Undergoing credit repair can be quite a challenge. But it’s an ideal opportunity to do some research and discover which 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.
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.
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.
- 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®
Raising Your Credit Score
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.
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, Premier Credit Offers 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®
- 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.
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 you 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. 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.