Do you need a credit card for bad credit? You don’t need to be a rocket scientist to figure out that you need to focus on finding a credit card issuer that offers guaranteed acceptance. A bad credit card will help you rebuild your credit and raise your overall credit score.
This is the primary reason why personal financial consultants encourage their clients to apply for a credit card with bad credit. It’s fair to say that credit cards for bad credit no deposit will continue to grow in popularity as time progresses. We will now take a close look at the best credit cards for bad credit 2018.
Best Credit Cards for Bad Credit
The Capital One Secured Credit Card is an exceptional credit card for bad credit. There’s no annual fee, and Capital One will reward you if you use the card responsibly. Your spending activity will be reported to the three major credit bureaus. You must deposit $49, $99, or $200 to get things underway. Your credit score will determine your credit line. It’s important to point out that you can make your deposit in installment payments.
OpenSky Secured Visa Credit Card
Unlike many other secured credit cards in the market, OpenSky will not check your credit score. This bank really believes that consumers deserve another shot at getting their credit back on track. Luckily, you don’t need a bank account to apply for this secured credit card. This is the card you need to consider getting if you cannot get access to conventional banking services. The OpenSky Visa Credit Card is a solid option for anyone trying to rebound from bad credit. You are looking at guaranteed acceptance when you apply for this card.
Discover It Secured Credit Card
It would be a big mistake for you to overlook the Discover It Secured Credit Card when you are ready to apply for a credit card for bad credit. Besides offering wonderful rewards, the Discover It Secured Credit Card does not require their customers to pay an annual fee. This is one incentive that you will not find with many other credit cards for bad credit. If you handle the Discover It Secured Credit Card responsibly for at least 8 months, there’s a strong chance that your secured card will be converted into an unsecured credit card. Please keep in mind that you will be eligible to get cash back from your purchases.
Digital Federal Credit Union Visa Platinum Secured Credit Card
With the Digital Federal Credit Union Visa Platinum Secured Credit Card, you will get an instant decision. This is great news for people who hate the suspense that comes with applying for a bad credit credit card. As a credit card for bad credit, it offers outstanding rates. The regular annual percentage rate (APR) is 13.25%. This APR is better than what you will find with many other secured credit cards. There are no cash advance or balance transfer fees.
SDSFCU Savings Secured Visa Platinum Card
This is another card where you can expect to get an instant decision after applying. Many consumers have used the SDSFCU Savings Secured Visa Platinum Card to rebuild their credit within a reasonable amount of time. You will be given a $250 credit line. It will be linked to your savings account. With no annual fee lingering over your head, this is the perfect card to turn your credit situation around.
Wells Fargo Secured Credit Card
If you really need a credit card for bad credit, the Wells Fargo Secured Credit Card should be on top of your list. The Wells Fargo Card can help you get back on your feet. Your deposit will be your credit line. You need at least $300 to get this secured credit card. It’s also worth mentioning that Wells Fargo Secured Credit Card holders get free online education courses.
Capital One Platinum Credit Card
It’s hard discussing the best credit cards for bad credit 2018 without mentioning the Capital One Platinum Credit Card. It falls into the class of credit cards for bad credit no deposit. This unsecured credit card is ideal for anyone with a few bruises on their credit report. There’s no annual fee, and your credit limit will be increased if you use the card responsibly for a minimum of five months.
Credit cards with no deposit are ideal for consumers on a tight financial budget. The Indigo MasterCard is no slouch in the bad credit credit card industry. It’s not unusual for someone to get nervous when they apply for a credit card for bad credit. However, all credit histories are considered for this card. There’s no reason why you shouldn’t apply. It’s definitely a credit card for bad credit.