Best Credit Building Cards
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How We Chose the Best Credit Building Cards
Secured card for building credit Credit cards for those with a limited credit history Credit building student cards Fair credit cards for building credit Cards for building credit if you don’t want a credit check Credit building cards for applicants with bad credit who don’t want to make a deposit
Best Secured Cards for Building Credit
If You Want a Secured Card for Credit Building: Capital One Platinum Secured Mastercard
The security deposit is flexible and can be relatively low. You can earn back your security deposit after making on-time payments. You can be automatically considered for a higher credit line in six months.
The maximum credit line for this card is $200, making it relatively useless for large purchases. There are no rewards with this card. Late fees are charged if you don’t pay on time.
Best Credit Building Cards for Limited Credit History
If You Want a Credit Building Card and Have a Limited Credit History: Petal® 1 Visa® Credit Card
You can earn up to 10% cash back at select merchants, which is unusual for a card of this level. Make qualifying on-time payments for six months and you can be eligible for a credit line increase. This card doesn’t require a security deposit.
Unlike the Petal 2, you can still incur late fees. This card will only earn cash back only at select merchants, not on all purchases. WebBank only has a few products, so it may be difficult to upgrade or downgrade your card in the future.
Best Credit Building Student Cards
If You’re a Student Who Wants a Credit Building Card: Discover it® Student Cash Back
The card has a good earning structure with bonus categories for cash back. There are incentives for students to do well in school. No late fees are charged for your first late payment on this card.
The quarterly cash back bonus categories may be difficult for students to keep track of. Bonus categories must be activated quarterly. The 5% bonus cash back is limited to $1,500 per quarter in spending.
Best Fair Credit Cards for Building Credit
If You Want a Credit Building Card and Already Have Fair Credit: Capital One Platinum
There are no foreign transaction fees for this card. Applicants are automatically considered for a higher credit line in six months. This is a simple credit card that is eligible for those with fair credit.
There are no rewards for this card. The variable APR is relatively high at 28.49% (updated as of Sept. 29, 2022) There are few other benefits for this card.
Best Cards for Building Credit if You Don’t Want a Credit Check
If You Want a Credit Building Card but Don’t Want a Credit Check: Self Visa
You don’t need a credit check to apply for this card. Applicants with poor credit or no credit can be approved for this credit card. Accounts in good standing may have opportunities to increase the credit limit over time.
You have to open a Credit Builder Account and meet the eligibility criteria. The variable APR is high. There is an annual fee.
Best Credit Building Cards for Applicants With Bad Credit Who Don’t Want to Make a Deposit
If You Have Bad Credit but Don’t Want to Make a Deposit: Credit One Bank® Platinum Visa® for Rebuilding Credit
The card is available to applicants with bad credit. It doesn’t require a security deposit. There are cash back rewards.
The variable APR is relatively high. There is an annual fee for this card. Cash back is only offered on select purchases.
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