If you’ve had a history of never paying bills on time, you will be counted amongst many Americans with bad credit history. This is a common problem and can be solved, if you play smart.
However, one thing is clear, you will find it difficult to get a credit card. Therefore, if you’ve been rejected due to your bad credit history, hang around, as we have listed down some of the best credit cards for bad credit.
Capital One- Secured Mastercard
This card aids you in the process of building credit. Simply put, users are required to report the status of their credit to three primary credit institutions. Since the card doesn’t have an annual fee and has the ability to enhance credit limit, it is a viable option for those who have a long history of bad credit. Listed down below are some of the key features of Capital One– Secured Mastercard:
- No annual/hidden fees involved
- A completely refundable security deposit that starts at $49 to enable a $200 credit
- Has a 0% fraud liability
- Can monitor credit amount from Capital One
- Can avail a higher credit line with no extra deposit requirement
| PROS | CONS |
| No annual fee | No perks or rewards |
| Requires a limited deposit amount | No monitoring of free credit score |
| Can move to a better credit line |
Discover It- Secured Credit Card
The Discover It- Secured Credit Card has been ranked as one of the best credit cards for bad credit. Similar to the Capital One-Secured Mastercard, there is no annual fee and it serves as a great source of help in building up credit. Since it offers a guaranteed cashback, it is ideal for those who have a dire need of stronger credit. Additionally, all cashback rewards are doubled, right at the end of the first year. A great card for people with bad credit, here are some of the most striking features of this card:
- No annual fee
- An opportunity to earn great cashback
- Can avail 100% U.S based customer service
- Secured Credit Card accepted by 99% of places taking credit cards
- Automatic reviews which begin at 8 months to assess if the move to unsecured line of credit can be made
| PROS | CONS |
| Cashback rewards are a great boost to credit | Rewards are restricted |
| No annual fee | Requires a refundable deposit |
| FICO Scores can be availed without cost |
Bank of America- Cash Back Secured Credit Card
With no annual fee and a great cashback to be earned, what’s there to be missed? Rated as one of the best credit cards for bad credit, Bank of America’s card is a fantastic option for those who require cashbacks along with rewards. This cashback comes in the form of a 3% off in the choice of your favorite categories that include online shopping, food and dining, travel, home furnishing and drug stores. Additionally, you can get your FICO score for free, without any hassle. The credit score is updated on a monthly basis and you will get access to see the factors that are causing it. Highlighted below are some of the most important aspects of this card:
- Can access FICO score without any cost
- No annual fee
- $300 refundable security deposit has to be paid to open account
- 3% cashback in your favorite category
| PROS | CONS |
| Lucrative cash back rewards | Deposit to open account is required |
| No minimum credit score needed | Has a fee for foreign transactions |
Thus, these were our top picks in the credit card category. If you’ve had a history of bad credit, no need to fret. Just pick a good credit card and your work will be sorted. Your choice will primarily depend on your own preferences. Since there are numerous credit cards out there, be sure to conduct your own research before making your final choice.
