If you never seen to get approved for a credit card because you made some mistakes in the past or you have a bad credit report, you can get a secured credit card as an alternative. Secured credit cards are easier to get because you don’t have to undergo complex analyses. You will get to know the best secured credit card for bad credit in this article. Read along and choose one that suits you the best.
The main reason you should get a secured credit card is your deposit will be returned when you close your account. This way, you don’t get any losses. Some even offer interest for your deposit. When choosing a secured credit card, make sure to make everything including the annual fee and interest rate since you can’t avoid paying those fees.
Here Are the Best Secured Credit Card for Bad Credit
Discover it offers a card that has many more benefits compared to the other cards. By getting this secured credit card, you can get various rewards in dining places, gas stations, or other places. The total of your reward each quarter can reach up to one thousand dollars. That way, you will receive a fantastic amount of cash back the more transactions you do. No wonder if this one tops the list of best secured credit card for bad credit.
Getting low on cash? Then choose this credit card for bad credit issued by Capital One. You can choose between making a deposit of 49, 99, or 200 dollars depending on your condition. Even better, if you make your payments on time during the first five months, your limit will automatically be increased. The other features that make this card one of the best secured credit cards is the benefits such as insurance when you rent a car and 24-hour assistance when you are using your transportation.
If you are worried you won’t get approved for a credit card because you recently got bankrupt or anything else, Open Sky Secured Credit Card is the best secured credit card. This card’s specialty is that it does not require any check on your credit. It only offers the same amount of limit, no matter how much deposit you make.
When having a high credit card limit is still your priority even if your card is a secured one, then you should consider the Wells Fargo Secured Credit Card. However, this might not be the best secured credit card for bad credit because setting a high credit limit might make you lose control in using your card.
Do you have a family member who is a veteran, civilian, or something similar? Then you can apply for the Navy Federal Rewards Secured Visa. What makes it unique is that it gives you reward for any money you spend. These rewards are in the form of points, and you can redeem your points for various prizes.
Does this list of best secured credit card for bad credit convince you enough to get a secured credit card? Try applying for one now and feel the benefits.