Most of the time it is difficult to get a credit card you can get approved for when you have a bad credit score. Even when you are applying for a card and get rejected, it can further impact your credit score as each credit inquiry goes into your credit report. In the course of this article, we will be looking at the 10 best credit cards for people that have bad credit in 2023.
1. Petal 1 ”No Annual Fee” Visa Credit Card
If you have a credit score that is less than perfect, then this card is best for you. With the aid of Petal 1 “No Annual Fee” Visa Credit card, you can slowly build your credit profile till it becomes strong and reputable.
If you cannot make an upfront security deposit, then this card is worth trying. It has a lot of good perks, such as having no annual fee, 2-10% cashback, and no requirements for deposits. The biggest downside of this credit card is that there is no balance transfer option available for users.
2. Navy FCU nRewards Secured Credit Card
This is a secure card that has no option for annual fees. If you qualify and are eligible for the Navy Credit Union, and still have bad credit, this card is for you. One interesting perk of this card is that they offer extra protection for your cell phones.
There are no cash advance fees, no balance transfer fees and you can earn 1X points per dollar spent with the credit card. One major downside is that you have to be related to a military member to use this credit card that is best for persons with bad credit scores.
3. Tom Credit Card
This is an interesting credit card for bad credit. It can be used by persons that do not want any interest charges. To use credit with Tom’s Credit card, it is important to note that no one would run a credit check or credit history on you.
The credit limit of this card is $10,000, there are no annual fees accrued, and a non-United States citizen can apply for this credit card. The major downside of this card is that you have to be preapproved before getting an actual Tom Credit Card application.
4. OpenSky Secured Visa Credit Card
This card is the first credit card on our list that offers an annual fee of $35. It has a regular APR of 17.39%. With the OpenSky card, there is no credit check and no bank account required.
Imagine being able to enjoy a low APR for a “bad credit” card. For the past five years, they have had an 85% approval rate, which allows you to improve your bad credit score.
5. Discover It Secured Credit Card
The Discover It Secured Credit card does not have an annual fee, it has a regular APR of 22.99% and is best for persons that want to rebuild their bad credit. If you use the Discover It Secured Credit card to make transactions, you will get a 1% cashback rate on all purchases.
Also, It offers a 2% cashback for purchases that are made in gas stations and restaurants at a spending threshold of $1,000. Also worth noting is that with Discover It Secured Credit card, you will get a free monthly FICO score access each month.
6. Credit One Bank Platinum Visa For Rebuilding Credit
If your credit score is from 0-649, you can use a Credit One credit card to rebuild it. They charge an annual fee of $75 for the first year, land afterward, $99. The user of this card is not responsible for unauthorized charges, as there is $0 fraud liability. For added convenience, you can use the option for choosing your monthly payment due date.
7. Bank of America Customized Cash Rewards Secured Credit Card
This bank of America card is also available for people who have a bad credit score between (0-649). It is a secure card that does not charge any annual fee. The Regular APR of the Bank of America customized cash rewards secure credit card is 23.99%.
One interesting perk of the bank of America credit card is that you can get FICO Score reports at no cost with it. Also worth noting is that while trying to rebuild your bad credit, they offer rewards.
8. Chime Credit Builder Visa Credit Card
The Chime credit is another interesting credit card that allows United States citizens with bad credit to rebuild their credit score. It has no annual fee, and your poor credit score needs to be from 300 to 689. They offer no minimum deposit requirement, charge no annual fee, and no interest rate fees.
9. Capital One QuickSilver Secured Cash Rewards Credit Card
If you have poor credit, Capital one has a combo of features that can help you to rebuild it. They require a deposit, but in exchange, you get a zero-dollar annual fee card that reports to all three credit bureaus. To be able to use the Capital One QuickSilver Secured Cash rewards credit card, you need to have a credit score between 300 and 629.
10. Capital One Platinum Secured Credit Card
With this credit card from Capital one, a security deposit is required. While conventional credit cards require that you put down a deposit that is equal to your credit line, the Capital One platinum Secured Credit Card allows you to get a $200 credit line with a deposit of $49 or $99.