A secured credit card is a great way to build your credit. You will need to deposit a minimum monthly amount and make the minimum monthly payment. A perfect situation would be to repay the entire balance each month. After closing the account, any deposits made are refundable. You can keep your card open for several years before having to start paying back the balance.
Capital One Platinum Secured Kreditkarte
If you have ever had difficulty making payments, Capital One Platinum Secured Credit Cards is a great place to begin a credit record. You can start with a low deposit of $49 or $99, or even up to $200. Capital One allows you make monthly payments and will mail your card once you've made the deposit. You can expect a $1,000 credit limit, so it's worth checking out.
Capital One Platinum Secured has a credit limit of $200 for its initial credit. You can easily increase your credit limit by making additional deposits up to $800. You can also apply to for a higher credit card line after six months by increasing your initial deposit. After just six months, you could get a credit limit extension of up to $1,000. This is a great way for you to improve your credit score and build credit. Be sure to make your payments on-time.
You can find it secured
The Discover it Secured credit card is an excellent option for anyone wishing to build a positive credit history. This card comes with no annual fee and no minimum balance. It will help you rebuild credit and earn rewards. It is especially useful for students as there is no annual fee, and you can transfer your balance to an unsecured Discover card after seven months of good payment behavior. Once you've been responsible with your card, you can graduate to a more secure card without a security deposit.
Discover it Secured credit-card features include $0 annual fee, foreign transaction fees free of charge, and late payment fees. Late payments may incur a fee. However, you can avoid these fees by paying your monthly payments on time. Lastly, you won't be charged for purchases made internationally. For the first six months, balance transfer fees are three percent of the total amount transferred. After that period, they rise to five percent. This makes it a very affordable option for building your credit.
Citi Secured Mastercard
Citi Secured MasterCard is the best secured credit card. With a low security deposit of $200 to $2,500, this credit card allows you to build your credit history and learn responsible financial practices. This card has no annual fees. You can use it for up a year, and then upgrade to a higher credit limit if you wish.
Citi Secured Mastercard also has a zero dollar annual fee. This is a rare feature among secured credit cards that charge high annual fees and offer very few benefits or perks. Many unsecured credit card building cards also charge eye-popping fees each year, which tends to increase the cost of the card after the first. Even though this card is low in annual fees, it can still add significant amounts to your monthly bills once you use it.