9 Unsecured Credit Cards for Bad Credit (2017): No Deposit Required
Although it can often appear complex from the outside, the world of finance is actually based on a remarkably simple concept. Indeed, at its heart, finance is built on the idea that every action has a certain amount of risk and a certain amount of reward, and you always want your rewards to outweigh your risks.
This concept can be illustrated easily by the way most institutions approach consumer lending, where consumer risk is determined based on each consumer’s credit reports and scores. In general, those consumers who represent the least amount of risk (i.e., those who have the best credit reports and highest credit scores) are easily approved for new credit and given low interest rates.
Conversely, consumers whose low scores indicate financial risk will have a harder time finding credit. While some may benefit from opening a secured credit card by providing a cash deposit, not everyone can afford the lump sum needed for a secured card. Unsecured credit cards, on the other hand, won’t require a deposit to open, but may have higher fees and interest rates. Check out the top unsecured card providers for less-than-perfect credit below.
First PREMIER: 3 Unsecured Cards for Poor Credit
Headquartered in Sioux Falls, South Dakota, First PREMIER Bank is the 12th largest issuer of Mastercard credit cards in the US. First PREMIER Bank’s ancestry goes back to 1914, but the bank is known today for its range of subprime credit cards designed for those with poor or bad credit.
All of our First PREMIER credit card picks will report your card use to the three major consumer credit bureaus, a necessary part of rebuilding your credit. Depending on your individual credit, you may be charged an annual fee for your new First PREMIER card. In this case, your fee will be charged when you open your account.