Credit cards for people with a 630 or higher credit score can be obtained in a variety forms. There are three options available: an unsecured credit line, a store credit line, and a business credit card. When choosing the right credit card, it is important to consider your credit score.
Unsecured credit cards
You can apply for unsecured cards with a high credit limit if your credit score exceeds 630. These cards offer better rewards programs and lower interest rates. Many unsecured credit cards have introductory offers that offer cash back, bonus points, or miles. Additionally, you may be able to purchase items without paying interest for up to a period of 0 percent APR. Unsecured credit cards are a great option if you don't require an introductory period.
While many unsecured credit cards require a security deposit, the best ones for 630 credit scores aren't capped at that level. Unsecured credit cards do not require a security deposit like secured credit cards. They can only take $200. They are a good option for people with low credit scores.
Store cards
People with a credit score below 630 have several credit options. Surge Mastercard is one example. It helps consumers rebuild their credit by reporting on time payments to credit bureaus. Continental Finance issues this card. It offers credit lines of $300-$1000. After six months of responsible use, it can increase to $2,000 for a limited time. The card comes with a $99 or $200 refundable security deposit.
Another option is to apply for the Credit One Bank Visa for Rebuilding Credit. This credit card offers a rewards policy, whereby you can earn 1% cashback on qualifying purchases. The application process is straightforward and will not require you to run your credit report.
Secured credit cards
Secured credit card are a good option for those with lower credit scores. These cards don't require an annual fee. Cash advances and balance transfers are subject to fees. An additional $40 fee can be charged for late payments or refunds. Secured credit cards are a great choice for anyone who wants to begin building their credit history, or rebuild their credit rating.
Secured cards are more transparent than prepaid debit cards and report your activities directly to the major credit agencies. This helps you build your credit history and higher score. Many secured card issuers offer the option to pay your account in regular installments. This allows people with poor credit scores to get a credit card.
Credit cards for businesses
If you're looking to improve your business credit score, you may want to consider applying for a business credit card. These cards help you to build your credit history and obtain the best possible rates for business loans. A card with rewards can help you separate your personal and business expenses. The drawback to business credit cards is the higher fees and interest rates that are charged than personal cards. Keep in mind, however, that business credit cards can have a negative impact on your credit score.
It is vital to review all terms and conditions before you apply for a business credit line. Many companies will only approve applicants who have excellent credit. Therefore, it's vital to know the minimum credit score required before applying.
Cash back credit cards
If you are looking for a creditcard with cash back rewards but have a score of 630, there are options that have a lower APR as well as a higher credit limit. You can also apply for a secured credit card, such as the Surge Mastercard, which will report your on-time payments to the credit bureaus. After six months of responsible use, you can get up to $2,000 credit. You will also get a free credit score analysis in your monthly electronic statement.
Another option for cash back credit cards for a low credit score is the Discover it card. You can get 2% cashback at gas stations and restaurants, as well as a zero percent annual charge. It can also be used for purchases at Uber and Amazon, where you'll earn 1% cash back.