These Are the Best Credit Cards for People With Bad Credit.
If you have made mistakes with credit in the past, all is not lost. While you generally won’t be able to get approved for the credit cards that offer the most rewards and the best benefits, you can still start taking steps to rebuild your credit by applying for a credit card designed for people with or without bad credit. credit history.
Generally, you have two options if you have bad credit: secured cards and unsecured cards. A secure card will give you slightly better terms, but you will need to make a deposit equal to your line of credit to get started. If you later decide to close your account and it is in good standing, or you switch to an unsecured card, your deposit will be refunded to you. If you don’t want to deposit, there are unsecured cards for people with bad credit, but these cards usually have higher interest rates and often charge different fees.
Because of these higher fees and generally less favorable terms, we generally recommend a secured card if you have bad credit, but we’ll also list a few of the best unsecured options available.
Best secured credit cards for people with bad credit
Discover Protected Card
The Discover it secure card is one of our top choices for those with bad credit because, in addition to having no annual fee, it offers rewards on all qualifying purchases and a signup bonus in the form of a Cashback Match (Discover will match all cashback earned during the first year as a cardholder at the end of that first year). Discover will regularly check your account to see if you are eligible to switch to an insecure account and get your deposit back.
Secure Visa OpenSky Card
The OpenSky Secure Visa Card does not require a credit check, so this may be a good option if you have a history of credit blunders. However, this card does not offer rewards and charges an annual fee of $35.
FCU Secure Visa Navy FCU nRewards
You must be eligible to join the Navy Federal Credit Union to be eligible to apply for a Visa Secured Visa FCU FCU nRewards card, but if you can, this is a good option to consider. It doesn’t charge an annual fee and offers rewards on all purchases. In addition, those who pay their mobile phone bill with this card can take advantage of mobile phone insurance .
Best unsecured credit cards for people with bad credit
Visa Petal 1 Card “No Annual Fee”
Visa Petal 1 No Annual Fee Card is one of the few unsecured cards available for those with bad or no credit history. However, those with bankruptcy or a history of past missed payments may not be eligible for this card. It offers 2% to 10% rebate rewards on some merchants, does not offer a welcome bonus, and does not charge an annual fee.
Tomo credit card
Those with no US credit history can benefit the most from the Tomo credit card as no US credit history is required to obtain the card. Those interested in applying will need to provide Tomo with their salary information, and Tomo may also take other financial considerations into account. This card offers cash back on all purchases and does not charge an annual fee.