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Self Visa® Credit Card
Self Visa® Credit Card
- 29.24% (Variable) Regular Purchase APR
At a Glance
The Self Visa® Credit Card is a secured credit card that pairs with an existing Self Credit Builder Account. The card has no formal approval process. Instead, hopeful consumers simply need to open a Self account and save over $100 to fund the secured Visa account.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
-
If you have an active Credit Builder Account in good standing, 3 on time payments, $100 or more in savings progress and satisfying income requirements you may be eligible to receive the Self Secured Visa Credit Card*, without a hard credit check. Criteria subject to change. • Build credit and savings at the same time. • Start with a Credit Builder Account* that reports monthly payments to all 3 major credit bureaus. • At the end of your plan, unlock the savings you built — minus interest and fees. • The Self Visa® Secured Credit Card* is accepted at millions of locations in the U.S.
*Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., SouthState Bank, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval. Self Visa® Credit Card issued by Lead Bank, First Century Bank, N.A., or SouthState Bank, N.A., each Member FDIC. See Self.inc for details. Subject to ID Verification. Individual borrowers must be a U.S. citizen or permanent resident and at least 18 years old. Valid bank account and Social Security Number are required. All loans are subject to consumer report review and approval.
- Regular Purchase APR: 29.24% (Variable)
- Annual Fee: $25
- Late Payment Penalty Fee: Up to $15
- Return Payment Penalty Fee: Up to $15
- You're serious about raising your credit score
- You already have a Self Credit Builder Account
- You don’t mind the card's $25 annual fee
- You plan to pay your card balance in full every month
Capital One Quicksilver Secured Cash Rewards Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card
- 29.99% variable based on the Prime Rate Regular Purchase APR
- 29.99% variable based on the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The Capital One Quicksilver Secured Cash Rewards Credit Card is a secured credit card that offers 1.5% cash back on all purchases, no annual fee, and no foreign transaction fees. Cardholders may automatically graduate to an unsecured version of the card with responsible use in as little as six months.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you wo't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
- Regular Purchase APR: 29.99% variable based on the Prime Rate
- Balance Transfer APR: 29.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you. None for balances transferred at the Transfer APR
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of the cash advance, but not less than $3
- Late Payment Penalty Fee: Up to $40
- Minimum Deposit Required: $200
- You have bad credit or no credit history at all
- You want to earn cash back rewards while building credit
- You don’t want to pay an annual fee
- You have at least $200 for a security deposit
U.S. Bank Cash+® Visa® Secured Card
U.S. Bank Cash+® Visa® Secured Card
- 29.99% variable based on the Prime Rate Regular Purchase APR
- 29.99% variable based on the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The U.S. Bank Cash+® Visa® Secured Card is a secured credit card that offers up to 5% cash back on purchases, reasonable minimum deposit requirements, and more – all for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Earn 5% back on the first $2,000 in combined eligible purchases each quarter in two categories you choose
- Earn 2% back on the first $2,000 in combined eligible purchases each quarter in one everyday category
- Earn 1% Back on all other purchases
- Earn 5% back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center
- Regular Purchase APR: 29.99% variable based on the Prime Rate
- Balance Transfer APR: 29.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either 5% of the amount of each advance or $10 minimum, whichever is greater
- Foreign Transaction Fee: 3% of each foreign transaction in US dollars
- Late Payment Penalty Fee: Up to $41
- Return Payment Penalty Fee: Up to $41
- Minimum Deposit Required: $300
- You have bad credit or no credit history
- You want the chance to graduate to a lucrative no annual fee, unsecured rewards card
- You want to earn up to 5% cash back
- You do't want to pay an annual fee
U.S. Bank Altitude Go Visa Secured Card
U.S. Bank Altitude Go Visa Secured Card
- 29.99% variable based on the Prime Rate Regular Purchase APR
- 29.99% variable based on the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The U.S. Bank Altitude Go Visa Secured Card offers 4X points on dining and takeout, 2X on groceries, gas, and streaming, and a $15 streaming statement credit – all for no annual fee. Cardholders also have the opportunity to automatically graduate to the unsecured Go Visa Signature with good financial habits and credit score growth.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 4X points on dining and takeout
- Earn 2X points on groceries, gas, and streaming services
- Earn 1X points on all other purchases
- No annual fee
- No foreign transaction fees
- Regular Purchase APR: 29.99% variable based on the Prime Rate
- Balance Transfer APR: 29.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either 5% of the amount of each advance or $10 minimum, whichever is greater
- Late Payment Penalty Fee: Up to $41
- Return Payment Penalty Fee: Up to $41
- Minimum Deposit Required: $300
- You have bad credit or no credit history
- You want the chance to graduate to a lucrative no annual fee, unsecured rewards card
- You want to earn 4X points on dining
- You don’t want to pay an annual fee or foreign transaction fees
Cleo Credit Builder Card
Cleo Credit Builder Card
At a Glance
The Cleo Credit Builder Card, issued by WebBank, is designed to get your credit where it needs to be. Easy and convenient signup for the secured charge card takes just three minutes through the Cleo App. No hassles or hoops to jump through to get started. Stay focused on boosting your credit score without the worry of credit checks and no interest on purchases.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Put cash into your security deposit, which acts as, and increases, your credit line
