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Indigo® Platinum Mastercard®
Choose Your Own Card Design
- Regular Purchase APR 24.9%
- Cash Advance APR 29.9%
- Annual Fee $0 to $99 depending on the card issued
- Credit Needed Poor
- Processing Network Mastercard
- Great for demonstrating responsible use of credit
- Short and easy-to-complete pre-qualification form
- 24/7 mobile account access
- Choose your card design free of charge
- Regular Purchase APR: 24.9%
- Cash Advance APR: 29.9%
- Cash Advance Transaction Fee: $0 during the first year; after first year, either $5 or 5% of the amount of transaction.
- Penalty APR: 29.9%
- Annual Fee: $0 to $99 depending on the card issued
- Foreign Transaction Fee: 1% of each transaction
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- Over Limit Penalty Fee: Up to $40
Milestone® Gold Mastercard®
No Credit Score Impact When You Apply
- Regular Purchase APR 24.9%
- Cash Advance APR 29.9%
- Annual Fee $35 to $99
- Credit Needed Poor
- Processing Network Mastercard
- Choose your custom card design
- Free 24/7 online account access
- Quick pre-qualification with no impact to credit score
- Mastercard® Gold Benefits
- Regular Purchase APR: 24.9%
- Cash Advance APR: 29.9%
- Cash Advance Transaction Fee: $0 during the first year; after first year, either $5 or 5% of the amount of transaction
- Penalty APR: 29.9%
- Annual Fee: $35 to $99
- Foreign Transaction Fee: 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- Over Limit Penalty Fee: Up to $40
First Digital NextGen Mastercard® Credit Card
Online Customer Center Available 24 x 7
- Regular Purchase APR See terms*
- Cash Advance APR See terms*
- Annual Fee See terms*
- Credit Needed Fair
- Processing Network Mastercard
- Build up your Credit with a card that reports to all three major credit bureaus every month
- Perfect credit not required for approval; we may approve you when others won’t
- Easy and secure online application – it just takes moments to apply
- You may be eligible for a Credit Line Increase after six months
- Regular Purchase APR: See terms*
- Cash Advance APR: See terms*
- Cash Advance Transaction Fee: See Terms*
- Annual Fee: See terms*
- Foreign Transaction Fee: See Terms*
- Late Payment Penalty Fee: See Terms*
- Return Payment Penalty Fee: See Terms*
First Access Solid Black VISA® Credit Card
Raise Credit with Monthly Activity Reporting
- Regular Purchase APR See Terms*
- Cash Advance APR See Terms*
- Annual Fee See Terms*
- Credit Needed Fair , Poor
- Processing Network Visa
- Reporting monthly to all three major credit reporting agencies
- All credit histories considered for this no security deposit credit card
- Perfect credit not required for approval; we may approve you when others won't
- Easy and secure online application
- Get the security and convenience of a full-featured, unsecured Visa® credit card - accepted at millions of merchant and ATM locations nationwide and online
- $300 credit limit (subject to available credit)
- Regular Purchase APR: See Terms*
- Cash Advance APR: See Terms*
- Cash Advance Transaction Fee: See Terms*
- Annual Fee: See Terms*
- Late Payment Penalty Fee: See Terms*
- Return Payment Penalty Fee: See Terms*
Horizon Gold Card
No Credit Required
- Annual Fee None
- Credit Needed No Credit Required
- 0% purchase APR
- No credit check required
- Fast online application
