Are there any credit cards that will give you a... - Limited/Bad/Fair Credit Questions

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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » Are there any credit cards that will give you a second chance at building credit by...

Are there any credit cards that will give you a second chance at building credit by giving you a credit card with a small limit without outrageous fees?

Answered on

These cards are secured credit cards. The bank offering these cards gives you the opportunity to build or rebuild your credit. The cards have reasonable APRs and fees. You can choose a spending limit by depositing a certain sum of money as collateral. You can deposit $200 or more. Your credit limit will be equal to your deposit, and the higher it is the higher your limit will be. You may add to the deposit to add more credit. If you pay regularly, the bank can increase your credit line without requesting additional deposits. If the bank allows, you can upgrade your secured credit card to an unsecured credit card once you have established regular payments.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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