Credit Cards for a 500 Credit Score: Options and Opportunities
Introduction:
A 500 credit score is hindrance to your financial flexibility but it’s not the end of the world. There are still credit cards that cater for such like you. In this article, we will look into the top 10 credit cards for a 500 credit score in terms of features, benefits and their eligibility criteria. With the right card, you can rebuild your credit history and enjoy economic freedom. A 500 is considered fair, thus you may be charged high rates or be subjected to stringent terms. Nevertheless, responsible use of credit can improve one’s rating and access to better loan facilities.
Credit Card Options:
1. Capital One QuicksilverOne Cash Rewards Credit Card
Earn unlimited 1.5% cash back on every purchase with no rotating categories or spending limits. This card has an introductory offer whereby if you spend $500 within its first three months; once off payment of $150 will be made to you as well as a zero percent APR (annual percentage rate) which lasts for fifteen months and then ninety dollars per annum is levied.
2. Discover it® Secured
Build your credit while earning cash back on gas stations at 2% plus restaurants purchases while other purchases attract a cash back of 1%. You get awarded by $200 statement upon making your first five monthly payments punctually. This card does not require annual fees together with free FICO report as well as free FICO scores.
3. Credit One Bank® Platinum Visa® Credit Card
Get rewarded with money amounting to one percent on all transactions without any changing classes or expense limitations; during the introductory period lasting six months, you will have zero interest charge besides receiving free copies of your score and report from this issuer that charges annually between $0-$99 but allows itself to give deposit driven increases in its ceiling.
4. Milestone® Mastercard®
It has a free credit score monitoring and offers 0% intro APR for six months. You get $300 as your credit limit upon making the security deposit, and earn cash back on all purchases at one percent. This card charges annual fees ranging from $35-$99 but allows itself to give deposit driven increases in its ceiling.
5. Indigo® Platinum Mastercard®
Get $300 to spend after you make a refundable security deposit in case where you are unable to meet the set standard of this amount; for whatever purchase you make 1% cash is given back on each of them. The rates that are charged annually by this card varies from nothing up to ninety nine dollars and it can extend its boundaries through deposits.
6. Capital One® Secured Mastercard®
Get rewarded with money amounting to one percent on all transactions without any changing classes or expense limitations; during the introductory period lasting six months, you will have zero interest charge besides receiving free copies of your score and report from this issuer that charges annually between $0-$99 but allows itself to give deposit driven increases in its ceiling.
7. Credit One Bank® Unsecured Visa® Credit Card
It gives a hundred dollars at most as an unsecured loan before considering adding another dollar after reviewing your accounts’ trend over six months: there are no cashiers waiting for their share every time you use this plastic because what they do is giving only a single percent refund rate on each transaction regardless of whether or not categories change, while new subscriptions receive zero (APR) in six initial billing cycles plus free Fico reports & Credit scores – Fees are thirteen times twenty down then followed by an increase if so desired.
8. LendingClub Bank Credit Card
This card also pays out one percent refund per dollar spent on anything hence it doesn’t matter if subject changes or payment volume rises since these two factors will not affect the amount of cash you get back; during the first six payment cycles however, there will be no interest charges as one is given their score and report for free at an annual fee of nothing and that can only rise up with deposits.
9. Petal® 2 “Cash Back, No Fees” Visa® Credit Card
Earn rewards on all purchases at a rate of 1% with no need to worry about spending limits or rotating categories. Get an increase in credit limit by making a deposit and enjoy a zero percent intro APR for six months. This card does not have an annual fee and provides free credit score monitoring.
10. Capital One® Quicksilver® Cash Rewards Credit Card
Enjoy any amount of money back, equivalent to 1.5%, on every purchase made regardless of the rotation categories or the spending limits. You only need to spend $500 in the first 90 days so as to get a one-time bonus of $150 cashback. Moreover, this card comes with a zero percent introductory APR for fifteen months as well as free annual fees.
Conclusion:
Not having much hope if your credit score is less than 500? Just get the right credit card and you are on your way out of it and living happily ever after. Always make sure that your payments are timely and monitor your report for decreasing utilization rates over time to help build your credit again. Apply for one of these credit cards today and take the first step towards a stronger financial future. By choosing the right credit card and using it responsibly, you can improve your credit score and access better credit options in the future
