When looking into credit cards that are available to people with poor credit, it is important not to lose sight of the bigger picture. Look for features that you are interested in, such credit bureau reporting, fraud protection and credit score access. This will ensure the card works well for you. Additionally, avoid paying an annual fee if you want to avoid unpleasant surprises in the future.
Discover it Secured
The Discover it Credit Card is among the best credit cards without an annual fee for people with bad credit. A $200 security deposit will allow you to receive a maximum credit limit of $2,500 and access to many other benefits. The card also comes with no annual fee and offers cash back rewards.
The best thing about Discover it Secured credit cards with no annual fees is the ability to have your account reviewed every seven months. If your account is active after seven consecutive months, you'll receive a full refund of your security deposit. 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 is also very easy to move from a secured to an unsecured account. After you open an account, seven months later, the company will review it and determine if it is suitable for an unsecured card. If you don't meet the payment requirements, the company will return your security deposit.
U.S. Bank Secured Card Cash+ (r) Visa(r).
U.S. Bank cash+ Visa Secured Card is a great option for anyone who wants to earn cash back on all their purchases. The card gives you 5% cashback for certain categories, and 1% for others. It doesn't have an annual fee and you can choose the cash back categories that you wish to earn in each month. This card's cash back rate is determined by how much you spend on purchases.
U.S. Bank Secured Visa Cash+(r), Visa Secured Card are great options for 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 an affordable credit card with no annual fee for bad credit. This credit card allows you to increase your credit line by $2700 each year. This card also lowers the utilization ratio of your credit line, which can help improve your credit score over time. The credit card automatically reports to the three largest credit reporting agencies each month. This will allow you to build your credit score and make timely payments. Your account is reviewed every year by the bank to ensure you pay on time. If you maintain a good payment record and pay on time, the bank might increase your credit limit.
Merrick Bank Double Your Line MastercardTM allows you to open credit lines from $550 up to $1350. After three month, your credit line will double to $1100 to 2,700. You can use this card to build credit. It reports your monthly payments to the major credit reporting agencies. Access to your FICO credit score each month is free.