Here are several drawbacks you may see with unsecured cards for bad credit: High APRs: Typical cards have APR ranges that max out around 25%, Annual fee: Many credit cards in general have annual fees, but this can often be outweighed by Program or processing fee: Unsecured cards for bad
The Fingerhut Credit Account is one of the best unsecured credit card to get if you have low scores (400-500) and bad credit. There is absolutely no fees to pay (no annual fee, monthly fees or upfront fees) and it makes a great complimentary card as well for your rebuilding efforts.
If it's not as bad as you thought it was, you might have more options. If it is below fair, you can start comparing the best credit cards for bad credit to find one you qualify for and that can meet your needs. The downside of using an unsecured credit card if you have bad credit is your credit limit will likely be low.
If what you are searching for is a lender that issues unsecured credit cards for bad credits or credit cards for bad credit no deposit, then the Unsecured Platinum Visa from the Credit One Bank might be the option that you are looking out for.
That's because, technically, this isn't a business credit card for bad credit—it's a business credit card for fair credit. But, at 550, you won't find a lower minimum credit score required for card eligibility than this from a major, unsecured credit card issuer.
Applying for unsecured credit cards for bad credit can help you make improvements to any credit issues. The downside to bad credit is that in cases where your credit is less than optimal, you'll definitely face trouble when looking for new credit.. So if you're not trying actively, it'll become quite hard to improve your credit history.