1.Capital One Platinum Secured Credit Card
Capital One
- No rewards breakdown available
N/A
The Capital One Platinum Secured Credit Card does not offer cash back or any other purchase rewards.
28.99% Variable APR
The Capital One Platinum Secured Credit Card is an excellent choice for those looking to build or rebuild their credit history without the burden of an annual fee. Its straightforward approach to credit building makes it a reliable option for new cardholders.
Pros:
- No annual fee
- Helps build credit
Cons:
- No rewards
- Requires a security deposit
2.Discover it Secured Credit Card
Discover
- 5%Cash back on rotating categories each quarter
- 1%Cash back on all other purchases
Discover it Secured Credit Card features an Unlimited Cashback Match as its first-year welcome offer, matching dollar-for-dollar all the cash back you earn at the end of your first 12 months.
Earn 5% on the first $1,500 spent on rotating categories each quarter and 1% on everything else.
23.24% Variable APR
What sets the Discover it Secured Credit Card apart is its unique rewards structure, allowing cardholders to earn cash back on their purchases while building credit. The Unlimited Cashback Match in the first year further enhances its appeal, making it a top choice for those looking to establish a solid credit history.
Pros:
- No annual fee
- Cash back rewards
Cons:
- Applications temporarily paused
- Requires a security deposit
- 10%Cash back on everyday purchases
The OpenSky Plus Secured Visa Credit Card offers a $35 statement credit welcome bonus through select promotional affiliate links when you complete a $450+ same-day funding deposit upon opening your account.
The OpenSky Plus Secured Visa Credit Card offers a cash back rewards program earning up to 10% cash back on everyday purchases.
28.24% Variable APR
The standout feature of the OpenSky Plus Secured Visa Credit Card is its impressive cash back rewards program, offering up to 10% back on everyday purchases. This card is particularly appealing for those looking to build credit while also enjoying rewards, making it a unique option in the secured credit card market.
Pros:
- No credit check required
- Cash back rewards
Cons:
- Annual fee
- Limited rewards structure
4.Credit One Bank Platinum Visa for Rebuilding Credit
Credit One Bank
- 1%Cash back on eligible purchases
N/A
The Credit One Bank Platinum Visa for Rebuilding Credit offers 1% cash back on eligible everyday purchases including gas, groceries, and utility bills.
29.74% Variable APR
The Credit One Bank Platinum Visa for Rebuilding Credit is designed for individuals looking to rebuild their credit without the need for a security deposit. Its cash back rewards on everyday purchases provide some value, but the high annual fee may deter some potential cardholders.
Pros:
- No security deposit required
- Cash back on purchases
Cons:
- High annual fee
- Limited rewards
5.Fortiva Cash Back Rewards Mastercard
Fortiva
- 3%Cash back on gas, groceries, and utilities
- 1%Cash back on all other eligible purchases
N/A
The Fortiva Cash Back Rewards Mastercard earns 3% cash back on eligible gas, groceries, and utilities, and 1% cash back on all other eligible purchases.
36%
The Fortiva Cash Back Rewards Mastercard shines with its cash back rewards structure, offering 3% back on essential purchases like gas and groceries. However, potential cardholders should be cautious of the high annual fee and APR, which may offset the benefits of the rewards.
Pros:
- Cash back rewards
- Reports to credit bureaus
Cons:
- High annual fee
- High APR
6.Total Visa Card
Total
- No rewards breakdown available
N/A
The Total Visa Card does not offer a sign-up or welcome bonus for new cardholders.
29.99%-35.99%
The Total Visa Card is tailored for individuals with bad or limited credit, offering an unsecured option without a security deposit. However, its high fees and interest rates may be a significant drawback for potential users.
Pros:
- No security deposit required
- Unsecured credit card
Cons:
- High fees
- High APR
Did you know?
Before you apply, look up credit card basics like APR and fees in our Financial Dictionary. Rewards pay off most when your real spending already hits the card's bonus categories.
Final Words
When selecting the best credit card for bad credit, focus on options that help you build your credit history while minimizing fees. Take time to compare features, fees, and benefits to make an informed decision that aligns with your financial goals.
Frequently Asked Questions
The Discover it Secured Credit Card features an Unlimited Cashback Match as its first-year welcome offer, matching dollar-for-dollar all the cash back you earn at the end of your first 12 months.
The OpenSky Plus Secured Visa Credit Card offers a cash back rewards program earning up to 10% cash back on everyday purchases.
The Capital One Platinum Secured Credit Card does not offer cash back or any other purchase rewards.
Many credit cards for bad credit, including secured cards, often have no annual fees. However, fees may vary, so it's essential to review the terms of each card before applying.
To improve your chances of approval, consider applying for secured credit cards, which require a cash deposit as collateral. Additionally, check your credit report for errors and ensure your accounts are in good standing.
When choosing a secured credit card, consider factors like annual fees, interest rates, and the potential for transitioning to an unsecured card. Also, look for cards that offer rewards or cashback to maximize your benefits.
Applying for a credit card for bad credit typically involves filling out an online application with your personal and financial information. Be prepared to provide details about your income and any existing debts.
