A secured credit is the best way to build your credit. You must make a deposit before you can make any monthly payments. It would be ideal to pay the entire balance each month. After you close your account, all deposits are refundable. You can keep your card open for several years before having to start paying back the balance.
Capital One Platinum Secured Kreditkarte
If you have had problems making your payments, the Capital One Platinum Secured credit card is a great way start your credit history. You can start with a low deposit of $49 or $99, or even up to $200. Capital One will let you pay the deposit in installments and send your card to you once the payment is made. You can expect a $1,000 credit limit, so it's worth checking out.
Capital One Platinum Secured cards have a $200 credit limit at the beginning. This limit can be increased by adding $800 to your initial deposit. After six months, you can also apply for a higher credit line by increasing your initial deposit. You can actually get a credit line increase of up $1,000 in just six months. This is a great way for you to improve your credit score and build credit. It is important to pay your bills on time.
Get it Secured
If you are looking to build credit, the Discover it Secured card is a great choice. This card comes with no annual fee and no minimum balance. It will help you rebuild credit and earn rewards. Students will find it especially helpful as there is no annual charge and you can transfer your balance into an unsecured Discover Card after seven months. Once you are responsible with your card, it is possible to upgrade to a more secure card that doesn't require a security deposit.
Discover it Secured creditcard also offers $0 annual fees, zero foreign transaction fees, as well as no late payment fees. Although the card might charge late fees, you can avoid them by making your payments on-time. International purchases will not incur a fee. Balance transfer fees are only three percent of the total balance transfer amount for the first six months, and they increase to five percent after this period. These fees are a reasonable option for building credit.
Citi Secured Mastercard
While there are many great secured credit cards, the Citi Secured MasterCard stands out as a top choice. This credit card has a low minimum security deposit of $200 to $2,500. It will allow you to build credit history and practice responsible financial management. You can use the card for up to one year, then upgrade to a higher limit when you are ready.
Citi Secured Mastercard offers a zero-dollar annual fee. This is unusual among secured credit cards which often have high annual fees but offer few benefits or perks. Unsecured credit building cards can also have eye-popping annual charges and increase in price after the first one year. Although this card has a low annual cost, you will still be charged a significant amount once you start using it.