- Includes access to My Privacy Protection, My Universal RX, My Roadside Protect and My Legal Assistance benefits
- Late Payment Penalty Fee: $20
- Return Payment Penalty Fee: $25
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Showing 92 Cards
Date Reviewed: June 22, 2020
Surge Mastercard® Credit Card
- Regular Purchase APR See Terms*
- Cash Advance APR See Terms*
- Annual Fee See Terms*
- Credit Needed Fair , Poor
- Processing Network Mastercard
- See if you’re Pre-Qualified with no impact to your credit score
- Free access to your Vantage 3.0 score from TransUnion* (When you sign up for e-statements)
- Monthly reporting to the three major credit bureaus
- Fast and easy application process; results in seconds
- Use your card at locations everywhere Mastercard® is accepted
- Regular Purchase APR: See Terms*
- Cash Advance APR: See Terms*
- Cash Advance Transaction Fee: See Terms*
- Annual Fee: See Terms*
- Foreign Transaction Fee: See Terms*
- Late Payment Penalty Fee: See Terms*
- Return Payment Penalty Fee: See Terms*
Date Reviewed: June 18, 2020
Applied Bank Secured Visa® Gold Preferred® Card
- Regular Purchase APR 9.99%
- Cash Advance APR 9.99%
- Annual Fee $48
- Credit Needed Poor , No Credit Required
- Processing Network Visa
- Better than Prepaid...Go with a Secured Card! Load One Time - Keep On Using
- Absolutely No Credit Check or Minimum Credit Score Required
- Automatic Reporting to All Three National Credit Bureaus
- 9.99% Low Fixed APR – Your Rate Won’t Go Up Even if You Are Late
- Activate Today with a $200 Minimum Deposit – Maximum $1,000. Increase Your Credit Limit up to $5,000 by Adding Additional Deposits Anytime
- Regular Purchase APR: 9.99%
- Cash Advance APR: 9.99%
- Cash Advance Transaction Fee: Either $5 or 5% of the amount of each cash advance, whichever is greater
- Annual Fee: $48
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $38
- Return Payment Penalty Fee: Up to $38
- Minimum Deposit Required: $200
Date Reviewed: June 16, 2020
Assent Platinum 0% Intro Rate Mastercard Secured Credit Card
- Regular Purchase APR 12.99% variable based on the Prime Rate
- Cash Advance APR 18.99% variable based on the Prime Rate
- Annual Fee $49
- Credit Needed Poor , No Credit Required
- Intro Purchase APR 0% for 6 months from account opening date
- Processing Network Mastercard
- Full-Feature Platinum Mastercard* Secured Credit Card
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Good for Car Rental, Hotels: Anywhere Credit Cards Are Accepted!
- 24/7 Online Access to Your Account
- Credit Line Secured by Your Fully-Refundable Deposit of $200 – $2,000 Submitted with Application
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 12.99% variable based on the Prime Rate
- Cash Advance APR: 18.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Annual Fee: $49
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $29
- Minimum Deposit Required: $200
Date Reviewed: April 27, 2020
Total Visa® Unsecured Credit Card
- Regular Purchase APR See Terms*
- Cash Advance APR See Terms*
- Annual Fee See Terms*
- Credit Needed Fair , Poor
- Processing Network Visa
- Fast and easy application process; response provided in seconds
- A genuine Visa® card accepted by merchants nationwide across the USA and online
- Manageable monthly payments
- $300 credit limit (Subject to available credit)
- Select your favorite card design from our gallery, for free!
