For people with a bad credit rating applying and being approved for a credit card can be a very difficult process. However, there are financial institutions that do offer specialist credit cards for people in this situation. These cards do have certain restrictions that may limit their appeal, but with proper use they can help you improve your credit rating so that you are eligible for a regular credit card.
The downsides of credit cards for people with poor credit are quite obvious from the beginning. Firstly, you will be required to secure the card with a cash payment or an asset (such as property or vehicle). Also you will only be offered a comparatively small credit limit and face tight repayment restrictions on your account. Some credit providers also charge a fee with your application to make sure you are serious.
If you use the card sensibly the credit provider will reward you with a higher credit limit and eventually a regular credit card. This type of credit card also has the added advantage of boosting your credit rating as long as you make all of the payments on time. It may take some time to boost a poor credit rating, but once it is back in the normal to good range you will find that you are eligible for many more financial products.