Whats the best credit card to build your credit

What are the best credit cards to build credit fast?

The best credit card to build credit fast is the Capital One Platinum Credit Card because it has a $0 annual fee and is available to people with limited credit. Capital One Platinum also reports account information to the credit bureaus every month. In addition, Capital One Platinum may automatically consider you for a credit limit increase after the first 6 months, based on how you manage the account. Capital One Platinum does not offer rewards or 0% introductory APRs but it spares you any membership fees, which makes it easier to build credit quickly and inexpensively.

Best Credit Cards to Build Credit Fast

• Overall: Capital One Platinum Credit Card
• High Credit Limit: Bank of America® Unlimited Cash Rewards Secured Credit Card
• Cash Back: Capital One Quicksilver Secured Cash Rewards Credit Card
• No Credit Check: OpenSky® Secured Visa® Credit Card
• Students: Bank of America® Travel Rewards Credit Card for Students
• No SSN Requirement: Deserve® EDU Mastercard for Students

Theoretically, a credit card with a high credit limit and low fees could build credit faster because the additional available credit will provide you with a better opportunity for low credit utilization, which in turn, will boost your credit score. Unfortunately, you won't always know your credit limit until after you're approved. Secured credit cards are the exception, since the amount of your deposit becomes your credit limit. But if you're establishing credit from scratch, you probably aren't eager to fork over the $200+ for a deposit, even though it's refundable.

To help you choose the best credit-building card for your needs, take a look at our editors' picks for the best credit cards to build credit. You can also sign up for a free WalletHub account to get daily credit score updates and personalized credit-improvement advice.

How many credit cards should I have to build credit?

Milvionne Chery Copeland, Writer

You should have at least one credit card to build credit because owning a credit card is the easiest way to get a steady stream of positive information flowing into your credit reports each month, which will build your credit history. You don't even need to make purchases to benefit. Just having a credit card with no balance can allow you to build credit without the risk of accruing unmanageable debt.

As long as you have at least one credit card, the exact number of cards you have is not as important to your score as other factors such as credit utilization and on-time payments. However, having more than one card reporting good information like on-time payments to the credit bureaus can certainly help.

You can find out what adding more credit cards may do to your credit score by trying out WalletHub's credit score simulator. In addition, if you are having a tough time finding the right card, WalletHub's editors can help you out with their top picks for the best credit cards to build credit.

Best Credit Cards to Build Credit

• Best Overall: Capital One Platinum Credit Card
• Best Rewards: Capital One QuicksilverOne Cash Rewards Credit Card
• Best for Students: Bank of America® Unlimited Cash Rewards credit card for Students
• No Credit Check: OpenSky® Secured Visa® Credit Card

Once you have a credit card that you can use to build credit, you should keep track of how your credit score progresses. You can check your credit score for free on WalletHub.

Do prepaid business credit cards build credit?

No, prepaid business credit cards don't build credit. Even when they're marketed to businesses, prepaid cards are not credit cards, as there's no credit line attached to them. Unlike a credit card, prepaid cards have their funds stored in a stand-alone prepaid account which you can reload. So you can only spend what you've deposited into your account. That's why they don't help build personal or business credit.

A secured credit card is a better option for those wanting to build credit. Secured credit cards do report to credit bureaus, so using them responsibly will help build your credit history. You don't need good credit history for a secured credit card, because your credit limit is simply how much of a deposit you're able to put down when you apply or open an account. Thus, the credit line is “secured” by the deposit. Some of the best secured credit cards are open to consumers as well, but small business owners can also apply for them. Secured business credit cards may also provide features specifically tailored towards businesses, such as employee cards with individual spending limits and more.

Will 2 credit cards build credit faster than 1?

Chip Lupo, Credit Card Writer

Yes, two credit cards will build credit faster than one, if used responsibly, because having a second card generates more positive information to report to the credit bureaus each month. Having a second card will increase your total credit limit, too, making it easier to maintain low credit utilization.

On the other hand, if you worry about overspending and have trouble juggling multiple accounts with different due dates and minimum payment amounts, having more than one credit card could end up doing your credit more harm than good. Besides, it's definitely possible to quickly build a good or excellent credit score with just one credit card account.

You can get a better idea about whether you specifically will build credit faster with one credit card or two by using our credit score simulator, which you can access when you sign up for a free WalletHub account. You'll also get daily credit score updates and personalized credit-improvement advice.

Do store credit cards help build credit?

Bogdan Roberts, Credit Cards Moderator

Yes, store credit cards can help build credit, if you use them wisely. Store credit cards report your payment history to credit bureaus the same as a regular consumer credit card. If you make timely payments for more than the minimum due, and stay within your credit limit, a store credit card can go a long way in building, or even rebuilding your credit.

A store credit card is a card offered by a retailer. It's not to be confused with a charge card, in that a store credit card does not require you to pay off the entire balance every month. Store credit cards are also known as closed-loop cards, which means it can be used only for purchases within the store, its website, or affiliated stores. Retailers may also offer open-loop, or co-branded store cards. They're store cards, but they're on a credit card network such as Visa and Mastercard, and can be used anywhere the network's cards are accepted.

