Adverse credit card is really a credit card that the credit card providers offer to the people who have bad credit . Did that astonish you? Well, don't let your thoughts run just yet.
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You can classify bad debt credit cards into 2 categories based on what you infer by poor credit credit card.
The first category of adverse credit cards is those cards that are secured (and are also known as secured credit cards).
These bad debt credit cards require a security i.e. you have to open (and maintain) a bank account with the bad debt credit card supplier.
The credit limit on your bad debt credit card is calculated as a percentage of the balance you have in the bank account you have opened with the credit card supplier. Generally, this is 50-100% of your bank account balance.
So, this credit card enables you to spend the amount you hold in your bank account; only the way you spend it changes (i.e. rather of spending that as cash you spend it using your bad debt credit card).
So poor credit credit card lets you enjoy the convenience and other benefits that are associated with credit cards, even with bad debt.
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The other category of adverse credit cards are nothing unusual, they are the same cards that we know of most commonly; the only difference is in the way you obtain them and the objective behind obtaining them .
Here, we are talking about the credit cards that you use as a debt integration mechanism i.e. consolidating bad debt (as such any debt is bad). So we can call them bad debt credit cards too .
These operate by transferring of the balance you owe on your current, high interest credit cards to these bad debt credit cards that have a lower APR (at least for some initial period). Hence, these credit cards help you in consolidating your debt and getting some relief from the higher APR that you were experiencing on your current card.
Some folk accept both of these categories of credit cards as adverse credit cards while others tend to go with one or the other. So, what you think of as a bad debt credit card is really a case of personal preference .