Credit Cards For Very Bad Credit: 300 – 560

300-560 Very Bad Credit Rating. Very bad credit is expensive. It tells lenders that you have had serious problems meeting your payments in the past. You may have had a foreclosure on your home or a bankruptcy in your history. Lenders will be extremely wary of approving your application and issuing you a loan. They aren’t sure they’ll get their money back, and they aren’t sure if you have assets to use as collateral. Scores at the very top of this range may just barely qualify for a very high interest rate unsecured loan. A score of 499 or less usually means a definite rejection.

Minimum Security Deposit
CREDIT CARD NAME
ANNUAL FEE
PURCHASE APR
KEY BENEFITS

Discover it® Secured Credit Card

$200 deposit
Discover it® Secured Credit Card
Rewards
Balance Transfer
No Annual Fee
Secured
ANNUAL FEE:

$0

Purchase APR: 24.99%%

Key Benefits:
  • Travel (1)
  • Sign Up Benefits (2)
  • Services (1)
  • Security (5)
  • Insurance (1)
  • Fees Benefits (2)
  • Discounts (1)
Credit Score: Very Bad

Wells Fargo Secured Credit Card

$300  deposit
Wells Fargo Secured Credit Card
Secured
ANNUAL FEE:

$25

Purchase APR: 20.99%

Key Benefits:
  • Travel (2)
  • Services (1)
  • Security (3)
  • Insurance (3)
  • Fees Benefits (3)
Credit Score: Very Bad