If you have found yourself in the position in which your credit rating is less than satisfactory, the one thing that may be able to help you is the bad credit credit card. You see the concept of fixing your credit rating is by making payments on time and doing this consistently over a period of time and thanks to these new credit cards you can do just that.
The bad credit credit card is specifically designed for people who are considered to be higher risk. These cards in most cases are issued by major crediting institutes like Bank One. When you first get the card, you may be required to place a deposit on the card in order to use it, although this need for a deposit is only temporary. As time goes on and you keep the balance on the card in good standing as well as making sure to make every payment on time, your limit will be increased to an amount slightly greater then your deposit. As time goes on and you continue making your payments on time, there will come a day when there is no longer a need for this deposit any longer. When this day arrives, you will know that you have made a good start towards fixing your bad credit standings.
Ultimately it comes down to putting forth the initial effort in obtaining the card as a prepaid one at first. Then assuming you do not miss any payments, within 6 months the card issuer will post a rating on your credit history showing your good payment history. This time may also see the first of many increases. Every six months a new rating will be added to your score and when you couple this with timely utility payments as well as monthly rents, within no time your credit rating will be greatly improved and you may even become eligible for other loans.
All of this can come down to something as simple as choosing to get a bad credit credit card, which you can get from almost any of the speciality high risk financial institutions. You will be glad that you did when you are finally able to purchase a new car or even a home, because depending on how bad your credit is, you can easily improve it in a couple years or so. It only requires the effort on your part and the willingness to increase your credit score for you to overcome virtually any bad credit rating without the need of having to file for a bankruptcy. Besides, a bankruptcy should only be seen as a last resort or when your debts become totally unmanageable.