When evaluating credit cards for people with bad credit, it is important to take a balanced approach. Ensure the card offers features that are important to you, such as fraud protection, credit score access, and credit bureau reporting. This will ensure that you get the best card for you. You can also avoid surprises later on by looking for a card without an annual fee.
Discover it Secured
The Discover it secured credit card is one the best no-annual fee credit cards for those with poor credit. With a $200 Security Deposit, you can get upto $2,500 credit and other great benefits. This card comes with cash back rewards as well as no annual fee.
One of the best things about Discover it Secured no-annual fee credit cards is that your account will be reviewed after seven consecutive months. If your account is still active after seven months, you will receive a refund of your security deposit. You will also be able to receive alerts about identity theft.
It is important to have a credit card that you can trust. Discover it Secured has no annual fees and offers many benefits. Its rewards program rewards good spending habits. It's also easy to change from a secure account to an unsecure one. The company will review your account for eligibility for an unsecure card seven months after it has been opened. If you fail to pay the required payment requirements, the company returns your security deposit.
U.S. Bank Visa(r), U.S. Bank Bank Cash+ Secured Cards
U.S. Bank's Cash+ Visa Secured Card can be used by people who want cash back on purchases. The card provides 5% cash back for some categories and 1% return on other. You don't need to pay an annual fee. Additionally, you can choose which cash-back categories you want in any given month. This card pays cash back based upon the amount you spend on your purchases.
U.S. Bank Cash+(r), Visa Secured Card is an excellent option to help you build credit if your credit card skills are limited. The card offers generous cash-back rewards and no annual fees. It is also easy to convert into an unsecured credit card. The card reports to three credit bureaus. Additionally, you will be able to earn higher rewards if you spend more on certain bonus categories.
Merrick Bank Double your Line (r) Mastercard (r)
Merrick Bank offers a no-annual-fee credit card for bad credit with a generous credit line increase of $2700 within a year. This card can also reduce your credit utilization, which can help you improve your credit score over the long-term. The credit card also reports to the three major credit reporting agencies monthly, so you can build your credit history while making on-time payments. Regular reviews are conducted by the bank after the first year to verify that you are making timely payments. If you make a good payment history on time, the bank may increase your credit limit at a later date.
The credit line for the Merrick Bank Double Your Line Mastercard(TM) is $550 to $1,350, and it doubles to $1,100 to $2,700 after three months. Using this credit card to build credit is easy, and the card reports your payments to the three major credit reporting agencies monthly. Access to your FICO credit score each month is free.