About 173 million people in the United States above the age of 18 carry credit cards. The most common credit cards are unsecured. These cards do not require you to pay a deposit when opening an account.
Finding the best-unsecured credit cards will help you have a brighter financial future, fix mistakes with your credit in the past, and improve your credit score.
The best credit cards for bad credit are those that report to all credit bureaus, offer pre-qualification checks, and have low upfront fees.
Using unsecured credit cards requires you to monitor your account regularly, keep low credit card balances, and make monthly payments on time.
You should choose one unsecured credit card and be prepared to use it responsibly to build your credit score over time.
Below are the top 3 best-unsecured credit cards.
1. Capital One Platinum Credit Card
This is an unsecured credit card for those with limited, fair, or average credit. Cardholders do not need to place a security deposit. You’re allowed accessibility to a high credit line once you’re punctual with paying the first five monthly installments.
The card doesn’t charge an annual fee. Some benefits offered include extended warranty coverage and fraud coverage.
The credit card has a CreditWise application, which allows you unlimited access to your credit score in TransUnion VantageScore 3.0.
The CreditWise application is free to all individuals even those without the Capital One Platinum Credit Card.
Other benefits that the cardholders enjoy include travel accident and auto rental insurance.
However, cardholders are not offered rewards on purchases. Also, new cardholders are not given zero introductory APR incentives on balance transfers or purchases. You can access your account using the mobile or your smartphone through online banking.
You can also pay through a local branch, online, or by check with no charges and pick your preferred due date. Additionally, you’re allowed to access your account any day of the week. By using your card responsibly, you will strengthen your credit in case you need to use it in the future.
Any suspicious activity on your capital one platinum credit card is detected thus increasing account security. Items bought using the credit card have price protection.
2. Credit One Bank Platinum Visa That Offers Rewards on Cash Backs
This credit card helps you improve and build your credit. Once your application is approved, you get a credit limit ranging from $300 and $500.
The card charges an annual fee of between $0 and $99, depending on the agreement of the specific card member. The APR variable is 20.24 – 26.24%.
The credit card allows you to get a cashback of 1 percent on the eligible products that you buy. Your cash back rewards are added automatically to your account balance each month.
Also, the credit one bank platinum visa comes with cash back rewards that allow your credit limit to increase over time. Credit card increases rely on the credit score, income of the cardholder, and history of payment.
The credit card charges $35 as a returned fee and $35 for late payment. Cardholders are given 24/7 travel and roadside assistance. They also have access to zero-liability protection and purchase protection.
Additionally, cardholders are free to choose their preferred due date and have extended warranty coverage. You can track your credit score online with no charges. You’re also offered a waiver on collision damage of your rental car.
Cardholders have the freedom to choose the card design they want from the multiple ones available. It’s easy to manage your bank account using the mobile app provided. The credit card allows the cardholders to help preserve the environment since you have a choice to go paperless.
The card provides customizable email and text alerts thus you get all the account updates easily. Also, you are not responsible for charges that are unauthorized since there’s $0 fraud liability.
3. Capital One Quicksilver one Credit Card For Cash Rewards
This unsecured credit card earns a cashback of 1.5 percent on each purchase. Some of the benefits that the cardholders are accessible to include price protection, roadside assistance, travel assistance services, auto rental insurance, and extended coverage on warranty. Others are insurance on travel accident and price protection.
The card provides an annual fee of $39. The average APR for cash advances, balance transfers, and purchases is 26.96 percent, which is variable. The capital one quicksilver one card, unlike other cash rewards credit cards, doesn’t offer a sign-up bonus.
You don’t have to sign up for rotating categories in order to earn cash rewards. The CreditWise app allows the cardholder to monitor the profile of their credit for free. If your card is stolen or lost, you have $0 fraud liability.
When you use your card responsibly, you enhance your future credit status. There’s no expiration date for the cash back. The card allows you to get any amount of cash back with zero limits.
Capital one quicksilver one cash rewards credit card provides customized alerts through emails and texts to the cardholders. Thus, you are able to manage your account efficiently. No penalty APR is charged to the cardholders.
Know the Best Three Unsecured Credit Cards and Make Your Choice
The characteristics that make the most significant effect on your credit are the additional charges, annual fee, and APR. These features can make a credit card costly regardless of how responsibly you use it.
Unsecured credit cards that offer fair credit have higher APRs compared to those used traditionally by cardholders with good credit scores. You should opt for a card with a low rate to reduce the significant interest rates. Some additional charges include fees for credit limit increases, account verification fees, and monthly maintenance charges.
Unsecured credit cards may be risky thus the need to choose the best ones. These unsecured credit cards are those with the least additional charges an annual fee. They help you to secure your credit score and save money.
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