There may be several credit cards that are suitable for you if you have bad credit. While you may need to use a credit card with a high limit to make purchases, there are also some credit cards for poor credit that allow you to make cash withdrawals. But, cash withdrawals have different rates and fees to purchases, so you should do some research before signing any documents.
Capital One Quicksilver Secured Reward Credit Card
The Capital One Quicksilver Secured Rewards Credit Card is a good choice if you have poor credit or are looking for a credit card that will help you rebuild your credit. While the ongoing APR on this card is relatively high, it is also easy to apply online and reports to all three credit bureaus.
Capital One Quicksilver Secured card does not require you to have a credit check. It will not affect your credit score permanently if you have low or no credit. However, this card can help you to build your credit and start earning rewards from some merchants.
Capital One Quicksilver Secured Commercial Credit Card
Capital One offers a secured credit line for those with poor credit. Capital One does not charge an annual fee and offers soft credit checks. The card's application will temporarily affect your credit score. That said, you should take advantage of the card's no-fee pre-approval process.
Capital One Quicksilver Secured Credit Rewards Credit Card Requires a Minimum Deposit of $200 By making a larger deposit, you can get a higher credit limit. After six months of timely payments, the company may automatically increase your credit limit.
Wells Fargo Business Secured Credit Card
The Wells Fargo Business Secured Credit Card is a great option for a person with poor or no credit history. You will need to deposit a non-refundable amount and it has lower APRs than average credit cards. It also reports to multiple credit bureaus. It does not offer any sign-up bonuses or other rewards.
A business secured credit card requires a refundable cash deposit that serves as the account's credit limit. Should the account holder default, the bank will keep the deposit, but will report positive activity to the credit bureaus. In certain situations, the account holder might be eligible for a regular unsecured small business credit card.
Credit One Quicksilver Secured Credit Card
Capital One offers the Quicksilver secured credit card to those with bad credit ratings. This card requires you to deposit $200 and provides a credit line of up 200 dollars. The card has the potential to return your deposit through statement credit.
You can earn 1.5% cash back on all of your purchases with this card. This rewards system is comparable to non-secured reward cards. This card has no annual fee, and you can upgrade your credit line after six months.