- Regular Purchase APR: See Terms*
- Cash Advance APR: See Terms*
- Cash Advance Transaction Fee: See Terms*
- Annual Fee: See Terms*
- Late Payment Penalty Fee: See Terms*
- Return Payment Penalty Fee: See Terms*
Date Reviewed: April 13, 2020
Reflex Mastercard® Credit Card
- Regular Purchase APR See Terms*
- Cash Advance APR See Terms*
- Annual Fee See Terms*
- Credit Needed Good , Fair , Poor
- Processing Network N/A
- See if you’re Pre-Qualified with no impact to your credit score
- Free access to your Vantage 3.0 score from TransUnion* (When you sign up for e-statements)
- Monthly reporting to the three major credit bureaus
- Use your card at locations everywhere Mastercard® is accepted
- Regular Purchase APR: See Terms*
- Cash Advance APR: See Terms*
- Cash Advance Transaction Fee: See Terms*
- Annual Fee: See Terms*
- Foreign Transaction Fee: See Terms*
- Late Payment Penalty Fee: See Terms*
- Return Payment Penalty Fee: See Terms*
Date Reviewed: April 13, 2020
First Progress Platinum Prestige Mastercard® Secured Credit Card
- Regular Purchase APR 9.99% variable based on the Prime Rate
- Cash Advance APR 18.99% variable based on the Prime Rate
- Annual Fee $49
- Credit Needed Poor , No Credit Required
- Processing Network Mastercard
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application
- Full-Feature Platinum Mastercard® Secured Credit Card
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- 24/7 Online Access to Your Account
- Regular Purchase APR: 9.99% variable based on the Prime Rate
- Cash Advance APR: 18.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Annual Fee: $49
- Foreign Transaction Fee: 3% of the transaction amount
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $29
- Minimum Deposit Required: $200
Date Reviewed: April 13, 2020
First Progress Platinum Elite Mastercard® Secured Credit Card
- Regular Purchase APR 19.99% variable based on the Prime Rate
- Cash Advance APR 24.99% variable based on the Prime Rate
- Annual Fee $29
- Credit Needed Poor , No Credit Required
- Processing Network Mastercard
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application
- Full-Feature Platinum Mastercard® Secured Credit Card
- 24/7 Online Access to Your Account
- Regular Purchase APR: 19.99% variable based on the Prime Rate
- Cash Advance APR: 24.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Annual Fee: $29
- Foreign Transaction Fee: 3% of the transaction amount
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $29
- Minimum Deposit Required: $200
Date Reviewed: March 31, 2020
Group One Platinum Card
- Annual Fee None
- Credit Needed Poor , No Credit Required
- Processing Network N/A
- $500 credit limit
- No employment or credit check to apply
- Reports activity to major credit bureau
- Fast and easy application
- Late Payment Penalty Fee: $20
- Return Payment Penalty Fee: $25
Date Reviewed: February 21, 2020
SDCCU Share Secured Visa Classic
- Regular Purchase APR 15%
- Balance Transfer APR 15%
- Cash Advance APR 15%
- Annual Fee $20
- Credit Needed Poor , No Credit Required
- Processing Network Visa
- One low fixed APR for all transactions
- Build or repair your credit
- Security Deposit ensures you won't spiral into debt
- Use your card just like a regular credit card
- Regular Purchase APR: 15%
- Balance Transfer APR: 15%
- Balance Transfer Transaction Fee: Either $1 or 2% of the amount of each transfer, whichever is greater
- Cash Advance APR: 15%
- Cash Advance Transaction Fee: Either $1 or 2% of the amount of each cash advance, whichever is greater
- Annual Fee: $20
- Foreign Transaction Fee: 2% of each transaction in U.S. dollars
- Late Payment Penalty Fee: Up to $10
- Return Payment Penalty Fee: Up to $20
- Minimum Deposit Required: $300
Date Reviewed: February 18, 2020
BrightStar Credit Union Visa Platinum Secured
- Regular Purchase APR 8.99% variable based the Prime Rate
- Balance Transfer APR 8.99% variable based the Prime Rate
- Cash Advance APR 8.99% variable based the Prime Rate
- Annual Fee None
- Credit Needed Poor , No Credit Required
- Processing Network Visa
- No annual fee
- Same APRs as a regular credit card
- Reduced introductory balance transfer APR for 6 months on balance transfers
- Cash advance APR equal to regular purchase APR
- Regular Purchase APR: 8.99% variable based the Prime Rate
- Intro Balance Transfer APR: 3.99% for 6 months on transfers made within 60 days from account opening date
- Balance Transfer APR: 8.99% variable based the Prime Rate
- Cash Advance APR: 8.99% variable based the Prime Rate
- Cash Advance Transaction Fee: $1
- Foreign Transaction Fee: 0.80% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $25
- Return Payment Penalty Fee: Up to $25
- Minimum Deposit Required: $550
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What Is a Bad Credit Score?
A bad credit score is a score that falls below what credit reporting bureaus deem to be average, or “fair.” Bad scores indicate that a person is at a higher risk of missing payments, making late payments, or defaulting on their loans.
