The best catalog credit cards for bad credit are the Fingerhut Credit Card, Group One Platinum Card, and the Montgomery Ward Credit Account. Catalog cards, also known as Merchandise cards, are targeted to people with bad credit and have minimal requirements in order to qualify. Applicants generally need to have an active checking or savings account and proof of income. In most cases, they don’t require credit checks.
Catalog cards are not affiliated with a card network such as Visa or Mastercard. They’re store cards that you can use only for purchases within their affiliated catalog. Some catalog cards come with numerous fees that will eat up a huge chunk of your credit limit.
Here are the best catalog credit cards for bad credit:
The Fingerhut Credit Card purchases are limited to the fingerhut.com catalog. Credit limit varies based on creditworthiness and monthly account activity (purchases and bill payments). The card’s annual fee is $0. The monthly and one-time fees are also $0. The card reports to all 3 major credit bureaus. It has a 29.99% regular APR.
The Group One Platinum Card can only be used for purchases through the Horizon Outlet website. $750 merchandise credit limit upon approval. There is a $0 annual and one-time fee. However, the card charges a monthly fee of $14.77. The card reports to at least one of the 3 major credit bureaus. There is no employment and credit check.
The Montgomery Ward Credit can be used for purchases through the Montgomery Ward website. Variable credit limits, depending on creditworthiness, purchases and payments. The card has a $0 annual fee. It doesn’t charge monthly or one-time fees either. The card reports to at least one of the 3 major credit bureaus.
Catalog cards for bad credit are good only if you’re a frequent shopper on the card’s online store. If you’re serious about building credit, you’re better off with a secured credit card such as the Bank of America Custom Cash Secured Card or the Capital One Platinum Secured. You’ll have to pay a refundable security deposit upfront, but you can use the card practically anywhere. Plus, you won’t be saddled with excessive monthly fees.
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