Best credit cards for people trying to build credit

Discussion in 'Loans for People on Benefits' started by Tiplady, Nov 4, 2015.

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  1. Tiplady

    Tiplady Newbie

    What are the best credit cards for people trying to build credit? If you’re a young college student or you’ve just gone through a bankruptcy you should try to build or rebuild your credit as soon as possible. There are many credit cards that you can use to improve your history and score which will help you get the best rates when it comes to borrowing money. I have included some credit cards you can consider near the end of the article.

    Credit Cards for College Students Trying to Build Credit

    If you’ve just started college and are young and want a credit building credit card for students then you should consider applying for a students bank account first. Once you have the students account you need to prove that you can manage your money properly.

    If you do have a job then try to spend less than you earn and save a little every month. By consecutively saving money and building your savings account you're showing the banks you can manage money. After 6 months you can apply for low-interest credit cards for people with good credit and get a very low-interest rate.

    Credit Cards for Bankrupt People Trying to Build Credit

    If you've just gone through a bankruptcy then the chances of getting banks and building societies to lend you money will be very hard. You have to prove that you can manage your money and have learnt your lesson. Before you apply try to consecutively save money for 12 months and then apply for a prepaid visa or MasterCard.

    Getting a prepaid visa and MasterCard can be quite easy after you've demonstrated that you can save for 12 months. Use the prepaid facility all the time and make sure you fill it up before you spend. The more successful transactions you have the better your history and score will become and eventually over a period of 24 months you can apply for good credit cards to start building real credit.

    Prepaid Credit Cards for People Trying to Build Credit

    Visa and MasterCard offer prepaid credit cards to people trying to build credit. You have to pre pay into the visa and MasterCard before you spend any money. What banks and lending companies are looking for is reliability and better money management. If they see that you always top up more than you spend and always have a surplus of more than 20% this will do wonders for your financial credentials.

    Best Credit Card Company to Build Credit

    Credit building credit cards are a great way to open up the possibilities to better financial products. With a good track record and history you can get personal loans, mortgages and premium bank accounts at very competitive interest rates. By taking the time to rebuild your credit could save you thousands in the future.

    Apply for a Credit Card to Build Your Credit (Updated Frequently)

    Here is a list of credit cards that you can to start building your credit. You should decide which credit card is best for you by taking factors such as charges, fees and interest rates into account.

    Capital One Classic Extra
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    This card has a 34.9% APR
    No annual fee.
    56 days interest free on new purchases if you pay your balance in full.

    Capital One Balance Card
    [​IMG]

    This comes with a 34.9% APR
    There's a 0% balance
    You get a 60 second response if you are accepted

    Aqua Classic
    [​IMG]

    Low initial credit limit
    This comes with a 29.7% APR
    If you pay your balance in full as soon as you recieve your bill you don't pay interest

    Aquis Visa Card
    [​IMG]

    Comes with a 29.8% APR
    Great for rebuilding credit
    High potential limit increase

    Barclaycard Initial
    [​IMG]

    Comes with a 29.9%
    Good for building credit initially
    Suitable if you have CCJ more than a year ago

    Aqua Advance
    [​IMG]

    Comes with a 34.9% APR
    Low initial limit
    APR Eventually reduces to 19.9%APR

    Capital Once Classic
    [​IMG]

    34.9% APR
    Low limit to start with
    You get a response in 60 seconds

    Aqua Classic
    [​IMG]

    35.9% APR
    Very low limit to build credit

    Vanquis Bank Credit Card
    [​IMG]

    39.9% APR
    Low initial limit
    You can manage your account online
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