RedditHow to Build Credit History
Using a subprime credit card can be an effective strategy for rebuilding your credit. You have the option of choosing between an unsecured subprime card or a secured credit card. By using the card responsibly, you’ll establish a positive payment history. Your credit report will reflect the positive impact of this responsible usage, and as your credit improves, you may qualify for traditional credit cards with better terms.
Unsecured Subprime Cards
Unsecured subprime cards don’t require a deposit but may come with higher interest rates and fees. Those with poor or damaged credit and prior bankruptcies may qualify for unsecured subprime cards. After you improve your credit, you may qualify for traditional credit cards. Check out the following unsecured subprime cards:
| Credit Cards | Purchase APR | Transfer Info | Annual Fee | Credit Level |
|---|---|---|---|---|
| Destiny Mastercard® | See terms | N/A | See terms | Poor To GoodApply NowView Card Details |
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| Reflex® Platinum Mastercard® | 35.90% Fixed APR | N/A | $75 - $125 | Fair / Poor / Bad / LimitedApply NowView Card Details |
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- All the benefits of a Mastercard, without a security deposit
- 24/7 access to your account, even on mobile!
- Reports to all three major credit bureaus
- Less than perfect credit is okay, even with a prior bankruptcy!
- Up to $1,000 Initial Credit Limit
- See if you Pre-Qualify with No Impact to your Credit Score
- Less than perfect credit? We understand. The Reflex Mastercard is ideal for people looking to rebuild their credit.
- Unsecured credit card requires No Security Deposit
- Perfect card for everyday purchases and unexpected expenses
- Monthly reporting to the three major credit bureaus
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
Secured Credit Cards
Secured Credit Cards require a cash deposit as collateral, which typically becomes your credit limit. They may have low fees and favorable terms. Some of these cards don’t have an annual fee and even give you cash back on your purchases. Check out the following secured credit cards:
| Credit Cards | Purchase APR | Transfer Info | Annual Fee | Credit Level |
|---|---|---|---|---|
| OpenSky® Plus Secured Visa® Credit Card | 28.99% (Variable) APR | N/A | $0 | No Credit, Poor, FairApply NowView Card Details |
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| First Latitude Assent Mastercard® Secured Credit Card | 28.24% (V) APR | N/A | $0 | Poor / Limited / NoApply NowView Card Details |
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| First Progress Platinum Select Mastercard® Secured Credit Card | 18.24% (V) APR | N/A | $39 | Poor / Limited / NoApply NowView Card Details |
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- No annual fee - keep more money in your pocket!
- No credit check required - 89% approval rate with zero credit risk to apply!
- Earn up to 10% cash back on everyday purchases
- Boost your credit score fast-2 out of 3 OpenSky® cardholders see an average increase of 47 points after 6 months
- Track your progress with free access to your FICO® score in our mobile app
- Build your credit history with reporting to all three major credit bureaus: Experian, Equifax, and TransUnion
- Seamless payments-add your card to Apple Pay, Google Pay, and Samsung Pay
- Start with as little as $300 - Secure your line with a refundable security deposit
- Fast and easy application-apply in minutes with our mobile-first experience
- Flexible payment options-pick a due date that works for you
- More time to fund-spread your security deposit over 60 days with layaway
- Join 1.6 million+ cardholders who have used OpenSky® to build better credit!
- Choose the First Latitude Assent Card and enjoy $0 Annual Fee!
- Secure your credit line with your refundable security deposit - choose from $200- $2,000. With the ability to increase up to $5,000 over time!
- Earn 1% Cash Back Rewards on payments made to your First Latitude Secured credit card account.
- Designed to push you forward on your credit building journey with $0 Annual Fee.
- Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and TransUnion.¹
- All credit types welcome to apply!
- ¹Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
- *See Important Disclosures for complete offer details
- Get a First Progress Select Card and Earn 1% Cash Back Rewards!
- Secure your credit line with your refundable security deposit - choose from $200- $2,000 - with the ability to increase up to $5,000 over time!
- Choose the First Progress Select Card for a lower annual fee!
- All credit types welcome to apply!
- Build your credit history across 3 major credit reporting agencies: Equifax, Experian and TransUnion.¹
- ¹Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
Conclusion
Unsecured subprime cards give you immediate access to credit without a deposit, while secured cards are often easier to obtain and come with fewer risks in terms of high fees. Ultimately, both types of cards can help you rebuild your credit. Your credit score will improve as long as you keep making on-time payments.