- Account status is reported to 3 credit bureaus (Experian, Equifax, TransUnion)
- Cleo Credit Builder Card helps you build up your score over time
- No interest rates or fees
- Must have a Cleo Builder Subscription plan to apply for the Cleo Credit Builder Card
- Minimum Deposit Required: $1
- You want to build or establish credit without the fees of traditional credit cards
- You don’t mind paying a subscription to shape a better-looking credit score
- You would like a realistic line of credit to fit your lifestyle needs via a secured deposit
- You seek the convenience of an AI budgeting assistant in combination with credit building
Mission Money Visa® Debit Card
Mission Money Visa® Debit Card
At a Glance
The Mission Money™ Visa® Debit Card is a fee-free debit card that offers a helpful mobile app to streamline your day-to-day finances. From Mission Lane, the card offers no foreign transaction fees, no monthly service fees, and no hidden fees of any kind.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No account fees, no balance minimum
- Access to 55,000 ATMs nationwide, fee-free
- The coverage of VISA®, the security of FDIC
- Foreign Transaction Fee: $0
- Late Payment Penalty Fee: $0
- Return Payment Penalty Fee: $0
- Over Limit Penalty Fee: $0
- You want a spending account with no account fees or balance minimums
- You want access to 55,000 ATMs nationwide, fee-free
- You don’t want a credit check but still want the coverage of Visa® and the security of FDIC
- You don’t want to pay foreign transaction fees
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Applied Bank® Secured Visa® Gold Preferred® Credit Card
- 9.99% Fixed Rate Regular Purchase APR
- 9.99% Fixed Rate Cash Advance APR
At a Glance
The Applied Bank® Secured Visa® Gold Preferred® Card offers those with limited credit history or a poor credit score the chance to receive a full-fledged Visa card without the need for a credit check. The card also boasts and impressively low fixed APR on purchases and cash advances – all for the modest annual fee of $48.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 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% Fixed Rate
- Cash Advance APR: 9.99% Fixed Rate
- 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
- You have bad credit, limited credit, or no credit history at all
- You want a card that automatically reports to all the major credit bureaus
- You are tired of spending money on reloadable prepaid cards
- You can make a minimum deposit of at least $200
Verve Mastercard®
Verve Mastercard®
- See Terms* Regular Purchase APR
- See Terms* Cash Advance APR
At a Glance
The Verve Mastercard® is a no-frills credit card that offers a lifeline to those with bad credit. From Continental Finance and Bank of Missouri, the card features a modest credit limit, the chance at a credit line increase after six months, and more.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- All credit types welcome to apply!
- Monthly reporting to the three major credit bureaus
- Initial Credit Limit of $300.00 to $1,000.00* (subject to available credit)
- Fast and easy application process; results in seconds
- Use your card at locations everywhere that Mastercard® is accepted
- Free online account access 24/7
- Checking Account Required
- 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*
- You have damaged credit
- You want to establish a good credit history with on-time payments
- You do't want a secured credit card
- You have a mail offer to apply to
Cerulean Mastercard®
Cerulean Mastercard®
- See Terms* Regular Purchase APR
- See Terms* Cash Advance APR
At a Glance
The Cerulean Mastercard offers a lifeline to those with imperfect credit by providing unsecured credit lines and monthly reporting to the major credit bureaus.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- All credit types welcome to apply!
- Monthly reporting to the three major credit bureaus
- Initial Credit Limit of $300.00 to $1,000.00* (subject to available credit)
- Fast and easy application process; results in seconds
- Use your card at locations everywhere that Mastercard® is accepted
- Free online account access 24/7
- Checking Account Required
- 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*
- You have damaged credit
- You want to establish a good credit history with on-time payments
- You don’t have the funds for a security deposit
- You have a mail-offer to apply
Merrick Bank Secured Credit Card
Merrick Bank Secured Credit Card
- 22.70% Variable Regular Purchase APR
- 27.70% Variable Cash Advance APR
At a Glance
The Merrick Bank Secured Credit Card is an effective tool for boosting your credit score. The card features a very competitive APR on purchases, a modest annual fee of $36, and the chance at credit limit increases – without the need for any additional cash deposits.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Choose your own credit line based on how much money you want to put down as a security deposit
- Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000
- After 9 months, we review your account for a credit line increase. No additional deposit required!
- Secured Credit Cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds
- Unlike a debit card or a pre-paid card, it helps build your credit history. We report your payment history to all three major credit-reporting agencies
- Get your FICO® Credit Score for free each month
- Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with available Auto Pay and account alerts
- Card issued by Merrick Bank, Member FDIC
- Regular Purchase APR: 22.70% Variable
- Cash Advance APR: 27.70% Variable
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater
- Annual Fee: $36 for first year. Billed $3 per month thereafter
- Foreign Transaction Fee: 2% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- Minimum Deposit Required: $200
- You're looking to establish credit for the first time
- You have credit problems and need to bounce back with a secured card
- You want the chance of additional credit lines with an extra deposit
You've viewed 5 of 122 credit cards
What is a Bad Credit Score?
