Los Angeles, CA (PRWEB) September 20, 2013
Today, personal finance analysts from MyRatePlan.com, the authority credit card comparison site on the web, announced their annual ranking of the top three best credit cards to rebuild credit. Having poor credit can greatly hinder the course of one’s life because poor credit can make obtaining a loan for a new home or automobile difficult. In addition, even cell phone companies do credit checks before approving new customers. However, there are credit cards on the market that are geared towards people with poor credit that want to rebuild their credit.
The experts from MyRatePlan took a number of factors into creating their list of the best credit cards to rebuild credit including credit limit, credit bureau reporting, fees, perks, and more.
Here are the best credit cards for rebuilding credit in 2013:
1) First Progress Platinum Elite MasterCard Secured Credit Card – The First Progress Platinum Elite MasterCard Secured Credit Card is this year’s pick for the best credit card to rebuild credit. With the First Progress Platinum Elite MasterCard Secured Credit Card, cardholders can be approved with no credit history or minimum credit score requirements. The card can be used anywhere a normal MasterCard credit card can be used including hotels, car rentals, and more. The card reports to the three major credit bureaus so that cardholders can increase their credit score by using the card appropriately. The card also offers an expedited processing option so that potential cardholders can get their cards as soon as possible. The card offers a credit line of up to $2000 secured by a deposit.
2) Credit One Bank Gas Rewards Credit Card – The Credit One Bank Gas Rewards Credit Card is another great card for people looking to rebuild their credit. With the Credit One Bank Gas Rewards Credit Card, cardholders earn 1% cash back on all gasoline purchases. This is one of the only credit cards to rebuild credit that actually offers a rewards program. In addition, there are no limits to the amount of gas rewards you can earn. Potential cardholders can be pre-qualified without having the application affect their credit score. Cardholders can get a credit line increase just by making their first six payments on time. The card also offers monthly credit score tracking, and reports to the three major credit bureaus so cardholders can improve their credit score.
3) Horizon Gold Credit Card – The Horizon Gold Credit Card is another good credit card to rebuild credit. With the Horizon Gold Credit Card, cardholders are guaranteed approval even if they have bad or no credit scores. The card also does not do an employment or credit check whatsoever. The Horizon Gold Card also reports to a major credit bureau.
Applying for a credit card to rebuild credit is a great way for people to get their credit reports back on a healthy track, as long as they plan on using the credit card responsibly. People can compare credit cards for poor or no credit here: http://compare.myrateplan.com/credit-cards/compare/compare-credit-cards-bad-credit.