How can I get a debit card with bad credit?
Getting a debit card is much easier for people with bad credit than getting a credit card. Banks usually issue debit cards for this category of customers without refusal. Let's consider the main steps of applying for a debit card without a credit check:
- Open a basic bank account with a debit card. This type of account is mainly intended for people with bad credit history, this account comes with a debit card and basic banking services without an overdraft. You can apply online to open an account with a card on this page, where all offers are collected. After comparing the conditions and choosing a debit card, click the "More" button. After going to the official website of the bank, you will need to fill out a special form, indicating your personal and contact data. An alternative way of applying is at a bank branch. In some cases, banks still check the client's creditworthiness, but approval is less dependent on the client's credit rating
- Consider a prepaid debit card. The peculiarity of such cards is that they are not tied to a bank account, but the card owner can top up and use it as a regular debit card (pay for purchases, pay for services, etc.).
- Open a standard bank account with bad credit. Not all, but some banks offer standard debit card accounts for people with bad credit. Compared to basic accounts, standard accounts may have more features and options for customers.
You can also place free funds on a savings account.
Calculate your future income on a savings account (example):
| Amount, $ | Rate, % | Accrued %, $ |
| 30,000 | 4.10% | 1,230 |
| 30,000 | 4.20% | 1,260 |
| 30,000 | 4.30% | 1,290 |
| 80,000 | 4.60% | 3,680 |
| 80,000 | 4.70% | 3,760 |
| 80,000 | 4.80% | 3,840 |
| 190,000 | 5.20% | 9,880 |
| 190,000 | 5.30% | 10,070 |
| 190,000 | 5.40% | 10,260 |
| 340,000 | 5.60% | 19,040 |
| 340,000 | 5.70% | 19,380 |
| 340,000 | 5.80% | 19,720 |
What should you pay attention to before opening a debit card?
In most cases, the possibility of overdrafts is not foreseen for such cards. However, it is worth remembering about possible fees, for example, monthly fees, fees for transactions, for replenishing or withdrawing cash, etc. In addition, it is worth taking into account the features and opportunities that the bank offers to owners of debit cards - whether mobile banking is well-developed, whether there is a good network of ATMs, etc.
