Limited Credit Credit Cards

Unsecured Credit Cards - These cards are designed for people who have "limited credit."Meaning that you have had some sort of credit in the past, good or bad. Also, let's say that you have very little credit but you have a good job that you have been on for a while and you have a well established residence history, these factors will definitely help you with the approval process. These cards will help you build and establish a good credit history, providing that you pay your payments as scheduled.

Prepaid Debit Cards - If you just need a card to allow you utilize credit card services, prepaid cards are great. Most prepaid cards are fee ridden, but each of them have a different fee schedule. Be sure to look at each card's fee schedule to which one best suits your lifestyle. Some cards say that they report to the bureaus and will help you build credit, however we are a bit skeptical about this. Read our article on prepaid cards for a better idea of what we mean.

Secured Credit Cards - Secured credit cards are the sure-fire way to get approved for a credit card and jump-start your credit. Secured credit cards usually have lower rates and fees than the unsecured credit rebuilding cards and you are almost guaranteed approval. Secured cards basically act like a bank account. When you deposit money into the bank account your credit limit is raised. However, unlike prepaid cards, these cards are not designed for you to frequently add money and spend money. Most secured cards will hold your deposits for your card and only return the money when you close the account.

Student Credit Cards - These cards offer college students with some or no established credit a chance to get their first credit card. Some student credit cards are tougher to qualify for than others. However, if you have a job and at least one good credit source you should qualify for a student card. As of the new credit card laws, students must now prove enough income to qualify for the card or they must have a cosigner.