If you’re willing to undergo a credit check, there are cards that might fit your needs better than the OpenSky® Secured Visa® Credit Card. We’ll look at two — one secured and one unsecured.
Discover it® Secured Credit Card
The Discover it® Secured Credit Card is an excellent choice for applicants looking to rebuild their credit or those who have no credit history and need a good first credit card that earns cash back (it’s rare for secured cards to offer rewards). It earns 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.
And after seven months, Discover will begin monthly reviews of your account to see if you’re eligible to graduate to an unsecured Discover it® chrome and have your deposit refunded. Note that Discover considers your behavior across cards and loans from all issuers when making this decision.
AvantCard Credit Card
If you can’t afford $200 upfront for a deposit on either the OpenSky® Secured Visa® Credit Card or the Discover it® Secured Credit Card, consider the AvantCard Credit Card. It’s an unsecured card (meaning no deposit is required) for applicants with fair/poor/limited credit, and charges a $59 annual fee.
Unlike some other unsecured cards for bad credit, AvantCard Credit Card doesn’t hit cardholders with additional, unexpected fees and convoluted terms. It’s a good tool for building or rebuilding credit. Plus, you can check on the Avant website to see if you prequalify. Just be aware that this card is not available to residents of Colorado, Iowa, Vermont, West Virginia or Wisconsin.