Best Unsecured Credit Cards For bad Credit With Limited fee
There are many people in the world who have bad credit and cannot get any credit cards. It is very difficult to survive without a credit card. And it becomes even more difficult when you want to make an online purchase. It can be very frustrating when you cannot shop online because you have no credit card or bad credit.
There are some unsecured credit cards for bad credit which help such people to overcome these issues. These cards are easy to get but they charge a lot of interest. So, you can use this card only when you need to make an online purchase and there are no other options available for
Credit cards for people with bad credit are a dime a dozen. To choose the right one, you need to know exactly what you need from your card. There are two kinds of credit cards for people with bad credit; secured and unsecured. Secured credit cards require you to put down a deposit in the form of a cash collateral. This is how the bank ensures that if you default on your payments, they can get their money back by selling off your deposit. All other types of credit cards are unsecured, and don’t require a deposit as security.
What Is an Unsecured Credit Card?
An unsecured credit card is a credit card issued to consumers that do not require any type of collateral or security. This type of credit card is available to people with bad credit and those who have little to no credit history at all.
The best unsecured credit cards for bad credit
Fortunately, there are bad credit cards that can help these people build their credit back up. These cards are designed for people with poor or no credit history. If you are Looking, for a credit card with bad credit?Below are several few bad credit cards you need to look out for and also consider their benefits before applying.
Capital One Platinum Credit Card: Best for building credit
Capital One Platinum Credit Card offers a number of features that can help you save money and make life more convenient. At the same time, there are a few disadvantage you should be aware of before applying for the card.
1). This card offers low balance transfer fee of 3% (min $5)
2). Doesn’t charge an annual fee, or a foreign transaction fee
3). Cardholders get access to higher credit limits in as little as six months.
4). You can get prequalified online without a inquiry hard on your credit report
1). You can’t earn any rewards
2). It has an introductory APR offer good for purchases and balance transfers alike. All in all,
• Show your company’s commitment to growth
• Reward repeat customers and employee spending
• Get in front of new customers through marketing support
• Increase your domestic and international spending limit with additional cards
• Get cash back rewards for business expenses
• Show you
Discover it® Student Cash Back: Best for no credit history
Discover It® Student Cash Back is a new card from Discover, designed specifically for students. It lets you earn 5% cash back on up to $1,500 in purchases at restaurants and gas stations each quarter, plus 1% cash back on all other purchases. Plus you’ll get an automatic bonus each year when you’re a student: Discover will match ALL the cash back you’ve earned at the end of your first year, automatically.
1). Gain rewards for spending
2). Cashback Match for the first year
3). You dont need credit score to apply
4). No Annual Fee
1). High interest rate after the introductory offer ends
2). APRs variable range from 12.99 percent to 21.99 percent
3). Designed specifically for students
- No Annual Fee, earn cash back, and build your credit with responsible use.
- Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
- Establish your credit line with your tax return by providing a refundable security deposit of at least $200. Bank information must be provided when submitting your deposit.
- Using your secured credit card helps build a credit history with the three major credit bureaus. Generally, prepaid and debit cards can’t do that.
- Discover is accepted nationwide by 99% of the places that take credit cards.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
- Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
- Intro Offer: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score.
Credit One Bank® Platinum Visa®: Best for Rebuilding Credit: Best for earning cash back
Credit One Bank is offering a new credit card called the Platinum Visa. The card has some great features that might make it worth your while to apply for.
In a world where most credit cards try to offer as many rewards as possible, the Credit One Bank Platinum Visa stands out as a card that offers a different type of reward. A low interest rate is the reward that this card offers its users. It’s a credit card that’s designed to help you keep your finances in order and pay off your bills on time, rather than offering you any great rewards. If you’re an individual who always pays their credit card on time or ahead of schedule, this is the perfect card for you.
1). It offers 1 percent cash back within popular spending categories
2). Cash back is automatically applied as a statement credit
3). Free credit score
4). Automatic reviews of your account to see if you’re eligible for a credit line increase.
