Are you looking for financing while having a low credit score? Well, worry no more since the article offers a comprehensive review of the best credit cards to get with low creditworthiness. There are many options to access financing, including utilizing credit from someone else's account and bridging financing from institutions offering secured loans. If all these methods fail to work, there exists the option of taking secured cards, which are best for individuals with stellar credit histories. Most of these cards usually ask for a deposit of three hundred dollars, which will be your credit limit. Moreover, the advantages of these cards are that they guarantee payment of your monthly bills on time and act as avenues to better your credit score.
It is crucial to understand that you can upscale to unsecured cards once you attain a fair or best credit score. Below are some of the best cards for bad credit.
Destiny® Mastercard®
The Pros
- You are eligible for the application of the card regardless of your credit score.
- The card uses high technology to provide maximum security against fraud.
- Access to your account is 24/7
The Cons
- High APR rates of up to 24.90%
Milestone® Gold Mastercard®
The Pros
- You can request a tailored card free of charge.
- You get free access to your account through online banking.
- The card can be used at over 30 million destinations worldwide.
The Con
- No rewards such as introductory bonus
Indigo® Platinum Mastercard®
The Pros
- Fast response during application
- Protection from fraud is guaranteed upon misplacing your card.
- You can access financing regardless of having a precious liquidation record.
The con
- Expensive for people with less than great credit scores.
Assent Platinum 0% Intro Rate Mastercard® Secured Credit Card
The Pros
- For the first six months, you enjoy 0% on all purchases.
- The first deposit used to secure the card is fully refundable.
- Access to your account is 24/7.
The Con
- Provides regular reports to major credit agencies to ascertain credit history.
- Card not applicable in states such as New York and Arkansas.
Fit Mastercard® Credit Card
The Pros
- The application process is easy and fast.
- Allows all credit types to apply.
- The card can be used in all areas; a Mastercard® is acceptable.
The Con
- High fees charged on the card for monthly, annual, processing, and late payments.
Capital One® Secured Mastercard®
The Pros
- The card does not have an annual fee,
- Deposits are fully refundable.
- Increment of credit limit after timely remittance for the first six months.
The Cons
- High APR of up to 26.9%
- The cards do not have reward programs.
Conclusion
Clearly, the above-stated insights on different cards show one can still acquire financial assistance. As you contemplate and embark on getting these cards, ensure that you keenly go through the terms and conditions and the pros and cons. Moreover, endeavor to do your due diligence on the cards to ascertain the one which best suits you.
