One of the best credit cards for a 550 credit score is the OpenSky® Secured Visa® Credit Card. There’s no credit check when you apply, so approval is almost guaranteed. You just need $200 for a refundable security deposit and enough income to make monthly payments. This card also reports to all three major credit bureaus… read full answer (Equifax, Experian and TransUnion) every month, which is your ticket to a better credit score. And a $35 annual fee isn’t too much to pay for that.
However, those aren’t the only credit cards you can get with a 550 credit score. In fact, there are two kinds of credit cards for people at that credit level: secured credit cards and unsecured credit cards for bad credit. A 550 credit score is within the bad credit range, unfortunately. Bad credit goes from 300 to 639. But picking the right 550 credit score credit card and using it responsibly could help you improve your score to “fair” territory within 12-18 months.
Before applying for a card, though, make sure to check out its terms and conditions, or a FAQ page if there is one, just to make sure you fit the criteria for eligibility. You can also try getting pre-approved for a credit card. It won’t hurt your credit, and it will give you a good idea of your odds if you decide to apply.
There are no tire credit cards for bad credit, as the tire store credit cards that are available require at least fair credit for approval. So, your best bet is a secured credit card with rewards, since it will be attainable with bad credit and help you save money on your tire purchase. As a result, the best tire-purchase credit card for bad credit is the Capital One Quicksilver Secured Cash Rewards Credit Card because it gives 1.5 - 5% cash back on purchases. The Capital One Quicksilver Secured Cash Rewards Credit Card also has a $0 annual fee.… read full answer
The Discount Tire Credit Card is issued by Synchrony Bank, which in turn pulls the credit reports of new applicants from TransUnion. If the TransUnion credit report is frozen, they use Experian instead.
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