Many credit cards can help people with low credit scores. Some of these options include Capital One Secured Mastercard, Discover it Secured, and Applied Bank Gold Preferred. Capital Bank's Reflex Mastercard subsidiary can be an option if you don’t want to take out a secured credit card.
Capital One Secured Mastercard
Capital One Secured Mastercard may be a good choice if your credit score is below 600. This card is free for people with bad credit. It reports to all 3 credit bureaus. The initial credit limit is low. It also offers zero fraud liability coverage and fraud protection.
Capital One Secured Mastercard provides many benefits for people with bad or fair credit. It comes with a Zero Fraud Liability Guarantee and offers travel assistance (autopay), extended warranties, and car rental insurance. This card also comes with extra features, including 24/7 customer service. You can rebuild your credit with this card and improve your credit score.
The Capital One Platinum Secured Credit Card has another benefit: a low annual fee and a low refundable deposit. The card's minimum deposit is $49.00. This is significantly lower than other cards. You can also use this credit card to monitor your credit score, make payments, and see your balance.
Get it Secured
If you are looking for a creditcard with a low fee and a low credit rating, Discover It Secured might be for you. The card has no annual fees, but there are fees for balance transfers, cash advances and returned payments up to $40. It also has a high ongoing interest rate.
A minimum cash deposit of $200 is required for the Discover it Secured Card. This is a non-refundable deposit. Additional benefits include unlimited cash back of 1% on all purchases as well as unlimited cashback at gas stations and restaurants for a 2% rate. Plus, Discover will match your cash back for the first year. The annual fee is not charged.
When evaluating your application, the credit card issuer will look at your history. The credit card issuer will look at your past history of payments and balances, as well how long you have been using credit. They may also verify that you have not applied for a credit card in the last 12 months. This could be an indication that you intend to increase your debt. It is not a good idea if you have more debt than your ability to pay off.
Applied Bank Gold Preferred
Applicants who have a 600 credit score or more can apply for the Applied Bank Gold Prreferred credit card. It is quick and easy to apply for the Applied bank Gold Preferred card. You must submit your application within 24 hours in order to receive approval. Those with a good credit score can get a $200 online cash reward after making a minimum of $1,000 in purchases during the first three months.
This card offers several advantages over other options. The card is simple to apply for and does not require any credit checks. It also reports payment information to all three major credit agencies. It is also relatively inexpensive compared to other unsecured credit cards. It does not charge an introductory fee, but it does have a lengthy list of additional fees.
Although the annual fee on this credit card is higher than the annual fee for the Open Sky card, the card does have a low interest rate. The Applied Bank Secured Visa Gold Preferred credit card is a more secure alternative for people with a low credit score.