Dealing with debt is a reality for many Americans. Statistics show that in 2018, the average U.S. household had $8,600 in credit card debt. Many people need to realize that improving your credit score has a lot to do with how much credit you use. If you are paying down your debt more quickly and lowering your utilization while keeping your credit score high, you will likely see a positive impact on your score over time.
Having a good credit score is like having a backstage pass to life's exclusive events. It can get you approved for loans, mortgages, rentals, and even jobs! But let's face it; not all credit cards are cut from the same cloth. If you want to boost your credit score, choose your credit card wisely. So, let's unlock the secrets of using the right credit card to upgrade your financial VIP status!
A card with a low-interest rate:
Opt for a low-interest rate credit card - this is crucial while selecting the best credit card for poor credit. Although paying off the balance in full every month is ideal, it may only sometimes be feasible. If you’re low on liquidity in a particular month, a credit card with a high-interest rate could rapidly spiral your balance out of control, leading to missed payments and a decline in your credit score. Therefore, selecting a card with a low APR (Annual Percentage Rate) is imperative to minimize your interest charges.
A card with low or zero annual fees:
When searching for the best credit card for poor credit, seek out one that does not charge an annual fee. Certain credit cards have an annual fee, which may diminish the rewards and benefits you receive from using the card. Opting for a card with no annual fee frees you from this additional expense, enabling you to concentrate on paying off your balance entirely every month.
A card you use responsibly:
To enhance your credit score and get the best credit card for poor credit, exercising responsible usage of your credit card is essential. This implies that you should only charge expenses you can afford to pay back entirely at the end of each month, make timely payments, and strive to maintain your balance as low as possible. It is advisable to keep your balance under 30% of your credit limit, as utilizing a significant portion of your available credit can adversely affect your credit score. By responsibly managing your credit card usage, you can establish a positive credit history, which can benefit you in the long run.
A card that comes with incredible rewards:
When selecting the best credit card for poor credit, picking one that provides rewards that align with your lifestyle is crucial. Many credit cards offer rewards programs, such as cashback, points, or miles, which can be an excellent way to earn benefits for your expenses. However, not all rewards programs are identical, making it necessary to choose a card that offers rewards compatible with your lifestyle. For instance, if you frequently travel, a card that offers travel rewards may be the ideal option. On the other hand, if you prefer cashback, search for a card that provides more significant cashback rewards in categories where you spend the most, such as gas or groceries. By selecting a card that matches your spending habits and preferences, you can maximize your rewards and enjoy the benefits of your credit card.
A card that is secured in nature:
Suppose you are starting to establish your credit history or have a poor credit score. In that case, the best credit card for poor credit is a suitable secured card. Unlike unsecured credit cards, a secured credit card requires an initial deposit, which is collateral for the credit limit provided. By minimizing the risk for the credit card issuer, this card can enable you to build your credit score through responsible usage gradually. As you make timely payments and utilize your secured credit card responsibly, you can demonstrate your creditworthiness to potential lenders and improve your credit score over time.
Get Azpire - the best of all worlds!
All of the above sounds too good to be true, right? A card that has no annual fee or joining fee, a card that has a low-interest rate, a card where you ensure zero late payments, and a card that lets you swipe independently without having to worry about paying it all back at the end of the month! Yes, while all this sounds too good to be true, there is a card that lets you do all of this and more - The Zolve Azpire - Credit Builder Card. It comes with no joining, annual or hidden fees, it lets you build your credit score with your own money, lets you earn amazing rewards of up to 10% on your spending, and works at your will. It’s a card that is a mix of debit and credit and hence does not let your overspend or miss a payment, ever! It truly is the best credit card for poor or low credit.
On top of this, you are entitled to various other services like international money transfers, instant payments to friends and family, pet, renter’s and health insurance, and auto loans.
Why wait? Apply for a Zolve Azpire - Credit Builder Card today and get started on your credit-building journey!
In conclusion, improving your credit score with the right credit card requires careful consideration and responsible use. By choosing a card with a low-interest rate and no annual fee, using your credit card responsibly, choosing a card with rewards that fit your lifestyle, and considering a secured credit card if necessary, you can build your credit score over time and enjoy the benefits of good credit.
The Azpire product is not supported by The Bank of Missouri.