The most annoying thing about credit cards for bad credit is their high interest rates. However, you can do something about the interest rate. It is possible to negotiate better credit card terms regardless of how high your interest rate is, even if you are stuck with credit cards for bad credit.
The first and best trick to try is merely to call your credit card issuer and ask them for a better interest rate. A national survey found that 56 percent of the time, credit card companies offered lower rates to customers as an incentive to not switch credit card companies if the customers telephoned to say that they had gotten a better offer and were planning to leave. They dropped an average of five or six percentage points off their annual interest rate, and some of them got perks like zero percent interest for six months. One customer with an exorbitant interest rate managed to reduce it by more than half, encouraging news if you have a credit card for bad credit. If the credit card company refused the customers requests, the customers suffered no penalties. As long as you are polite as well as persistent, asking your credit card company to drop your interest rate offers you no risk and an excellent chance for success.
The same method can be useful for convincing your credit card company to waive your annual fee. If you would like a different due date or want to transfer to a different rewards program, you do not even have to claim you are planning to leave for a different company. Just ask politely.
Even if you originally got your card under terms designed for credit cards for bad credit, you can improve the terms substantially, perhaps even to the level enjoyed by premium credit cards. You are most likely to get drastic improvements if you have had your card for at least two or three years (four or more years is ideal), have paid on time for the last year or two, and are using a small percentage of your available credit. Even if you have had a credit card with your issuer for under a year, though, or have made late payments or used much of your line of credit, you may be able to convince your credit card company to improve your terms. A little civil persistence can do wonders for your credit card terms. It will not hurt you to ask.