Having credit is an important part of life. It can help you to secure a large purchase like a car and even a home. Additionally, when you have a good credit score, it can dramatically impact your life and future in general.
It allows you to more easily be approved for a loan as well. The best option for this situation is a credit building credit card, of which there are some you should look into.
Discover it Student Cash Back Credit Card
One of the best credit cards for building credit is the Discover it Student Cash Back. With it, you can earn 5 percent cash back at a variety of places. This credit card can be used at grocery stores, gas stations, restaurants and Amazon.com. Other purchases made with the card earn you 1 percent unlimited cash back. There is no annual fee and the credit building credit card gives you a zero percent APR for the first six months on all purchases. After that time frame, the APR is between 14.99 to 23.99 percent. This is a great credit card for building credit for students.
Capital One Secured MasterCard
A secured credit card is an excellent option for building credit and boosting your credit score. It can also help you to rebuild. One of the best cards in that category is the Capital One Secured MasterCard. This card gives you a $200 credit line when you put down a deposit of $49, $99 or $200 toward it. There is no annual fee, an APR 24.99 percent and the ability to increase your credit line after your first five monthly payments are made on a timely basis. The credit building card also allows you to get free access to your monthly credit score. This credit card offers car rental and travel accident insurance, as well as extended warranty coverage. If you have bad credit you can check out options for bad credit at our credit cards for bad credit page here.
Capital One Platinum Credit Card
The Capital One Platinum credit card is good for building credit as well as for those who want to rebuild. There is no annual fee and the APR is 24.99 percent. You can get access to a higher credit limit after your initial five monthly payments are made on time. Enjoy unlimited access to credit tools like your VantageScore 3.0 credit score. You can sign for this card at capitalone.com Additional perks of this credit building credit card include 24-hour travel and roadside assistance and car rental insurance.
Capital One QuicksilverOne Cash Rewards Credit Card
Another good choice of credit card for building credit is the Capital One QuicksilverOne Cash Rewards credit card. With it, you can earn unlimited 1.5 percent cash back on all purchases and cash rewards in a variety of rotating categories. The card has a regular APR of 24.99 percent, a $39 annual fee and no balance transfer fees. While you build or rebuild your credit, you can also look forward to cash back rewards that never expire as long as you hold your account.
USAA Secured Card Visa Platinum Card
The USAA Secured Card Visa Platinum is a credit building credit card that is available for service members. Veterans and family members so can either build or rebuild their credit using USAA. A two-year certificate of deposit of $250 to $5,000 is needed to secure a credit limit, but it also earns interest. There is an APR range of 11.65 to 21.65 percent and a number of benefits, such as extended warranty coverage, travel accident insurance and trip cancellation insurance.
OpenSky Secured Visa Credit Card
The OpenSky Secured Visa is a credit building credit card that is appropriate for anyone building or rebuilding their credit. It comes with an annual fee of $35 and a regular APR of 19.14 percent. One of the best things about the card is that it is open to everyone to apply and there is no credit check needed. You simply put down a deposit as low as $200 and establish your credit line. This card is for building credit also reports to all three major credit bureaus like an unsecured card.