A card that suits you best is one that you can get even if your credit score is not perfect. There are many options, including Unsecured Business Credit Cards and the Upgrade Cash Rewards Visa(r). Which one is right? You'll find out in this article. We will explain what you need to know about credit cards. We'll also talk about what to expect from each credit card type. The best credit cards for fair credit can help you improve your credit score.
Unsecured business credit card
Although it can be difficult to secure an unsecured business credit line, it can be possible to get approved. This type of card is reported to credit bureaus as payment activity. Some report to business credit bureaus only, while others report to personal credit bureaus. You can avoid this by keeping an eye on how your credit score is changing every quarter. Once your credit score has improved, you can apply to an unsecured card for business credit.
Many unsecured business credit cards offer rewards programs and higher spending limits. These cards are easy to get if your credit is good, but can be easily abused, especially when they have higher spending limits. Cardholders may overspend because of the higher interest rates. A secured business credit card is a better option if you are worried about being tempted to spend more money than you earn. Your business will last a lifetime if you keep your spending under control.
Capital One Platinum Card Credit Card
Capital One Platinum Credit card may be right for your needs if you have a low credit score. This card allows you to build credit history and has no annual fee or security deposit. There is no annual fee. This card makes it easy to manage your finances and build a credit history. Within six months, you may be eligible for a larger credit line. If you have a strong credit history and wish to improve it, this credit card might be the best option for you.
This basic unsecured card is free of annual fees and has a higher credit line after six monthly. This makes it a viable alternative to secured or unsecured cards. The only drawback is that it lacks a rewards program and has a high interest rate. Capital One Platinum Credit Card is for people with fair credit. It's designed to allow those with less than perfect credit to start building a credit history. To be approved, your FICO credit score must be at least 580. However, if your credit score is between 580 and 620, you can be approved.
Petal 2 card
Petal 2 creditcard offers a 1% cashback rate on all purchases. After six or twelve consecutive on-time monthly payments, the rate will rise to 1.25%. Purchases made at select merchants can earn you ten percent. Petal2 card is unsecure. You don't have to deposit any money in order to open an account. There are some drawbacks to the card, including a high annual percentage rate.
Petal is intended for people with limited credit histories. This means that if you have made a few missed payments in your past, your preapproval decision may be affected. You can still apply for a Petal 2 Card. For people with poor credit, there are many other options. You don't need to choose the Petal 2 credit line if you have bad credit.
Upgrade Cash Rewards Visa(r)
The Upgrade Cash Reward Visa is a credit line that rewards consumers who pay their debts on time. This card allows people with excellent credit to earn 1.5% cashback for every purchase. It doesn't require any security deposit or an annual fee. Additionally, the system reports on time payments to all three major credit reporting agencies. This may be too steep for consumers with low credit scores. Applicants with good to excellent credit can opt for other options that offer 0% intro APR and lower APRs.
The Upgrade Triple Cash Rewards Visa is available with a starting credit limit of $500 or more. The credit card will have this credit limit, but it can be increased based on your credit score and income. The credit limit can be used to make large purchases and then paid off over time. However, you cannot use this credit card for cash advances. This credit card is only available to those who have a stable income.