apply for credit card with bad credit online

Best for Rewards: Discover it(r), Secured Credit Card

Here’s the reason: You get rewards for every purchase that you make after you apply for this credit card with bad credit

The Discover it(r Secured Credit Card) offers 2% cash back at gas stations and restaurants for purchases up to $1,000 each quarter. After that, 1% will be applied once the quarterly limit has been met. You’ll also get 1% back for all purchases. The Cashback Match feature at Discover will match any cash back earned during the first year of cardholders.

The card requires a $200 security deposit. Discover will refund the deposit if the card is used for less than eight months.

There is a $0 annual charge and foreign transaction fees. However, Discover is not accepted everywhere, so it is a good idea for a backup payment method in case you need it.

Ideal for college students

Here’s the reason: The Deserve(r), EDU Mastercard does not require a credit history or a Social Security number if you are an international student.

You’ll receive a year of Amazon Prime Student for every $500 you spend in your first three billing cycles. Plus, you will get 1% cashback on all purchases. You’ll also get $600 coverage for your phone if it is stolen or damaged if you pay your cellphone bill using the card.

All this is included with a $0 annual cost. It also doesn’t charge a foreign transaction fee making it an excellent choice for students who plan to travel abroad or return home from overseas.

College students looking for credit cards should read to learn more about the Deserve(r), EDU Mastercard.

Prequalification is best with Credit One Bank (r) Platinum Visa(r) for Rebuilding Credit.

Here are some reasons: The Credit One Bank(r), Platinum Visa(r), for Rebuilding Credit might be the right fit for you if you want an unsecured card but are unsure if you can qualify.

Credit One Bank’s website makes it easy for you to check if you are prequalified. The prequalification process does not affect your credit. You could avoid an unnecessary ding from a Hard inquiry on credit scores by knowing whether you are prequalified before you apply.

The card comes with regular credit limit reviews that could help build credit by decreasing the amount you use if you are eligible for a higher credit line and keeping your spending constant.

You’ll also earn 1% cash back rewards on eligible purchases. This is applied automatically as a statement credit.

Be aware that the annual fee for this card is $75 for the first year and $99 after that.

For those with limited credit, the Platinum Mastercard (r) by Capital One(r).

Here’s the reason: The Gold Mastercard(r) from Capital One(r) can help you build a favorable credit record. All this with an annual $0 fee.

There are no sign-up bonuses or rewards programs, so the card isn’t full of frills. If building credit is your priority, you may be able to look forward later to more rewarding rewards.

After six months, the card will offer you the possibility of a higher credit limit. A higher credit limit is good for building credit. It can also help your credit utilization (your credit limit divided by your balance). The better the utilization rate is, the more advantageous it is.

There is no foreign transaction fee. It’s also a Mastercard, so you shouldn’t have trouble finding merchants who accept it abroad.

Read our editorial review to decide if the Platinum Mastercard(r) from Capital One(r) is suitable for you.

Best for those with no credit: Petal(r), 2 Visa(r), Credit Card

Here’s why: The PETAL(r) 2 Visa (r) Credit Card eliminates credit Catch-22: You need a credit record to be approved for credit, but you cannot establish credit without credit.

The card issuer will consider your financial responsibility if you have never used credit before. This makes it an excellent first credit card.

The Petal(r), 2 Visa(r), and Credit Card allow you to connect your bank accounts to see how much you earn and how you spend it. You will be approved if the issuer considers you a good match based on your financial management.

Once you are approved, you may be eligible for credit limits of $500-10,000. The card comes with no fees.

You can access your account via the Petal(r), 2 Visa(r), and Credit Card apps. It also displays how much interest you will pay on purchases if your balance is not paid in full each month. This app can help you manage your finances and even build your credit.

You can earn cash back rewards while working on your credit score with the Petal(r), and 2 Visa(r). Credit Card. You can get 1% cashback on all purchases from the moment your account is opened. After 12 timely payments, you could also earn as much as 1.5% cashback.

To learn more, read the editorial review of Petal(r), 2 Visa(r), and Credit Card.

These cards: How did we pick them?

While many credit cards are easier to approve, some charge prohibitive fees and limit the amount you can use them. We focused our efforts on credit cards to help you build your credit without draining your bank account.

We focused on cards that have low annual fees or none, reward you with no restrictions, and allow you to build your credit history.

How to get the most out of credit cards that are easier to approve

Although these credit cards are easy to obtain, they should not be kept for too long. You can use your card to build your credit history once you have it. To avoid interest, make sure you pay your bills on time each month.

