Best Unsecured Credit Cards for poor credit?

If you’re looking for the best Unsecured Credit Cards for poor credit , you’ve come to the right place. In this article, we’ll discuss some of the best options available to you in 2022.

We’ll also talk about how to improve your credit score and what to look for when choosing a credit card. So whether you’re just starting out with your credit or you need a new option for rebuilding your credit score, read on for our top recommendations!

But before we dive in, let’s understand some terms about unsecured credit cards for people with bad credit.

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What is an unsecured credit card and why would you want one if you have poor credit history

Credit cards are one of the most popular types of debt in the US. According to a recent study, the average American household has over $16,000 in credit card debt.

That’s a lot of debt to carry around, and it can be tough to keep up with the monthly payments. interest rates on credit cards can be as high as 20%, which means that your debt can quickly spiral out of control.

If you’re having trouble making your payments, you may be considering an unsecured credit card.

An unsecured credit card is a type of credit card that doesn’t require a security deposit. That means that if you default on your payments, the credit card issuer can’t take your home or car as collateral. Unsecured credit cards are best for people with good to excellent credit scores.

If you have Poor credit or Bad Credit, you may still be able to get an unsecured credit card, but you’ll likely have to pay a higher interest rate. That’s why it’s important to shop around and compare offers before you apply for an unsecured credit card.

There are several reasons why you might want an unsecured credit card, even if you have bad credit. Here are list of a few reasons:

You can use it to rebuild your credit score. If you make all of your payments on time and keep your balance low, you can gradually improve your credit score. Eventually, you may be able to qualify for a better credit card with a lower interest rate.

An unsecured credit card can help you build a credit history if you don’t have one. If you’ve never had a credit card before, it can be tough to get approved for one. But if you have a steady income and can prove that you’re responsible with credit, you may be able to get an unsecured credit card.

You can use an unsecured credit card anywhere that accepts credit cards. Unlike a secured credit card, an unsecured credit card can be used anywhere that accepts credit cards. That means you can use it for online shopping, reservations, and more.

You may be able to get a higher credit limit. With a secured credit card, your credit limit is typically equal to your security deposit. But with an unsecured credit card, your credit limit may be higher. That can give you more flexibility when it comes to making purchases.

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What Is The Difference Between Unsecured Credit And Secured Credit Cards?

There are two main types of credit cards: unsecured and secured. An unsecured credit card is not backed by any asset, which means that if you default on your payments, the issuer can’t seize your property.

This makes unsecured credit cards a higher risk for issuers, which is why they typically have lower credit limits and higher interest rates than secured cards. A secured credit card is backed by a deposit that you make when you open the account.

The deposit acts as collateral in case you default on your payments, so issuers are willing to offer higher credit limits and lower interest rates. Secured cards are a good option for people who are just starting out with credit or who have poor credit histories.

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Now that we’ve answered the question, “what is an unsecured credit card?,” let’s take a look at some of the best-unsecured credit cards for Bad Credit.

#1. Indigo Platinum Mastercard

There are a lot of credit cards out there that claim to be the best unsecured credit card for people with bad credit.

However, not all of them are created equal. The Indigo Platinum Mastercard is one of the best unsecured credit cards for people with bad credit for a few reasons.

First, there is no security deposit required. Second, you can pre-qualify without impacting your credit score. And third, the card comes with a lot of great features, including $0 liability on unauthorized charges, 1% foreign transaction fee, and more credit for your everyday needs.

The only downside is that the card has high fees, including a high APR. But if you’re looking for an unsecured credit card with no deposit and great features, the Indigo Platinum Mastercard is a good option.

Here are the features of the Indigo Platinum Mastercard:

• No security deposit required
• Pre-qualification with no credit score impact
• $0 liability on unauthorized charges
• 1% foreign transaction fee
• Access to a higher credit line after making your first 5 monthly payments on time.

