If your credit score is low, getting a credit card for rebuilding your credit may be your first challenge. But there are options. And, once in hand, you can use that card to work toward rebuilding your credit.
For people with low credit scores, there are credit cards designed to help build credit from scratch. They might not come with any bells and whistles, but they can be good starting points. But if your credit score is 500 or less, you may need to enlist a cosigner or apply for a secured credit card. Secured cards require a refundable security deposit, which becomes your credit limit. You’re sort of borrowing from yourself, but consistent charging and making payments on time show that you’re financially responsible and begin to rebuild your score.
If you’re getting your first credit card, you might be able to find one with a 0% introductory annual percentage rate (APR). This can help you avoid the potential perils of accrued interest, if only for a few months.