Written by Salina Jivani
You’re scoping out homes, cars, maybe even furniture. If you’ve got great or decent credit, these purchases probably don’t require a second thought. But the big, fat ugly C word can be quite a deterrent for those who are credit challenged. Unfortunately, bad credit can cost you great opportunities or even steep interest rates for things you dream of one day owning. But, luckily there is a silver lining to your credit woes.
A few credit card companies have programs designed specifically for not so great credit—and they’ve got some good benefits to boot. If you’ve got shoddy credit and are looking to either rebuild it, get access to quick cash or at least benefit from the perks of a good credit card, give one of these three candidates a try:
Milestone® Gold MasterCard®
The Milestone® Gold MasterCard® is a great unsecured credit card, meaning you don’t have to hand over a security deposit. (With a secured card, if you put a $100 as a security deposit, you’ll be able to use only $100 on your card, whereas with an unsecured credit card, you can spend whatever credit limit the credit card company approves you for.)
The good news is that this card is easy to qualify for if you’ve got bad credit, has a simple and quick qualification process and doesn’t post as a hard inquiry on your credit when you apply.
The cherry on top: previous bankruptcies are usually acceptable, given that you’re currently responsible with your finances.
Credit One Bank® Unsecured Visa® Credit Card
This credit card boasts a less-than-60-second approval process and is a solid choice for those who are looking to repair their credit because it reports to all three credit bureaus. Plus, it offers a flexible payment date to make sure you’re able to comfortably and timely make your card payments. Do this repeatedly and consistently and you’ll increase your credit score in the long run. And if you make several payments on time, you’ll be able to successfully request a credit limit increase—which equals more purchasing power!
The cherry on top: Earn 1% cashback on your gas and grocery purchases (terms apply).
Total VISA® Unsecured Credit Card
One of the last-ditch efforts for people who need a credit card in a hurry but have not-so-great credit. The bad news is there’s no rewards or cashback to be earned, but on the plus side, at least you have access to quick cash. Also, since it’s a Visa, it’s accepted worldwide and at many retailers across the nation. The card does report to all three major credit bureaus, so you’ll have a shot at improving your credit score if you make consistent, timely payments.
The cherry on top: Approval is often quick, if not instantaneous.
With credit cards comes responsibility, so do make every attempt to make your payments on time and remember that although not paying your credit card bills on time or in full might seem insignificant in light of other bills that pile up, it can have long-term, adverse effects on your credit—and your standard of living.