There are many different ways to build your credit. One of the easiest methods to build credit is by applying for a secured credit line. These cards have a lower interest rate, and are often more feature-rich. A starter credit card and student credit card are also options. These cards are a great way for you to improve your credit score and build credit.
Secured Visa (r) Credit Card from OpenSky(r).
OpenSky Secured Visa(r), which is a credit card, requires a $35 annual fee. Credit checks are not required. You will still need to deposit a security fee, which can range between $200 to $3,000. After the account is closed, the deposit is returned to your account. This reduces the risk for the lender and doesn't negatively affect your credit score.
You can choose your credit limit with the OpenSky Secured Visa(r) credit card. The amount that you pay for security deposits determines the credit limit. Your financial situation will determine which credit limit you can choose.
Capital One Platinum Secured
If you are looking to improve your credit, the Capital One Platinum Secured Visa Credit Card is a good choice. It charges a low annual cost and requires a $49-$99 security deposit depending on which option you select. The credit line on this card will also grow as you make payments and your credit score improves. The card also has helpful tools that help you keep track of your payments, credit score, and available credit limit.
Capital One does not require you to have a Social Security Number. This is particularly helpful for newcomers. Only a form of ID is required to apply. Capital One will then consider increasing your credit after six months. Capital One does not charge balance transfers fees. This means that you can transfer your balance directly to another card. Be aware that this card does NOT offer the best rewards, or the cheapest balance transfers.
Capital One Quicksilver Cash Rewards Credit Card
People who are looking to simplify financial matters will find the Capital One Quicksilver Credit Card a good option. It is free of annual fees and gives unlimited cash back. This card is great for people who use credit cards to buy many items such as airfare and dining out. You don't have to pay interest or offset expenses.
This card is best for applicants with good to exceptional credit. The rewards program includes a generous sign up bonus, unlimited 1.5% cashback, and very few redemption restrictions. Cashback can be used to purchase gift cards, cash, and statement credits. It is especially useful for those who spend a lot of money at 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. The card doesn't have an annual fee and it doesn't charge any fees for 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.
Petal 2 card comes with a tiered reward program. This means that the rewards you receive will increase in value as you use your card more often. The rewards begin at 1% cash back, but they will increase to 1.25 after six and twelve months. Earn up to 10% cash back from certain merchants. You can also redeem Petal Offers for rewards, which can earn you as high as 10% cashback on your eligible purchases.