Getting a credit card for bad credit history can be an excellent way to start rebuilding your credit. There are several things to consider when choosing a card, including rewards and fees.
What kind of credit card can I get with a 530 credit score?
Some of the thimbl. – credit card for bad credit history are secured cards. These cards report to all three major credit bureaus and usually have low fees and no annual fees. They are also easy to get approved for with bad credit history.
The best secured cards have rewards on purchases. Some even offer 1% cash back or more. These rewards may be capped, however.
If you don’t need a rewards card, you can choose an unsecured card. Unsecured cards are usually higher in APR than secured cards. This can make it difficult to maintain a low credit utilization ratio.
If you’re thinking about filing for bankruptcy, consider how it will affect your credit. It can stay on your report for seven to ten years. It may be hard to get a mortgage, car insurance, or utilities. If you can get the creditor to remove the poor mark, it can help rebuild your credit.
Credit One Bank offers a Platinum Visa for Rebuilding Credit. The first year, the card comes with a $75 fee, but the second year, the fee is only $99. If you’re not using the card, you can cancel it and get your money back.
Credit One Bank offers the Platinum Visa for Rebuilding Credit with 1% cash back on eligible monthly services. This card is regularly reviewed for credit line increases.