5 best cards for low credit score
See throughout this article the best cards for low credit scores and all information related to them and which area of operation each card is most suitable for.
Find the best credit card options for low credit score
If you are struggling with how to apply for a good credit card when you have low scores, then you have just found the best article with the answers. Because here we will help you on picking the best credit cards options for low credit scores.
So, read more and find out which is the right card for you!
Best for rewards: Discoverit® Secure Credit Card
The reason is this: this is one of the cards for low credit score that provides rewards for every purchase made and paid for with the card.
Discoverit® Secure Credit Card offers a 2% refund at gas stations and restaurants each quarter, with a maximum total consumption of $ 1,000 (after reaching the quarterly limit, 1%). In addition, you will receive a 1% cashback on all other purchases. Discover’s Cashback Match feature will also match all cashback received by new cardholders at the end of the first year.
Even if the card requires a security deposit of at least $ 200, Discover will refund your deposit amount after eight months of possession of the card.
The annual fee for the card is $ 0 and foreign transaction fees are charged. In other words, Discover is not accepted everywhere, so if you buy abroad, it is better to have a backup payment method.
Best for college students: Deserve®EDU MasterCard
The reason is as follows: If you are an international student, Deserve®EDU Mastercard does not require credit history, not even a social security number.
If you are eligible to use the card, you can spend $ 500 on the first three charge cycles for using the card to get one year of free Amazon Prime student – a 1% refund for each purchase. In addition, when using a card to pay a cell phone bill, if the cell phone is stolen or damaged, you will be covered for up to $ 600. The annual fee is $ 0, you will receive all of that money, and there are no transaction fees abroad, if you plan to study abroad or return to another country, this will be a good choice.
Best for prequalification: Credit OneBank®PlatinumVisa® with cash rewards
The reason is as follows: If you prefer an unsecured credit card, but are concerned about being eligible to use a credit card, you can choose Credit OneBank ®PlatinumVisa® for cash rewards.
Credit One Bank can easily check your prequalification – the prequalification process will not affect your credit. Knowing if you passed prequalification before registering can avoid the trouble of unnecessarily questioning your credit score.
The card also undergoes regular reviews of the credit limit. If you are eligible for a higher credit limit and remain the same, it can help you increase credit by reducing usage. In addition, you will receive a 1% cashback reward on eligible purchases.
But please note: depending on your credit limit, the annual fee for this card ranges from $ 0 to $ 99.
Best for limited credit: Platinum Mastercard® from CapitalOne®
The reason is as follows: the Platinum Mastercard® from CapitalOne® can help you build a good credit history, and the best, with an annual fee of $ 0.
The card does not have many decorations – there is no reward program or membership bonus. However, if building credibility is your priority, you can expect better returns in the future.
After paying your first five months of payment on time, the card may provide you with a larger credit line. When establishing credit, a higher credit limit can help you increase your credit utilization rate (divide your balance by your credit limit). The lower the utilization rate, the better.
There is also no charge for foreign transaction fees on the card. And because it is a Mastercard, you shouldn’t have to have a hard time finding a merchant abroad who accepts the card.
Best without credit: Petal® 2 Visa® credit card
The reason is as follows: The Petal® 2Visa® credit card eliminates Catch-22 credit: credit history is a prerequisite to obtaining credit approval, but credit history cannot be established without credit.
If you have never used a credit card before, the issuer will make a decision. This decision is based on your financial situation, making this card an excellent choice for your first credit card.
So, when using Petal® 2 Visa® credit cards you can connect bank accounts to view your revenue, consumption, and savings methods. If the issuer determines that it is appropriate based on how your funds are managed, you will be approved. If you pass the exam, you will be eligible for a $ 500 to $ 10,000 credit line. And you will not have to pay any fees to use this card.
The Petal® 2 Visa® credit card application allows you to access your account from anywhere. Also, it shows the amount of interest you will have to pay for purchases if you do not pay your total balance each month. This can assist you in managing your finances and building credibility in the process.
You can also use the Petal® 2 Visa® credit card to earn cashback rewards in the credit establishment process. After opening an account, the card will provide a 1% refund for all purchased goods. And after paying 12 times a day, you can get a maximum refund of 1.5%.
How were these cards chosen?
There are many cards for low credit scores, but some charge high fees or limit their use. Therefore, we focus on credit cards that can help you increase your credit without exploiting your portfolio.
More precisely, we look for cards with low or exempt annual fees. Also, the ones which offer unlimited rewards and have the ability to easily establish your credit history.
Take advantage of easy credit card approval features
These cards for low credit score are considerably easy to obtain. But after receiving the card, start using it to establish your credit history. Make sure you pay on time every month and consider paying the full balance to avoid charging interest.
Also, try to keep your balance considerably low to maintain a good credit usage rate. You can use your card sparingly or make several payments per month. After obtaining a reliable credit history and credit score, you can apply for an unsecured card.
So, how about learning the best way to pick the best credit card for you? And we are not talking only about bad credit cards but in general. Then, check out the easy tips we have for you next.
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