There are many credit cards available that can help you improve your credit score if you have low credit. Capital One Secured Mastercards, Discover It Secured and Applied Bank Platinum Preferred are some of these options. If you don't want to commit to a secured card, you can look into Reflex Mastercard, a subsidiary of Capital Bank.
Capital One Secured Masterscard
Capital One Secured Mastercard is a good option for those with a credit score below 600. This card is designed for those with bad credit. The annual fee is not charged. It reports to all credit bureaus and has an initial credit limit of only $2,500. It also offers zero fraud liability coverage and fraud protection.
Capital One Secured Mastercard provides many benefits for people with bad or fair credit. It comes with a Zero Fraud Liability Guarantee and offers travel assistance (autopay), extended warranties, and car rental insurance. The card comes with additional features such as 24/7 customer support. You can rebuild your credit with this card and improve your credit score.
Capital One Platinum Secured Credit Card also has a low annual cost and low refundable deposits. Its $49.00 deposit is considerably lower than that of other cards. You can also use this credit card to monitor your credit score, make payments, and see your balance.
Get it Secured
Discover it Secured credit cards are a good choice for people with low credit scores who are looking for low annual fees. The card comes with no annual fee. However, there are fees for cash advances, balance transfer, and returns up to $40. You will also get a very high rate of interest.
The minimum cash deposit required to get a Discover it Secured MasterCard is $200. This deposit is refundable. Other benefits include a 2% cash back rate at gas stations and restaurants, as well as unlimited 1% cash back on all purchases. Discover will match the cash back you receive for the first one year. It doesn't even charge an annual fee.
The credit card issuer will review your history when evaluating your application. Your payment history and balance history will be examined, along with how long you have had credit. They may also verify that you have not applied for a credit card in the last 12 months. This could be an indication that you intend to increase your debt. It is not a good idea if you have more debt than your ability to pay off.
Applied Bank's Gold Preferred
Applicants with a credit score 600 or above can apply for the Applied Bank Gold preferred credit card. The application process for the Applied Bank Gold Preferred credit card is easy and takes only a few seconds. To be approved, you will need to submit your application within 24hrs. After making at least $1,000 in purchases within the first three-months, those with good credit can qualify for a $200 online cash bonus.
This card is a great option as it offers many advantages over other options. The card is simple to apply for and does not require any credit checks. It also reports payment information to all three major credit agencies. It's also quite affordable compared to other unsecure credit cards. It does not charge an introductory fee, but it does have a lengthy list of additional fees.
Although this credit card comes with an annual fee that is higher than the Open Sky, the card still has a low interest rate. People with lower credit scores will find the Applied Bank Secured Visa Gold preferred credit card more secure.