What is the best prepaid business credit card?

There are several ways to raise your credit score in 30 days. Reducing your credit utilization is one of the fastest ways to raise your credit score, and you can do it by paying down debt, spending less, paying your bill more often or asking for a higher spending limit. Disputing negative information on your credit report can help quickly, too. The bottom line is that your credit score can change anytime new information is added to your credit report or old information is removed from it. Creditors typically report updated information about loans and lines of credit at least once a month, so making the right moves for 30 days can definitely produce results for your credit score.… read full answer

But you must understand that true credit building is a multi-year process. You’ll still need to manage your money responsibly moving forward for your credit-score gains to last. And that’s one reason why you should never, ever pay for credit repair. Nonprofit credit counselors can be very helpful, but services that make wild promises and charge fees, especially up front, are best avoided.

Now, with that being said, let’s get back to the business of boosting your credit score by next month. Below, you will find a collection of tips that should help anyone improve their credit score quickly. You can also get personalized advice for how to proceed by checking out your free credit analysis on WalletHub.

7 Ways to Raise Your Credit Score in 30 Days:

1. Dispute Credit-Report Mistakes. Removing negative information from your credit report is perhaps the best way to generate substantial short-term credit-score improvement. But you can remove such information only if it’s wrong or the result of fraud. So go over your report with a fine-tooth comb, cross-referencing each item with your own financial records. If you find something fishy, investigate it further and, if necessary, file a dispute with the credit bureau.
2. Make a Big Debt Payment. How much you owe, especially compared to your income, has a big impact on your credit score because it tells lenders how risky it would be to let you borrow more. A credit score measures your risk to lenders, after all. So the more debt you pay off, the more your score should improve.
3. Reduce Your Credit Card Statement Balance. Credit utilization is calculated by dividing your credit cards’ balances at the end of each billing period by their spending limits. So if you reduce the balance listed on your monthly statement, you also reduce your utilization, which in turn improves your credit score. You can reduce your statement balances by spending less, making larger payments, or paying your bill more frequently. For example, paying a credit card’s bill twice per month – once before your statement is generated and again before the due date – allows you to lower your credit utilization and avoid interest.
4. Become an Authorized User. If a family member has excellent credit, ask him or her to add you as an authorized user on an existing credit card (preferably an old one with a high credit limit and no negative records). This might take too long to process to benefit you in a month’s time. But it should provide a bump pretty quickly.
5. Dispute Negative Authorized-User Records. Not many people know this, but if you are or were an authorized user on an account that is dragging down your credit score, you can ask the credit bureau to remove it from your credit report. Authorized users are not responsible for paying the bill, which means they don’t have to suffer the consequences of not doing so. You just have to file a dispute.
6. Ask for a Higher Credit Limit. More available credit will reduce your overall credit utilization ratio, a key component of your credit score. Be careful, though. Many credit-card issuers will re-check your credit history — causing a hard inquiry and short-term credit-score damage — before approving a higher limit. So make sure to ask about your creditor’s policies first. You should also make sure all your credit limits are expressed accurately on your credit reports. If a listed limit is lower than it should be, ask the issuer to report an updated figure to the credit bureaus. Take note, however, that if you have an “NPSL” credit card, there might not be much you can do about an unusually reported credit limit.
7. Write a Goodwill Letter. If your credit report bears only a minor blemish — one late payment, perhaps — and the rest of your credit history is solid, you can try asking the issuer for a favor. For example, you could call and make a case for why your slip-up should be forgiven and stricken from the record, so to speak. Or you could send an official “Goodwill Adjustment Letter,” which formalizes the request. This tactic is most successful before a negative record actually makes its way to your credit report. But it’s worth a shot afterward as well.

You can keep track of your credit score’s latest developments by signing up for a free WalletHub account. WalletHub is the first and only website to offer free credit scores and full credit reports that are updated on a daily basis. Additional information about increasing your credit score can be found in our comprehensive Credit Improvement Guide.

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® Visa® Credit Card 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

• Fingerhut Credit Account: Easiest Overall
• Credit One Bank® Visa® Credit Card: With Rewards
• Capital One® Spark® Classic for Business: For Small Businesses
• Petal® 2 Visa® Credit Card: For Limited Credit
• Deserve® EDU Mastercard for Students: For Students

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​.

There is no such thing as a prepaid credit card for bad credit. There are credit cards for bad credit (both secured and unsecured), and there are prepaid cards. For prepaid cards, your score has absolutely no relevance, as they are similar to debit cards, except that a prepaid card is not linked to a traditional checking account. Funds are transferred to a prepaid card online, through direct deposit, among other means.… read full answer

Since your score is not a factor in getting a prepaid card, it stands to reason it will not affect it in any way. Because you’re only spending the money that you’ve added to the card, they’re not considered to be a loan like a traditional credit card. And because you’re not borrowing or repaying funds when using a prepaid card, your transactions aren’t reported to the credit bureaus.

While a prepaid card will effectively help you manage your spending and limit your level of debt, they’re not going to help you build your credit.