If your credit score is under 600, try these first.
When it comes to credit cards for people with bad credit, your choices are limited. But you don’t have to be stuck with a lousy credit card.
Below we list some of the best credit cards for people with bad credit. If your credit is too bad for an unsecured credit card (unless it comes with outrageously high interest and fees), then consider a secured credit card that requires a refundable deposit but often has better terms otherwise.
Unsecured Credit Cards for Bad Credit
card_name – No frills, but this no-annual-fee credit card has been the starting place for many people with poor credit scores who’ve been turned down by other credit card issuers.
As a result, the Capital One Platinum has a fan club of grateful cardholders who held it while building their credit scores to a place where they could qualify for one of Capital One’s generous reward credit cards. If approved, Capital One says you’ll be “automatically considered for a higher credit line in as little as 6 months.”
card_name – This popular Capital One credit card allows you to earn 1.5% cash back on all of your card purchases.
Note, however, that this version is tailored to those with lower credit scores, meaning it has a higher interest rate than the standard Quicksilver Rewards card as well as a annual_fees annual fee. Could be worth it as you work to build up your credit score, especially if you earn enough in rewards to make up for the annual fee.
Secured Credit Cards for Bad Credit
card_name – The Capital One secured credit card option has no annual fee, and you could be automatically considered for a higher credit line in as little as 6 months.
To get it, you’ll put down a refundable security deposit of at least $200 (in most cases) and get an initial credit limit of that same amount (or maybe a little more, depending on your credit history).
Otherwise, it functions just like any other credit card, and if you make your payments on time, it could be a building block toward a credit score that’s not so bad anymore.
Author: Adam Jusko