If you are a blogger or business owner with bad credit or are new to blogging but have bad credit, getting a credit card can be challenging. However, it's important to understand how to manage expenses and rebuild your credit score. The right credit card can help you track business-related purchases, earn rewards, and improve your financial standing.
If you're in this position, plenty of options are available. Here are five recommended credit cards, plus a bonus card that we love and great for bloggers and small business owners.
1. Discover it® Secured Credit Card
This secured card requires a refundable deposit and offers cash-back rewards, making it ideal for rebuilding credit while earning perks.
Key Features:
- Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter; 1% cash back on all other purchases.
- No annual fee.
- Automatic reviews start at seven months to transition to an unsecured card.
Why It's Good for Bloggers: The cash back on dining and gas can offset common blogging expenses, and the potential to upgrade to an unsecured card supports long-term financial growth.
2. Capital One Platinum Secured Credit Card
This card offers a flexible security deposit and the opportunity for credit line increases, aiding in credit building.
Key Features:
- Refundable security deposit as low as $49 for a $200 credit line, based on creditworthiness.
- No annual fee.
- Automatic consideration for a higher credit line in as little as six months.
Why It's Good for Bloggers: The low initial deposit and potential for credit line increases make it easier to manage business expenses and improve credit over time.
3. OpenSky® Secured Visa® Credit Card
This secured card doesn't require a credit check, making it accessible for those with poor credit histories.
Key Features:
- No credit check is required for approval.
- Reports to all three major credit bureaus.
- $35 annual fee.
Why It's Good for Bloggers: The lack of a credit check simplifies the approval process, allowing bloggers to start rebuilding credit without additional hurdles.
4. Chime Credit Builder Secured Visa® Credit Card
This card offers no annual fee and doesn't require a credit check, focusing on building credit through responsible use.
Key Features:
- No annual fee or interest.
- No credit check to apply.
- Reports to all three major credit bureaus.
Why It's Good for Bloggers: With no fees and straightforward approval, this card helps bloggers build credit without incurring additional costs.
5. Credit One Bank® Platinum Visa® for Rebuilding Credit
The Credit One Bank® Platinum Visa® Credit Card is an unsecured card designed for people with bad credit. It offers cash-back rewards on eligible purchases.
Key Features:
- Earn 1% cash back on eligible gas, grocery, and mobile phone service purchases.
- Annual fee between $75 and $99.
- Monthly credit score tracking.
Why It's Good for Bloggers: The cash back rewards on common expenses and the unsecured nature of the card provide flexibility for managing blogging-related costs.
Bonus Pick: Bank of America® Business Advantage Unlimited Cash Rewards Secured Credit Card
This secured business credit card is designed to help establish and strengthen your business credit while earning cash-back rewards.
Key Features:
- Earn unlimited 1.5% cash back on all purchases.
- No annual fee.
- Requires a minimum security deposit of $1,000, which becomes your credit limit.
- Access to free Dun & Bradstreet business credit score information through Business Advantage 360, Bank of America's small business online banking platform.
Why It's Good for Bloggers: This card allows bloggers to separate personal and business expenses, build business credit, and earn cash back on all purchases, aiding in financial management and growth.
Tips for Using These Cards Effectively:
- Pay on Time: Timely payments are crucial for improving your credit score.
- Keep Balances Low: Maintain low balances relative to your credit limit to positively impact your credit utilization ratio.
- Monitor Your Credit: Regularly check your credit reports to track progress and identify any discrepancies.
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