People in the US have over $800 billion in outstanding revolving credit card debts and most of it is on the credit card accounts of those who have bad credits. Many people are paying down their debt with credit cards because they are in a way more advantageous than debit cards. So, to those people who are confused about their options – if you have a bad credit and are serious about staying out of financial turmoil, it is essential to rebuild your credit by choosing a card with the best terms and interest rates, and most of all, with a reasonable cash back and perks. This article will show you the best cash back credit cards and provide tips on how to obtain them.
Capital One Mastercard Credit Card
Many people with bad credit are denied regular credit cards. If you decide you really need a credit card, then a secured Capital One Mastercard credit card might be a good option. You deposit a sum of money that typically runs around $50 to $200 and are given a credit card with a reasonable credit limit. Other secured credit cards can be expensive, but with this card, you only pay an annual fee of $29. The cash back deals depend on the type of merchandise – more if spent on fuel or travel and less for retail stores. And if you are short on cash, you can get it quickly and repay it in 80 days from the date of signup.
USAA Secured Credit Card
USAA’s cash back offers depend on the credit card usage. If you are someone who use credit card for all your purchases, you are sure to get most out of this cash back program, with rebates up to 1.25%. For the rest of them, it is just 0.45%. So in a nutshell, you will earn 0.45% for an annual purchase of $5000, 1% for $17,000 and 1.25% for net purchase of more than $17000.
US Bank Harley-Davidson Visa Secured
This credit card is the best choice for anyone trying to repair their credit history. There is no annual fee, and the best part is, you get 1% cash back on every dollar spent. The credit limit solely depends on the amount of security deposit and ranges anywhere from $300 to $5000. After 12 months of successful usage, you are eligible for an unsecured credit card. Because this institution operate under different rules from banks, their fees are lower than bank fees.
There are certain websites where you can find a bank, credit union or financial institution that offers credit cards to people with bad credits. is one of them. To find more about the cash back reward programs from these banks and unions, call or do some surfing on the internet. Always be careful searching for secured credit cards because some banks charge hefty fees in addition to an annual fee. Also, be aware of secured credit cards that can only be used to purchase merchandise from the card issuer’s catalog in order to be qualified for cash back.