No matter your age, situation, gender, marital status, and whether you have bad credit, good credit, no credit, or perfect credit, there’ll be a time in your life when you need a credit card. But don’t be scared; there are a lot of women out there who have been burnt by a divorce, bankruptcy, debt, or other means of financial devastation, so believe it when you hear that your pain and suffering has been felt.
Both secured and unsecured major credit cards offer programs for those with less than perfect credit. A secured program is when the bank opens an interest bearing savings account in your name and then grants your credit limit against the funds that you have deposited. If your account has $500 in it, you will get $500 in credit. If you don’t make the payment, the bank takes the money out of your account to make the account current.
On the other hand, an unsecured card doesn’t require a savings account, but will usually come with very high interest rates and a variety of other fees. Be sure to read the disclosure pages before accepting any credit card offer.
Now that you are familiar with the terms, here are our top 5 credit cards for women with less than perfect credit:
5. First Premier Unsecured Visa or Mastercard - Available in both Mastercard and Visa, First Premier offers unsecured lines of credit with low monthly payments to fit nicely into your budget. With a variety of credit lines and status’ to fit your needs (and the annual fees to match), along with some of the lowest interest rates out there, First Premier is both first and premier in the less-than-perfect credit card industry.
4. Centennial Unsecured Visa or Mastercard - Low interest rates are coupled with below average fees to make this credit card one worth applying for.
3. Orchard Bank Secured Visa or Mastercard - Orchard Bank covers all possible angles with its secured credit card program. Rebuilding your credit has never been easier! With your deposit into an interest bearing savings account, your credit will get as good as you want it to; it’s all up to you.
2. Orchard Bank Unsecured Major Credit Card - Orchard Bank is not your typical credit card lender, because they offer a wide variety of programs for all credit types. They will work with you to find your ideal credit card. Low fees and a decent interest rate are just a few of the amenities of carrying an Orchard Bank card in your wallet.
1. Aspire Visa Unsecured Credit Card - Aspire does just what its name says-it Aspires! Low monthly payments, low (or sometimes even no) annual fees combined with a higher than average credit line for initial cardholders make the Aspire Mastercard or Visa the card for those with less than perfect credit.
Any credit status or offer for credit will come with various rates and fees, usually a direct result of your credit score. Be sure to read the fine print before accepting any offer of credit from any financial institution, no matter how reputable of a company they are.
