Undergoing credit repair can be quite a challenge. But it’s an ideal opportunity to do some research and discover which bad credit, credit card may work best for your circumstance. Below we will briefly go over which unsecured cards are currently easy to get and will help boost your credit score over time.
What Is The Lowest Credit Score To Get A Credit Card?
There is no minimum credit score if you want a credit card. However, your options will be limited, and the annual percentage rate and fees will be high. So, what is the easiest card to get with bad credit?
Having a low credit score can make getting any credit card or loan exceptionally difficult. In any case, applying for a secured card is usually the recommended first step toward rebuilding or even building credit.
Secured Cards Are Easy To Get
With a secured card, you actually put money up front in your account, which the backer holds as a guarantee. Should you fail to pay your bill on time, these funds are used to pay off the card. Your credit limit is equal to the amount you have put in the account.
This arrangement decreases the banks’ liability. For this reason, secured cards are a good possibility to help individuals boost their credit worthiness. The following are some good choices to get you started. The best credit cards for bad credit with guaranteed approval include:
Credit One Bank® Unsecured Visa® Credit Card
Indigo® Platinum MasterCard®
Milestone® Gold MasterCard®
Total VISA® Unsecured Credit Card
Discover it® Secured Credit Card–No Annual Fee*
Capital One® Secured MasterCard
Secured Visa from Merrick Bank
USAA Secured Card® American Express®
Applying for one of these cards could be a decent initial step to a new beginning.
In order to raise your credit score, you should be determined to set aside your monthly payments in advance. If possible, use the card for just a few small purchases.
Perhaps a tank of gas or few groceries. When the bill comes, try to pay it in full and as soon as possible. Waiting until the day it is due is not the best practice. Stay well within your credit limit. Positive data will get added to your credit report every month and will weaken the impacts of past negative reports.
Compare Offers
Before you apply for a charge card for poor credit, compare offers. Choose a company with a good reputation. Compare all fees as well as interest rates. Call their customer service department so see how they respond to your inquiries. You want a credit card company that will treat you with respect and dignity despite your past credit history.
Deeper Card Research – What We Looked For
A secured card is unquestionably the best sort of card for individuals looking to rebuild their credit. Securing your card with your own funds is an incentive to make sure you make timely payments. Check with the company to see at what point those funds will be refunded to you.
All things considered, Best Financial Information editors looked at many cards-both secured and unsecured–and have decided the accompanying offers to be the best at this time. For whatever length of time that you utilize one of these cards capably, you will be gradually restoring your credit worthiness.
Best Credit Cards For Bad Credit
If your credit score is lurking at 650 or below, then you could consider the accompanying cards to remake your credit.
While there are loads of cards and “credit accounts” accessible, the cards and guarantors we have highlighted have the minimum charges and, by and large, more sensible rates. To emphasize, make sure you take the time to compare. It can very well save you money.
ExcentTM Secured Blue Visa Card
Credit One Bank® Visa® – No Deposit Required
NASCAR® Credit Card from Credit One Bank®
Fingerhut Credit Account
Indigo® Platinum MasterCard®
Milestone®
Primor Secured Credit Card
Capital One Cards
In addition to the above cards, be sure to check out Capital One. This company has a card for nearly every credit situation. For example, their Platinum card has no annual fee. For rebuilding credit, it’s an excellent card, as it reports to the three major credit bureaus where your scores are generated.
Initially, you will receive a $200 credit limit with a security deposit as low as $49. Depending on how bad your credit really is, you may be required to give a higher deposit of $99 or even the full $200. However, after making only 5 payments on time, you will be qualified for a credit increase.
Capital One Quicksilver Credit Card
Are you looking for bad credit credit cards with an annual fee of $0? Then you should choose the Capital One Quicksilver Credit Card since it has numerous rewards and other features that are ideal for people with a bad credit score.
With these bad credit credit cards, you’ll receive a 1.5 percent cashback on each purchase you make, and this may be better than what other cards have to offer, even when you have a good credit card score. The card usually reports to different credit bureaus, and your credit limit will be reviewed after six months to determine whether you’re eligible for a higher amount. Eventually, you can upgrade to having an unsecured card.
Capital One Platinum Secured Credit Card
Has your credit been damaged but not destroyed? Are you looking for bad credit credit cards you can qualify for? Consider the Capital One Platinum Secured Credit Card since it will also help you rebuild your credit score.
Most of the secured cards need a deposit that will be equal to the credit line, which means you need a deposit upfront. With the Capital One Platinum Secured credit card, the credit limit is $200 for a $49, $99, or $200 deposit. You may also make the deposits in installments, which is why this is among the best bad credit credit cards. You’ll also be eligible for a high credit limit, and there won’t be additional deposits within six months.
Citi Secured Card
The Citi Mastercard is another option for a good secured card. You will need a security deposit for the entire amount of your credit limit. However, since they report to the major credit bureaus, you will be on your way to a higher credit score.
What we like about this card is you get to choose your payment date as well as receive alerts when your payment is due. This will help you stay on track as you work to build or repair your credit.
Open Sky Credit Card
If you haven’t looked into Open Sky yet, you should. This company requires no credit check. Whatever deposit you provide is what your limit of credit is. A minimum of $200 is required to receive a card. In addition, they also report to the major credit bureaus so your credit history begins to build as you use your credit in a responsible way.
If you’re struggling to rebuild or build your credit, you can opt for the OpenSky Secured credit card. It is also a suitable option for people who lack access to traditional banking services. You may apply for a new account for a limited time, and you’ll receive a credit line that’s unsecured after making payments on time three times consecutively.
Unlike other bad credit credit cards, there is no credit check required. So, even with a bad credit score, you still qualify for this credit card. However, you’re supposed to meet the income standards. Also, there is no need for a bank account, which sets this card apart from the rest. You can deposit funds and pay bills using a wire transfer or a debit card.
Keep in mind there is an annual fee of $35 but well worth it if you are not inclined to have a credit check done.
Chime Credit Builder Visa
The Chime credit card doesn’t have a minimum deposit requirement, and there are no annual charges or interest, which is why it is among the best bad credit credit cards. Also, there is no credit check, and the payments are automated, so you’ll never be late. However, to get it, you’re supposed to be a customer of Chime banking.
Funds usually back the card in a linked account instead of a security deposit, which means you can add funds at any time. With this card, you cannot spend more money than what’s in your account. When payment is due, the funds are deducted automatically. It works similarly to a prepaid debit card; however, it helps in building credit.
Mission Lane Visa Credit Card
Although there is an annual fee, the Mission Lane Credit card is among the reasonable option for people looking for bad credit credit cards, especially if you want to rebuild or build your credit without a security deposit. Before you apply, the issuer will inform you whether you qualify.
The pre-qualification process usually shows the offer that you’re eligible for if you’re looking for bad credit credit cards, depending on your credit score. After approval, your account will be reviewed by the issuer for the potential increase of your credit line. The annual fee range is normally lower compared to what you may be charged for other no-deposit cards.
Discover it Secured Credit Card
This credit card’s features and rewards are better than other unsecured cards. With these bad credit credit cards, there is an annual fee of $0, and there is a reward of 2 percent cashback for amounts totaling $1,000 when spent on gas and restaurants. A one percent cashback applies to other forms of spending. You need to handle your account responsibly for at least six months, and it will be reviewed for a possible upgrade to unsecured bad credit credit card.
