Do you have bad credit or no credit at all? Do you still need a credit card to help improve your credit report? Don’t worry. There are several companies that offer credit cards to people with less than perfect credit. If you don’t have perfect credit, but need a credit card, check these out.

1. Orchard Bank Classic MasterCard. If you are notorious for making late payments, this is the card for you. You can get emails and text messages to remind you about upcoming payments. Transactions are also updated so you can keep track of your account 24 hours a day, 7 days a week.

2. Tribute Gold MasterCard. Designed for people with bad credit. You’ll pay a slightly higher interest rate, but this card will help you get back on track. You’ll also be approved in a matter of minutes.

3. Vision Premier Prepaid Visa. Do you think that there is no way you can get a credit card with a credit report like yours? Get this card if you are worried. There is no credit check or bank account needed with this card. The prepaid credit card is the perfect way to give you good credit card habits before getting a different card.

4. Applied Bank Secured Visa. This card has it all. You’ll get a rate of 9.99% APR. Guess what? The rate won’t even change if your late on a payment. You get to choose your credit limit up to $5,000, with a minimum deposit of $200. There is no credit requirement. It gets even better…this card reports to the credit bureaus. This card is perfect for helping you build your credit.

5. Access Visa. You’ll get a quick decision when applying for this card. If you have bad credit or no credit, you need to give this card a try. It also reports to the credit bureaus.

It isn’t a problem to have bad credit or no credit anymore. Lenders are becoming more willing to lend to people just like you. These cards are designed to help you get back on your feet. Give these cards a try and see your credit improve.

As with other things in life, it pays to be responsible. It is so important for your financial freedom to have good credit and maintain as high of a credit score as possible. Nowadays, people with bad credit are given more opportunities than ever before. What they don’t realize, however, is that they are paying a horrible price. Here are five major reasons that a “bad credit” credit card can cost you hundreds or even thousands of dollars each year.

1. Interest Rates. If you have bad credit, you can still get a credit card. But, do you know how much your interest rate will be? Your interest rate will be considerably higher if you have bad credit. This is because you are viewed as a financial risk. Lenders will only give you a high interest rate until you have proven that you are no longer a credit risk. With bad credit, you probably won’t ever be offered a credit card with 0% APR. Instead, your introductory rate will be at least 15%.

2. Processing fees. Get prepared to pay a one time processing fee if you have bad credit. Lenders say “one time processing fee” to make it sound nominal. However, this is not the case. You will be charged a processing fee to cover the risk associated with lending to you. Save yourself money by only having good credit.

3. Annual fees. There are many credit cards available with no annual fee. If you have bad credit though, don’t expect to qualify for one of these cards. Once again, you’ll be charged an annual fee to cover the risk of lending to you. Annual fees aren’t just $20 per year. You could pay hundreds of dollars per year to have a “bad credit” credit card. Many credit card issuers will also charge monthly maintenance fees to your account.

4. Late payment fees. You certainly won’t be paying $10 late fees if you have bad credit. Credit card companies increase your late fee depending on how bad your credit is. Not only will you be paying quite a lot more for late payments, but credit card companies will be quick to report your late payments to credit bureaus. Save yourself money and the added embarrassment of paying late fees by making your payments early.

5. Lower credit limits. You can expect a lower credit limit if you have poor credit. This is because of the financial risk associated with low credit scores. Lower credit limits can also lower your credit score based on the balance amount charged relative to the total credit limit amount.

As you can see, there are several ways a “bad credit” credit card can cost you more money. It would be better to take a few months and fix your credit before applying for a credit card. You will get a better interest rate, no processing or annual fees, lower payment fees and higher credit limits. Give yourself all the opportunities you deserve with good credit.