Louis asked in Business & FinanceCredit · 8 years ago

What is the best credit card for a score of 588?

I have a credit score of 588 ( equals to a low D or poor credit)

I want to know which bank or card wolud accept me n let me build back my credit

I tried many student credit cards and they decline me

Any ideas...thank u

4 Answers

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  • Merry
    Lv 7
    8 years ago
    Favorite Answer

    Check out http://www.bankrate.com/credit-cards.aspx to compare cards. You can looks up cards for people with bad credit. It's very likely that you'll only be able to get a card with high interest rate and an annual fee. As long as you pay your balance in full each month, it won't matter what your interest rate is anyway. If you pay the balance in full, you don't pay any interest. However; the annual fee will cost you each year.

    Another option is to check with your bank or credit union about getting a secured card through them. For this type of card, you put a certain amount of money into an account and they place a hold on it and then issue you a card with that same amount as the limit.

    For example, if you deposit $500, you would get a card with a $500 limit. However; for the best credit score, you don't want to use more than 30% of your available credit at any one time. In this case, that would be $150. If you have $150 on there, you should pay it down before charging more. Also, be sure to pay the statement balance in full each month so that you're not charged interest.

    A secured card is a real credit card that will help you build your credit rating. After you've used this card for a year or two, you could apply for a non-secured card.

    ADDITIONAL INFO: By the way, a pre-paid credit card will allow you to shop, make hotel reservations, rent a car, etc., but it will not help to build your credit rating - as they don't report to the credit bureaus. So, if you don't care about improving your credit score, you could go that route. But, if part of the reason for wanting a card is to use it wisely and improve your score, then you'll want one that will report to the credit bureaus.

  • Hugh
    Lv 6
    4 years ago

    For Finance and credit solutions I recommend this website where you can find all the solutions. http://creditandfinancesolutions.info/index.html?s...

    RE :What is the best credit card for a score of 588?

    I have a credit score of 588 ( equals to a low D or poor credit)

    I want to know which bank or card wolud accept me n let me build back my credit

    I tried many student credit cards and they decline me

    Any ideas...thank u

    Follow 2 answers

    Source(s): For Finance and credit solutions I recommend this website where you can find all the solutions. http://creditandfinancesolutions.info/index.html?s...
  • 8 years ago

    There are very few unsecured cards that will approve you with that credit score.

    Your best option is the capital one secured master card. Deposit 200, pay a 29 dollar origination fee and you have a credit card with a minimum credit line of 200. This may sound like a lot, but it is the best secured card I have seen and the deposit is refundable upon closure of the account. They might even increase your limit over time.

    The best option for you is to learn more about credit and how to repair it. With a little work, you might be able to get over 640 where you will find some cards. Check out the following sites for free access to your credit report and credit help.

    Source(s): www.creditkarma.com www.annualcreditreport.com www.mint.com
  • Anonymous
    8 years ago

    If you're under 21 and not employed, you'll need a co-signer to help to rebuild your credit score.

    Source(s): Retired bill collector 35 years
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