These are our top picks in 2020 for the best credit cards that help to rebuild your credit. Many credit card companies will only approve those with stellar credit. There is no point in wasting your time applying for these cards. The companies below assist new credit seekers and those with previous bad credit by approving them and establishing a credit account they can use to raise their credit score.
Capital One – Annual Fee $0 Purchase Rate 26.99% variable APR
Capital One® Secured Mastercard® offers no annual fee. Make the minimum required security deposit and you’ll get an initial credit line of $200. Plus, deposit more money before your account opens to get a higher credit line. You will be automatically considered for a higher credit line in as little as 6 months. Pick your own monthly due date and payment method so you are never late on a payment.
Credit One – Annual Fee: $0 – $99 Purchase Rate: 19.49% – 25.49% APR
Credit One Bank Platinum Visa Card is perfect for everyday purchases. You will get 1% cashback rewards on gas and groceries as well as your monthly mobile phone, internet, cable, and satellite TV services, review your account regularly for credit line increase opportunities to ensure you get all the credit you deserve.
Discover – No Annual Fee 22.99% Standard Variable Purchase APR applies.
Discover it® Secured is one of my favorites because of Discover’s awesome customer service. Your secured credit card requires a refundable deposit. You choose the deposit amount up to the credit line approved. At gas stations and restaurants on up to $1,000 in purchases each quarter. Plus, earn an unlimited 1% cashback on all other purchases automatically.
Indigo – $75 the first year and $99 thereafter 24.9 APR
Indigo® Mastercard® for Less than Perfect Credit has no impact on your credit score when you apply. The Indigo Platinum is a great resource for demonstrating responsible use of credit. Indigo offers a 60-second decision and you can choose your card design at no additional charge.
Open Sky – $35 Annual Fee 18.89% Variable APR
OpenSky® Secured Visa® Credit Card The OpenSky® Secured Visa®Credit Card is a secured credit card is a powerful credit-building tool. don’t check your credit when you apply. Instead of being offered a credit line based on your past credit history, you choose your credit line and secure it by making a one-time refundable deposit.