![]() This credit card reports your payment history to all three credit bureaus, allowing you to build a positive credit history.īenefits: This card has no annual or hidden fees. One of the credit cards that can help you with rebuilding credit is the Chime Credit Builder Visa credit card. This security deposit equals your credit limit, so if you want a credit limit of $500, you’ll need to deposit $500. After eight months, the secured card also provides an automatic review to consider transitioning you to an unsecured card.ĭrawbacks: One drawback of the Discover it® Secured credit card is that it requires a minimum refundable security deposit starting at $200. This can help you save money on interest if you plan on consolidating debt as well as building credit.īenefits: This credit card offers cash back on eligible purchases, a free FICO score check tool, and no penalty APRs. Plus, it has a 0% APR on purchases and balance transfers for the first 14 months. It has no annual fee, and it offers a decent rewards program. The Discover it Secured credit card is another good option for people with bad credit. ![]() Also, it doesn’t offer any introductory APR periods of lower interest when you first sign up. If you carry a monthly balance, you’ll pay a lot in interest, so make sure you use your platinum secured card responsibly. You can also access your account 24/7 through Capital One’s mobile app.ĭrawbacks: This Capital One Platinum credit card has high interest rates. It also has a decent rewards program that lets you earn points on every purchase.īenefits: The Capital One Platinum secured card has a few perks, including access to your credit score and automatic credit line review for a higher credit line. People with limited credit history can choose the Capital One Platinum secured credit card, as it doesn’t charge an annual fee and has a low APR on purchases and balance transfers. Here are five of the best credit cards for bad credit. However, those with bad credit have many options, including the option to transition from a secured credit cards to unsecured credit cards after a history of on-time payments. Once you get a good credit score, you will be eligible for credit cards with better rewards.Ī bad credit score might discourage you and make you think you’re trapped with a subprime credit card. These programs aren’t usually too generous, but they can still be valuable. Rewards programs are available on some credit cards for people with fair credit.The credit limit for credit cards specifically for people with bad credit are usually lower than other cards. A credit limit or credit line is the maximum amount of credit a financial institution extends to a client on a credit card.That means if you don’t pay off your balance in full, you will be getting deeper in debt and potentially damaging your credit score further. ![]() APRs on credit cards for people with bad credit are often higher than on other cards.
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