A balanced approach is key when you are evaluating credit card options for people with bad credit. You should ensure that the card has features that are important to your needs, such as credit bureau reporting, fraud protection, credit score access and credit score access. This will ensure the card works well for you. You can also avoid surprises later on by looking for a card without an annual fee.
Find it Secure
The Discover it Secured credit card is among the best no annual fee credit cards for bad credit. You can receive up $2,500 credit limit with a $200 deposit. In addition, you have many great benefits. You also get cash back rewards and no annual fees.
One of the best things about Discover it Secured no-annual fee credit cards is that your account will be reviewed after seven consecutive months. If your account has not been closed for seven months, the security deposit will be refunded. You will also be eligible for alerts concerning identity theft.
For rebuilding your credit, a good credit score is crucial. The Discover it Secured no-annual fee credit card offers many advantages. Its rewards program rewards good spending habits. It makes it easy for you to switch from a secured account into an unsecured one. Seven months after you open an account, the company will review it to determine if it's a good candidate for an unsecured card. The company will also return the security deposit if you fail meet payment obligations.
U.S. Bank cash+ (r), Visa(r), Secured Card
U.S. Bank's Cash+ Visa Secured Card can be used by people who want cash back on purchases. The card offers 5% cash back on some categories, and 1% back on others. There is no annual fee. You can also choose which cash back categories to earn each month. The cash back rate on this card is based on the amount of money you spend on your purchases, so there is no need to worry about spending more than you can afford.
U.S. Bank's Cash+(r), Visa Secured Card, is a great way to start building credit. It features generous cash-back rewards, no annual fee, and is easy to convert to an unsecured card. The card reports to three credit bureaus. As you spend more money in certain bonus categories, you can enjoy greater rewards.
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 utilization ratio of your credit card is also reduced, which can lead to a higher credit score. The credit card reports monthly to all three major credit reporting agencies. This allows you to build credit and pay on time. Your account is reviewed every year by the bank to ensure you pay on time. If you keep good payments on time, the bank could increase your credit limit.
The credit line for the Merrick Bank Double Your Line Mastercard(TM) is $550 to $1,350, and it doubles to $1,100 to $2,700 after three months. It is simple to use this credit card to build your credit. Your monthly payments are reported to the three main credit reporting agencies. Access to your FICO credit score each month is free.