One of the biggest downsides to unsecured credit cards for bad credit is the cost. Not only do most options charge high annual fees and high interest rates, but a large number of them also charge processing or program fees that add an extra $50 or more onto the upfront cost of the card. An unsecured credit card requires no security deposit and is a true line of credit from the card issuer. A drawback to these unsecured credit cards for bad credit, however, is that they typically come with high fees and a high interest rate or APR. When you have poor credit, the best time to apply for a new credit card is when your finances are in order. This means any bankruptcies should be fully discharged, and you should have a source of income and can afford to pay all of your monthly bills. Lines of Credit for bad credit, find, compare and apply for credit cards, loans, repair your credit, consolidate debt - 131. A line of credit gives you the chance to have easy access to extra side money whenever you need it and you only need to apply once. If approved, you can access your funds up to your credit limit. Apply for a line of credit with MoneyKey today! Compare top credit cards for bad credit. Establish or re-build your credit quickly. Credit Lines up to $2000+. Apply Now. Credit card options within the poor credit category are typically narrower than those in the good or fair categories. Not sure what your score is? Sign up for an account with CreditSoup to get your free credit score. The best credit cards for bad credit have annual fees as low as $0, and some even give 1% cash back rewards on purchases. Plus, all major credit cards for people with poor credit report account information to the credit bureaus each month (some offers are sponsored). Most financial institutions offer unsecured personal loans to consumers, even if they have bad credit. Consumers with very poor credit scores may be able to obtain personal loans for more than $50,000. However, these personal loans typically aren't available to individuals in bankruptcy.