Consumers with low credit scores have a very hard time finding a financial institution to help them rebuild their credit by approving them for a credit card. Many consumers apply at banks that only cater to a certain score range. Usually, consumers with low credit scores require secured credit cards in which a deposit is needed as collateral for the amount borrowed. The top 3 banks that are always looking to help consumers with low scores are as follows.
1. Capital One – This is by far the best bank I have seen in North America. I wish they could pay me as much as I promote Capital One. I say that they are the best bank in North America because they are the only bank that is willing to give consumers with low credit scores access to credit cards with their company. Capital One also offers credit cards to consumers with high scores above 720 and they are very competitive with the likes of Discover, Chase, American Express, and etc. Capital One offers a secured credit card with tier levels that require a deposit but depending on the consumers tier level, they may qualify for a lower deposit amount with higher credit limit. Capital One also allows for the consumer to add up to 5 authorized users at no additional charge! Not to mention, Capital One also finances auto loans, refinance auto loans, and mortgage loans as well.
2. Credit One Bank – Credit One Bank offers a great secured card as well. This bank requires a deposit as well and you can also add more than the minimum deposit needed to obtain a higher credit limit. Consumers can add authorized users to their account but it will require a one-time fee. You can design the card but it will require a fee.
3. First Premier Bank – First Premier Bank is very similar to Credit One Bank. This bank would be a great addition if the consumers score is starting to increase but they are not seeing any other credit card offers from more recognizable banks. Adding this credit card as a second credit card would be a great idea to help increase a credit score. Keep in mind, the fees are much more than most banks so be sure to read all documents before and after the agreement is made to receive the credit card.
As you see, there are many companies out there willing to help consumers rebuild their credit scores by giving them a second chance when most banks would not do so. Consumers should always read the credit card agreements before and after the credit card is received to make sure they are aware of all applicable fees that await them. Simply Professional Credit Consultation is not affiliated with any of the companies mentioned in this post. For more information on how to improve your credit score, please visit www.gosimplypro.com or email us at firstname.lastname@example.org.