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Reviewing the top unsecured credit cards promotions for 2016

If you are rebuilding your credit score, secured credit cards could be just what you need. Often times if your credit score is too heavily damaged, you have just two options, extremely high interest credit cards or secured credit cards. Both have their pros and cons. The pros of the high interest credit cards designed for those with poor credit or no credit at all such as CreditOne’s credit card line, is that you do not need to pay a deposit to secure the credit card, the trade of is high fees and a high APR. The pros of a secured card is a lower interest rate and often times less fees. Both can rebuild your credit score if you pay it off on time, and keep your balance below 30% of your credit limit. We worked with the editorial team at top credit cards and have complied a list of the top 5 secured credit cards going into 2016, to help you better on your search for the best secured credit card.

Capital One® Secured MasterCard®
This secured credit card features no annual fee and a regular purchase APR of only 24.9% variable. This card also features a low deposit requirement, with a minimum of only $200, which should not set you back to much. You will receive your deposit back when your credit card is upgraded to a regular credit card in due time with responsible payments. You can get credit limit increases based on your payment history, with no need to secure the additional amount that your credit limit is raised. You also receive your credit score for free every month, including tools to see future credit score changes, via their credit score tracker using sliders that you input basic information into. This card report to all 3 major credit bureaus.


Primor® Secured Visa Gold Card

This secured credit card has no penalty rate for late payments, and also they do not have any application fees. Like the other cards on this list they report to all three major credit bureaus. To be approved your monthly income needs to only exceed your monthly expenses by $100. Like all secured cards this card has no perks, unless you count rebuilding or building your credit as a perk. It has an annual fee of $49.

FingerHut Credit Account
While this is not a credit card, rather a revolving line of credit with an online retailer, they will often give you credit via their “Fresh Start” credit program, issued through WebBank. You only have to pay $30 on your first purchase. Often times their credit limits seem odd. When I used it, my initial credit limit was $230, but now is over $1000, which happened in less than a year. This can be a smart move on your part to rebuild your credit, as it appears as a line of credit on your credit reports, giving you a different type of credit to appear on your credit report. You can get a decision in less than 60 seconds, and it seems most people get approved for at least some amount of credit, which will increase over time with responsible payments.
Fingerhut

Citi® Secured MasterCard®
Third on our list is the Citi® Secured MasterCard®. This card reports to all all 3 major credit bureaus, much like the Capital One card in our list, but it carries a $25 dollar annual fee sadly. Your current credit score does not affect your approval to get this card, no matter how bad your credit score may be. You only need a security deposit of $200 to get started with this card. There is a penalty APR of 29.99% so beware of this, if you miss a payment you will get slammed with this hefty penalty. Also stay away from cash advances on this credit card, as it carries a 5% fee based on the amount of the cash advance. This card also has zero perks, it is strictly for rebuilding your credit score until you can qualify for a regular credit card.

First Progress Platinum Elite MasterCard® Secured Credit Card
This secured credit card is available in all states except for NY, IA, AR, and WI. This card requires no credit history, so even if your credit score is rock bottom, you will be able to get this card. This card does monthly reporting to all 3 major credit bureaus, which will help you to establish or to re-establish your credit history. The regular purchase APR is not to bad, sitting at 19.99%, the only down side to this card is the $29 dollar annual fee. You can close out the account at any time and receive your deposit back.

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Connecticut Short Term Loans