There are a number of low credit score credit cards available in the market. However, there are some drawbacks that you must be aware of before you choose a card.
What bank is best for bad credit?
First, make sure that the card is easy to get approved for. Besides, you should not opt for a card with high annual fees. You should also be patient when you are building your credit.
Secured credit cards are the best options for building your credit. These cards require a security deposit and you can keep your credit limit as long as you repay your monthly bills on time.
Besides, they are easy to get approved for and they offer a great advantage when you need to build your credit. Another benefit is that you can easily recover your full credit if you are not able to pay back the money.
Unsecured cards, on the other hand, come with sky-high interest rates and fees. That’s why it is important to inform your credit agency if you plan to apply for these cards.
A good option for building your credit is the Citi Secured Mastercard. It reports to all three credit bureaus, and it can help you build a strong credit history. Even though it does not offer rewards, it does not have a high annual fee.
The Capital One QuicksilverOne is another great choice for those with average credit. However, you should not choose this card if you have major negative marks on your credit report.