Whenever you have in front of you a few options in secured credit cards for bad credit that tend to create chaos in your life, begin by assessing each one of them for suitability. This is essential before you make a choice. Remember, each credit card user / holder is going to have a different lifestyle and distinct personality. This will result in completely different purchase behaviors and attitudes. The way we treat money will dictate how we end up using our credit cards.
We have with us a few options such as the First Digital Card, the Fit MasterCard Credit Card, Reflex MasterCard Credit Card and the Regions Credit Card for bad credit. All these financial instruments will have different features and pros and cons. Before you make the final choice, let us have a quick look at what people have to say about these credit cards for poor credit.
First Digital Credit Card Reviews
This is an unsecured MasterCard credit card which is specifically designed to help people with bad credit.
- You may get approved for this credit card very easily even if you have been declined elsewhere.
- Perfect credit is not required for approval regardless of the fact whether you have been a credit card user in the past or not.
- You can receive your credit card even more quickly if you expedite the process which will entail an additional fee.
- This credit card has a very easy and secure online application process and it should take you practically just a few minutes to apply for it.
- The Synovus Bank requires you to have a checking account in order to qualify for this credit card.
The Fit MasterCard Credit Card Comes With Its Share Of Pros And Cons
- There is a decent starting credit limit of $400 with the Fit MasterCard Credit Card. This can be increased after a period of probably six months to a year.
- You get free access to your Vantage 3.0 score from TransUnion. This is an additional advantage of this credit card and is becoming gradually more and more common for several financial instruments used for poor credit.
- With the help of a reliable mobile app you can access your account details from anywhere.
- There is a onetime processing fee and a relatively higher annual percentage rate that is attached to this credit card.
- You are also required to have a checking account to be able to qualify for this financial instrument.
There Is A Fee At Every Turn And You Cannot Deny This
An annual fee of $75 and a $99 fee just to maintain your account were apparently not enough. Although the Reflex MasterCard credit card does present a very reliable credit building option, the unnecessary fees and charges attached to it do tend to discourage people from getting this financial instrument.
Relatively Higher Credit Limit
If you have been approved for this credit card with a minimum credit limit of $300, you may still be able to increase it after a 12 month period. There will be a review in such a situation and mostly the majority of credit card holders are able to increase their credit limit significantly after this assessment.
Regions Secured Credit Card
- This credit card has a lot of interesting and attractive features such as:
- There is no foreign transaction fee / charge
- You are only required to pay a $29 annual fee
- Your credit limit is equal to the balance in your savings account
- The chip enabled technology makes it easier for you to use your credit card without worrying about your safety
Credit cards for people with bad credit have been in the market for a long time. It is too bad that most of us do not understand how to use them wisely. It is time we took this financial instrument seriously and use it for the purpose it is meant for.
