You should consider all options when looking at credit cards for people with poor credit. Look for features that you are interested in, such credit bureau reporting, fraud protection and credit score access. This will ensure that you get the best card for you. Additionally, avoid paying an annual fee if you want to avoid unpleasant surprises in the future.
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 not closed after seven months, your security deposit will be refunded. You will also be eligible for alerts concerning identity theft.
A good credit card is essential to rebuild your credit, and the Discover it Secured no annual fee credit card offers many benefits. It rewards you for good spending habits and offers generous rewards. It also makes it easy to transition from a secured account to an unsecured one. Seven months after you open an account, the company will review it to determine if it's a good candidate for an unsecured card. The security deposit is also returned if the payments are not made on time.
U.S. Bank Cash+(r) Visa(r) Secured Card
The U.S. Bank Cash+ Visa Secured Card is a great card for people who want to earn cash back on their purchases. The card gives you 5% cashback for certain categories, and 1% for others. It doesn't have an annual fee and you can choose the cash back categories that you wish to earn in each month. The cash back rate on this card is based on the amount of money you spend on your purchases, so there is no need to worry about spending more than you can afford.
U.S. Bank's Cash+(r), Visa Secured Card, is a great way to start building credit. You can convert it to an unsecured card easily, earn cash back, and there is no annual fee. The card also reports to the credit bureaus. You'll also enjoy higher rewards opportunities if you spend more in certain bonus category.
Merrick Bank, Double Your Line (r), Mastercard(r),
Merrick Bank offers a zero-annual-fee credit-card for bad credit. It also has a generous credit limit increase of $2700 in a single year. The card lowers your credit utilization ratio, which can help increase your credit score. Credit cards also report to the major credit reporting agencies every month, which allows you to build your credit history while still making timely payments. To ensure you're making your payments on time, the bank conducts periodic reviews of your account every year after your first year. The bank will increase your credit limit if you have a track record of timely payments.
Merrick Bank Double Your Line MastercardTM credit limits are $550 to $1350. The credit line doubles to $1100-$2,700 after three months. You can use this card to build credit. It reports your monthly payments to the major credit reporting agencies. Each month, you can access your FICO credit score free of charge.