3 Cards that will Help You Boost Credit Scores

Almost all of us makes mistakes with our credit especially if we’ve missed a payment or two. However, when this becomes a habit, this will, no doubt, have a negative effect on your credit score. If you are one of these people, then it is important to be realistic about the time taken to build your credit score – it’s going to take a while. One of the ways by which you can resume the credit score building process is by using credit cards that are known to boost credit. So, here are three credit cards that you can opt for:

#1: CitiSecured MasterCard
Instead of using a standard savings account, Citi invests the money in a certificate of deposit savings account where you will benefit from a 1.01 % annual percentage yield. Apart from this, you’ll have to pay $29 as annual fees and visit a bank branch to be approved for a card such as this one. It’s also not adviable to have a balance on this card as you’ll have to pay interest based on a variable 18.24% APR.

#2: Capital One Secured MasterCard
Apart from a low annual fee of $29, one will have to watch their spending as the interest rate is about 22.9%. Another benefit is that the bank offers its customers a credit monitoring tool to keep track of their scores while also giving them 80 days to put down the $200 necessary deposit.

#3: US Bank Secured Visa Card
While this card offers an annual fee of $35, it is also one of the few cards in this category to offer customers an unsecured card if your track record of spending has been kept in check. In fact, within 12 months’ time, some people will be able to obtain one of these low-interest cards. However, you’ll incur an interest of 20.99% on puchases and 23.99% on cash advances.