Even if you were turned down for a credit card or have such bad credit that nobody will lend to you, it is still possible for you to get a valid credit card. That’s right, even if everyone has rejected your credit card applications the chances are extremely high that you can walk into your local bank and walk out with a brand new MasterCard or VISA Card that will work credit cards are accepted. Use it for groceries, to buy gas, to shop at the mall, to purchase souvenirs while on vacation, or to rent movies or pay for a fancy meal in your favorite gourmet restaurant.

The kind of card you want is a “collateralized” credit card, because it has collateral or actual cash to back it up in the event you fail to repay your balance. Ordinary credit cards, on the other hand, are not backed by anything but good faith – which is why lenders and credit card issuers will not grant you one unless they think you have a strong record of repaying your obligations. But if you get a collateralized credit card it will be tied to your checking or savings account in much the same way that an ATM card is connected to that kind of bank account.

Your bank will put a limit on how much you can spend based on how many dollars are held in your matching bank account. Put $500 in the credit card bank account, for example, and your bank will typically issue you a credit card with a $500 spending limit. As you spend money during the month, the limit shrinks – just as it does on a conventional credit card – and when you repay the card by paying off your outstanding balance then the limit goes back up. The major difference is that with money in the account to back up the credit card you are able to get a VISA or MasterCard when you would otherwise be totally refused and rejected.

The best feature of these unique credit cards, however, is that they give you a way to build up your credit rating. Once you get one and start using it responsibly, make sure your bank reports the account activity to the major credit rating services on a regular basis. Before long you will have good enough credit that you will be able to apply and get your own traditional style non-collateral credit card, even if you were rejected in the past.