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Best Credit Cards for Beginners of June 2022

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated May 31, 2022 . Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

The Discover it® Secured Credit Card is our top overall pick for individuals starting out on their credit journey, since it offers cash back on every purchase, a $0 annual fee and the opportunity to help build your credit history.
Best Credit Cards for Beginners of June 2022
Best overall credit card for beginners Discover it® Secured Credit Card
Best credit card for beginners to help build credit Capital One Platinum Credit Card
Best credit card for beginners with a simple rewards structure Capital One QuicksilverOne Cash Rewards Credit Card
Best credit card for beginners with a low security deposit Capital One Platinum Secured Credit Card
Best credit card for beginners with no credit check OpenSky® Secured Visa® Credit Card
Best student credit card for beginners Discover it® Student Cash Back
Best credit card for beginners for international students Deserve® EDU Mastercard for Students

Because we’re dependent upon credit for so many of life’s major events — including buying a car, purchasing a home and even (at times) getting a job — it’s crucial to establish good credit history at an early age.

Signing up for a credit card, and using it responsibly, is a great way for those who are new to credit to build their credit profile. Just know, starter credit cards don’t typically offer some of the bells and whistles often associated with credit cards designed for those with good or excellent credit, such as generous sign-up bonuses or introductory APRs on purchases and balance transfers.

That said, it is possible for beginners to find credit cards with limited fees, rewards programs and useful benefits.

Based on our research of cards available through LendingTree, as well as top cards offered by issuers, we compiled a list of the best credit cards for beginners for the following categories:

Best For Overall credit card for beginners

Discover it<sup>®</sup> Secured Credit Card

Discover it® Secured Credit Card

Apply Now
on Discover's secure site
Intro Purchase APR N/A
Annual Fee $0
Regular Purchase APR 24.49% Variable APR

The Discover it® Secured Credit Card is a well-rounded secured card for beginners, since it provides the opportunity to build your credit while offering cash back on every purchase and a $0 annual fee.

The card requires a security deposit ranging from $200 to $2,500, which serves as your line of credit. In the event you don’t pay off what you charge to the card, Discover will use the deposit to recoup that loss.

Discover it® Secured Credit Card holders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically — which is rare for a secured card.

Plus, cardholders get the following sign-up bonus: Discover will match all the cash back you’ve earned at the end of your first year.

As for foreign transaction fees, there are none.

The Discover it® Secured Credit Card is intended for those with poor/limited credit. After you’ve had the card for 7 months, Discover will begin conducting monthly account reviews to see if you’re eligible to graduate to an unsecured card and get your deposit refunded.

If this happens, your card will transition to a Discover it® chrome. Note, Discover will evaluate your behavior across your credit cards and loans from Discover as well as other issuers or lenders. You can also get your deposit back if you choose to close your account and pay any remaining balance.

The Discover it® Secured Credit Card doesn’t charge a fee the first time you pay late; after that, the late fee will be up to $41. But, keep in mind, that on-time payments are the No. 1 factor influencing your credit score.

In addition, if you carry a balance on your card from month to month, you will be subject to interest charges of 24.49% Variable APR.

Additional Discover it® Secured Credit Card benefits include:

  • Free FICO Score access
  • Discover Identity Alerts
  • Ability to freeze and unfreeze your card
  • U.S.-based 24/7 customer support

The Discover it® Secured Credit Card is a well-rounded secured card for beginners, since it provides the opportunity to build your credit while offering cash back on every purchase and a $0 annual fee.

The card requires a security deposit ranging from $200 to $2,500, which serves as your line of credit. In the event you don’t pay off what you charge to the card, Discover will use the deposit to recoup that loss.

Discover it® Secured Credit Card holders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically — which is rare for a secured card.

Plus, cardholders get the following sign-up bonus: Discover will match all the cash back you’ve earned at the end of your first year.

As for foreign transaction fees, there are none.

The Discover it® Secured Credit Card is intended for those with poor/limited credit. After you’ve had the card for 7 months, Discover will begin conducting monthly account reviews to see if you’re eligible to graduate to an unsecured card and get your deposit refunded.

