A credit card can be a great resource. Credit cards can be an invaluable tool in times of emergency. However, if you already have a poor credit score, it can be difficult to get a credit card, a loan, or even lease a car or a place to live. Thankfully, the following U.S. credit cards can help you boost a bad credit score and build a positive credit profile:
1. DCU Visa Platinum Secured Credit Card
DCU is a credit card company that offers secured cards to consumers with low credit scores. The DCU Visa Platinum Secured Credit Card is an excellent choice for consumers with poor credit. The card offers an 11.50% introductory APR period and no annual fee for the first year of card membership. It also has no limit on your total purchases.
2. BankAmericard Secured Credit Card
The BankAmericard Secured Credit Card is a great credit card for bad credit. It provides a line of credit that is secured by your deposit account. You can have up to $50,000 in your deposit account and still be eligible for this card. You must deposit a minimum of $200 into your deposit account to be approved for the card. The interest rate on the secured card is much higher than the standard interest rates of most other credit cards. The rate is usually between 15 and 19 percent compared to an average rate of 12 percent or less on most other cards. As long as you make your payments on time, you will also be able to lower this rate over time. This is one of the best credit cards for bad credit if you want to keep your spending under control while still having access to some cash if you need it.
3. Capital One Platinum Credit Card
Capital One’s Platinum Card has some good perks and benefits for those with low or bad credit. Some great features include no annual fee and a 28.49% APR for 12 months on purchases and balance transfers. There are also no foreign transaction fees. The card is also secured, meaning you need to deposit $200 to open it up. There is a grace period of at least 25 days. After that period, you will have access to your credit limit and your credit line. You will be charged up to $40 for late payment fees.
4. nRewards Secured Credit Card
nRewards credit cards are becoming increasingly popular. These cards provide a great way to build your credit. You can earn points redeemed for cash back, gift cards, and more. The nRewards Secured Credit Card is one of the best rewards credit cards for people with bad credit. This card does not require an annual fee, and it has no interest rate at all. You will receive a $50 cash bonus after you spend $500 within the first 90 days of opening your account.
5. Discover It Secured Credit Card
The Discover It Secured Credit Card is another great option for people with bad credit. The card not only has a low APR but also offers great cashback and rewards points when you use your card, an introductory 26.74% APR for 12 months, and no annual fee. The card also has a fairly high limit of $200, which should be more than enough to handle your daily spending needs.
