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Best Credit Cards for Bad Credit: Build Positive Credit With On Time Payments

The irony about building credit is that it takes having credit in order to do so. This is why you need credit cards. But if you don't have good credit then how do you get them?

Typically, the best credit cards for bad credit have low-interest rates and no annual fees. But when your credit is shaky it's going to be rare to find credit card issuers that don't charge an annual fee.

Credit Cards for Bad Credit

Get the security and convenience of a full-feature, unsecured MasterCard Credit Card; accepted at millions of merchant and ATM locations worldwide and online with the Indigo Mastercard built for people with bad credit.

Credit cards for people with bad credit like the Milestone® Mastercard® consider applicants that even have prior bankruptcies. Building or repairing your credit, especially after bankruptcy, can make it easier to open doors with lenders, landlords, and even potential employers.

The Destiny Mastercard is one of the few credit cards for bad credit with no deposit required. The Destiny Mastercard can help people with bad credit improve their credit score as long as payments are made on time and credit card balances are kept low.

No credit check is necessary to apply or even a bank account to be approved. With the OpenSky Secured Visa, you can get back on the right path no matter if you have a bankruptcy, foreclosure or car repossession.

The Chime Visa Credit Builder Card is a secured credit card with no security deposit required. You will need a Chime Checking Account and a direct deposit of at least $200 a month to qualify. But there are no fees or interest assessed. The Chime Checking Account is required so that you can move money instantly—across your Chime accounts. The money you move into Credit Builder’s secured account is the amount you can spend on the card.

How can I build my credit fast with a credit card?

To build a credit history fast you need to have at least one account open and recorded on your file for six months. Here is what you need to do for a good credit score:

Set up automatic monthly bill payments.

Late payments destroy credit scores. If a payment is more than 30 days overdue, the credit card issuer may report it to the credit bureaus. Plus, late payments come with late fees which can be up to $28. Avoid negative side effects of forgetting to pay on time with automatic monthly payments from a bank account.

Nourish your payment history.

Always pay on time, even if it's just the minimum payment. A good payment history is essential for future approvals and credit limit increases. Ideally, you should pay the full balance by the due date (to save on interest, too).

Use between 1% to 10% of your available credit limit.

Using less of your available credit limit demonstrates good credit management and helps your utilization rate. How much of your available credit you're using accounts for 30 percent of your credit score. Never max out your credit limit.

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