What Instant Credit Cards Can You Get with Bad Credit?

What Instant Credit Cards Can You Get with Bad Credit?

As an English credit card expert, I understand that obtaining a credit card withbad creditcan be a daunting task. Many people with bad credit believe that they can only obtain secured credit cards, which require a deposit to be made before the card can be used. However, there are severalinstant credit cardsavailable for people with bad credit. In this article, I will discuss some of the best instant credit cards that can be obtained with bad credit.

1. Capital One Secured Mastercard

The Capital One Secured Mastercard is a great option for people with bad credit who want to obtain an instant credit card. This card requires a security deposit of $49, $99, or $200, depending on your creditworthiness. Once the deposit is made, you can use the card just like any other credit card. Additionally, Capital One reports your payment history to the three major credit bureaus, which can help improve your credit score over time.

2. Discover it Secured Credit Card

The Discover it Secured Credit Card is another great option for people with bad credit. This card requires a minimum deposit of $200 and offers cashback rewards on every purchase. Additionally, Discover will review your account after eight months to determine if you are eligible for an upgrade to an unsecured credit card.

3. OpenSky Secured Visa Credit Card

The OpenSky Secured Visa Credit Card is an instant credit card that can be obtained with bad credit. This card requires a minimum deposit of $200 and has no credit check requirements. Additionally, OpenSky reports your payment history to the three major credit bureaus, which can help improve your credit score over time.

Tips for Applying for Instant Credit Cards

When applying for instant credit cards, it is important to keep a few things in mind. First, you should only apply for cards that you are likely to be approved for. Applying for too many credit cards at once can negatively impact your credit score. Additionally, you should always make your payments on time. Late payments can result in fees and can also negatively impact your credit score.

Saving Money with Credit Cards

Credit cards can be a great way to save money if used responsibly. Many credit cards offer cashback rewards on purchases, which can add up over time. Additionally, some credit cards offer introductory 0% APR periods, which can be useful if you need to make a large purchase and want to pay it off over time without accruing interest.

Avoiding Credit Card Fees

Credit card fees can add up quickly if you are not careful. To avoid fees, you should always make your payments on time. Late payments can result in fees and can also negatively impact your credit score. Additionally, you should try to avoid cash advances, which often come with high fees and interest rates.

Recommended Credit Card Companies

When choosing a credit card company, it is important to find one that meets your needs. Some of the most popular credit card companies include Capital One, Discover, and Chase. Additionally, you may want to consider credit unions, which often offer lower interest rates and fees than traditional banks.

In conclusion, there are several instant credit cards available for people with bad credit. When applying for these cards, it is important to keep in mind the tips I have discussed, including only applying for cards you are likely to be approved for and making your payments on time. Additionally, credit cards can be a great way to save money if used responsibly, and you should always try to avoid fees by making your payments on time and avoiding cash advances.