Credit cards for a 630 credit score are available in a variety of forms. You can choose from an unsecured or store credit card. A business credit cards is also available. When choosing the right credit card, it is important to consider your credit score.
Unsecured credit cards
If you have a credit score of over 630, unsecured credit cards can be applied for with a high limit credit. These types of credit cards can offer lower interest rates and better rewards programs. Many unsecured cards offer introductory deals that include cash back, bonus miles, points, and/or bonus miles. They may also offer a 0 Percent APR period that allows you to make purchases without having to pay interest. Unsecured credit card can still be a great option, even if you don’t need an introductory period.
Unsecured credit cards may require a deposit. But, the best ones for 630 credit score aren't limited to that amount. Unsecured cards require a smaller security deposit than secured credit cards. This can be as low at $200. Unsecured credit cards are an attractive option for people with lower credit scores.
Store cards
Many credit cards are available for those with a credit rating of 630 or less. The Surge Mastercard, for instance, helps consumers rebuild their credit score by reporting on-time payments to the credit bureaus. This card, issued by Continental Finance, offers a credit line of $300 to $1000. After six months of responsible credit use, the limit can be raised to $2,000 for a short time. You also get a $99 security deposit or $200 refundable guarantee with this card.
Another option is the Credit One Bank Visa for Rebuilding Credit. This card comes with a rewards policy that gives you 1% cashback on eligible purchases. It is easy to apply for this card. The pre-qualification process will let you know if your credit is good enough.
Secured credit cards
Low credit scores can benefit from secured credit cards. These cards don't require an annual fee. Cash advances and balance transfers are subject to fees. A late payment or returned payment charge of $40 can also apply. For people who are interested in building credit or rebuilding their credit score, secured credit cards are a good option.
Secured credit cards report your transactions to major credit bureaus. This helps you build a positive credit history and a higher score. You can also pay your secured card account in monthly installments. This is an option for people with lower credit scores who need to be able to afford a creditcard.
Business credit cards
A business credit card may be a good option if your goal is to improve your business credit score. These cards are designed to help you build a business credit history and secure the best business loan rates possible. A card with rewards can help you separate your personal and business expenses. The drawback to business credit cards is the higher fees and interest rates that are charged than personal cards. But, it is important that you remember that any business credit card balances may have an effect on your personal credit score.
It is vital to review all terms and conditions before you apply for a business credit line. Many companies will only approve applicants who have excellent credit. It is important to understand the minimum credit score needed before you apply.
Cash back credit card
If you are looking for a creditcard with cash back rewards but have a score of 630, there are options that have a lower APR as well as a higher credit limit. A secured credit card such as the Surge Mastercard can be applied for. This will report your timely payments to credit bureaus. This card will offer you up to a $2,000 credit line after six months of responsible use. You'll also receive a credit score report with your monthly e-statement.
The Discover it card is another option for low credit scores who want cash back credit cards. You will earn 2% cash back when you purchase gas stations or restaurants. The annual fee is zero. You can use it to make purchases at Amazon and Uber, where you will earn 1% cashback.