When you want to build or rebuild your credit, it’s important to choose a card that will help you make the most of your finances. The best credit cards for building credit offer rewards, low annual fees and other benefits that can improve your financial health.
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Secured credit cards are a great way to start the process of rebuilding your credit, especially if you have bad or no credit. These credit cards typically require a security deposit, but you can find a range of best credit card for building credit options to suit your needs and budget.
The best secured credit cards are ones that offer a variety of helpful features, including rewards, low annual fees and a low interest rate. They also report your credit activity to the three major credit bureaus and can help you boost your credit score.
Some secured credit cards allow you to transfer your balance from other cards for a small fee. This can help you lower your overall debt, pay down your credit card balance and build credit faster.
Be sure to review the fine print on a credit card before you apply. This can include information about foreign transaction fees, authorized user fees, penalty APR, cash advance APR and how your rewards are earned and redeemed.
The Discover it Secured is a solid choice for credit-builders who want to avoid annual fees and earn 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter combined). You’ll also get 1% back on all other purchases, plus whatever you earn the first year will be doubled as an account anniversary bonus.