Looking For A Second Chance Credit Card With No Security Deposit? Check This Out!
Second chance credit cards are for people who have made mistakes with money in the past. However, even though you have a bad credit score, you should be able to get approval for one. Even with a bad credit score, you can get a large sum for personal loan. Check out OneMain Financial Reviews to know more. But you need to know that there are different second chance credit cards for different purposes. In this post, we will discuss some second chance credit card with no security deposit.
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Second Chance Credit Card With No Security Deposit!
If you thinking about building your credit history or want to borrow some money with bad credit score, you can either apply for an unsecured credit card or a secured one. However, unsecured credit card is expensive and only provides you about $200 in available credit. Hence, a secured credit card may seem the cheapest and best possible option. If you want to improve your credit score, then you should know How To Raise Credit Score By 200 Points?
There are some other options available, though.
Becoming An Authorized User Of Someone Else’s Card
It’s time to visit your relative or friend who pays off their credit card bills every month. Persuade them to make you an authorized user on their card. To be an authorized user, no credit check is needed to be performed.
With an additional unused credit card, your credit score will improve faster. But don’t be too tempted and misuse that card!
Capital One Platinum MasterCard
The card is offered by Capital One without any deposit. Though the approval requirement might seem a little tricky, it’s quite easy if you have a score of 520 or higher.
The biggest advantage with this card is that after paying for 5 months on time, you gain access to a higher credit line. And a higher credit line is quite beneficial for your credit report.
CreditOne Bank Platinum Visa Card
The Platinum Visa Card offers higher limits with easy norms to rebuild credit. It requires no deposit and the applicants can get approved for credit lines as high as $1,500 and as low as $300. Moreover, it has flexible payment dates for effective credit rebuilding.
Though the card has a lot of spending and repayment benefits, it also has an annual fee. The approval process is stricter and missing your payments could result in additional interest.
Total Visa Credit Card
Total Visa Credit Card is an unsecured card and you can get one even if you have a bad score. The approval process is easy if you have a steady income.
But this card does have an APR of 29% instead of a deposit. If you are a person with a bad credit score, you know that APR is too high. The initial limit on the card allows a max of $300 to be approved. If you are looking for short-term loans, then you should definitely check out the LendUp Reviews.
Indigo Platinum Mastercard
This Platinum MasterCard is specifically designed for those poor credit scorers who wish to rebuild their credit history by reporting to all the credit bureaus. If you have a credit score of around 500, you can get an easy approval.
The card comes with a nominal interest rate of 23.9% and no annual fee for the first year.
So, there are enough options available to you. Do a proper research and choose wisely. If you are student, you can take up a students loan too. However, you need to know different types of Student Loans before.