If this happens, your card will transition to a Discover it® chrome. Note, Discover will evaluate your behavior across your credit cards and loans from Discover as well as other issuers or lenders. You can also get your deposit back if you choose to close your account and pay any remaining balance.

The Discover it® Secured Credit Card doesn’t charge a fee the first time you pay late; after that, the late fee will be up to $41. But, keep in mind, that on-time payments are the No. 1 factor influencing your credit score.

In addition, if you carry a balance on your card from month to month, you will be subject to interest charges of 24.49% Variable APR.

Additional Discover it® Secured Credit Card benefits include:

  • Free FICO Score access
  • Discover Identity Alerts
  • Ability to freeze and unfreeze your card
  • U.S.-based 24/7 customer support

Best For Beginners to build credit

Capital One Platinum Credit Card

Capital One Platinum Credit Card

Apply Now
on Capital One's secure site
Intro Purchase APR N/A
Annual Fee $0
Regular Purchase APR 26.99% (Variable)

The Capital One Platinum Credit Card is an unsecured (meaning no security deposit is required), no-frills card that charges a $0 annual fee. While the card doesn’t offer a rewards program, it does report credit usage to the three major credit bureaus (Experian, Equifax and TransUnion) and automatically considers cardholders for credit line increases in as little as six months.

You should also keep in mind that when trying to build credit, it’s generally best practice to focus on paying your credit card balance in full and on time each month, rather than earning rewards.

If you carry a balance on the Capital One Platinum Credit Card from month to month, you will be subject to interest charges at an APR of 26.99% (variable).

If you’re looking to boost your credit profile with the help of a credit card, the Capital One Platinum Credit Card is a solid option.

The card is intended for individuals with average/fair/limited credit, which Capital One describes as those who have defaulted on a loan in the past five years or those who have had a credit card or other credit for less than three years.

While the Capital One Platinum Credit Card doesn’t earn rewards, after demonstrating responsible usage, you may be able to request a product change to a Capital One card that does — such as the Capital One QuicksilverOne Cash Rewards Credit Card or the Capital One VentureOne Rewards Credit Card.

Additional Capital One Platinum Credit Card benefits include:

  • Automatic credit line reviews
  • Account alerts
  • 24/7 customer service
  • Tap to pay technology

The Capital One Platinum Credit Card is an unsecured (meaning no security deposit is required), no-frills card that charges a $0 annual fee. While the card doesn’t offer a rewards program, it does report credit usage to the three major credit bureaus (Experian, Equifax and TransUnion) and automatically considers cardholders for credit line increases in as little as six months.

You should also keep in mind that when trying to build credit, it’s generally best practice to focus on paying your credit card balance in full and on time each month, rather than earning rewards.

If you carry a balance on the Capital One Platinum Credit Card from month to month, you will be subject to interest charges at an APR of 26.99% (variable).

If you’re looking to boost your credit profile with the help of a credit card, the Capital One Platinum Credit Card is a solid option.

The card is intended for individuals with average/fair/limited credit, which Capital One describes as those who have defaulted on a loan in the past five years or those who have had a credit card or other credit for less than three years.

While the Capital One Platinum Credit Card doesn’t earn rewards, after demonstrating responsible usage, you may be able to request a product change to a Capital One card that does — such as the Capital One QuicksilverOne Cash Rewards Credit Card or the Capital One VentureOne Rewards Credit Card.

Additional Capital One Platinum Credit Card benefits include:

  • Automatic credit line reviews
  • Account alerts
  • 24/7 customer service
  • Tap to pay technology

Best For Simple rewards structure

Capital One QuicksilverOne Cash Rewards Credit Card

Capital One QuicksilverOne Cash Rewards Credit Card

Apply Now
on Capital One's secure site
Intro Purchase APR N/A
Annual Fee $39
Regular Purchase APR 26.99% (Variable)

The Capital One QuicksilverOne Cash Rewards Credit Card lets cardholders earn a flat rewards rate of 1.5% cash back on every purchase, every day; 5% cash back on hotels and rental cars booked through capital one travel (terms apply).

Rewards can be redeemed for checks, statement credits or gift cards, or used to directly cover a recent purchase.

There is a $39 annual fee, but you can recoup it in cash back if you spend $2,600 a year on the card. The Capital One QuicksilverOne Cash Rewards Credit Card also has an APR of 26.99% (variable).

