If you have bad credit, it is safe to say that you’ve had difficulty getting financial assistance in the form of loans or a new credit card. Finding a credit card company that will give you a worthwhile card that can help you rebuild your credit history can be hard, but it’s not impossible. There are several cards out there which are meant for people just like you who may have made some financial mistakes along the way but hope to get back on the right track with a little help.
The Best Credit Card Offers for Those Less Than Perfect Credit
Bad credit isn’t something that should follow you around for a lifetime. And with the right type of credit card that can help you out financially, you can take your poor credit history and get started on the path to financial freedom with the credit that you deserve. Here are the best credit cards for people with bad credit for you to consider and apply for.
Capital One Secured Mastercard
The Capital One Secured Mastercard is one of the best credit card offers out there for people who are struggling to get their credit score back on track. With a low deposit, and no annual fee, this card has everything you need to restore your credit back where it needs to be. This card is designed for responsible card use. And unlike a prepaid card, it helps build credit anytime it is used responsibly. The Capital One Secured Mastercard will report back to three major credit bureaus. And if approved, you will get an initial credit line of $200 after you make the low security deposit of either $49, $99, or $200, based on your credit worthiness. This card has a regular APR of 24.99% and is recommended for applicants with a credit score between 350 and 629.
OpenSky Secured Visa Credit Card
The OpenSky Secured Visa Credit Card is the best credit card with no credit check. OpenSky believes in giving everyone the opportunity to build strong credit. There is a refundable deposit requirement that you provide which becomes your credit line limit. You can choose the amount yourself, which can be as low as $200. This Visa card allows you to build up your credit fast and OpenSky reports regularly to all major credit bureaus. This secured Visa card has a Regular APR of 18.64% and is recommended for applicants who have a credit score between 350 and 689.
Discover it Secured Card
The Discover it Secured Card is one of the best credit card offers if you are looking for an option with no annual fee. This card allows you to get cash back on every purchase as it helps you build a strong credit history. The secured credit card requires you to make a security deposit up to the amount that Discover approves for you, which will be at least $200. This is to help you establish a secure credit line. You will need to provide your bank account information when you are submitting your deposit. Discover automatically starts reviewing your account during the first 8 months of use. After that, the company will decide if they can transfer you to an unsecured card. This card has a regular APR of 24.24% and is recommended for those with a credit score between 350 and 629.
Digital Federal Credit Union Visa Platinum Secured Credit Card
This secured credit card offers rates that are below the national average to give you a good head start on your road to perfect credit. The DCU card will allow you to borrow against your savings account so that you have even more financial freedom. There is no annual fee and the regular APR is 12.75%. This Visa credit card is recommended for applicants with a credit score between 350 and 850.
Wells Fargo Secured Visa Card
The Wells Fargo Secured Visa Card is another good option for those looking to rebuild their credit. It has a high potential for a generous credit limit over time if you use the card responsibly. You can start out with a credit line of $300 with the possibility of a limit up to $10k in the future. This is a good option for anyone who has bad credit, but you will need to have cash available for a large security deposit. If used responsibly, this card can help you graduate to an unsecured card. The annual fee is $35 and the ongoing APR for this card is 19.99%
Credit One Bank Platinum Visa for Rebuilding Credit
The Credit One Bank Platinum Visa is probably the best option for someone with bad credit needing an amount equal to an emergency loan. Are you looking to cover vehicle repairs? What about unexpected medical expenses that you can’t afford up front? With this card, you will pay up to $75 in first-year fees for an initial credit line of $300, but this is probably the best offer you’ll get. You can even receive cashback rewards. There’s no one-time fee for application processing, as well as no monthly fee. The APR for this card entirely depends on creditworthiness. It could be well over 20 percent, mainly if you have damaged credit. Try to pay for the charges as quickly as you can.
We all make mistakes and unfortunately many of us make bad credit decisions as young adults that come back to haunt us in the future. If you are looking for a reliable credit card that can help you rebuild your poor financial history, these secured credit cards are a great place to start.
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