There are no tire credit cards for bad credit, as they require at least fair credit for approval. So, your best bet is a secured credit card with rewards. That means the best tire-purchase credit card for bad credit is the Discover it® Secured Credit Card because it gives 1 - 2% cash back on purchases (doubled year one). The Discover it® Secured Credit Card also has a $0 annual fee.
The best credit card 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 every month, which is your ticket to a better credit score. And a $35 annual fee isn’t too much to pay for that.… read full answer
The Discover it® Secured Credit Cardis another great 550 credit score credit card. It has a $0 annual fee and actually rewards you for making purchases. A 550 credit score won’t keep you from getting approved either. But a pending bankruptcy will.
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, 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.
They don’t have a whole lot of competition, however. There are very few store credit cards for bad credit available right now. Nearly all store cards require at least fair credit for approval, according to WalletHub’s database of 1,500+ credit card offers. But there are exceptions from time to time.… read full answer
There are other types of cards to consider, too. They include unsecured credit cards for people with bad credit as well as secured credit cards, which give you the highest approval odds. Some even offer rewards and are affiliated with a popular brand. In other words, they’re like store credit cards for bad credit, but you can use them anywhere. You can check out our top picks below.
There aren’t many store credit cards for people bad credit to choose from right now, so identifying the best of the bunch isn’t very difficult. Overall, the best store credit card for bad credit is the Fingerhut Credit Account because you can get it with a poor credit score and there’s no annual fee. Plus, the Fingerhut Credit Account reports to the credit bureaus every month, which will allow you to build credit if you pay your bills on time.
Fingerhut is an online retailer that sells a broad array of goods from major brands, often at a discount, and allows you to pay for them in monthly installments. You can buy TVs and computers for up to 25% off, for example.
You don’t want to limit yourself unnecessarily, however. There are plenty of other credit cards for bad credit that could provide even better perks with popular retailers. So, make sure to keep the following pointers in mind when shopping for the best credit card for your needs.
3 Things to Remember When Looking for Store Credit Cards with Bad Credit
Store credit cards don’t give the highest approval odds. Nearly all store credit cards require at least fair credit for approval.
Store credit cards and co-branded credit cards are different. A store credit card works at no more than a few retailers, but usually just one. A co-branded credit card is affiliated with a retailer or other company but can be used anywhere Visa, Mastercard, Discover or American Express is accepted.
Secured cards are best for credit repair. Store credit cards for poor credit are barely a thing. Secured credit cards, on the other hand, were made to help people with bad credit rebuild.
If you’re interested in more advice, sign up for a free WalletHub account. You can check your credit score for free, with daily updates, and receive personalized credit-improvement tips and recommendations for credit cards with high approval odds.
The easiest tire credit card to get is the Walmart Credit Card because you can get approved with a score in the "fair" credit range. The Walmart Credit Card can be used for purchases in all of the store's departments, including automotive, which sells tires.
The benefit of getting the Walmart Credit Card instead of a tire brand's credit card is that you can use the Walmart Credit Card for things other than tires, because Walmart carries everything from groceries to cell phones. Also, many car care credit cards - Firestone, Goodyear, and Discount Tire, to name a few - come with deferred interest. Deferred interest may look like a 0% APR deal, but it means you'll be charged interest from the purchase date if you don't pay off the entire balance by the time the promotional period ends. It's better to get a credit card without deferred interest whenever you can.… read full answer
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