To put it bluntly, a bad or poor credit score tells a bank or lender that an individual is less creditworthy than someone with a higher score. Fortunately, credit scores are not set in stone. Instead, they are easily changeable through proactive measures and following financial best practices.
Credit Score Range
Before fixing a damaged credit score, it is crucial to understand what a credit score is, and what is considered good, bad, or ugly by different credit reporting bureaus. The two main credit scoring models that banks use to gauge creditworthiness are FICO and VantageScore.
FICO Score
FICO is the oldest of the credit scoring systems, and as such, is the most popular among banks. A FICO score ranges from 300 to 850, with ratings ranging from Very Poor (bad) to Exceptional.
The FICO scoring model breaks down as follows:
VantageScore
VantageScore is a newer scoring model created by the three leading credit agencies: Experian, Equifax, and TransUnion. Like FICO, VantageScore ranges from 300 to 850, but places more scoring weight on newer credit histories than FICO.
The VantageScore model breaks down as follows:
What Influences a Credit Score?
As you can see from both models, there are plenty of Americans currently struggling with a sub-prime or bad credit score. But what are the items and factors that influence credit scores?
FICO places significant weight on payment history, as this is the biggest indicator of a person’s ability to repay any new credit they may receive. Nearly as important is the amount of available credit that individual is currently utilizing, which makes up 30% of the score.
Of less significance, but still important) are the types of credit a person has, the number of hard inquiries they have in the past 12 months, and the length of their overall credit history. VantageScore places a much greater emphasis on types of credit (or credit mix) than FICO. Equally important, however, is payment history.
How Bad Credit Can Hurt You Financially
What impact can a bad credit score have on your financial life? Or even your everyday life, for that matter?
Tougher to Receive Credit
The most obvious impact of bad credit is a more difficult time getting approved for new lines of credit. Those with poor credit will struggle to get most credit cards with a few notable exceptions. Banks are much less willing to extend credit to those with bad credit, and only credit cards for bad credit or secured credit cards will be an option. People with bad credit will also struggle with getting personal loans, car loans, and mortgages.
Related Article: What is the easiest credit card to get with bad credit?
Higher Loan Terms
Poor credit will not eliminate any chances at getting cards or loans, but those lines of credit will come with less favorable terms. Loans and credit cards for poor credit feature very high-interest rates, higher annual fees, and potentially monthly service fees.
Difficulty Renting Apartments
Poor credit directly impacts your ability to find housing. Landlords may be less willing to take a risk with someone with bad credit, viewing them as a potential liability.
Loss of Employment Opportunities
Bad credit can even impact your professional life. Many employers access the credit reports of potential hires to see if they are a trustworthy, reliable individual. While companies can’t access your credit score, the information on your report may make you seem like a liability. Some government agencies won’t hire people with poor credit, viewing them as a security risk due to their financial situation.
How to Improve a Bad Credit Score
Bad credit has serious ramifications in everyday life. Fortunately, there is something you can do about it! Here are some of our top tips for improving your credit score:
- Check Your Credit Score: The first thing you should do is check your credit score to see where you stand. You might already know your credit score is bad, but how far down on the scale, does it go? Knowing how fast you can improve your credit from “bad” to “fair” is crucial to making a financial plan of attack.
- Get a Credit Card for Bad Credit: Part of boosting your credit score is increasing your use of credit. For those with bad credit, this may seem counter-intuitive. After all, if your score is already and, how can you get a credit card? Fortunately, there are many unsecured credit cards for poor credit and secured cards that can help you repair your credit score.
- Always Pay on Time Every Month: As seen in the scoring models, payment history is the biggest factor in your credit score. Because payment history is so important, paying your credit card bill on time each month is essential to boosting sub-prime credit. Missed payments stay on a credit report for seven years. This means they can harm your score for years to come.
- Keep Your Credit Utilization Low: Credit utilization is as important as paying on time. Credit utilization shows lenders how you use your credit. Those who keep their credit use below 30% can expect their score to improve, while those who use less than 10% can expect a much faster score rise. Using too much of your available credit may make banks think you are stretching yourself thin financially. This makes you a greater risk in their eyes.
