3 Best Credit Cards For Bad Credit 2021

 

Credit Cards For Bad Credit

The Best Credit Cards For Bad Credit or No Credit

whether you have bad credit or no credit at all, these cards are the best for you ( instantly approved) and with no deposit , so you can say that these are the most secured cards to build credit so let's get started

probably one of the most common questions people ask is :
 how can i get approved for a credit card if i either have bad credit or if i don't have credit at all ?
so in this article i'm gonna give you my three top credit cards that you can apply for today with a near 100 approval rating 

now the reason why i say near 100 approval rating is because like anything else there's always that 0.1 or 0.0001 that well this may not work out for you but for the most part just about anyone that i know that's either applied for these credit cards or has at least attempted to put these credit cards to use has seen an immediate boost not only in their credit score but has also seen an immediate use in other credit cards that they're able to apply for on the back end once they've been approved for the credit cards that i'm going to be sharing with you here in this artilce

 now i am going to be ranking these from credit cards that i think are from worst to least and when i say worse i don't mean that they're not going to help you maybe improve your credit score i'm taking it from the angle of well you may possibly not get approved for some of them or some of them may just have fees and annual fees that well you may not necessarily want to pay when it comes to actually taking out a secured credit card 

the first credit card that i'm going to recommend is going to be:

 the secured mastercard from capital one :

now what i like about this credit card is right here it has zero annual fee and zero foreign transaction which when you're making purchases i mean these transaction fees aren't crazy let's say 49 bucks or even 50 bucks for the whole year especially when it comes to building your credit but you know if it's zero dollars and you definitely can't beat that

 now when it comes to a deposit you will have to make a deposit of 49.99 or 200 for a spending limit of at least 200 and here's what that means so if you're not familiar with how a secured credit card works and how it varies from a regular credit card in its most simplest form it pretty much means that you are using your own money to fund the line of credit that you are looking to establish so normally the way that it works is : 

let's say you get approved for a credit card and it's a thousand dollars you that money technically is not yours that's a loan on money that doesn't belong to you 
so let's say you now owe the credit card company a thousand dollars let's say that you max it out you owe that money back to the credit card company and then some interest when it comes to a secured credit card you're funding it yourself let's say you put down two hundred dollars and then that two hundred dollars they're going to attach maybe a 25 or 26 percent interest rate on that which it really shouldn't matter how much the interest rate is because in my opinion if you have again a secured credit card and you're funding it yourself then there's no reason for you to pay more money on your money if that makes sense so whenever you get that payment let's say it's 100 bucks again make that full payment every month rather than let's say just sending a minimum because again it's kind of like you're borrowing money from yourself but then you're ending up paying more money on the back end is really the easiest way that i can put that

 now the next secured card on the list is going to be :

the discover it :

now one of the best things about this card right here is well like anything else it doesn't have any annual fees and and what makes it different from the one that we just finished breaking down the capital one is the rewards cash card holders with one to two percent cash back on purchases now i personally am not a what i would call big on 

let's say getting rewards or i'm not really looking for rewards when i'm trying to rebuild my credit or when i was in the rebuild phase because i knew that once i had my credit established i would be able to pretty much pick and choose which credit card company i would want to apply for or what or which credit card i would want to try to get my hands on if you're wondering about the deposit it is a 200 minimum deposit that's required for the discover it which again it's on the lower tier i wouldn't say that 200 is anything that's i would say out of a normal reach from most of these secured cards that you'll find in addition to that you're going to earn two percent cash back at gas stations and restaurants on up to a thousand dollars in combined purchases each quarter plus earn an unlimited per one percent cash back on all other purchases automatically one thing that i did
 also want to point out is this piece right here automatic reviews starting at eight months to see if you  can transition into an unsecured line that right there to me is going to be a big deal breaker when selecting this car let's say over the capital one which is why i put it slightly above the capital one card and that transition helps you in the long run especially when you're transitioning from a secured card to now let's say you're you went from a 420 to now maybe a 670 680 now you're starting to kind of flirt with the 700s now you're able to transition into maybe a better card with discover 

all right so now it's time to move on to the best card that's going to be:

 the open sky credit card: 

now one thing about this credit card right here is i don't think i've ever met anyone who has who hasn't applied for it including myself and hasn't gotten approved if that makes sense and the big reason for that is because it doesn't check your credit at all it goes off of what you report for the amount of income let's say on the questionnaire that they give you and i think that that's really going to be key whether you are a college student or maybe if you are in the rebuild phase because as you know even if there is a soft credit pull being done on your credit whether whether they're looking for a judgment or they're looking for a lien that can hold you back from getting approved for one of these secured cards but i don't think that's going to be the issue with open sky and this is exactly why i like open sky credit because they say right here open sky is an affordable secured card with no credit check for new applicants meaning there is no hard inquiry into your credit history when you apply remember guys that's going to be huge that's why open sky is a great choice for people with damaged credit who want to have high approval odds which was the case for me um i think that at the time of me getting approved for this card i had right around maybe 4 10 maybe 420 i was already doing some some some inquiries where i was getting some of those maybe some removals done on my credit and i was also doing quite a bit of disputing and then in addition to that tacking on this this line of credit the secured card really helped engage and boost that credit to where it's at today now if you're wondering there's a bit more of a downside here in that it's a minimum of a 200 security deposit so it's not going to be like the other cards where it was 

let's say 45 bucks 100 bucks or 99 there is going to be at least right here 200 in order for you to let's say open that card up and then of course i mean like anything else there's a little bit of downside here but i think it's definitely worth the reward that it gives you on the back end there is a 35 annual fee like 35 isn't going to kill your bank neither is a three percent foreign transaction fee especially when you know something like what happened to me can happen to you within four within month four maybe even month six you're able to see quite a bit of a boost on your credit card and then you can transition into a full line of credit afterwards and don't forget that it doesn't have to be 200 this is just the refundable deposit that you give but it has to start at 200 so let's say if you wanted it to be at 200 500 even up to a thousand bucks you can go ahead and do so or you can go ahead and go through your credit union all together but i know what those kind of works a little bit differently from what we have here so there you have it those are the three best secured credit cards in my opinion that you can use either in 2020 or in 2021 and beyond in my opinion i think that these are going to be the three best whether you are a college student you're or you're in the rebuild phase or if you just have no credit at all make sure to check those out