The Indigo Platinum Mastercard is a great unsecured credit card for people with bad credit who are looking for a card with no deposit and great features.

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#2. Surge Mastercard Credit Card

Surge Mastercard is one of the best unsecured credit cards out there for people with poor credit. Why? For starters, it has a pre-qualification process that doesn’t impact your credit score.

So if you’re not sure you’ll be approved, you can check without worrying about a ding to your score.

Additionally, all credit types are welcome to apply, and if you make your first six monthly minimum payments on time, your credit limit will double from $1,000 up to $2,000.

You’ll also get free access to your Vantage 3.0 score from Experian and monthly reporting to the three major credit bureaus. Plus, the application process is fast and easy, often resulting in seconds, and you can use your card anywhere Mastercard is accepted.

Finally, Mastercard Zero Fraud Liability Protection comes standard (subject to Mastercard guidelines), so you don’t have to worry about fraudulent charges taking a toll on your finances or credit score.

All things considered, Surge Mastercard is a great option for those with poor credit who are looking for an unsecured credit card.

Here are the features of the Surge Mastercard Credit Card:

• Pre-qualification process that doesn’t impact your credit score
• All credit types are welcome to apply
• If you make your first six monthly minimum payments on time, your credit limit will double from $1,000 up to $2,000
• Free access to your Vantage 3.0 score from Experian
• Monthly reporting to the three major credit bureaus
• Application process is fast and easy
• Use your card anywhere Mastercard is accepted
• Mastercard Zero Fraud Liability Protection comes standard

Read More: Credit Cards for People with a 500 Credit Score: What Options are Available?

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#3. Revvi Card

If you’re looking for the best unsecured credit cards for poor credit, the Revvi Card is a great option.

While there is a one-time fee of $89, there is no annual fee for the first year and only $48 after that. You’ll also earn 1% cash back rewards on all payments made to your Revvi Credit Card. ‘

Additionally, the Revvi Card comes with a $300 credit limit and reports to all three major credit bureaus. Plus, the application process is fast and easy with a response provided in seconds.

However, please note that balance transfers are not allowed with this card. Overall, the Revvi Card is a great option for those with poor credit who are looking for an unsecured credit card.

Here are the features of the Revvi Card:

• $89 one-time fee
• $75 annual fee for the first year and only $48 after that
• 1% cash back rewards on all payments made to your Revvi Credit Card
• $300 credit limit
• Reports to all three major credit bureaus
• Application process is fast and easy
• Balance transfers are not allowed with this card

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#4. Applied Bank Unsecured Classic Visa Card

If you’re looking for the best unsecured credit card for poor credit, the Applied Bank Unsecured Credit Card is a great option. You can qualify with bad credit, and there is no security deposit required.

However, there are some fees to be aware of. There is a one-time fee of $89, and annual fees of $75 for the first year and $45 after that. There is also a monthly fee of $0 for the first year and $6.25 after that.

Despite these fees, the Applied Bank Unsecured Credit Card offers some great benefits. There is no penalty rate, so your interest rate won’t go up even if you’re late with a payment.

Plus, you can get pre-qualified in less than a minute. So if you’re looking for an unsecured credit card with bad credit, the Applied Bank Unsecured Credit Card is a great option.

Here are the features of the Applied Bank Unsecured Classic Visa Card:

• No credit check necessary and no security deposit required
• One-time fee of $89
• Annual fees of $75 for the first year and $45 after that
• Monthly fee of $0 for the first year and $6.25 after that
• No penalty rate, so your interest rate won’t go up even if you’re late with a payment
• Pre-qualified in less than a minute

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#5. Reflex Mastercard

If you have bad credit, it can be difficult to find a credit card that meets your needs. However, there are a few options out there that are designed for people with poor credit. One of these is the Reflex Mastercard.

This card offers several features that make it a good choice for people with bad credit.

First, it is pre-qualified with no impact to your credit score. Second, it reports to the three major credit bureaus. This means that using the card responsibly can help you improve your credit score over time. Third, the card comes with Zero Fraud Liability Protection.

