A card that suits you best is one that you can get even if your credit score is not perfect. There are many choices, from the Unsecured Business credit card to the Upgrade Cash Reward Visa(r) card. Which one is best for you? Read on to find out. We will explain what you need to know about credit cards. We'll also explain what each card type can offer. The best credit cards for fair credit can help you improve your credit score.
Unsecured credit card for business
Although it can be difficult to secure an unsecured business credit line, it can be possible to get approved. The payment activity for this card type is reported to credit agencies. Some report only to business credit bureaus, while others report directly to personal credit bureaus. This can be avoided by monitoring your credit score at least once a quarter. Once your credit score is higher, you are eligible to apply for an unsecured business credit card.
Many unsecured business credit cards offer rewards programs and higher spending limits. Although they are easier to obtain if you have good personal credit, they can be abused, especially if they offer higher limits. Cardholders can overspend due to the higher interest rates and rewards programs. A secured business credit card is a better option if you are worried about being tempted to spend more money than you earn. Your business will last a lifetime if you keep your spending under control.
Capital One Platinum Credit Card
Capital One Platinum Card is an option for those with poor credit scores. This card is free of any annual fees and requires no security deposit. It allows you to build your credit history. It is also no annual fee, making it easy to manage your finances while building a credit history. In six months, you could be considered for a higher credit line. This credit card may be the perfect choice for you if you have a fair credit history and want to improve your credit rating.
This basic unsecured card has no annual fee and a higher credit limit after six month, making it an attractive alternative to secured cards. The only drawback is that it lacks a rewards program and has a high interest rate. Capital One Platinum Credit Card is for people with fair credit. It's designed to allow those with less than perfect credit to start building a credit history. To be approved, your FICO credit score must be at least 580. You can still be approved if you have a credit score between 580-620.
Petal 2 card
Petal 2 credit cards offer a 1% cashback rate for all purchases. After six or twelve consecutive on-time monthly payments, the rate will rise to 1.25%. Purchases made at select merchants can earn you ten percent. The petal2 card is unsecured, meaning you do not need to deposit any money to open an account. The card has some limitations, however, including a high APR.
Petal is geared towards people with limited credit histories, and as such, if you've missed a few payments in the past, your preapproval decision will be adversely affected. But, it shouldn't stop anyone from applying for a Petal 2 credit card. People with bad credit have other options. If you don't have good credit, the Petal 2 card might be the best choice. But it is important to look at other options.
Upgrade Cash Rewards Visa(r)
The Upgrade Cash Rewards Visa credit card rewards customers who make timely payments on their debt. It offers 1.5% cashback to customers with excellent credit. It does not require a security deposit or annual fee. Also, it reports on-time payments to all three major credit agencies. It may not be appropriate for consumers with poor to average credit. Candidates with good credit or excellent credit may be eligible for lower APRs and a 0% intro rate.
Upgrade Triple Cash Rewards Visa has a credit limit of at least $500. This credit line is guaranteed to offer this amount. However, the credit limit can increase or decrease depending on your income and credit rating. You can use the credit limit to make large purchases, and you can pay it off over time. However, you cannot use this credit card for cash advances. To qualify for this credit card you will need to have a steady income.