Top 5 Credit Cards for Bad Credit 2014

Top 5 Credit Cards for Bad Credit 2014

Here at Miyagi the content is built around subprime loans, but for this post we will be looking at one of the best alternative ways to source funding. The specific focus has been to pick out the top 5 credit cards for bad credit 2014 (after some initial insights). The rankings will be determined by the lowest APR figures. This is a massively popular sector, although much of the market share is taken up by Capital One and Vanquis. Each of these issue funds directly and also through partner brands. Any such subprime card is stripped down considerably. You won’t receive any 0% balance transfer or purchase deals here.

The rates are also much higher than the market leading rates commonly provided by the major banks. The APR figures here tend to float around the 35% mark. All of the big names provide account servicing and so it is easy to control these products that are generally taken out as long term borrowing solutions. The limits can eventually get high, but at application stage you tend to see restrictions of just a few hundred pounds. These cards for bad credit are designed to rebuild the scores of those that have faced past debt problems. Those new to borrowing are also a target audience since they are yet to establish trust.

Outside of Capital One and Vanquis, Aqua has been the biggest emerging brand. This is seen through their Advance product that can lower to 19.9% over time, although their standard rate is high. Just be aware that with every rate displayed below, most companies tend to offer these deals to perhaps 50% of those that apply whilst the rest are attached to a higher tier. This list will be updated should any changes come into play. The subprime sector doesn’t tend to change often though. This is of course much different with the banks, supermarkets etc who are changing their interest and deals on a frequent basis to edge each other out.

Top 5 Credit Cards for Bad Credit 2014

1) Aquis Visa Card: 29.8%

2) Aqua Advance: 34.9% (can reduce to 19.9% in 3 years)

3) Capital One Classic: 34.9%

4) Granite Card: 34.9% (issued by Vanquis who are also behind the #1 ranked Aquis)

5) Vanquis Visa Card: 39.9%.