Consumer Credit Counseling

Charge Cards offered by retailers and specialty stores are usually a bad credit card. Retail charge cards have exorbitant interest rates.

A bad credit card to have is the Macy's credit card, with its 23.99% interest rate and credit cards from J.C. Penney, American Eagle Outfitters, Gap, Sears, Brooks Brothers, J. Crew and Dillard's all have rates over 20%.

Bad cash-back credit card
Money Return Platinum Plus Visa from Bank of America

Bad  subprime credit card
Centennial Gold MasterCard from First Premier Bank
This bad credit cards caters to folks with bad credit,  and this subprime card has a 9.9% fixed rate, a good rate for any subprime credit card, but when you look further you will find many additional fees.

Bad Credit Credit Cards
Bad credit credit cards are offered by many banks as financial tools to help people re-establish their good credit rating.

There are two types of bad credit credit cards:

Secured Bad Credit Credit Card:
With this type of bad credit credit card, the bank will require you to deposit cash into a savings account (i.e. $500-$1,500). The bank will then issue you a card with a spending limit equal to the amount deposited with the bank. The money you deposit serves as collateral for use of the bad credit credit card. If you fail to pay your credit card balance, the bank will use the money in the savings account to pay the balance.

Unsecured Bad Credit Credit Card:
With this type of bad credit credit card, the bank will issue you a low spending limit (i.e. $300). However, you will not have to deposit any money (for collateral) with this type of card. The bank will increase your spending limit over time as you prove your ability to make the monthly payments.