Best Credit Cards For Bad Credit 2020

Do you have bad credit? Here are the best offers designed to help you rebuild your credit and improve your score. Make sure you pay on time and keep a low balance (against your credit limit) and it can improve your credit report every month. New to Credit Cards? Consult the offers of our partners for students or those without credit. Looking for more credit card options? Best Credit Cards For Bad Credit 2020

We believe that the best credit cards for bad credit are secured cards. With these cards, you provide a security deposit, which protects the issuer in the event of non-payment. (When you close or upgrade the account, you can get your deposit back.) Depositing reduces risk, making secure cards one of the easiest cards to get. Approval isn’t guaranteed though – you still have to prove you have income, and bankruptcies or other serious issues on your credit report can get you turned down.

First Progress Platinum Prestige Mastercard® Secure Credit Card – Best Bad Credit Credit Cards 2020

Here’s First Progress’s lowest APR secure card, but it charges a steep annual fee of $ 49. A low APR is a valuable feature of an unsecured card, but it doesn’t make sense to keep a balance on a secure card; you pay interest to the bank on your own money. It is a better idea to use a secured card with a lower annual fee to build your credit.

  • Benefits
    No minimum credit score or history required
    Monthly reports to the 3 major credit bureaus
    Low APR
  • The inconvenients
    $ 49 annual fee
    3% foreign transaction fees
    No rewards program
  • ORDINARY APR
    9.99% (variable)
  • ANNUAL RATE
    $ 49
  • WELCOME BONUS
    Nothing
  • CREDIT SCORE
    Bad credit

OpenSky® Secured Visa® Credit Card

OpenSky offers a solid path to rebuilding credit with no credit check or bank account required and a minimum security deposit of $ 200.

Benefits
No credit check
Minimum security deposit of $ 200 to open an account
No bank account required
The inconvenients
3% foreign transaction fees
$ 25 credit limit change fee after the first year
$ 35 annual fee

ORDINARY APR
18.89% (variable)
ANNUAL RATE
$ 35
WELCOME BONUS
Nothing
CREDIT SCORE
No credit check

Indigo® Platinum Mastercard®

Indigo’s path to rebuilding credit comes with some of the highest fees and APRs, but doesn’t require a security deposit.

Benefits
Pre-qualify without hurting your credit score
Reports to the three major credit bureaus
Foreign transaction fees reduced by 1%
The inconvenients
Maximum credit limit of $ 300, less fees
High annual fee
Regular high APR

ORDINARY APR

24.90% (fixed)

ANNUAL RATE

$ 0 to $ 99

WELCOME BONUS

Nothing

CREDIT SCORE

Fair credit

Milestone® Gold Mastercard® – Best Credit Cards for Bad Credit 2020

If your credit is low, you may still be eligible for the Milestone® Gold Mastercard®. However, given the high annual fees and low credit limit, this is not such a great deal. If you can offer a security deposit, there are secure cards available with annual fees of $ 0 to $ 29 and the same ability to help rebuild credit.

Benefits
No credit impact when applying for pre-approval
Payments reported to the three major credit bureaus
1% foreign transaction fees
The inconvenients
Account opening fee of $ 25 # Over-limit fee of $ 39
$ 300 credit limit only
An APR penalty of 29.9% may be applied in the event of late payment

ORDINARY APR

24.90% (fixed)

ANNUAL RATE

$ 35 to $ 99

WELCOME BONUS

Nothing

CREDIT SCORE

Bad / poor

Credit One Bank® Unsecured Visa® For Credit Rebuilding – Best Credit Cards For Bad Credit 2020

This card is a good option only for those who do not have enough funds available to pay a security deposit, or who need a small emergency loan. To rebuild credit, it is cheaper and easier to get a secure card.

