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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » I am looking for low interest, no annual fee, and a small credit line (about $500) to ...

I am looking for low interest, no annual fee, and a small credit line (about $500) to work on building my credit back up.

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Leo Zhu

Consider secured credit cards. These cards offer low credit limits (from $200 and up), and they send reports to major credit bureaus to help you rebuild your credit. However, it will be hard to find a card which has both low interest rates and no annual fee. Perhaps you should focus on getting a card that offers one or the other. The interest rates are competitive among secured cards, but if you pay your balance in full every month, you will not have to pay any interest.

The thing you should pay your closest attention to is the annual fee. You won’t find a credit card with no annual fee if you have bad credit. Also, remember that these are secured credit cards, which means that you will have to pay a security deposit equal to your credit line.

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