There are many ways you can build credit. A secured credit card is one of the best ways to build credit. These cards come with a lower interest and more features. You might also consider a student credit or starter card. These cards can help build credit and improve credit scores.
Secured Visa(r). OpenSky(r). Credit Card
OpenSky Secured Visa (r) credit cards have a $35 minimum annual charge and do not require a credit review. A security deposit of $200-$3,000 is required. After the account is closed is closed, the deposit will return to you. This helps minimize the risk to the lender and does not negatively impact your credit score.
OpenSky Secured Visa Card(r) allows you to set your credit limit. Your security deposit will determine your credit limit. Your financial situation may dictate which credit limit you choose.
Capital One Platinum Secured
The Capital One Platinum secured credit card is an excellent option for anyone who wants to build their credit. You will pay a low annual fee, and you'll need to deposit $49 or $99 depending on your security deposit. This card's credit limit will increase as you make more payments and improve your credit score. The card also has helpful tools that help you keep track of your payments, credit score, and available credit limit.
Capital One doesn't require you to have your Social Security number. This is especially beneficial for anyone who is new to the country. To apply, you only need to provide proof of identification, such as a driver’s license. After six months, the company may consider increasing your credit limit. Capital One does not charge balance transfer fees, so you can transfer your balance to another card without worrying about fees. However, keep in mind that this card does not offer the best rewards or the cheapest balance transfer options.
Capital One Quicksilver Cash Reward Credit Card
The Capital One Quicksilver Cash Rewards Credit card is an excellent option for people who want to simplify their financial lives. It doesn't have an annual cost and you get unlimited cash back. This is an ideal option for those who use their credit cards to purchase many items, such as flights or dining out. You don't have to pay interest or offset expenses.
Applicants with good to excellent credit should apply for this card. Its rewards program offers a generous sign-up bonus, unlimited 1.5% cash back, and few redemption restrictions. Cashback can also be used for cash, gift cards and statement credits. It is particularly helpful for people who spend a lot on gas stations and restaurants.
Petal 2 Visa Credit Card
The Petal 2 Visa Credit Card is a great option for those looking to open a credit card without a high interest rate or fees. There is no annual fee, and there are no fees for overspending or late payments. The card does not have foreign transaction fees. This makes it great for people who make frequent purchases abroad. For eligible purchases, it also offers cash-back.
The Petal 2 card has a tiered rewards program, which means that you will get progressively higher rewards the longer you have your card. Rewards start at 1% cashback but increase to 1.25 percent after six months and 1.5% thereafter. At certain merchants, you can earn as much as 10% cash back. You can also redeem Petal Offers for rewards, which can earn you as high as 10% cashback on your eligible purchases.