What Are the Best Credit Cards for Bad Credit?
Bad credit scores do not automatically mean you can’t get credit cards. There are credit cards for bad credit with no deposit. A bad score simply means your options are limited.
Secured Cards for Poor Credit
Secured credit cards are one of the best options for those with poor credit. They work by requiring a cash deposit that also acts as the credit line. This deposit makes the line of credit less of a risk to lenders, meaning they are easier to get – even with bad credit.
Secured cards work in the same way as a traditional credit card, just with an initial deposit. Want to raise your credit limit? Increase your deposit. Make your payments on-time, and you can even graduate to an unsecured card.
When you close your account, your deposit is returned, provided your account is in good standing.
The Best Secured Cards for Bad Credit
- For Lowest APR (tie): Green Dot primor® Secured Visa® Gold Card and First Progress Platinum Prestige Mastercard® Secured Credit Card
- For Those New to Credit: Green Dot Visa® Secured Credit Card
- If You’re Looking for Rewards: Discover It Secured
- Best for No Credit Check: OpenSky Credit Card
Unsecured Credit Cards for Bad credit
There are also several good unsecured credit cards for bad credit scores. These cards differ from secured cards in that they don’t require a security deposit. They are your traditional credit cards, just designed for rebuilding credit.
While secured cards are ideal for someone whose credit journey started without a credit score, unsecured cards are great for people whose score is bad. The lack of deposit requirement means no prepaid card limits and more available money in your bank account.
Credit cards for bad credit (no deposit) usually feature an annual fee, which can range from around $30 to $99 depending on your credit history and score. These cards also have higher interest rates and fees for late payments. Of course, those serious about repairing their credit score won’t have to worry, as paying your balance in full and on time won’t result in any interest payments at all.
The Horizon Gold Card and Group One Platinum Card are the closest things to a guaranteed approval secured credit card for bad credit. These cards offer an intro $500 line of credit to the Horizon Shopping Outlet and regularly report to the major credit bureaus.
The Best Unsecured Credit Cards for Bad Credit
- For a Credit Limit Increase: Reflex Mastercard® Credit Card
- If You’re Looking for Pre-Qualification: Milestone® Gold Mastercard®
- Best for Easy Approval: Group One Platinum Card
- Top Visa for Bad Credit: First Access Solid Black VISA® Credit Card
Tips for Finding the Perfect Bad Credit Card
There are thousands of credit cards for bad credit on the market today. These include secured cards and unsecured cards. Some cards are from larger issuers, such as the Capital One Secured Mastercard. Others are from smaller banks, like the OpenSky Visa.
With so many options to choose from, how can you determine what the right credit card is for your credit score and needs? Here are some key factors to examine when deciding on your next credit card:
- APR: Pay close attention to the interest rates that your card charges. Some cards may offer a fixed-rate, meaning the APR won’t vary based on creditworthiness. Others have a variable APR. A variant rate means people with different credit scores get a different rate.
- Fees: Always read the terms and conditions before choosing a card. Some cards feature hidden fees, making it very expensive to miss payments or even use the card every day. These conditions are available on the web sites of the card issuer, as well as on our comprehensive review pages.
- Credit Score Needed: Always check the credit score you’ll need to apply. Again, BestCards always includes this information in our reviews. Some cards, like the Total Visa, require no credit or poor credit. This low credit needed requirement makes it a very accessible option.
- Credit Bureau Reporting: Make sure your card regularly reports to the three major credit bureaus. Monthly reporting is key to building your credit score. This is especially true if you practice good financial habits and pay your balance in full every month.
Find the Best Card for Rebuilding Credit Today
The team at BestCards.com knows how hard it can be to rebuild credit, especially without the right tools and knowledge. That’s why we strive to provide insightful credit card reviews, as well as informative articles and advice to guide you. Take advantage of these resources and more to find credit cards for a 500 credit score, credit cards for a 550 credit score, or anywhere in between!
