You can get a card that fits your needs if you have good credit. There are many options to choose from, such as Unsecured business credit cards or the Upgrade cash Rewards Visa(r). But which one is right for you? Continue reading to learn more. We will explain what you need to know about credit cards. We'll also go over what to expect from each card type. The best credit card options for fair credit can help you improve credit scores.
Unsecured business credit card
While securing an unsecured business credit card can be difficult, getting approved for one can be a lot easier. These types of transactions are reported to credit bureaus. Some report to the business credit bureaus and others to the personal credit bureaus. Keep an eye on your credit score each quarter to prevent this. Once your credit score has improved, you can apply to an unsecured card for business credit.
Many unsecured business credit card offer higher spending limits and reward programs. While they are generally easier to get if you have great credit, they can still be misused, especially if there is a higher limit. The higher interest rates and rewards programs can lead cardholders to overspend. A secured business credit card is a better option if you are worried about being tempted to spend more money than you earn. If you are responsible with your spending, you will be in business for many years.
Capital One Platinum Credit Card
Capital One Platinum Credit card may be right for your needs if you have a low credit score. This card has no annual fees or security deposits, so you can build credit history. It is also no annual fee, making it easy to manage your finances while building a credit history. Within six months, you may be eligible for a larger credit line. If you have good credit and want to improve your credit score, this credit line may be right for you.
This basic unsecured credit card does not have an annual fee. You can also get a greater credit line after six-months, which makes it an excellent alternative to secured loans. However, it does not offer a rewards program or 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. As a result, you may need to have a FICO credit score of 580 or higher to be approved. If your credit score falls between 580-620, however, you may be approved.
Petal 2 card
The Petal 2 credit card offers a 1% cash back rate on all purchases. After six or 12 consecutive monthly on-time payments, your rate increases to 1.25%. Additional 10% can be added for purchases made at select merchants. Petal2 cards are unsecured. This means that you don't need to make any deposits to open an account. The card has a few limitations, such as a high APR.
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. But, it shouldn't stop anyone from applying for a Petal 2 credit card. People with bad credit have other options. The Petal 2 credit card is the best option for you, if your credit score is not good. However, you should still consider other options.
Upgrade Cash Rewards Visa(r)
The Upgrade Cash Rewards Visa credit card rewards customers who make timely payments on their debt. Consumers with excellent credit are eligible to receive 1.5% cash back for all purchases. There is no annual fee and security deposit. It also reports on all payments to the three major credit bureaus. 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 Reward Visa comes with a $500 credit limit. This credit card has a guaranteed credit limit of $500. However, your income and credit score can affect the amount. You can use your credit limit to purchase large items and then pay it off in installments. This credit card cannot be used to make cash advances. This credit card is only available to those who have a stable income.