When looking into credit cards that are available to people with poor credit, it is important not to lose sight of the bigger picture. Make sure that the card you choose offers credit bureau reporting and fraud protection. This will ensure that your card works well. A card that does not charge an annual fee is a good option. This will help you avoid unexpected costs later.
Discover it Secured
The Discover it Secured credit line is one of the most affordable credit cards for poor credit. You can receive up $2,500 credit limit with a $200 deposit. In addition, you have many great benefits. This card comes with cash back rewards as well as no annual fee.
One of the best aspects of Discover it Secured Credit Cards is the fact that accounts are reviewed after seven month. If your account is still active after seven months, you will receive a refund of your security deposit. You will also be able to receive alerts about identity theft.
It is important to have a credit card that you can trust. Discover it Secured has no annual fees and offers many benefits. Its rewards program is generous and rewards good spending habits. It's also easy to change from a secure account to an unsecure one. After you open an account, seven months later, the company will review it and determine if it is suitable for an unsecured card. The company also returns the security deposit if you fail to meet payment requirements.
U.S. Bank Secured Card Cash+ (r) Visa(r).
U.S. Bank's Cash+ Visa Secured Card can be used by people who want cash back on purchases. The card gives you 5% cashback for certain categories, and 1% for others. It doesn't have an annual fee and you can choose the cash back categories that you wish to earn in each month. You don't have to spend more than you can afford on this card. The cash back rate you get is calculated based on how much you spend.
If you're a beginner in credit cards, the U.S. Bank Cash+(r) Visa Secured Card is a great option for building credit. You can convert it to an unsecured card easily, earn cash back, and there is no annual fee. The card also reports to the credit bureaus. You'll also enjoy higher rewards opportunities if you spend more in certain bonus category.
Merrick Bank Double Your Line(r) Mastercard(r)
Merrick Bank offers a zero-annual-fee credit-card for bad credit. It also has a generous credit limit increase of $2700 in a single year. The card lowers your credit utilization ratio, which can help increase your credit score. Credit cards also report to the major credit reporting agencies every month, which allows you to build your credit history while still making timely payments. After your first year, the bank will conduct regular reviews to ensure that you are paying your bills on time. If you maintain a good payment record and pay on time, the bank might increase your credit limit.
Merrick Bank Double Your Line MastercardTM has a credit limit of $550 to $1350. After three months, it doubles to $1100 to $2700. It is simple to use this credit card to build your credit. Your monthly payments are reported to the three main credit reporting agencies. You can also access your FICO credit score for free each month.