Top 20 Credit Cards For Bad Credit
| Credit cards are becoming extremely important for any financial transaction. Without a credit card, it is no longer possible to rent a car, buy an apartment or book a hotel room. However, many people fail to recognize the utility of credit cards and fall into the trap of bad credit.
With these types of customers constantly increasing, credit card companies have now come up with certain unique categories of credit cards that help these bad credit customers in rebuilding their credit.
Credit cards for bad credit customers can be broadly divided into three categories including prepaid, secure and unsecured. Prepaid credit cards are in many ways similar to debit cards. Here, the customer is required to pay a specified amount into his account. A credit card is then issued to the customer and credit limit will be equivalent to the deposited amount. Secure credit cards are similar to prepaid credit cards. Unsecured credit cards are similar to regular credit cards but carry higher interest rates and other additional charges.
Listed below are a few good credit cards for bad credit customers
Unsecured Credit Cards
- Orchard Bank Platinum Card -- No upfront fees, 24 hours account access, purchase protection benefit, and reports sent to all 3 major credit bureaus.
- First Premier Bank Gold Master Card -- Low APR, easier approval, 24 hour account access by phone, and monthly reports to 4 major credit bureaus.
- First Premier Classic Card -- Low APR on purchases, benefit of 24 hour account access, monthly reports to all credit bureaus.
- Centennial Gold MasterCard from First Premier Bank -- Low APR, easier approval, 24 hour account access by phone, and monthly reports to 4 major credit bureaus
- Continental Finance MasterCard -- Credit reports to all major credit bureaus, flexible payment modes, online account management, free standard bill pay service and periodical credit limit increase reviews.
- Orchard Bank Platinum Visa Card -- Visa auto bill pay service, flexible payment option, 100 percent fraud liability protection and exact fees dependent upon credit worthiness.
- Orchard Bank $500 Line MasterCard --The initial credit limit is only $500 on this card. Other benefits include automatic credit reviews to increase the credit line, flexible payment options according to lifestyle and free standard online bill pay.
- Orchard Bank Classic MasterCard -- Credit reports to all major credit bureaus, flexible payment modes, online account management, free standard bill pay and periodical credit limit increase reviews.
Secured Credit Cards
- Orchard Bank Secured MasterCard
- New Millenium Bank Secured Platinum Visa or MasterCard
- UltraVX Visa
Prepaid Credit Cards
- All-Access Visa Prepaid Card
- All-Access Prepaid MasterCard
- Baby Phat Prepaid Visa RushCard
- Vision Premier Visa Prepaid card
- Eufora Prepaid MasterCard
- Western Union Prepaid MasterCard
- AccountNow Vantage Prepaid MasterCard
- Capital One Platinum Card for Students
- Bank of America Student Platinum Plus Visa Credit Card
Benefits on prepaid and secured cards are all similar and they include monthly reporting to credit bureaus, guaranteed approval, frequent flier rewards, no upfront payment, no minimum balance, free savings account, free instant transfers, add-on cards and global customer assistance.