Apr 29, 2012

Six Best Credit Cards For Bad Credit

Credit is important in our life, such as loans, apply for reward credit cards and so on, the good news is that you probably are not haunted by an array of unpaid debt.and use credit card to building credit is the best and fast way . There are 8 best secured and unsecured credit cards to building you credit.


1. Capital One Secured MasterCard
The Capital Secured Master Card is specially designed for people who have poor credits and look for opportunities to improve and rebuild their credit. The APR rate and other fees are higher and the reward it provides is limited compared to other cashback credit cards. But it absolutely is better than prepaid cards which require you to pay a full amount for the same credit limit.
The annual fee on this secured credit card is a reasonable $29, and while most secured credut cards require security deposits of around $250, you can deposit as little as $49 and still get a credit line of $200. If you deposit more -- like $99 or $200 -- you can increase your credit line up to $3,000.
No balance transfer fee. CapitalOne is among the few banks who do not charge any money for balance transfer, which can cost a lot. However, it is unneccesary to transfer the balance from other cards since you do not want so many balances on a card from which you get barely nothing in return.

2.Orchard Bank Secured MasterCard
Orchard Bank Secured MasterCard is the one of the best secured credit cards you can get.Not only the low internet rate noly 7.9%, but also unlimited credit line.it¡¯s equal to whatever amount you deposit .
No annual fee for the first year, then $35 is required for each year. The $35 annual fee is very reasonable considering the fact that other Orchard cards charge you from $35 to $74(a bottom line) per year while the major previlege they offer is pretty much the same.

3.Navy Federal 'n Rewards Secured Card
he Navy Federal Credit Union nRewards Secured Card is probably one of the best secured credit cards you can find. It comes with generous rewards which can only be found on unsecured credit cards.
With an APR as low as 8.99% and no annual fee.
Earn 0.5% to a full 1% cash back for purchases depending on how much you spend. You get one point for every dollar you spent with this card. For example, if you spend $1000, you will get 5 points(0.5%) in return. When your spending reaches a high $7500, the cash back you can earn is as much as $75(1%). The cash back is redeemable for giftcards and certificates on your account. Points expire after 4 years and there is no limit on how many ponits you can earn.

4.Citi Secured MasterCard
The Citi Secured MasterCard offers a relatively low annual fee but charges a higher interest rate than most secured cards.Annual fee:$29.
There is, however, an 18.24% APR. So if you plan to carry a balance, choose another card with a lower APR.
"Normally I'd never recommend a card with an interest rate that high, but if someone is applying it to just rebuild credit and never carrying an account balance, you can invest your money in a CD so you're getting something back," said Beverly Harzog, bank card expert at Credit.com.
In addition, while you could be stuck with other secured cards for years, Citi will consider graduating you to a better, unsecured card after 18 months.

5.Mango Prepaid MasterCard
The Mango Money MasterCard have low fee and can get high yield on your savings The fee schedule is clearly spelled out in nice big print. The sole negative will be the not enough a bill payment feature, which means you can't use it to change a bank account. pre-pay credit cards are simply packed with your own personal money. You never pay interest on these cards, but they also don't report to credit reporting agencies.

6.Capital One Cash Rewards for Newcomers Card
This card is for people who are new to the U.S.. and have an annual fee and lets you earn rewardsbut anyone trying to build their credit can apply and be approved for the card.you can make 2% money back on all travel-related purchases, including airlines, hotels, trains and car rentals, and 1% everywhere else.
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