Yes, bad credit credit cards may carry higher interest rates

You’ve undoubtedly heard that having poor credit keeps your interest rates high. It’s true.

On the other hand how many people can live without credit? Not a lot. Credit cards are the preferred payment for merchants on the internet and you’d have a very hard time booking a hotel without a credit card. You cannot fly without a credit or debit card. The airlines simply don’t accept cash.

For people with no credit or bad credit, the high interest rates are an inevitability but they don’t have to be as bad as they seem. Use credit for only those purchases that require it and pay your bill off as soon as you can. If you have the cash to pay the whole thing, do it. You will be charged no interest if you pay the bill in full when it’s due, making the interest rate irrelevant.