Once approved for the card, Capital One will consider your account for a higher credit line in as little as six months.

If you have average/fair/limited credit and want an unsecured card with a simple approach to earning rewards while building your credit, the Capital One QuicksilverOne Cash Rewards Credit Card could be a great fit, since it doesn’t come with bonus categories or spending caps.

Plus, after demonstrating responsible card usage and building a relationship with Capital One, you may be able to request a product change to the Capital One Quicksilver Cash Rewards Credit Card — it earns cash back at the same flat rate as the Capital One QuicksilverOne Cash Rewards Credit Card, but charges a $0 annual fee.

Additional Capital One QuicksilverOne Cash Rewards Credit Card benefits include:

  • Automatic credit line reviews starting at six months
  • $0 fraud liability
  • Ability to lock your card
  • Emergency card replacement
  • Tap and pay technology

The Capital One QuicksilverOne Cash Rewards Credit Card lets cardholders earn a flat rewards rate of 1.5% cash back on every purchase, every day; 5% cash back on hotels and rental cars booked through capital one travel (terms apply).

Rewards can be redeemed for checks, statement credits or gift cards, or used to directly cover a recent purchase.

There is a $39 annual fee, but you can recoup it in cash back if you spend $2,600 a year on the card. The Capital One QuicksilverOne Cash Rewards Credit Card also has an APR of 26.99% (variable).

Once approved for the card, Capital One will consider your account for a higher credit line in as little as six months.

If you have average/fair/limited credit and want an unsecured card with a simple approach to earning rewards while building your credit, the Capital One QuicksilverOne Cash Rewards Credit Card could be a great fit, since it doesn’t come with bonus categories or spending caps.

Plus, after demonstrating responsible card usage and building a relationship with Capital One, you may be able to request a product change to the Capital One Quicksilver Cash Rewards Credit Card — it earns cash back at the same flat rate as the Capital One QuicksilverOne Cash Rewards Credit Card, but charges a $0 annual fee.

Additional Capital One QuicksilverOne Cash Rewards Credit Card benefits include:

  • Automatic credit line reviews starting at six months
  • $0 fraud liability
  • Ability to lock your card
  • Emergency card replacement
  • Tap and pay technology

Best For Low security deposit

Capital One Platinum Secured Credit Card

Capital One Platinum Secured Credit Card

Apply Now
on Capital One's secure site
Intro Purchase APR N/A
Annual Fee $0
Regular Purchase APR 26.99% (Variable)

Unlike most secured cards that offer a credit line equal to the amount of your security deposit, the Capital One Platinum Secured Credit Card offers the opportunity to qualify for a higher credit line than your initial security deposit.

The card requires a minimum refundable deposit of $49, $99 or $200 — which will get you an initial credit line of $200. Plus, you can get a higher credit line if you deposit more money before your account opens, up to a maximum limit of $1,000.

This $0 card comes with an APR of 26.99% (variable).

If you’re interested in using a secured card to help boost your credit, but don’t want to put down a large deposit, the Capital One Platinum Secured Credit Card is a great option.

That said, you’ll have to apply and be approved before your minimum deposit is determined, and you’re not guaranteed to get one of the lower deposit amounts.

The Capital One Platinum Secured Credit Card doesn’t offer a rewards program; however, after six months of demonstrating responsible card usage, Capital One will review your eligibility for an increased credit limit.

Additional Capital One Platinum Secured Credit Card benefits:

  • Automatic credit line reviews
  • Card lock technology
  • CreditWise from Capital One
  • Foreign transaction fees: None
  • Emergency card replacement
  • Ability to add an authorized user

Unlike most secured cards that offer a credit line equal to the amount of your security deposit, the Capital One Platinum Secured Credit Card offers the opportunity to qualify for a higher credit line than your initial security deposit.

The card requires a minimum refundable deposit of $49, $99 or $200 — which will get you an initial credit line of $200. Plus, you can get a higher credit line if you deposit more money before your account opens, up to a maximum limit of $1,000.

This $0 card comes with an APR of 26.99% (variable).

If you’re interested in using a secured card to help boost your credit, but don’t want to put down a large deposit, the Capital One Platinum Secured Credit Card is a great option.

