Best Credit Cards for Poor Credit
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How We Chose the Best Credit Cards for Poor Credit
Credit cards for building credit Rewards cards without a deposit Credit cards for automatically increasing your credit limit Secured cards for smaller deposits Secured cards with rewards Secured cards from a major retail bank
Best Credit Cards for Building Credit
If You Want a Credit Card for Building Credit: Self - Credit Builder Account + Secured Visa® Credit Card
You don’t need a credit check to apply for this card. The card reports to all three major credit bureaus. 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, although not out of line for cards in this category. There is an annual fee—one time $1 + secured card $25.
Best Credit Cards for Rewards and No Deposit
If You Want a Credit Card for Rewards and No Deposit: Credit One Bank® Platinum Visa® for Rebuilding Credit
The card is available for applicants with bad credit. No security deposit is required. There are cash-back rewards.
The variable APR is relatively high. There’s an annual fee for this card. Cash back is only offered on select purchases.
Best Credit Cards for Automatically Increasing Your Credit Limit
If You Want a Credit Card for Automatically Increasing Your Credit Limit: Petal® 1 Visa® Credit Card
Make qualifying on-time payments for six months and you can be eligible for a credit line increase. You can earn up to 10% cash back at select merchants, which is unusual for a card of this type. This card doesn’t require a security deposit.
Unlike the Petal 2, you can still incur late fees with this card. This card will only earn cash back at select merchants, not on all purchases. WebBank has only a few products, so it may be difficult to upgrade or downgrade your card in the future.
Best Secured Cards With Smaller Deposits
If You Want a Secured Card With a Smaller Deposit: Capital One Platinum Secured Credit Card
This card has a low security deposit. It offers automatic consideration for a higher credit line in as little as six months. There are no foreign transaction fees.
The card has a high APR. It provides few benefits. The initial credit line is only $200.
Best Secured Cards With Rewards
If You Want a Secured Card With Rewards: Discover it® Secured
The card offers good opportunities for rewards. The first year is especially valuable due to dollar-for-dollar matching. It’s eligible to convert to an unsecured card after eight months of responsible use.
This card requires a security deposit. The intro APR offer is not 0%. Rewards earnings have a cap.
Best Secured Cards From a Major Retail Bank
If You Want a Secured Card From a Major Retail Bank: BankAmericard® Secured Credit Card
This card charges no annual fee. The security deposit is refundable. The card is offered by Bank of America.
There’s no intro APR offer. The card provides few rewards. The minimum deposit is $300.
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