Many credit cards can help people with low credit scores. Capital One Secured Mastercard or Discover it Secured are some options. Applied Bank Gold Pr preferred is another option. Capital Bank's Reflex Mastercard subsidiary can be an option if you don’t want to take out a secured credit card.
Capital One Secured mastercard
Capital One Secured Mastercards are a great option for anyone with a 600 credit score or less. This card is free for people with bad credit. It reports to all credit bureaus and has an initial credit limit of only $2,500. It also offers fraud protection and zero liability coverage.
People with poor or fair credit can enjoy many benefits from the Capital One Secured Mastercard. It comes with a zero fraud liability guarantee and offers autopay, travel assistance, extended warranties, and auto rental insurance. You can also enjoy 24/7 customer care with this card. You can rebuild your credit with this card and improve your credit score.
The Capital One Platinum Secured Credit Card has another benefit: a low annual fee and a low refundable deposit. Its $49.00 deposit is considerably lower than that of other cards. This credit card has many useful tools to help monitor your credit score as well as your available balance and payments.
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. While this card doesn't have an annual fee, it does have fees for balance transfers, cash advances, and returned payment of up to 40 dollars. The card also offers a high interest rate.
The minimum cash deposit required to get a Discover it Secured MasterCard is $200. This deposit is not refundable. You also get unlimited cash back and a 2% cashback rate at gas stations, restaurants, and on all other purchases. Discover will match your cash return for the first 12 months. It also doesn't charge an annual fee.
When evaluating your application, the credit card issuer will look at your history. The credit card issuer will look at your past history of payments and balances, as well how long you have been using 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's never a good idea, if you have more than you can afford to pay off.
Applied Bank Gold Preference
Applicants with a credit score of 600 or higher can apply for the Applied Bank Gold Preferred credit card. The application process takes only a few minutes and is very simple. To receive approval, your application must be submitted within 24 hours. Those with a good credit score can get a $200 online cash reward after making a minimum of $1,000 in purchases during the first three months.
This card offers several benefits over other options. It is easy to get, doesn't require any credit checks, and reports payments information to all three major creditors bureaus. It is also relatively inexpensive compared to other unsecured credit cards. Although there is no introductory fee, it does come with a long list of additional fees.
The annual fee for this card is more than that of the Open Sky card. However, it does offer a lower interest rate. The Applied Bank secured Visa Gold Preferred card is a better option for those with low credit scores.