That said, you’ll have to apply and be approved before your minimum deposit is determined, and you’re not guaranteed to get one of the lower deposit amounts.

The Capital One Platinum Secured Credit Card doesn’t offer a rewards program; however, after six months of demonstrating responsible card usage, Capital One will review your eligibility for an increased credit limit.

Additional Capital One Platinum Secured Credit Card benefits:

  • Automatic credit line reviews
  • Card lock technology
  • CreditWise from Capital One
  • Foreign transaction fees: None
  • Emergency card replacement
  • Ability to add an authorized user

Best For No credit check

OpenSky<sup>®</sup> Secured Visa<sup>®</sup> Credit Card

OpenSky® Secured Visa® Credit Card

Apply Now
on OpenSky's secure site
Intro Purchase APR N/A
Annual Fee $35
Regular Purchase APR 17.64% (variable)

The OpenSky® Secured Visa® Credit Card is a secured card that doesn’t require a credit check to be approved. This card is designed for individuals with poor/limited credit, and requires a refundable security deposit ranging from $200 to $3,000, which will serve as your line of credit.

The OpenSky® Secured Visa® Credit Card has an ongoing APR of 17.64% (variable) and charges a $35 annual fee. In addition, if you use the card to make purchases outside of the U.S., you will be subject to foreign transaction fees of 3% of each Transaction in U.S. dollars.

Because the OpenSky® Secured Visa® Credit Card doesn’t require a credit check when you apply, it may be your best option if your credit is too bad to get approval for a traditional card, or even a secured card, that requires a review of your credit history. And while this card doesn’t require that you have a bank account for approval (which some secured cards require), you will have to provide some financial information, including your annual income, monthly housing payment and housing payment type.

The OpenSky® Secured Visa® Credit Card doesn’t offer the option to transition to an unsecured card after demonstrating responsible card usage. Therefore, the only way to get your deposit back is to pay your balance in full and close the account once your credit improves to the point where you can qualify for an unsecured card.

Additional OpenSky® Secured Visa® Credit Card benefits:

  • Access to Visa benefits
  • Monthly reporting to the three major credit bureaus
  • Mail alerts
  • Four-step application process
  • Convenient mobile app

The OpenSky® Secured Visa® Credit Card is a secured card that doesn’t require a credit check to be approved. This card is designed for individuals with poor/limited credit, and requires a refundable security deposit ranging from $200 to $3,000, which will serve as your line of credit.

The OpenSky® Secured Visa® Credit Card has an ongoing APR of 17.64% (variable) and charges a $35 annual fee. In addition, if you use the card to make purchases outside of the U.S., you will be subject to foreign transaction fees of 3% of each Transaction in U.S. dollars.

Because the OpenSky® Secured Visa® Credit Card doesn’t require a credit check when you apply, it may be your best option if your credit is too bad to get approval for a traditional card, or even a secured card, that requires a review of your credit history. And while this card doesn’t require that you have a bank account for approval (which some secured cards require), you will have to provide some financial information, including your annual income, monthly housing payment and housing payment type.

The OpenSky® Secured Visa® Credit Card doesn’t offer the option to transition to an unsecured card after demonstrating responsible card usage. Therefore, the only way to get your deposit back is to pay your balance in full and close the account once your credit improves to the point where you can qualify for an unsecured card.

Additional OpenSky® Secured Visa® Credit Card benefits:

  • Access to Visa benefits
  • Monthly reporting to the three major credit bureaus
  • Mail alerts
  • Four-step application process
  • Convenient mobile app

Best For Student credit card

Discover it<sup>®</sup> Student Cash Back

Discover it® Student Cash Back

Apply Now
on Discover's secure site
Intro Purchase APR 0% Intro APR for 6 months on purchases
Annual Fee $0
Regular Purchase APR 14.49% - 23.49% Variable APR

Designed for students, the $0 annual fee Discover it® Student Cash Back lets cardholders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

In addition, cardholders get the following sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

The Discover it® Student Cash Back can help students build a solid credit history and credit score while also earning rewards in popular spending categories.