To maintain a high credit utilization rate, you should keep your balance low. This can be done by not using your card as often as possible or making multiple monthly payments.

An unsecured card can be applied for if you have good credit and high credit scores.

Tags

security deposit required

restaurants on up to 1,000

gas stations and restaurants

Latest posts by Jason Rathman (see all)

Photo of author

Author D Laidler

I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go.  I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.

Thank you for visiting businessfinancenews.com

Leave a Comment

Business Finance

About Us

Business Finance News is a brand oriented to business owners and dedicated to analyzing and comparing the cost and conditions of B2B procurement of goods and services through free quotes delivered by business partners.

Contact

Address 5050 Quorum Drive, (75254) Dallas TX

telephone 844-368-6072

DISCLAIMER

A personal loan is a medium term loan with a fixed interest rate that is repaid in equal monthly payments and it's usually limited to 24 months. Loan offers and eligibility depend on your individual credit profile. Our lenders can help you obtain as much as $3,000 depending on the lender, your state and your financial situation.

The owner and operator of businessfinancenews.com is not a lender and is not involved into making credit decisions associated with lending or making loan offers. Instead, the website is designed only for a matching service, which enables the users contact with the lenders and third parties. The website does not charge any fees for its service, nor does it oblige any user to initiate contact with any of the lenders or third parties or accept any loan product or service offered by the lenders. All the data concerning personal loan products and the industry is presented on the website for information purposes only.

Businessfinancenews.com does not endorse any particular lender, nor does it represent or is responsible for the actions or inactions of the lenders. Businessfinancenews.com does not collect, store or has access to the information regarding the fees and charges associated with the contacting lenders and/or any loan products. Online personal loans are not available in all the states. Not all the lenders in the network can provide the loans up to $3,000. Businessfinancenews.com cannot guarantee that the user of the website will be approved by any lender or for any loan product, will be matched with a lender, or if matched, will receive a personal loan offer on the terms requested in the online form. The lenders may need to perform credit check via one or more credit bureaus, including but not limited to major credit bureaus in order to determine credit reliability and the scopes of credit products to offer. The lenders in the network may need to perform additional verifications, including but not limited to social security number, driver license number, national ID or other identification documents. The terms and scopes of loan products vary from lender to lender and can depend on numerous factors, including but not limited to the state of residence and credit standing of the applicant, as well as the terms determined by each lender individually. 

APR REPRESENTATIVE

APR (Annual Percentage Rate) is the loan rate calculated for the annual term. Since businessfinancenews.com is not a lender and has no information regarding the terms and other details of personal loan products offered by lenders individually, businessfinancenews.com cannot provide the exact APR charged for any loan product offered by the lenders. The APRs greatly vary from lender to lender, state to state and depend on numerous factors, including but not limited to the credit standing of an applicant. Additional charges associated with the loan offer, including but not limited to origination fees, late payment, non-payment charges and penalties, as well as non-financial actions, such as late payment reporting and debt collection actions, may be applied by the lenders. These financial and non-financial actions have nothing to do with businessfinancenews.com, and businessfinancenews.com has no information regaining whatsoever actions may be taken by the lenders. All the financial and non-financial charges and actions are to be disclosed in any particular loan agreement in a clear and transparent manner. The APR is calculated as the annual charge and is not a financial charge for a personal loan product. 

Late Payment Implications

It is highly recommended to contact the lender if late payment is expected or considered possible. In this case, late payment fees and charges may be implied. Federal and state regulations are determined for the cases of late payment and may vary from case to case. All the details concerning the procedures and costs associated with late payment are disclosed in loan agreement and should be reviewed prior to signing any related document. 

Non-payment Implications

Financial and non-financial penalties may be implied in cases of non-payment or missed payment. Fees and other financial charges for late payment are to be disclosed in loan agreement. Additional actions related to non-payment, such as renewals, may be implied upon given consent. The terms of renewal are to be disclosed in each loan agreement individually. Additional charges and fees associated with renewal may be applied. 

Debt collection practices and other related procedures may be performed. All the actions related to these practices are adjusted to Fair Debt Collection Practices Act regulations and other applicable federal and state laws in order to protect consumers from unfair lending and negative borrowing experience. The majority of lenders do not refer to outside collection agencies and attempt to collect the debt via in-house means. 

Non-payment and late payment may have negative impact on the borrowers’ credit standing and downgrade their credit scores, as the lenders may report delinquency to credit bureaus, including but not limited to Equifax, Transunion, and Experian. In this case the results of non-payment and late payment may be recorded and remain in credit reports for the determined amount of time.