Credit repair cards can help someone with a low credit score re-establish a positive credit history, but choosing the right secured credit card is critical.

When choosing credit repair cards to establish a positive credit history, there are several factors to take into consideration. Always compare the fees associated with each card and the interest rate, as well as how frequently the card reports to the major credit reporting agencies. If your credit score is particularly poor, consider credit repair cards that do not consider your credit rating during the application process.

Credit Card Fees

Many secured credit cards charge annual fees and/or account setup fees in addition to interest on any balance carried on the card. One credit repair card that has no annual fee is the card from Public Savings Bank:

  • Public Savings Bank – This secured credit card has no annual fee, but it costs $75.00 to apply.

Although other secured credit cards have annual fees from $24.00 to over a hundred dollars per year, many of the cards require no setup fee. Cards with no application or setup fee include:

  • Capital One Secured Mastercard – This card has a $24.00 annual fee, and nearly 20% interest, but no set-up fees.

  • Platinum Zero Secured Visa – This card has no setup fees, and charges no interest, but costs a flat fee of $9.95 per month for “Monthly Maintenance.”

Reporting to Experian, Equifax & TransUnion

Applying for a new credit card to repair your credit rating only works when the creditor reports frequently to the major reporting agencies: Experian, Equifax and TransUnion. A revolving account that is paid in a timely fashion can really help you re-establish a good credit history, but only if the reporting agencies find out that you are being responsible with your credit. Always check to make sure the status of the card will be reported to all three credit bureaus before applying for a credit repair card.

If You Have Really Bad Credit

What if you have really bad credit? There are still some cards that will accept your application. These cards base acceptance on income and a deposit, and do not even check your credit score as part of the application process. Cards for people with really bad credit include the Public Savings Bank Secured First Visa and the First Premier Bank Secured Card.

Credit Repair Credit Cards

For quick credit repair, credit cards can make all the difference. Choose a card with low fees that reports frequently to all three credit bureaus to maximize your results. For more information about fixing your credit score, read:

Use credit repair cards to help fix your credit score. Secured credit cards, available from most banks, are a great way to establish a new credit history.

Want to repair your own credit rating? Learn how credit reports and scores work, and try these three simple credit fixes to boost your credit score quickly.

Absolutely free credit reports are advertised everywhere: “Get your instant credit report online here!” Are any of these offers truly free? Learn how to tell.

Want to know how to get a free credit report from Equifax? Learn about getting a free copy of your debt history without supplying a credit card number.

If you don’t reduce credit card debt by making more than the minimum payments and prioritizing creditors, you will lower your chances of getting out of credit card debt.

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