Credit scores are normally ranked from Poor to Excellent. According to Experian, a bad credit score is one that is below 670. This puts you in the poor or fair credit category.
| FICO Score Range | Credit Rating | Description |
| Less than 580 | Poor Credit | Well Below Average compared to other U.S. consumers |
| 580 – 669 | Fair Credit | Below Average compared to other U.S. consumers |
| 670 – 739 | Good Credit | Near or Slightly above average compared to other U.S. consumers |
| 740 – 799 | Very Good Credit | Above average compared to other U.S. consumers |
| 800 + | Exceptional | Well Above average compared to other U.S. consumers |
The following information will guide you in finding a credit card if your credit score is Poor – Fair.
Unsecured Cards
An unsecured card can be obtain without a security deposit.
Credit One Card
Credit One (not to be confused with Capital One) is a great place to obtain a credit card for those with bad credit.
They offer several credit card options for those who are rebuilding their credit. These cards often come with high annual fees but are worth it if you have no other options.
Merrick Bank Card
Merrick bank also offers credit cards for those who have had credit problems in the past. One of their cards allows you to double your credit line within the first seven months of account opening.
As of the date of this article, you can only obtain Merrick Bank’s unsecured credit cards through mail offers.
Additionally, from my personal experience, it is very difficult to obtain a credit line increase after the initial one.
Secured Cards
A secured card requires an upfront deposit which serves as the credit limit for the card. This deposit is generally refundable if the card is closed or upgraded to unsecured status.
Secured credit cards are often the easiest cards to obtain when you have bad credit.
Capital One Card
Capital One is a more well-known credit card company. They offer many options for those with poor – exceptional credit.
For those rebuilding credit, Capital One offers a Platinum Secured card. This card requires a refundable deposit of up to $200. However, if you have fair credit, you may obtain a secured Platinum Mastercard from Capital One instead.
Having a relationship with Capital One is nice because you can start off with a rebuilder card and work your way up to a better card once your credit improves.
Discover Card
Discover offers a secured credit card for those rebuilding their credit. You can obtain an instant qualification directly from their website.
The Discover Secured card also requires a refundable security deposit. However, there is no annual fee for this card.
My Personal Experience
I used each of the credit card companies above to obtain credit while improving my credit score. While these are not the most prestigious credit card companies, they offer a great opportunity for those rebuilding credit.
As long as you make timely payments, you should not have issues with these cards.
