You may be looking for a way to access credit so that you can rebuild a solid credit rating, and a credit card is a great option to consider. Some credit cards require applicants to have good or excellent credit scores, and others may make you jump through hoops to get approved. If you are looking for easy approval credit cards that are designed for individuals with lower credit scores, rest assured that there are some bad credit credit cards that you can apply for.
The Milestone Mastercard is one of the top bad credit credit cards for you to consider. It offers a pre-qualification step that you can follow so that you can learn more about your chances of approval before your credit report is reviewed. Bad credit scores are acceptable, and this is an unsecured account. This means that you will not have to place a deposit with the credit card company to open an account. There is a low annual fee that you will be responsible for, but the card has mobile access features so that you can monitor your balance and check your account status from any location where you have an Internet connection. This credit card also reports to all three credit bureaus, which makes it easier for you to improve your credit rating over time.
The Indigo Mastercard is another unsecured credit card option that accepts all credit histories. As with the Milestone Mastercard, you can get prequalified for the Indigo Mastercard online before your credit report is pulled. This card comes with fraud protection as well mobile access for easier account management. There is a low annual fee and a moderate interest rate. Those who are looking for a no-frills credit card that can help them to rebuild their credit will love this credit card.
Capital One Secured Mastercard
If you are looking for a secured credit card option, the Capital One Secured Mastercard is one of the top easy approval credit cards to consider. This credit card is ideal for applicants with bad or limited credit history. There is no annual fee, but you will pay a nominal starting deposit to open the account. The amount of the deposit may range from $49 to $200, depending on your credit history. You will receive a $200 credit limit to start with. After you make five monthly payments on time, your credit limit may be increased. This credit card also has online and mobile access features, and it reports to all three credit bureaus.
Discover It Secured Card
Another excellent option to consider if you have bad credit scores is the Discover It credit card. This is a rewards credit card that pays you between one and two percent cash back on select purchases. There is no annual fee, and the interest rate is competitive with others on this list. You will need to pay a $200 security deposit to open the account, and this will become your credit limit. After you have made seven consecutive payments each month on time, your account will be considered for a credit limit increase. This credit card reports to all three credit reports. In addition to providing you with mobile and online access features, the credit card company also provides you with text and email alerts to remind you about important payment dates.
OpenSky Secured Visa Credit Card
Uniquely, the OpenSky Secured Visa credit card is available to you without a credit check required at all. You will need to establish your credit limit by paying a $200 refundable security deposit. All three credit bureaus receive monthly reports from this credit card. This is a credit card designed to help you improve your credit scores. It offers social media forums that help you to learn more about building credit and managing finances. There are also educational tips on the credit card website that you can refer to. There is a low annual fee, and the interest rate is among the lowest in this group of credit cards. As you can see, you have several great credit card choices to consider when you want to apply for a new account and start improving your credit rating. One of the primary differences between these accounts is the security deposit. Consider if you have the financial ability to pay a security deposit, and this will help you to more easily narrow down the options. Once you have a credit card, take steps to use it responsibly so that you can establish a great credit rating.