Top 6 Credit Cards For Bad Credit in 2020

Top 6 Credit Cards For Bad Credit in 2020

January 15, 2020         Written By Natalie Rutledge

Most individuals with poor credit don’t have a lot of options when it comes to credit cards. In fact, most people with bad credit don’t even apply for a credit card for fear of being rejected. But that doesn’t have to be the case, as there are a variety of card options for individuals with less than stellar credit. And the good thing is, if you build your credit standing with these cards, you can eventually be approved for a more attractive credit card that extends a larger and less expensive line of credit.

You are not going to find strong rewards programs on these cards, and they will typically have high interest rates. The cards below are good options for individuals with poor credit or those who are starting out and want to get access to credit. You don’t have to feel shut out of the card market any longer.

Capital One® Secured Mastercard®

Capital One is one of the top credit card issuers, and they offer a very good secured card. Any new Capital One® Secured Mastercard® customer must submit a refundable security deposit of $49, $99, or $200, depending on your credit worthiness. You will then receive a credit line of $200. You will also get access to a higher credit line after making your first five monthly payments on time with no additional deposit needed. You will build credit by using this card since it reports to all three of the major credit reporting bureaus. This card does not have an annual fee, and has an interest rate of 26.99% (Variable).

First Access Visa® Credit Card

First Access Visa® Credit Card has an easy and secure online application. You will be charged a program fee but only if you are approved for the card. Once approved, you will have access to a certain credit limit, and your timely payments will be reported to all three credit bureaus. You may be able to receive your card more quickly with optional Expedited Processing (additional fee applies).

Milestone® Mastercard® – Less Than Perfect Credit Considered

The Milestone® Mastercard® – Less Than Perfect Credit Considered is a nice option for those with bad credit. You can pre-qualify for a card and it will not impact your credit. Cardholders receive fraud protection in the event of a stolen card, and have mobile access to their account at any time. Your account history is reported to the three major credit bureaus. There is an annual fee ranging from $35-$99*. The ongoing APR is 24.90%. The foreign transaction fee is 1%, less than the average for the industry.

Surge Mastercard® Credit Card

The Surge Mastercard® Credit Card is offered by Continental Finance to applicants with any credit profile, including those with a limited credit history or poor credit. This card features a fast and easy application process, with results provided online. This card is offered as a standard card, or secured version of this card, which requires you to submit a refundable security deposit before your account can be opened. The standard interest rate on the card is high and is a variable rate based on the Prime Rate so you’ll want to look at the rates and fees before applying. However, your payment due date will be at least 25 days after the close of each billing cycle. By paying the statement balance in full and on-time, interest charges will be waived. To begin using your card, you must first pay an annual fee. There is also a monthly maintenance fee associated with the card. The amount of these fees may be deducted from your available credit.

Fit Mastercard® Credit Card

The Fit Mastercard® Credit Card can help you build your credit history since it reports to the three main credit bureaus. So making your payments on time each month could help to build your credit. The card has a relatively easy application and applicants should get word on their application in a matter of minutes. Since the card is backed by the Mastercard network, cardholders should not have any trouble using the card anywhere in America. If you are approved for the card, your initial credit limit could be up to $400. But there is an annual fee on this card which is charged upon approval. This lowers your credit line during the first month of being a cardmember. In addition, there is a one-time processing fee which is assessed to your account. This processing fee is replaced in year two by a monthly maintenance fee. The card also has one of the highest APRs in the credit card industry.

Green Dot primor® Visa® Gold Secured Credit Card

The Green Dot primor® Visa® Gold Secured Credit Card is an attractive secured card with its low 9.99% fixed APR on purchases; and there is no penalty rate. Credit lines are available from $200 to $5,000, and there are no processing or application fees. There are no minimum credit score requirements with this card, and it has a fast application process. You can secure your credit line with your Personal Savings Deposit account. The Green Dot primor® Visa® Gold Secured Credit Card reports to three national credit bureaus. Unlike the other two cards, there is a $49 annual fee for this card.

Consumers with low credit scores should do everything possible to increase their score. One new tool on the market may provide some help in this area. Add your positive utility payment history to instantly increase your FICO® score. Experian Boost™ helps by giving you extra credit for the utility and mobile phone bills you’re already paying. (Results may vary; see website for details.)

For those without access to high-end credit cards, these cards are possible options. You might have to deal with security deposits and other fees that higher end credit cards may not have. In addition, most of these cards will not give you rewards programs that are offered to consumers with good credit scores. If you need access to a line of credit in order to make purchases from month to month, you should look at the listed cards and figure out which one best fits your lifestyle.

The information contained within this article was accurate as of January 15, 2020. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

Review LowCards.com Editor’s Top Cards!

2020 Top Credit Cards by Category
Featured Fair Credit Card
Reflex Mastercard® Credit Card
EDITOR RATING
Featured Fair Credit Card
Reflex Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: All credit types welcome to apply!

Featured Low Interest Card
ABOC Platinum Rewards Mastercard®
EDITOR RATING
Featured Low Interest Card
ABOC Platinum Rewards Mastercard®

Applying for this card will securely direct you to the issuer's website.

Top Features: No annual fee; $150 statement credit after spending $1,200 in first 90 days; 0% on Purchases for 12 months

Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card
EDITOR RATING
Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: Reports to all three credit bureaus, perfect credit not required for approval

Petal® Visa® Credit Card
EDITOR RATING
Petal® Visa® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: No fees whatsoever. No late fee, international fee, annual fee, or any-other-kind-of-fee, fee


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About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at natalie@lowcards.com