If you need to finance a large purchase, like a laptop or school books, you can do so interest free for half a year with the Discover it® Student Cash Back. The card offers a 0% Intro APR for 6 months on purchases, then an ongoing 14.49% - 23.49% Variable APR applies. Plus, receive a 10.99% Intro APR for 6 months on balance transfers, then a 14.49% - 23.49% Variable APR will apply.

The Discover it® Student Cash Back is designed for students with fair/limited credit. Just know, to apply for this card, you need to be at least 18 years old, have a U.S. address, have a Social Security number and show proof of education.

Additional Discover it® Student Cash Back benefits include:

  • Free Social Security number alerts
  • Ability to freeze card
  • $0 fraud liability
  • 100% U.S.-based, 24/7 customer service

Designed for students, the $0 annual fee Discover it® Student Cash Back lets cardholders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.

In addition, cardholders get the following sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

The Discover it® Student Cash Back can help students build a solid credit history and credit score while also earning rewards in popular spending categories.

If you need to finance a large purchase, like a laptop or school books, you can do so interest free for half a year with the Discover it® Student Cash Back. The card offers a 0% Intro APR for 6 months on purchases, then an ongoing 14.49% - 23.49% Variable APR applies. Plus, receive a 10.99% Intro APR for 6 months on balance transfers, then a 14.49% - 23.49% Variable APR will apply.

The Discover it® Student Cash Back is designed for students with fair/limited credit. Just know, to apply for this card, you need to be at least 18 years old, have a U.S. address, have a Social Security number and show proof of education.

Additional Discover it® Student Cash Back benefits include:

  • Free Social Security number alerts
  • Ability to freeze card
  • $0 fraud liability
  • 100% U.S.-based, 24/7 customer service

Best For International students

Deserve<sup>®</sup> EDU Mastercard for Students

Deserve® EDU Mastercard for Students

Apply Now
on Deserve's secure site
Intro Purchase APR N/A
Annual Fee $0
Regular Purchase APR 20.24% variable

The Deserve® EDU Mastercard for Students offers 1% unlimited cash back on all purchases. It also offers a one-time $59 reimbursement for Amazon Student Prime membership (which is now $69 for the annual plan or $7.49 per month for the monthly plan) when you use your card to pay the membership fee.

The Deserve® EDU Mastercard for Students comes with a $0 annual fee and an ongoing APR of 20.24% variable on purchases. As for foreign transaction fees — there are none.

The Deserve® EDU Mastercard for Students is a great financial tool for international students studying at U.S. colleges.

While most credit cards require a Social Security number to apply, international students can be approved for the Deserve® EDU Mastercard for Students without one. Just know, if you’re an international student studying in the U.S., you will need to add your SSN in order for the account and payment history show up on your credit reports.

Additional Deserve® EDU Mastercard for Students benefits:

  • Cellphone protection
  • Collision damage waiver
  • Mastercard Platinum benefits

The Deserve® EDU Mastercard for Students offers 1% unlimited cash back on all purchases. It also offers a one-time $59 reimbursement for Amazon Student Prime membership (which is now $69 for the annual plan or $7.49 per month for the monthly plan) when you use your card to pay the membership fee.

The Deserve® EDU Mastercard for Students comes with a $0 annual fee and an ongoing APR of 20.24% variable on purchases. As for foreign transaction fees — there are none.

The Deserve® EDU Mastercard for Students is a great financial tool for international students studying at U.S. colleges.

While most credit cards require a Social Security number to apply, international students can be approved for the Deserve® EDU Mastercard for Students without one. Just know, if you’re an international student studying in the U.S., you will need to add your SSN in order for the account and payment history show up on your credit reports.

Additional Deserve® EDU Mastercard for Students benefits:

  • Cellphone protection
  • Collision damage waiver
  • Mastercard Platinum benefits

Side-by-side comparison of the best credit cards for beginners

Credit cardBest forAnnual fee
Discover it® Secured Credit CardOverall credit card for beginners2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically$0
Capital One Platinum Credit CardBuilding credit for beginnersNon-rewards Card$0
Capital One QuicksilverOne Cash Rewards Credit CardSimple rewards structure for beginners1.5% cash back on every purchase, every day; 5% cash back on hotels and rental cars booked through capital one travel (terms apply)$39
Capital One Platinum Secured Credit CardLow security deposit for beginnersNon-rewards Card$0
OpenSky® Secured Visa® Credit CardNo credit check credit card for beginnersNone$35
Discover it® Student Cash BackStudent credit card for beginners5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically$0
Deserve® EDU Mastercard for StudentsInternational student credit card for beginners1% unlimited cash back on all purchases$0

Methodology

To select the best card for each of these categories, our credit card experts compared cards designed for individuals with poor, limited and average credit on LendingTree.com and issuer sites.