According to statistics from Experian, one of the major credit bureaus, 16% of Americans suffer from a bad credit score. Bad credit causes serious financial harm, making it tough to get a mortgage, car loan, or the best credit cards.
But what is bad credit, and what causes it?
Bad credit refers to a low credit score resulting from a history of missed payments, late payments, bankruptcy, or other negative financial events. A bad or deep-subprime credit score may also indicate a limited credit history. This credit rating indicates to lenders that you may be a higher-risk borrower, which could lead to difficulty obtaining credit at favorable terms, such as loans, mortgages, or credit cards.
On the FICO Score scale, a bad credit score falls within the range of 300 to 579, while on the VantageScore scale, it ranges from 300 to 499.
How Can Bad Credit Impact Your Life?
Here are some ways bad credit can cause problems in your everyday life.
Renting an Apartment
One of the biggest impacts of a bad credit score is the difficulty in finding an apartment to rent. Renting a home or apartment typically involves a credit check, which helps landlords assess the risk posed by potential tenants. A bad credit score, including a history of late payments, can prevent you from securing a new place to live.
Insurance and Bills
Bad credit also makes it more challenging to pay bills and obtain insurance. Utility companies may be hesitant to accept you as a customer if you have a poor credit score, often requiring a deposit before providing services such as electricity, gas, or water.
Similarly, insurance companies consider your credit when determining your insurance premiums. Bad credit is associated with higher insurance costs, particularly with auto insurance, as insurers believe individuals with lower credit scores are more likely to file claims.
Employment
Statistics show up to 70% of employers conduct credit checks during hiring. Companies use these checks to evaluate potential hires’ responsibility levels. While bad credit doesn’t necessarily indicate unreliability, employers may view it as a red flag and choose another candidate instead.
Relationships
A bad credit score can indirectly create problems in your personal life. The inability to secure a mortgage, rent an apartment, or obtain a car loan can strain family and personal relationships. Constant calls from bill collectors or collection agencies can also cause issues at home.
What Causes Bad Credit?
Bad credit can result from any number of situations and circumstances. The most common cause of a poor credit score is a history of late or missed payments, which reflects poorly on your creditworthiness. Another cause is excessive debt, where your credit utilization ratio is high, indicating that you have borrowed a significant portion of your available credit. Additionally, bankruptcy, foreclosure, and collections can all contribute to bad credit. Understanding these factors is essential so you can effectively address them.
How to Improve Your Credit
Bad credit has serious ramifications in everyday life. Fortunately, there is something you can do – here are some of our top tips for improving your credit score:
① 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. |
② Get a credit card for subprime credit | Part of boosting your credit score is increasing your use of credit. For those with bad credit, this may seem counter-intuitive. Fortunately, there are many unsecured credit cards for poor credit and secured cards that can help you repair your credit score. |
③ Pay on time each 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. |
④ Keep your credit use 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. |
Tips for Managing and Paying Off Debt
Managing and paying off debt is crucial for improving your financial health. Start by creating a realistic budget that allocates funds toward debt repayment. To tackle your debts effectively, consider the snowball or avalanche method.
- Snowball method: Pay off your smallest debt first and then move on to the next, creating a sense of accomplishment and motivation.
- Avalanche method: Prioritize debts with the highest interest rates to save money on interest payments.
Whichever method you choose, allocate as much money as possible towards monthly debt repayment.
Credit Counseling and Debt Consolidation Options
If you find yourself overwhelmed by debt and unable to make progress independently, consider seeking professional help. Credit counseling agencies can provide guidance and support in managing your finances and developing a plan to pay off your debts. They can also negotiate with creditors on your behalf to establish new repayment terms.
Debt consolidation is another option worth exploring. This involves combining multiple debts into one loan or credit card with a lower interest rate, making it easier to manage your payments and save money.
Conclusion
Bad credit can be challenging, but with the right knowledge and strategies, you can rebuild your credit and move towards a brighter financial future. Understanding the causes of bad credit, checking your credit score and report regularly, and implementing practical steps to improve your credit will set you on the path to financial success. Remember, it takes time and discipline, but the effort is worth it.
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Sub-Prime & Secured Credit Cards
Editorial Disclosure – The opinions expressed on BestCards.com's reviews, articles, and all other content on or relating to the website are solely those of the content’s author(s). These opinions do not reflect those of any card issuer or financial institution, and editorial content on our site has not been reviewed or approved by these entities unless noted otherwise. Further, BestCards.com lists credit card offers that are frequently updated with information believed to be accurate to the best of our team's knowledge. However, please review the information provided directly by the credit card issuer or related financial institution for full details.