10 Credit Cards: New to Credit or Bad Credit!
1. Bad Credit/limited credit
Easy to qualify for:
Open sky credit cards ( secured)
– You can have a bankruptcy and still get accepted because they don’t check your score
– You do require a refundable deposit of $200
– And an annual fee of $35 bucks
Indigo® Mastercard® for Less than Perfect Credit
– This one requires no deposit
– But it does have an annual fee 0-$99 ( call in and see if they can potentially wave it
– Do not expect a massive credit limit ( maybe $300-700)
Surge Mastercard® Credit Card
– No deposit but a $75-$99 dollar fee
– Inicial line of credit between $300-$750
– And they also give you a free credit score
Harder to actually get ( limited credit)
First progress platinum prestige
– They require a minimum deposit of $200
– Have an annual fee of $49 dollars
– And its for people with limited history
Reflex MasterCard credit card
– No deposit NEEDED
– But an annual fee $75-99
– And also for limited history not really bad credit
Extra: you also have self credit-builder account, that would be a lot cheaper than these cards and can help you build credit also
Tip: if you have bad credit and you want to fix it, usually it requires some fees because of the extra risk and some patients to get your score back in order. I would personally get the open sky credit card and self credit-builder account, and work both of those.
2. New to Credit
Easy to qualify for
Capital one secured ( no annual fees)
– Requires a minimum $49 bucks
– And I got this one for my mom and she didn’t even have any credit
– Just make sure to call if they reject you and tell then you have the income to support the card
Capital One® Platinum Credit Card ( limited history and new to credit)
– This does not require a deposit
– And it does not have an annual fee either
– Most people get the secured card first and then get this one a few months later
Harder to qualify for
Discover Credit card secured
– A lot of people get denied because this is the first card
– This a card you want to apply after you have some history
– It’s one of the best ones because it also gives you cashback 1%-2%
Petal card
– One of my favorites but a little harder to get accepted to
– They give 1% cashback and usually increase your line after 3-6 months
Tip: Although these credit cards great, remember your goal is to build your credit, not pay them a bunch of money in interest. So make sure to have your credit cards on auto-pay each month for the entire balance
3. Building but have a decent score and decent income
Hardest to qualify for ( but with a decent income, it’s possible)
– X1 smart credit card: its not even out yet, but its a cool credit card, that is going to consider your income a lot.
– Apple credit card: (the road to the apple card) – hard to get, but if you get rejected, they tell you the steps you need to take to qualify.
4. Overall:
– Once you’ve done this and you’ve built your credit
– 0i would pick 3 of my favorites and stick with them
– But some bills on them, and have them pay themselves, and just use a debit card, that way you maintain and grow your credit without going into debt.
An article that’s great: https://wallethub.com/credit-cards/bad-credit/
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
