Credit score recommendations to receive premium secured credit cards

The best secured credit cards with zero credit checks with You upgrade. As your credit moves from bad to average to good, you’ll be in a position to qualify for better cards: Some issuers automatically review your account for potential upgrade to an unsecured card. For example, Discover does this with the Discover it® Secured after eight months. Navy Federal Credit Union starts automatic reviews after six months when you have the Navy Federal Credit Union® nRewards® Secured Credit Card. When your issuer moves you to an unsecured card, you get your deposit back. With other issuers, you may have to specifically request an upgrade. That might mean converting your secured account to unsecured or closing your secured card and opening a new unsecured account. Either way, you get your deposit back.

Applicants do not have to have a credit history, and Capital Bank will not run a credit check. As with most secured credit cards, your credit limit is determined by the amount you deposit, between $200 and $3,000. We like that the annual percentage rate for purchases isn’t as bruising as with some secured cards. You’ll pay 17.39% variable APR, which is higher than standard credit card interest rates, but lower than the 20% APR or higher you’ll find on other cards. You don’t need a bank account to apply. The APR is relatively low compared with other secured credit cards. 17.39% variable APR.

Although it’s always best to pay your credit card in full each month, especially when you’re trying to build credit, the low interest rate on the First Progress Platinum Prestige Mastercard® Secured Credit Card takes a much smaller bite when you do carry a balance. Credit cards for people with bad credit tend to have very high interest rates — often 25% or more. The First Progress Platinum Prestige Mastercard® Secured Credit Card, however, offers a rate lower than what you’ll find on many products for people with good or excellent credit. You can apply with no hard credit inquiry, a benefit to people with lower scores, where every point counts. The annual fee of $49 is on the high side for secured cards. (For a lower fee but a higher APR, consider the First Progress Platinum Elite Mastercard® Secured Credit Card.)

Provided you make on-time payments with a secured card, your security deposit remains untouched and is remitted back to you should you ever close the account. Some issuers even pay you interest on the deposited funds. In time, given a positive record of making payments, issuers may grant you a credit limit that exceeds the security deposit. Eventually, the issuer may also offer you the option to upgrade to a regular—that is, unsecured—credit card. In many cases, that allows the account to remain open, and its increasing age to be an asset to your credit record, which generally rewards having older accounts. If that option isn’t available, though, one can simply close the secured account and apply for an unsecured card once you’ve attained a solid credit score. The free score-monitoring feature offered by most secured cards allows you to track your progress.

The APR on this card is one of its standout benefits; it’s astonishingly low for a secured credit card and competitive with standard credit cards. While it’s usually best not to carry a balance on a secured credit, if you do need to do so, then the Primor card is one of the best options. Is There An Annual Fee? Yes, $39 per annum. Read more: ‘Unbiased Primor Secured Credit Card Review’ » Do They Perform A Credit Check? No, so you don’t have to be concerned about a record of a search on your credit file, and you can definitely obtain a card. See even more details at Eastwoodbank’s.