This means that you will not be responsible for any unauthorized charges made on your account.

Finally, the card has a high credit limit of up to $1,000 which can be doubled to $2,000 after you make your first 6 monthly payments on time. While the Reflex Mastercard does have a high annual fee and APR, these are typical for cards designed for people with bad credit.

Overall, the Reflex Mastercard is one of the best unsecured credit cards for people with bad credit in 2022.

Here are the features of the Reflex Mastercard:

• Pre-qualified with no impact to your credit score
• Reports to the three major credit bureaus
• Zero Fraud Liability Protection
• High credit limit of up to $1,000 which can be doubled to $2,000 after you make your first 6 monthly payments on time
• High annual fee and APR

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#6. FIT Mastercard

Fit Mastercard is one of the best unsecured credit cards for people with poor credit. It offers an initial credit limit of $400 and a $400 credit limit doubling to $800 after you make your first 6 monthly minimum payments on time.

There is no security deposit required. You can also qualify with limited or no credit history.

TheFit Mastercard does not have any rewards or intro APR on purchases, but it does report to all three major credit bureaus monthly. It’s a great choice for people who want to rebuild their credit score.

The only downside is that there are some one-time fees associated with this card. There is also a monthly fee of $0 for the first year and $6.25 after that.

Overall, the Fit Mastercard is a great choice for people with poor credit who are looking to rebuild their credit score.

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#7. Merrick Bank Double Your Line Mastercard

The Merrick Bank Double Your Line Mastercard is a great option for people with bad credit. The best part about this card is that it offers a2x line increase after you make your first 7 monthly payments on time. This can be a great way to help rebuild your credit.

Additionally, there is no security deposit required and you can get your FICO® Credit Score for free each month.

Things to watch out for when applying for an unsecured credit card

When you’re ready to start building your credit history, or if you’re looking to transfer a balance from a high-interest card, an unsecured credit card can be a great option. But there are a few things you’ll want to keep in mind before you apply.

First, make sure you understand the terms and conditions of the card. What is the APR? What are the fees? What is the grace period? If you don’t pay your balance in full every month, you’ll be charged interest, so it’s important to know how much that will cost you.

Second, what is the credit limit? This is the maximum amount you can charge on the card, and if you exceed it you may be subject to fees. Third, what is the rewards program? Some cards offer cash back or points for every purchase, which can be redeemed for travel, merchandise, or gift cards. Others offer no rewards at all.

And finally, make sure you understand any annual or monthly fees associated with the card.

With all of these factors in mind, you’ll be able to choose the best unsecured credit card for your needs. Just remember to use it wisely and pay your balance in full each month to avoid interest charges.

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How to rebuild your credit rating using an unsecured credit card

If you’re trying to rebuild your credit rating, one of the best ways to do it is by using an unsecured credit card. An unsecured credit card is a regular credit card that is not backed by any collateral, so it can be a great way to demonstrate your financial responsibility.

One of the best things you can do is make sure that you make your payments on time each month. This will show creditors that you’re serious about rebuilding your credit and that you’re capable of making payments on time.

Another great way to rebuild your credit rating is by using your credit card wisely. Try to keep your balances low and only use your card for necessary purchases.

This will show creditors that you’re able to control your spending and that you’re only using credit when you need it. By following these simple tips, you can start to rebuild your credit rating and get back on track financially.

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Concluding thoughts

If you have bad credit, an unsecured credit card can be a great way to help rebuild your credit score. Just make sure to choose the right card for your needs and use it wisely.

By making your payments on time and keeping your balances low, you can start to improve your credit rating. And as your credit rating improves, you’ll be able to qualify for better credit products with more favorable terms and rates.

So don’t give up on your credit goals – an unsecured credit card can be a great tool to help you achieve them.

Share this post with your friends and family to help them find the best credit card for their needs.

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