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The Top 15 Credit Cards When You Have Bad Credit

Cutting Credit Card

Many people are completely unaware just how important a good credit score is to their well-being and their lifestyle. A good credit score can make it possible to purchase a new home, a new car or obtain a credit card. Without a good credit score, it’s often difficult – if not completely impossible – for those with bad credit to obtain any of the above. However, if you suffer from past credit mistakes, it’s possible for you to obtain a credit card that will help you to improve your credit score and make better financial decisions.

Here are 15 credit cards for bad credit.

Applied Bank Unsecured Visa Card

This particular credit card comes with a 29.99 percent annual percentage rate, which is very high. However, this card is good for people who have questionable credit history. The card is actually designed to help those with a poor credit score raise their score and get into a different credit bracket. This card is for people who have bad credit, but not terrible credit. It’s going to help you by reporting to the credit bureaus when you make payments on time, and by offering you a low credit limit that will not allow you to get too deep into debt.

Orchard Bank Card

This secured credit card works to help you improve your credit by making it possible for you not to get into debt. To have this card, you have to put money onto the card kind of like a debit card. However, the card doesn’t work like a debit card, just a credit card. You will be required to put around $200 down on your card, and you will even get your first year’s annual fee waived. And the APR is very low, somewhere around 8 percent.

Capital One Secured Mastercard

This card is really going to help you with your credit history. How? Because you are going to put down a payment on this card that can be as low as $49 and receive a credit line of as much as $250. However, you can increase your credit limit to as much as $3000 by putting as much as $200 down. You get to choose. The card is going to help you by reporting to credit bureaus just how much money you spend, how much you charge and how much you pay off each month.

Navy Federal ‘n Rewards Secured Card

With a low annual percentage rate, this card helps you save money and provides you with a manner of improving your credit score. The annual rate is around 9 percent, and it’s great for people who have military connections. There is no annual fees, and you can switch to a secured card after 12 months provided you make all your payments on time. The best part is that this card works with all the major credit bureaus to do its reporting.

Citi Secured Mastercard

This card not only reports to the three major credit bureaus, it also does something unique with your required security deposit. Instead of holding onto the deposit and sending it back when you close your account and pay it in full, the card company deposits your deposit into a CD so that you earn interest. The annual fee is a reasonable $29 and the company will consider giving you a secured card in as little as 18 months.

Mango Prepaid Mastercard

Unlike many of the other prepaid credit cards available to those with bad credit, this particular card is not as bad. This one has a much more reasonable interest rate than other prepaid credit cards, which means you won’t have to pay as much for this one as you do others. The unfortunate issue with this card is that it’s not going to help you rebuild your credit. It’s simply going to give you a card when you need one for emergencies. The card does not report to the credit bureaus.

Capital One Cash Rewards for Newcomers

This card is typically used for people who are new to the United States and need to build credit. However, that doesn’t mean you can’t apply for it, too. It’s for anyone who needs to rebuild or build their credit. The APR is a bit on the high side at almost 25 percent, which is a drawback. However, it is incentive not to carry a balance because it’s going to cost you far more to do so.

Open Sky Secured Visa Card

With a deposit of $200, you can get a credit line of up to $3,000. The interest rate is pretty reasonable considering this a card for people with lousy credit, and it’s good for those who want to reestablish their credit and make better financial choices. The company reports to all three major credit bureaus. The only drawback of this card is the $50 annual fee. Additionally, the issuer will accept anyone for a line of credit. Not just the people whose credit passes the check.

Credit One Bank with Gas Rewards

This is a great card for people who have bad credit, because it helps to rebuild your credit and provide you with gas rewards. You can get pre-qualified for the card without any issue with your credit score. Additionally, you get the option of having your card reviewed frequently to see if you qualify for a credit line increase. This card also provides holders with secure credit tracking each month so that you can stay on top of your score.

Luxe Signature Card

This card is guaranteed approval for anyone who applies. Your limit depends on the amount of your deposit, and what you pay for the card is going to be refunded to you at anytime you decide to pay off the card in full and close your account. Additionally, there is no credit check for this card, but it does report to each of the major credit bureaus on a regular basis.

First Progress Platinum Elite Mastercard Secured Card

This card offers holders a low annual percentage rate, and the company reports to all three major credit bureaus each year. The company also offers you the ability to get a credit line of up to $2000 by depositing the same amount as your credit card. There is no credit check required, so the card will not affect your score when they check to see if you qualify. It’s a good card for people with exceptionally poor credit. Your deposit is fully refundable. To get it back you must only pay off your card in full and call the company to have the card closed. You will then receive the full amount of your deposit. You can also call and cancel the card and ask that the company applies your deposit to the card instead of sending you a refund.

Horizon Gold Credit Card

With an initial credit line of $500, the card comes with guaranteed approval for anyone that applies. This means you can have a significant credit line without having to worry that you will be denied for it because of your poor credit history. This card comes with the option to have zero percent interest and no credit check. Additionally, you can apply online without any issues. You can help increase your credit score by making your payments on time since the card issuer will report periodically to the credit bureaus to help you raise your credit score substantially.

Net First Platinum Card

This card is designed to help people with bad credit improve their credit with a small credit card. There is a guaranteed $500 credit limit for all who apply. Each month it is reported to the credit bureau as paid or not paid, helping to improve your score as quickly as possible. Additionally, there is no credit check to become approved for this card, which means that you are not going to an inquiry that drops your credit score even further. When your card is paid either in full each month, or when you make at least the minimum payment prior to the due date, the credit bureaus will receive this information and report it on your credit report, which will raise your score.

Next Millennium Card

This card is going to offer you a $1000 credit limit without your credit being checked. The only issue with this particular card is that it’s only good for use in the company’s private store. However, you will get to see your credit rating improve if you pay on time and in full each month as the company does report to all three major credit bureaus. There is no credit check, so you will not see your score fall, and there is no wait time for your approval. It is issued in less than 60 seconds.

First Progress Platinum Select Secured Mastercard

This card is accepted anywhere Mastercard is accepted, and the company reports to the major credit bureaus. This card is good for those in need of some credit boosting because it provides you with an ample credit limit. You choose the amount you get based on the amount you deposit. You can deposit anything from $300 to $2000 to receive your initial credit line. Paying in full and/or on time each month is going to help improve your score and result in the offer of an unsecured card at a later date.

Garrett Parker

Written by Garrett Parker

Garrett by trade is a personal finance freelance writer and journalist. With over 10 years experience he's covered businesses, CEOs, and investments. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.

Read more posts by Garrett Parker

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