5). No annual fee and no foreign transaction fees
1). You’ll charge an annual fee of $75 for the first year, then $99 annually
2). You dont need credit score to apply
3). Has high variable purchase APR of 23.99%.
4). The credit limit can be as low as $300
- See if you Pre-Qualify without harming your credit score
- With $0 Fraud Liability, you won’t be responsible for unauthorized charges
- View your free online access to your Experian credit score, terms apply
- Never miss an account update with customizable text and email alerts
- This unsecured card requires no deposit and can help build your credit
- Automatic reviews for credit line increase opportunities
- Earn 1% cash back rewards on eligible gas, grocery purchases and mobile phone, internet, cable and satellite TV services. Terms apply.
- Choose your monthly payment due date for added convenience, terms apply
- Manage your account on-the-go with the Credit One Bank mobile app
- Looking to rebuild credit? We report to the major credit bureaus monthly
- Show off your personality by selecting from a variety of card designs, a fee may apply
Petal® 1 ‘No Annual Fee’ Visa® Credit Card: Best for no annual fee
The Petal 1 card is designed to help you build credit without charging a bunch of fees. It offers cash back rewards and comes with an automatic credit limit increase after you make your first five monthly payments on time.
As a new cardholder, you can get up to $500 in credit, which is more than most secured cards offer. You can earn up to 1% cash back on all purchases that rate increases to up to 1.25% after you make your first five monthly payments on time. That’s not the highest rewards rate available for a secured card, but it’s still a decent deal for anyone who needs to rebuild their credit.
1). Doesn’t charge an annual fee, or a foreign transaction fee
2). Don’t require hard inquiry on your credit report to get prequalified
3). Has limited rewards program
4). There is no security deposit required
5). No Annual Fee
1). There is no option available for transfer balance
2). Rewards is only available for select merchants
- $0 Annual Fee
- No credit score? No problem. If eligible, we’ll create your Cash Score instead.
- $300 – $5,000 credit limits
- Earn a credit limit increase in as little as 6 months. Terms and conditions apply.
- Variable APRs range from 19.99% – 29.49%
- 2% – 10% cash back at select merchants
- See if you’re pre-approved within minutes without impacting your credit score.
- No annual or foreign transaction fees.
- Petal reports to all 3 major credit bureaus
- Card issued by WebBank, Member FDIC
- See if you’re pre-approved within minutes without impacting your credit score.
- No deposits required
- Build credit alongside hundreds of thousands of Petal Card members.
- Petal’s mobile app makes it easy to manage your money, track your spending, and automate payments.
What to look for in an unsecured credit card
There are many credit card scam websites that offer you a credit card and ask for some information from you, like your address and phone number. They will then call you to confirm the information and ask for your social security number and other personal information. This is one of the most important things that you need to take into account in order to know if the site is legit or not. The biggest indication that a website is a scam is the fact that they require your SSN and other personal information before offering anything in return. In case, you do not have enough money to pay back, these credit cards will ruin.
When a secured credit card might make more sense
Secured credit cards are designed to help people with bad credit or no credit history build up their credit score through on-time payments and responsible use of the card. A secured card is an excellent chance for someone with low or bad credit to prove they can be trusted.
When the question of whether you should use a secured credit card or an unsecured credit card, there are many factors to consider. Here are a few questions to help you decide which one is right for you.
Do I want to build or rebuild my credit?
Do I want to earn rewards?
Do I plan on applying for any other credit cards?
Can an Unsecured Credit Card Help You Build Credit?
Yes, unsecured cards are a great way to start building or rebuilding your credit. If you’re unfamiliar with credit cards, here’s a quick rundown:
How to repair your credit with a credit card
Getting a credit card can be a great way to repair your credit, but it can also be the worst thing for your credit. You have to make sure you don’t make any mistakes when using a credit card to rebuild your credit. I will explain how to repair your credit with a credit card and how you can use one responsibly so that you don’t hurt your credit score in the process. First, you should understand what affects your credit score. Your payment history is the most important factor when it comes to determining your credit score, followed by the percentage of debt.