Having a bad credit score is seriously life-changing. Let alone if you are interested in a mortgage or insurance since both services demand your credit report to be checked. The bad score will definitely blow up your chance because it is high-key possible for the bank to turn down your request. The best secured credit card 2015 here gives you the information about good second-chance cards that you might consider in order to rebuild your credit history.
Choices of the Best Secured Credit Card 2015
The first card of the best secured credit card 2015 comes from U.S. Bank. With moderate purchase rate—that is 18.99% the APR, this card will certainly give the chance to revise your total credit score. Like many of secured credit card services, this one provided by U.S. Bank will report your transactions to three big financial institutions. Those are Experian, Equifax, and TransUnion. Therefore, a good habit of transaction surely makes your name better in the light of those three big banks.
Another thing you should know about this particular best secured credit card 2015 is that it costs you an annual fee. The amount of annual fee is also rather high—which is $29. As a note, this card works best if you don’t have any balance to carry. If you indeed still have a balance to carry, then it might be safe to opt for a card with lower APR instead.
The second card is provided by Capital One. As the best secured credit card 2015, this card cost you no annual fee at all. It is clearly different and obviously beneficial than the previous credit card. However, on the down side, the purchase rate of this card is noticeably higher than the U.S. Bank Secured Visa. If the purchase rate of the U.S. Bank Secured Visa is no more than a couple of dollars. This card reaches up to $24.99. Well, it is not an odd thing if we constantly remember that each card have their own perks.
As for reporting transaction, this particular best secured credit card 2015 from Capital One is somewhat the same with the previous card. Just like the other, this card also reports your transactions to those three big financial institutions; Experian, Equifax, and TransUnion.
With these secured credit cards, hopefully, you don’t lose hope. Using a secured credit card will help to build your good score and history of credit faster than you ever wonder. However, as the list of the best secured credit card 2015 could keep going on—one thing you should seriously put on note is nothing would work with choosing one of these cards alone.
A good score of credit will come up together with your commitment in rebuilding it. So, please don’t ever think that with only choosing a secured credit card you will have a better credit score. Your responsibility in using the best secured credit card 2015, without a doubt, has a significant role in your reports later.