Secured Credit Cards To Rebuild Credit

Once you have ran into credit problems or even have filed bankruptcy, you may want to look into secured credit cards to rebuild credit. Rebuilding your credit is a slow and steady process that takes much longer than it did to destroy it. Using secured credit cards to rebuild your credit is not only helpful in proving you are able to repay debts when due but also to you to learn to not live outside of your financial means. In a sense, a secured credit card is nothing more than a savings account that you borrow from and repay.

1. Orchard Bank Classic Mastercard – This secured credit card reports to all three of the credit agencies monthly. The APR and annual fees will vary depending on exactly which secured credit card fits your situation the best.

2. OPEN SKY Secured Visa – For a secured credit card they offer a competitive interest rate and a reasonable $50 annual fee. They report to all three credit bureaus ad do not require customers to have a checking account.

3. Capital One Secured Mastercard – The APR and annual fees are determined by company after viewing your credit report and history. Offers a credit line up to $3000. They also report to three bureaus.

4. First Premiere Bank Mastercard – This card offers a little more freedom than a traditional secured credit card. A $95 deposit will give you a $300 credit limit. A low credit limit will help prevent you from getting into financial trouble.

5. Public Savings Open Sky Secured – An annual fee of $50 and four funding options make this a secured credit card worth taking a look at. They report to all three credit bureaus to help start rebuilding your credit.