Horrible Credit Unsecured Credit Cards

Allison Martin
Unsecured credit cards

Having bad credit does not necessarily prevent consumers from obtaining unsecured credit cards. Though they often come with more stipulations, fees and higher interest rates than other credit cards, there are a few options available.

TOTAL Visa

TOTAL Visa is an unsecured credit card caters to individuals with poor credit scores. It is issued by Mid America Bank & Trust Company.

Benefits

Since this card caters specifically to consumers with bad credit, approval is more likely than it would be with many other cards. Card activity is also reported regularly to the credit bureaus, which can help increase your credit score with responsible use.

This card features no penalty APR, although a late fee is charged on payments that are not received by the due date.

Drawbacks

TOTAL Visa cardholders are subject to an exorbitant APR of 29.99 percent for purchases and cash advances. Furthermore, credit card expert Beverly Harzog does not recommend this card and cites the excessive fees in her review as one of the primary reasons why. Fees that come along with this card include, but are not limited to:

  • $89 processing fee to activate the account

  • Annual fee of $75 for the first year, $48 for all subsequent years

  • Monthly maintenance fee of $6.25 beginning the second year

How to Apply

To apply for the TOTAL Visa Unsecured Credit Card, complete the online application. You should receive a response in as little as one minute.

Surge MasterCard

The Surge MasterCard is issued by Celtic Bank. It offers customized credit card solutions to consumers with less than favorable credit, some of which are unsecured.

Benefits

If you apply for a Surge card, you will receive an offer tailored to fit your unique financial situation within a few seconds. It can be unsecured, partially secured or completely secured. In addition, there is no application fee and the grace period is 25 days.

Drawbacks

Although the application fee is waived, the card does come with a $125 annual fee for the first year, $96 for following years, and a $10 monthly maintenance fee after the first year.

Because of the exorbitant APR of 30.24 percent and excessive fees, Doctor of Credit recommends that you explore secured options if you are trying to rebuild your credit.

How to Apply

To apply for the Surge Card by MasterCard, complete an online application or call 866-513-4598.

Credit One Bank Platinum Visa

The Credit One Bank Platinum Visa is designed for consumers who are looking to rebuild their credit.

Benefits

Individuals can get pre-screened for a credit line up to $1,500 with no impact on their credit score. However, an inquiry will be reflected on your credit report should you decide to submit a formal application.

This card reports to all three credit bureaus, so responsible account management can positively impact your credit rating. As a cardholder, you will also receive a free credit score update directly on your online dashboard.

Drawbacks

The annual fee ranges from $0 to $75 in the first year, and can be as much as $99 in subsequent years. Furthermore, consumers are assessed interest on transactions as soon as they post if their card does not have a grace period.

According to a review on her website, Beverly Harzog does not recommend this card at all. She indicates that it can be a major burden to those trying to improve their credit since they will probably incur an excessive amount of interest with this card.

How to Apply

To apply for the Credit One Bank Platinum Visa, submit an online application. Upon submission, you will receive a response notifying you of your pre-qualification status. If you wish to continue with the application, you will be redirected to a more detailed form.

You may receive additional offers if you fail to qualify for this card or are a better fit for other products from Credit One Bank.

Milestone Gold MasterCard

The Milestone Gold MasterCard caters to consumers with blemished credit. It is issued by Genesis Bankcard Services Inc.

Benefits

Unlike most credit card products, the Milestone Gold MasterCard considers applicants who have previously applied for bankruptcy. For this reason, this card was ranked as one of the best credit cards for bad credit by the Simple Dollar.

You can apply for consideration with no impact to your credit score and find out if you are approved very quickly. Account activity is reported to the three major credit bureaus, so timely payments can improve your credit rating.

Drawbacks

Mighty percent

Unfortunately, cardholders are subject to an exorbitant APR of 23.9 percent and annual fee of $35, $59 or $75 for the first year (depending on creditworthiness), then $99 per year afterwards,. Furthermore, a penalty APR of 29.9 percent is applied indefinitely should the account become delinquent. You will also be assessed an over-the-limit fee of $35 if your outstanding balance exceeds the credit limit.

How to Apply

To apply for the Milestone Gold MasterCard, fill out the online application.

Indigo Platinum MasterCard

Issued by Celtic Bank, the Indigo Platinum MasterCard is designed for individuals who are looking to rebuild their credit.

Benefits

If you keep your balance low and make timely payments, this card can give your credit score a boost since payment activity is reported to the three major credit bureaus. You can also choose from a variety of card designs.

Drawbacks

Although some cardholders may qualify for a $0 annual fee, others are assessed a fee of $59 or $79 for the first year (depending on credit), then $99 annually for following years. The card is also accompanied by a hefty APR of 23.9 percent, and a penalty APR of 29.9 percent that cannot be reversed if you make a late payment.

Unfortunately, consumers can only be approved for a credit limit up to $300, which is a major drawback to this card, notes a recent review from AskMrCreditCard.com.

How to Apply

To get pre-qualified for an Indigo Platinum MasterCard, complete the online application form. Your credit will not be impacted and you will receive a response in 60 seconds or less.

Compare Your Options

TOTAL Visa Unsecured Credit Card Surge by MasterCard Credit One Bank Platinum Visa for Rebuilding Credit Milestone Gold MasterCard Indigo Platinum MasterCard
APR 29.99% 30.24% 15.65% to 24.15% 23.90% 23.9%
Grace Period 21 days 25 days up to 24 days 25 days 25 days
Activation Fee $89 not applicable not applicable not applicable not applicable
Annual Fee $75 (first year), $48 (subsequent years) $125 (first year), $96 (subsequent years) $0 to $75 (first year), $0 to $99 (subsequent years) $35, $59 or $75 (first year), $99 (subsequent years) $0, $59 or $75 (first year), $99 (subsequent years)
Monthly Maintenance Fee $6.25 (waived in the first year) $10 (waived in the first year) not applicable n/a n/a
Rewards not applicable not applicable not applicable not applicable not applicable

Choosing a Card That's Right for You

Before selecting a credit card, carefully examine the terms and conditions to ensure that your needs are met. If you are unable to obtain an unsecured account that works for you, explore secured credit card options since many of those creditors also report account activity to all three credit reporting agencies.

Horrible Credit Unsecured Credit Cards