you already have bad credit, there are certain factors you need to keep in mind. For one, your low credit score will make a difference on whether your application is accepted or rejected. Additionally, it also determines the rates of your card. But with the right usage of the credit card, you can easily correct your credit score to an acceptable rate. So what are the credit cards offers you need to take advantage of to improve your score? Given below are a few suggestions: Secured credit cards: This is one of the most beneficial cards you can use when you have a low score. Although cards come under the category of unsecured options, secured cards can be obtained, if you only provide an equivalent collateral. However, in this case, the card rates will be considerably low, as compared to the other ordinary cards. You will also have a lower card expenditure limit, which may restrict your expenditures. However, with the right implementations and usage, you can easily limit excessive expenditures and improve your credit score at the same time. Credit tracking apps: While there are plenty of means that your score can be affected, one of the main cause for it is over expenditure. Although a credit card can be very convenient to use, very often card holders get carried away with the expenditures and end up overusing it. This leads to high debts as compared to the income, which in turn affect one’s credit score. Credit tracking apps are one way you can keep track of the expenditures you are making. You can easily download the app when you apply for the credit card, which will be synced to your account. Once you make an expenditure, it will automatically track it thus providing you with insight on your expenditures. Upgrade to co – branded cards: While your secured card will offer you a safety precaution against over expenditure while improving your score, it is only a short term solution. During the duration of the usage of the card, you will need to provide collateral. However, you can always upgrade to a co – branded card that will work towards your benefit. For example, if you frequently travel between cities, you can opt for a travel card that allows you to collect points. Similarly, this can work for the purchase of retails products or even movie tickets. Such card offers will go a long way to improving your score while allowing you to save on your expenditures.
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