The best Capital One credit card for rebuilding credit is the Secured Mastercard® from Capital One because it has a $0 annual fee. The Secured Mastercard® from Capital One also reports to all 3 major credit bureaus (Experian, Equifax and TransUnion) on a monthly basis. That means it will help you rebuild your credit if you use it responsibly.
You must make a fully refundable security deposit of $49, $99 or $200, based on creditworthiness, to open an account. The deposit minimizes Capital One’s risk and makes the card easy to get. Even people with bad credit have good approval odds with the Secured Mastercard® from Capital One.
All approved applicants get a $200 starting credit limit. You can deposit additional funds to raise the limit by the same amount. You just have to do it before you activate the card. The maximum credit limit is $1,000.
That’s the only Capital One credit card for rebuilding bad credit. But if you’ve already graduated to fair credit, look into Capital One QuicksilverOne Cash Rewards Credit Card. It offers 1.5% cash back on all purchases and charges a $39 annual fee. The Capital One Platinum Credit Card is another good choice for rebuilding credit if you have a fair score. It doesn’t offer rewards but it does come with a $0 annual fee. If approved for either card, you’ll receive a $300 minimum credit limit.
The easiest unsecured card to get approved for is the Fingerhut Credit Account. But it won’t suit everyone’s needs. Fingerhut is an online marketplace, and its card can only be used to make purchases on the site. So, while it will give you an unsecured line of credit, it won’t really help you cover emergency expenses.… read full answer
If you’re looking for a card that can be used for anything, the Credit One Bank® Platinum Visa® for Rebuilding Credit is your best bet. You can get approved for it with bad credit. It offers a $300 starting spending limit. And you can use it wherever Visa is accepted.
Those aren’t your only options, though. WalletHub’s editors compared all of the unsecured credit cards in our database of 1,000+ offers. And we selected our favorite easy-to-get offers.
Easiest Unsecured Credit Cards to Get Approved For
The easiest unsecured credit cards to get generally work best for minor emergencies. You will only receive a small amount of spending power, after all.
Unsecured credit cards for people with bad credit also tend to be very expensive, charging lots of fees and high interest rates. So if you don’t need a small emergency loan, the best course of action is to improve your credit inexpensively with a secured card. Secured cards are cheaper than unsecured cards, build credit just as effectively, and offer the closest thing you’ll find to guaranteed approval.
To learn more, check out WalletHub's complete list of the year’s easiest credit cards to get approved for.
I woudn’t even try to apply for a capital one secure one card. They will take your deposit and use it against your credit with the idea if you build good credit with them that they will change it after some time to a unsecure account. Turns out that is a hoax...The card will remain secure for the life of the card no matter how well you do with your credit. I used the card for over a year now with no miss payments. Yes they raised my credit limit after 8 month from 200.00 to 500.00 with 1 of those hundreds being my deposit. When I called to graduate the card they told me they were not autherized to change it now there are any chances of graduating a secure to unsecure. that is just not possible as they mentioned i would have to apply for a new one. And they will not refund your money unless you canel the account. This is the kind of business Capital One does to people who are establishing credit. I will not apply with them for a new card simply for the fact that it will become a new account which is not good for the credit. So in my opinion if you are trying to establish credit ..and looking for secure card do yourself a favor and stay away from capital one. … read full answer
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