You can get credit cards with a 630 credit score in many forms. An unsecured credit card can be obtained, as well as a store or business credit card. You should know that your credit score plays a significant role in choosing the right card.
Unsecured Credit Cards
If you have a credit score of over 630, unsecured credit cards can be applied for with a high limit credit. These cards may have lower interest rates, and offer higher rewards. Many unsecured cards offer introductory deals that include cash back, bonus miles, points, and/or bonus miles. In addition, they may also offer a 0 percent APR period during which you can make purchases without paying interest. Unsecured credit cards, which don't require an initial period, can still be a great option.
Although many unsecured credit cards require security deposits, those with the highest credit scores (630 or higher) don't have to be. Unsecured credit cards don't require any security deposit. In fact, they can require as little as $200. For those with lower credit scores, they are an attractive choice.
Store cards
There are several different credit cards available for people with a credit score of 630 or lower. Surge Mastercard, by example, allows consumers to rebuild their credit rating by reporting on-time payment to the credit agencies. Continental Finance issued this card. It provides credit lines from $300 to $1000. After six months, you can get it up to $2,000 if you are responsible. This card also comes with a refundable security deposit of $99 or $200.
Another option is the Credit One Bank Visa for Rebuilding Credit. This credit card offers a rewards policy, whereby you can earn 1% cashback on qualifying purchases. This card is easy to qualify for, and there is a pre-qualification procedure that will help you determine if you're eligible without running your credit report.
Secured credit cards
Secured credit cards offer a great alternative for people with low credit scores. These cards do not have an annual fee. Balance transfers and cash advances are subject to fees. Late payment and returned payment charges of up to $40 may also be applicable. Secured credit cards are a great choice for anyone who wants to begin building their credit history, or rebuild their credit rating.
Secured cards, unlike prepaid debit cards can report your activity to major credit bureaus. This helps you build your credit history and higher score. Many secured card issuers offer the option to pay your account in regular installments. This allows people with poor credit scores to get a credit card.
Business credit cards
If you're looking to improve your business credit score, you may want to consider applying for a business credit card. These cards can help you establish a credit history for your business and get the best rates on business loans. You can also separate your business expenses from personal expenses with a card that offers rewards. The drawback to business credit cards is the higher fees and interest rates that are charged than personal cards. Keep in mind, however, that business credit cards can have a negative impact on your credit score.
It is essential to carefully read all terms and conditions when applying for a credit card for business. Companies only approve applicants with great credit. Before applying, it is essential to be aware of the minimum credit score.
Cash back credit card
You may be able to find credit cards that offer cash back rewards and lower APRs if your credit score is less than 630. You can also apply to a secured creditcard such as Surge Mastercard. It will report your payments to the credit agencies. After six months of responsible usage, this card can offer you a $2,000 credit limit. You will also get a free credit score analysis in your monthly electronic statement.
Discover it card, which offers cash back credit cards to those with low credit scores, is another option. This card can earn you 2% cash back on purchases at restaurants and gas stations, and it also has a zero percent annual fee. You can use it to make purchases at Amazon and Uber, where you will earn 1% cashback.