Benefits
No administration fees
No monthly fees
Path to a higher credit limit with a good payment history
Experian ScoreX Free Credit Score
The inconvenients
8% high cash advance fee for some cardholders
$ 19 annual fee per authorized user
Annual fees range from $ 0 to $ 99

ORDINARY APR

19.49% to 25.49% Variable

ANNUAL RATE

$ 0 – $ 99

WELCOME BONUS
Nothing
CREDIT SCORE
Bad credit

Credit One Bank® NASCAR® Credit Card – Best Bad Credit Credit Cards 2020

If your credit is low or limited, this is one of the few unsecured cards available to you. The cash back rewards are a plus, but with such a low monthly spend, that won’t amount to much. Considering the low credit limit and potentially high annual fees, a secure card with a low annual fee might be a better option.

Benefits
1% cash back on qualifying purchases
Double Cash Back at NASCAR.com
Possibility to choose the due date of the monthly payment
The inconvenients
High APR
High annual fees for those with poor credit
3% foreign transaction fee (min $ 1)
Very high cash advance fees

ORDINARY APR

19.49% to 25.49% Variable

ANNUAL RATE

$ 0 – $ 99

WELCOME BONUS
Nothing
CREDIT SCORE
Good / Excellent

Capital One® Secured Mastercard® – Best Credit Cards For Bad Credit 2020

With its flexible security deposit requirement and the ability to extend the line of credit beyond the initial deposit, the Capital One® Secured Mastercard® is a rare offer.

Benefits
Qualify with limited or bad credit
No foreign transaction fees
No annual fee
Security deposit of $ 49, $ 99 or $ 200
The inconvenients
High APR
Not available for borrowers with seriously damaged credit
No rewards program

ORDINARY APR

26.99% (variable)

ANNUAL RATE

$ 0

WELCOME BONUS

Nothing

CREDIT SCORE

Limited, Bad

Discover it® Secured – Best Credit Cards for Bad Credit 2020

In the world of secure credit, the Discover it® Secured card stands out from the competition. With an unlimited 1% cash back rate on all purchases, plus a 2% bonus category, no penalty APRs, and no annual fees, we love this card for those who need to rebuild their credit. The corresponding cash back at the end of your first year is a nice bonus.

Benefits
No foreign transaction fees
No APR penalty
Get unlimited 1% cash back on all your purchases
Earn double cash back for the first year
The inconvenients
Quarterly spending limit of $ 1,000 on the 2% bonus category
Relatively low maximum line of credit
The security deposit does not earn interest

ORDINARY APR

24.49% variable

ANNUAL RATE

$ 0

WELCOME BONUS
Unlimited Year One Cash Back Match
CREDIT SCORE
Credit New / Reconstruction

Visa® First Access credit card

It’s hard to imagine cramming more fees onto a single credit card than what we see with the First Access Visa® credit card. Certainly, even those with poor credit may qualify. But given the sky-high fees and sky-high APR, it would make more sense to spend that money on depositing a secure card with a low annual fee or $ 0.

Benefits
Monthly service fees waived in the first year
Those with poor credit may be eligible
Easy online application

The inconvenients
Extremely high APR
One-time start-up fees and monthly fees
Mandatory checking account

ORDINARY APR

See conditions *

ANNUAL RATE

See conditions *

WELCOME BONUS

Nothing

CREDIT SCORE

Fair / bad credit

Platinum Green Dot Visa

A purely secure credit card, the Green Dot Platinum Visa card is an easy way to replenish your credit. Although it comes with an annual fee of $ 39, the lack of a monthly fee makes this card cheaper overall than some other secure cards.

Benefits
No monthly fees
No credit check or bank account required
Flexible security deposit (min $ 200)
Reports to the 3 credit bureaus

The inconvenients
3% foreign transaction fees
Has an annual fee
No way to win an unsecured card
Fees for in-person payments

ORDINARY APR

Variable APR of 19.99% on purchases

ANNUAL RATE

$ 39

WELCOME BONUS

Nothing

CREDIT SCORE

Bad / poor

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