Life happens and sometimes a poor credit score is beyond your control. Getting a mortgage, car loan, and sometimes even finding a job can all be negatively affected by a low credit score, but this doesn’t mean you can’t get a credit card.
Unsecured credit cards are a perfect option for individuals who are in need of short-term funds but do not want to put down several thousands of dollars that traditional secured credit cards require. There are a number of companies that specialize in providing unsecured credit cards to “subprime” individuals, so they can slowly rebuild their credit scores. Here are the top 4 providers of unsecured credit cards, so you can make the best decision to rebuild your credit.
Genesis offers several different credit card options for those interested in rebuilding their credit. Genesis reports to all three major credit bureaus so as long as you pay off your balance on time, you can expect that credit score to shoot up while using their cards. Although Genesis cards tend to have lower spending limits than others, the credit reporting benefits are a great plus. The Milestone MasterCard, from Genesis, is an excellent option for those with poor credit scores. The card offers all the normal fraud and theft protection, along with mobile account access. Annual fees are less than $100 with a 23.9% APR.
Applicants with poor and bad credit are still considered making the Milestone card a great solution for people interested in rebuilding their scores. Another option from Genesis is the Indigo MasterCard. Applicants can pre-qualify for this card without damaging their credit scores, and like other Genesis cards, all credit histories are considered. The Indigo MasterCard provides excellent fraud and theft protection like all Genesis cards. This card also reports to all the major credit agencies which will help users improve their credit standing. The free mobile account access makes checking your account simple and convenient.
Credit One Bank
The Credit One Bank is a well-known credit card issuer and is famous for being the only “subprime” provider that also provides cash back bonuses. The approval process is slightly more detailed than Genesis, so individuals with extremely bad credit scores may have a hard time qualifying. For those with poor credit, this card is an excellent option with cash back features. The Credit One Bank Visa card provides a 1% cash back bonus from their unsecured, no deposit card. The card is known for credit line increases, although sometimes a fee may apply.
Applicants can pre-qualify for the card within 60 seconds online and even choose their own monthly payment due date. Users can also monitor their credit scores online for free. Credit One Bank also gives applicants a different choice with their Unsecured Platinum Visa card. This card automatically monitors your spending and will increase credit lines as soon as you’re qualified. Pre-qualification is easy and takes less than a minute. Credit One’s Platinum Visa card comes with 1% cash back and does not require loans or deposits to use. The card guarantees $0 fraud liability and will send you email and text alerts regarding billing due dates, posted payments, and up to the minute credit limits.
Total Visa Card
Aside from the popular issuers above, lesser known banks such as Total provide unsecured credit card options. The Total Visa Card does require applicants to have an open checking account with the bank, in return, the application process is fast and easy. Users will receive a genuine Visa card that is accepted by all merchants nationwide. This card also reports to all three major credit bureaus making it a solid choice for those interested in bumping up their credit scores.
The last from our lesser known bank list is the Surge MasterCard. Surge is a smaller provider than the big issuers but also reports to all three credit bureaus. Their unsecured credit card starts at a $500 limit but is done through a quick and easy application process. MasterCard is widely accepted worldwide and the account at Surge allows for 24/7 free online access. Surge does require that applicants open a checking account with their bank, but caters to individuals with low or bad credit.