We chose our top picks based on a variety of factors, including the each card’s annual fee, interest rate, rewards program and more.

Other factors that came into play when making our selections were the benefits offered by the card and the opportunity to increase your credit line with responsible card usage.

Does being an authorized user build credit?

If you’re not ready to take on the responsibility for your own credit card, or cannot qualify for one of your own yet, consider asking a family member to add you as an authorized user on their card account.

Becoming an authorized user allows you to piggyback off someone else’s credit, without bearing any responsibility for making payments. Just make sure the account you’re being added to is in good standing, has a low balance and is paid on time all the time.

Once added as an authorized user to the card, the history of that card will appear on your credit reports. While you’re not responsible for paying the bills, your family member is, so if you do use the card (and you don’t have to in order to have it appear on your credit reports), repay the primary cardholder for your charges so as not to create any ill will.

Once your credit score has benefited from being an authorized user, you can then apply for a card of your own and then ask to be removed from the authorized user card.

Choosing the best credit card for beginners

Choosing a starter credit card can seem daunting, but by answering a few key questions, you can help narrow down your search. For example:

  • What is your credit score? Knowing your credit score is a quick way to gain insight into which cards you may qualify for. For example, if your FICO Score falls within the 580 to 669 range, you may be able to be approved for a card designed for those with fair credit.
  • Do you qualify for a student card? You may qualify for a student credit card if you’re age 18 or older, in college and can prove a source of steady income.
  • Do you have a bad credit history? If you’re new to credit cards, but have a history of paying other bills, such as rent or car payments, late (or not at all), your best option may be a secured card or a credit card that doesn’t conduct a credit check.

 

If you’re not ready to open your own credit card, you can ask a family member to add you as an authorized user and begin building credit that way. Once you’ve established a fair or good credit score and are comfortable using plastic to pay for purchases, you can open your own card down the road.

Best credit cards for beginners FAQs

You can check your credit score in a variety of ways without generating a hard inquiry, which won’t negatively affect it. For example, you can request a free copy of your FICO Score every 30 days through Experian, or you can sign up for a free credit score through My LendingTree.

In addition, the Fair Credit Reporting Act (FCRA) requires each of the three major credit bureaus to provide individuals with one free credit report each year through AnnualCreditReport.com, as well as any time that a company takes adverse action against you, such as rejecting you for a credit card or loan.

FICO considers a score of 670 to 739 to be a good credit score. According to Discover, the “good credit” category generally includes dependable borrowers who may have been slightly late on a payment in the past or who may not have a long credit history.

Capital One, on the other hand, states that a good credit candidate has not declared bankruptcy or defaulted on a loan in the past five years. In addition, the individual has a credit card or loan and has not been more than 30 day late on any payments in the last year.

A secured card requires you to submit a security deposit, which typically serves as your line of credit; this will protect the issuer in the event you don’t pay off what you charge to the card. The deposit is generally refundable if you pay off your card balance in full and close the account, or if the issuer transitions you to an unsecured card.

Tracy Brackman

  • Expertise: Credit cards, credit scoring, personal finance
  • Education: Ohio State University, Florida International University

 


Tracy Brackman is a senior editor and credit card expert at LendingTree, where she writes and edits educational pieces on credit card-related topics and personal finance using her 12+ years of experience in the field.

Before joining LendingTree in 2019, Tracy worked as a products editor for CreditCards.com, where she developed the credit card products section and created content focused on breaking credit card news.

Prior to that, she worked as a product information manager for Bankrate, where she managed the financial and credit card product details and maintained compliance for two affiliate networks, as well as Bankrate-owned and operated sites.

She began working in the credit card space in 2009 as the editorial department manager for FlexOffers, an affiliate marketing company.

Tracy studied marketing at the Ohio State University and Florida International University.

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The above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.