Is your credit in the dumps? We get it, we’ve been there! Bad credit is no fun and it can make you feel even broker (yeah, that’s a word), than what you already are. If you’ve got bad credit, but you need a card, we found some of the best credit cards for bad credit!
Keep in mind that just because we love these cards doesn’t mean you’ll get approved for them! Each card is different and you must meet certain requirements with your credit score to get approved. Most credit card inquiries will result in a hard pull on your credit!
1. Capital One is one of the favorite credit cards for bad credit.
Customers love Capital One cards because there are so many different options including credit cards for bad credit. The Capital One Platinum card is great for those who are in the process of rebuilding credit while the Capital One secured card is great for those who are just starting out on their credit-building or rebuilding journey.
The secured card requires a minimum $49 deposit, but Capital One guarantees a switch to unsecured in one year under certain conditions. If you’re approved for the Platinum card, you can increase your credit limit with just six months of one-time payments!
2. The Indigo Card comes with special interest rates.
The Indigo card is for people who have fair to average credit scores. The card works for those who may not be able to get approved for traditional credit cards but who also don’t have the required deposit for a secured card. The annual fee varies based on your credit, but some people have reported it to be up to $99. Indigo, unlike other cards, does not have an opportunity for you to raise your credit limit. They offer one credit limit for all of their customers: $300. While this card can be really beneficial for rebuilding your credit, you might want to stop using it once you’re at a better point in your credit journey!
3. Credit One offers cash back!
Similar to the Indigo card, Credit One offers a chance for those with less than perfect credit a chance to start rebuilding with a small credit limit. Their $75 annual fee may be a little steep for most of their credit limits, but it remains lower than some fees on other cards. Credit One offers a cash back program for those who qualify. You can do a pre-qualification check that does not do a hard pull on your credit before applying. While it may not be as easy as some big-name cards to get a credit limit increase, Credit One does offer them.
4. Discover It gives you a popular name card.
Even though Discover offers credit cards for excellent credit, they do have some options available for people who are trying to rebuild their credit. You can use their pre-qualification to find out if you’re approved for the Discover It card which may be easier for those who are rebuilding.
If you do not pre-qualify for any of their unsecured card options, they do offer a secured option that requires only a $200 deposit to get started. With any Discover card, you could get credit limit increases, cash back and a free credit score. In fact, you can get a free credit score from Discover even if you’re not a customer!
5. The Build Card is an exclusive subprime card.
Even though you must get a pre-approval in the mail from Build, this credit card could help you start rebuilding your credit right away. The card reports to all three bureaus which is a huge bonus for those who want to bulk up their credit report! If you haven’t opted out for prescreened offers and you meet all their requirements, this is one of the most popular credit cards for bad credit. The card has low interest rates and a relatively small annual fee. Many people report they get a higher starting limit with this card than they do with many others!
6. The Milestone Gold could get you a higher limit!
While the Milestone Gold card might be harder to get approved for than some of the other cards on this list, you can get a higher starting credit limit on it. The company offers a pre-qualification for credit cards for bad credit. If you are not approved for the Milestone Gold card, you might be directed to a secured card option that could help you!
7. USAA cards work for military members and vets!
Are you a military member or a veteran? You could get qualified for a USAA card! This card is easier to qualify for than some of the other options since it caters specifically to military members and their families. You’ll also get the peace of mind knowing that the interest rate is lower than most. While you do have to pay an annual fee, you can earn that back with rewards.
8. Total Visa is one of the top credit cards for bad credit.
The Total Visa is one of the credit cards that requires you to pay a processing fee and an annual fee before you even start using the card. The annual fee is as much as $75. It comes right off of your credit limit (which many people report is only $300). You must also pay the processing fee that is $79 or more depending on your credit. You cannot use your credit card to pay for this and it must come from a bank. After you’ve done all of this, the company will then send your credit card. Many users do not think it’s worth it to only have $146 or so in credit as a result of the high processing fee and the annual fee.
This is one of the credit cards for bad credit that you should only use in an emergency situation. If you absolutely need $100, you could use the card. Keep in mind that it could be up to two weeks before the card even comes in the mail.
9. The Green Dot Secured helps you build credit.
Even though secured cards can be a burden, they are helpful if you’re trying to build your credit up. Many people choose these credit cards for bad credit because it gives them a starting point. Green Dot bank offers variable interest rates and a low yearly fee. They do not offer cash back. After one year of good payments, you can apply for the card to be transferred to an unsecured card. Limits range from $200 to $5,000.
Another thing customers love about the Green Dot Secured card is that you can add to your credit limit. If you have extra money, you can put that directly onto your card raising your credit limit. This is great for those who want to give their card regular increases!
10. The Wells Fargo Secured card offers added convenience.
Wells Fargo banking customers could get credit cards for bad credit. While the Wells Fargo credit cards are not so easy to get approved for, the secured card is easy! If you have a Wells Fargo savings account, you can use that account to work as the security deposit on your card. After a few months, Wells Fargo may raise your limit automatically. They may even transfer your card to an unsecured version by releasing your deposit back into savings!