Building credit card is not as easy as snapping your fingers. Aside from plenty of requirements during application, some credit card issuers need to decide whether you are qualified or not. However, there is always solution for a problem. In case you are a beginner in credit card and needs appropriate way to build credit, you need to know the best secured credit card to build credit. There is a lot of choices to go when it comes to secured credit card.
For your information, secured credit card is a type of credit card that is technically simpler than regular credit card. Compared to the regular card that requires many things for application, secured credit card does not need that all. Instead, you need to submit certain amount of money for deposit. For any application of secured credit card to build credit, the issuers typically do not really consider whether or not you have credit history before. In short, secured credit is the best option to start or build a credit.
Best Options for Secured Credit Card to Build Credit
These secured credit card issuers are available to help you build the credit. Aside from being trustworthy, the best secured credit card to build credit below ensures your convenience by providing many features and benefits. Keeping low balance to help increase your credit score, here are several choices to go.
- Discover It
The first best secured credit card is issued Discover It. Among several benefits provided, no annual fee is a favorite feature. This is an additional point that becomes a reason to choose this secured credit card. Aside from no annual fee, this card allows you to get cashback for each purchase.
- Capital One
Capital One is always listed among the best options of secured credit card. It is designed with several benefits such as no annual fee and other benefit to build credit. This is suitable for those who have commitment to use credit card responsibly—that is the only way to build credit. All your account activities will be reported to the major credit bureaus.
Another best secured credit card to build credit comes from OpenSky. No credit check needed for the application, making this card is suitable for you to begin the credit history. They give opportunity for anyone who wants to join them. About the credit limit, you are required to have minimum deposit as low as $200.
The last option of best credit card is Citi. Among all, this might be the best option if you are new to credit card. Without annual fee, this card helps build your credit history by giving monthly notification to credit bureaus. The minimum deposit is also considered as low, which is only $200.
Those are several options of best secured credit card to build credit. This is like a stepping stone before applying to unsecured credit card which offers more benefits for you. As long as you are responsible with the card, your score will significantly increase within months.