Credit cards for a 630 credit score are available in a variety of forms. You can get an unsecured credit card, a store credit card, or even a business credit card. However, you need to know that your credit score is an important factor in choosing the right card.
Unsecured credit cards
If your credit score is greater than 630, you may be eligible for unsecured credit card with a higher credit limit. These cards may have lower interest rates, and offer higher rewards. Many unsecured cards offer introductory deals that include cash back, bonus miles, points, and/or bonus miles. Additionally, you may be able to purchase items without paying interest for up to a period of 0 percent APR. Unsecured cards can be a good option for those who don't want an introductory period.
Many unsecured credit card applications require a security deposit. However, the top ones that are available for those with 630 credit scores or better don't need one. Unlike secured credit cards, unsecured credit cards require only a small security deposit, which can be as low as $200. Unsecured credit cards are an attractive option for people with lower credit scores.
Shop cards
Many credit cards are available for those with a credit rating of 630 or less. For example, the Surge Mastercard helps consumers rebuild credit scores by reporting on-time payments at credit bureaus. Continental Finance issues this card. It offers credit lines of $300-$1000. After six months of responsible credit use, the limit can be raised to $2,000 for a short time. The card comes with a $99 or $200 refundable security deposit.
Another option is the Credit One Bank Visa for Rebuilding Credit. This credit card also offers a rewards plan, which allows you to earn 1% cashback when you purchase qualifying items. This card is easy to qualify for, and there is a pre-qualification procedure that will help you determine if you're eligible without running your credit report.
Secured credit cards
Low credit scores can benefit from secured credit cards. These cards don't require an annual fee. Balance transfers and cash advances are subject to fees. An additional $40 fee can be charged for late payments or refunds. If you are looking to build your credit history and rebuild your credit score, secured cards can be a great option.
Secured cards report your activities to credit bureaus, which is different from prepaid debit card. This helps you build a positive credit history and a higher score. Many secured card issuers also allow you to pay off your account in installments. This helps people with low credit scores reach the amount required for a credit card.
Business credit cards
A business credit card may be a good option if your goal is to improve your business credit score. These cards can help you establish a credit history for your business and get the best rates on business loans. You can also separate your business expenses from personal expenses with a card that offers rewards. The drawback to business credit cards is the higher fees and interest rates that are charged than personal cards. However, it is important to keep in mind that your business credit card balances can affect your personal credit score.
It is essential to carefully read all terms and conditions when applying for a credit card for business. Many companies only approve applicants with exceptional credit. Before applying, it is essential to be aware of the minimum credit score.
Cash back credit cards
You may be able to find credit cards that offer cash back rewards and lower APRs if your credit score is less than 630. Another option is to apply for a secured Credit Card, such the Surge Mastercard. This card will report your regular payments to the credit bureaus. After six months' responsible use, the card will give you up $2,000 credit. You will also get a free credit score analysis in your monthly electronic statement.
Discover it is another option for cash-back credit cards for those with low credit scores. This card offers 2% cashback on purchases made at gas stations and restaurants. It also comes with a zero percent per year fee. You can also use the card to shop at Amazon and Uber.