It’s very difficult to obtain credit with a negative credit history. it expected that you have a good credit history before approval would be given to you for a credit card, but you won’t be able to improve to your credit score except if you have a credit card. Fortunately, there are a few credit cards on the market for consumers with bad credit. Here are some of them:
8 Credit Cards to Get for Bad Credit | Capital One Secured MasterCard a Card Good For Low-Security Deposit:
The Capital One Secured MasterCard allows you to make a minimum security deposit of $49, $99 or $200 for a $200 credit limit. Your credit history dictates if you qualify for one of the lower security deposit amounts. A bank account is also required so you can pay your security deposit. Capital One will consider you for an automatic credit limit increase without an additional security deposit after a quick monthly payment in five months. With this card, you get access to CreditWise, a free credit monitoring tool that helps you stay on top of your credit score.
8 Credit Cards to Get for Bad Credit
Discover it Secured a Card Good For Earning Rewards
The only card that allows customers to earn rewards on payments made is the Discover it Secured you can begin with a minimum security deposit of $200. Then, earn 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter, plus 1% cash back on all other credit card purchases. Discover matches all the cash back you have earned together at the end of your first year. You can redeem your rewards at any time for any amount and automatically at Amazon.com.
Citi Secured MasterCard the Best Top-Tier Secured Credit Card:
Citi Is one of the major credit card issuers. Good account management with your secured credit card can make you to qualify for one of their better credit cards. With the Citi Secured MasterCard, you can make a security deposit of about $200 to about $2,500 during your application period. Your deposit becomes your “Collateral Holding Account” for a period of 18 months.
First Progress Select MasterCard Secured Credit Card is Good When You Have For No Credit:
The First Progress Select MasterCard Secured Credit Card has a low interest rate compared to other secured credit cards. Monthly interest charges won’t be as expensive as with most other credit cards if you must have a balance. You will be approved once you can place a minimum security deposit of $200. The annual fee of $39 is assessed on your credit card from the date your account is opened.
OpenSky Secured Visa Card For No Bank Account:
The OpenSky Secured Visa doesn’t pull your credit when you apply which means there’s no impact to your credit score from a new credit inquiry. You can pay the security deposit with a Visa or MasterCard debit card, which is a plus because many secured credit card issuers require you to use a bank account. You can always apply to have your credit limit increased after opening your account. As soon as your application is approved, OpenSky will allow you to make any extra deposit so you can have the credit limit increased and may charge an extra fee for this.
Wells Fargo Secured Visa For Large Security Deposits:
The Wells Fargo Secured Visa is good when you have capital and want a credit card with a high credit limit on your credit history. This card becomes a great option for that.
Your security deposit is placed in a non-interest bearing account until your credit card is closed or upgraded to an unsecured credit card. There’s no preset time for your account to be upgraded. Whether you’re upgraded at all depends on how you manage your Wells Fargo Secured Visa and any other
DCU Visa Platinum Secured Credit Card For No Fees & Low Interest:
The DCU Visa Platinum Secured credit card is a card that you can be approved for with low interest rate – even lower than many credit cards for people with excellent credit. The card doesn’t charge an annual fee or any transaction fees. The penalty APR is only 18% – still lower than the regular APR on many non-secured credit cards.
The card comes with several other perks like free auto rental collision damage waiver, optional overdraft protection, free travel insurance coverage, and extended warranty on most of your purchases.
Indigo Platinum MasterCard For For Previous Bankruptcy:
You can get pre-qualified right on their website to determine the possibility of your approval. A decision will be communicated to you in 1min. A previous bankruptcy won’t be held against you, depending on your other qualifications. This is a regular credit card, it doesn’t require a security deposit. If you’re approved, you’ll receive a $300 credit limit and the option to add a custom credit card design.
8 Credit Cards to Get for Bad Credit