There are a variety of ways to build credit. One of the easiest ways is to apply for a secured credit card. These cards have a lower interest rate, and are often more feature-rich. You can also try a starter credit card or student credit card. These cards can help build credit and improve credit scores.
OpenSky(r) Secured Visa(r) Credit Card
OpenSky Secured Visa(r), a credit card from OpenSky, has a $35 minimum annual fee and doesn't require credit checks. You will still need to deposit a security fee, which can range between $200 to $3,000. The deposit is returned to you after the account is closed. This helps reduce the risk to the lender, and it does not adversely affect your credit score.
With the OpenSky Secured Visa(r), you can set your credit limit. The credit limit is based on the amount of security deposit that you pay. Your financial situation will determine which credit limit you can choose.
Capital One Platinum Secured
The Capital One Platinum Secured Credit Card is an excellent choice for those who want 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. You can increase your credit limit by making more payments and improving your credit score. You can also use the card's helpful tools to keep track of your credit score, payments, and credit limit.
Capital One cards do not require Social Security numbers, which is especially useful for immigrants. For application, all you need is a form or identification of identification. The company will increase your credit limit after six months of responsible usage. Capital One doesn't charge any balance transfer fees. You can transfer your balance to other cards without paying fees. However, keep in mind that this card does not offer the best rewards or the cheapest balance transfer options.
Capital One Quicksilver Credit Card Cash Rewards
The Capital One Quicksilver Cash Rewards Credit card is an excellent option for people who want to simplify their financial lives. There is no annual fee and 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. It offers a generous signup bonus, 1.5% unlimited cash back, and few redemption limitations. Cashback can be redeemed to buy gift cards or cash. It is especially valuable for people who frequently spend money at gas stations or 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. The card has no annual fee and doesn't charge fees for late payments or overspending. The card does not have foreign transaction fees. This makes it great for people who make frequent purchases abroad. You can also get cash back on eligible purchases.
Petal 2 card offers a tiered rewards system. You will earn progressively greater rewards for each month you hold your card. The rewards begin at 1% cash back, but they will increase to 1.25 after six and twelve months. Certain merchants may also offer cash back up to 10%. You can also earn rewards by redeeming Petal Offers, which can earn you up to 10% cash back on eligible purchases.