Bad credit or nothing at all? This is the credit card for you!

Checking Credit Card

If you’re that type of person with bad credit or no credit at all, you can actually have a hard time deciding upon a credit card, since your options are very limited. However, you shouldn’t quit, since there are actually some very good options you can consider.

According to CNBC, a team of experts worked alongside WalletHub and found the perfect credit cards for those who are currently dealing with bad credit. Specifically, we’re talking about the Discover It Secured Credit Card.

No fees and quite a big amount of perks

Besides having no annual fee, the card offers 2 percent cash back at restaurants, as well as gas stations up to $1,000. And this is not everything since users can also get 1 percent cash back on any other type of purchases. To top it up, the total amount you earner is doubled at the end of the year.

However, the fact that you’re dealing with a shady credit has its disadvantages. Before starting to use it, a minimum deposit of $200 is required, in order to help establish credit. However, the entire amount will be refunded when you make the transition to an unsecured line of credit. But this will happen solely if you take good care of your account.

The Discover It Secured Credit card is actually a good option since the deposit matches the line of the credit, so it takes away the risk for the issuer. And it also helps the user to handle credit properly.

Don’t consider it your average card

In most cases, secured credit cards have a credit line matching the amount you initially put down as a security deposit. Still, it won’t function like a debit card and the one we’re talking about today is no exception either. Your money won’t be deducted automatically from an account if you decide to pay by it, but you still have to make monthly payments.

Even more, let’s not forget about the possibility of falling into the red: “You can still accumulate debt if you make purchases and fail to pay your bills on time,” says Credit Karma. “The amount you owe can quickly grow beyond the deposit you made, thanks to interest.”

Finally, if you manage to pay off your bill in full monthly, a card like the Discover It Secured Credit Card can significantly help you build credit and make the transition to a traditional card easier and faster.

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