Poor credit is a problem that many people in the United States have. It is a condition in which a person’s overall credit score is lower than 600 points on the FICO scale. People with this type of credit usually have a severely difficult time getting the financial products that they desire. However, some lenders are out there who can help. The following are five options for people who have bad credit:
Credit One Credit Card
The Credit One Credit card is a nice unsecured option for people with very bad credit. It is a Visa card that provides the user with all the functionality that other credit cards have. This card is also a part of the cash back rewards group of cards. Cardholders can earn 1 percent cash back on some of the items that they buy such as fuel and grocery items. The annul fee on the Credit One card varies. It can be as low as $0 or as high as $99 per year. Consumers gave it some amazing reviews because of the many benefits that it offers to people who are trying to get back on track.
First Premier Credit Cards
Fist Premier is honest when it comes to reporting to the credit bureaus, but the card is not for everyone. The applicant does have to pay a fee, so the consumer may want to opt for a more favorable arrangement. Other options that do not have a processing fee may be best for the struggling consumer. The First Premier card is a micro-chipped MasterCard that has some amazing benefits to it.
Fingerhut provides credit accounts to people who would like to shop with them online. Approval for a Fingerhut card is generally easy to get. The consumer can buy a number of goods from Fingerhut and then build his or her credit by making timely payments. Web Bank is the name of the company that handles the approvals.
Total Visa Card
Total Visa card is an unsecured option, but it does have a price. The card requires the applicant to pay a processing fee before he or she can obtain approval. The individual must also have a checking account to qualify. The company does report the timely payments to the credit bureaus, however.
Open Sky Credit Card
The Open Sky credit card is a secured card from Capital Bank. It is a good card because it reports your timely payments to the credit bureaus every time you make those timely payments. The initial credit line is between $200-$300. You send a deposit for that amount, and then you receive a credit line that matches. The interest rate is reasonable, and there is no annual fee to worry about with this specific card.
The poor credit community has many options from which they can choose to seek the cards that they desire for the things that they like. Online applications are available, and the decision making process is often quick and painless.