You can use a store credit card to help build credit because they're generally easier to get. Most store credit cards require a minimum fair credit score to have a chance of being approved. The drawback is that you'll likely start out with a higher interest rate and a lower credit limit than you would with a co-branded credit card. Co-branded store cards also come with stricter approval requirements.

Where you can run into trouble with a store credit card is the temptation to overspend. Your favorite retailer may bombard you with promotional offers, discounts and sales announcements. It's pretty easy to make additional purchases in the store, or online, thinking your sales item purchases will make up the difference.

In the end, you'll end up canceling out any discounts and burning up most of your credit limit. That doesn't bode well for your credit utilization, which should be at less than 30% of your available credit. And then there's the interest that will be tacked on if you have to carry a balance to the next month.

Speaking of interest, be wary of any 0% promotional offers, particularly for large purchases. Unlike a 0% APR you'll find on some regular credit cards, over half of all store cards operate on deferred interest, according to a WalletHub study. If you don't pay off the balance by the end of the promotional period, you'll be charged all the interest accrued on the original purchase price.

So store cards can definitely help you build credit, as long as you pay your bills on time and preferably in full, while maintaining a low credit utilization. The same rules apply to a regular credit card, so feel free to check out more tips on how to build credit with a credit card. Some of the best store credit cards offer extensive rewards and are worth getting, especially if you already shop at their respective stores.

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Do authorized users build credit?

John S Kiernan, Managing Editor

Yes, authorized users do build credit. You can actually build a good or excellent credit score just as an authorized user on a credit card. When you become an authorized user, the account is added to your credit report, which means on-time payments by the primary cardholder will help you build good credit history. But because authorized users are not responsible for paying the bills, credit scores don't give authorized user accounts as much weight. So you won't build credit as fast as an authorized as you would with your own credit card account.

Still, the fact that most credit card companies don't have a minimum age for authorized users, means becoming one is a great way to build credit before you can get your own account. But there are a few positives and negatives you should know about before becoming an authorized user.

Here's how authorized users build credit:

1. A friend or family member adds you to their credit card account as an authorized user.
2. The credit card account gets added to your credit reports, just like if it were your own account.
3. The issuer gives updated account information to the credit bureaus on a monthly basis.
4. Your credit standing improves if the account owner has on-time payments, low credit utilization and other signs of financial responsibility.
5. Your credit gets hurt if the account holder behaves irresponsibly.
6. You can get an account with negative information removed from your report, since you aren't responsible for making payments.

Authorized users do build credit, but that credit can be good or bad, depending on how the primary accountholder manages balances and bill payments. So you only want to become an authorized user on an account owned by someone responsible.

But in the event that an authorized user account does end up hurting your credit, you can dispute the account to get it removed from your credit report. That's because any mistakes made won't be your responsibility.

Finally, you'll build credit faster if you also have your own credit card account that you use responsibly. You can get a starter credit card once you turn 18 years old, as long as you have enough money to pay the bills.

If you have bad credit and are worried you won't get approved, try applying for a secured credit card. Secured cards require security deposits, but they have the highest approval odds of all credit cards and accept people with bad credit.

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What is the best gas card to build credit?

Cameron DiGiovanni, Writer

The best gas card to build credit with is the Bank of America® Customized Cash Rewards Secured Credit Card. This card earns 3% cash back in a category of your choice, including gas. However, since this is a secured credit card, you'll need to put down a deposit of $200, at a minimum. The card accepts applicants even with bad credit.

Alternative Gas Card Option to Build Credit

If you have at least fair credit, you should consider the Shell Gas Card. The card has a $0 annual fee and it reports to the three major credit bureaus – TransUnion, Experian and Equifax – on a monthly basis. The Shell Gas Card also offers 10 ¢ per gallon every time you fill up. However, this card can only be used to make Shell purchases. 

Ultimately, there are a lot of great credit cards for gas on the market, so be sure to check out your options before applying.

What are the easiest credit cards to get approved for?

John Kiernan, Credit Card Editor

The easiest credit cards to get approved for with no credit or bad credit are secured credit cards. These cards have annual fees as low as $0 and report monthly to the 3 major credit bureaus. Some even give rewards of 1% or more. To help people with no credit or bad credit maximize their odds of approval for a credit card, WalletHub’s editors compared the approval requirements for more than 1,500 credit card offers, along with their fees, rates and rewards.

Easiest Credit Cards to Get Approved For

• Best for No Credit Check: OpenSky® Secured Visa® Credit CardLearn More
• Best Unsecured: Credit One Bank® Platinum Visa® for Rebuilding CreditLearn More
• Best for No Annual Fee: Petal® 2 Visa® Credit CardLearn More
• Best for Cash Back: Capital One Quicksilver Secured Cash Rewards Credit CardLearn More
• Best for Students: Bank of America® Customized Cash Rewards Credit Card for StudentsLearn More
• Best for No Credit: Capital One Platinum Credit CardLearn More

Why People Trust WalletHub

Unlike other sites that only promote cards they're paid by, WalletHub's editors focus on finding the best cards. WalletHub makes it easy to find the easiest credit cards to get.

It’s important to get a good credit card because credit cards are the best credit-building tools available to us. They all report information to the major credit bureaus on a monthly basis, and unlike loans, they don’t require you to incur any debt. Some credit cards are much easier to get approved for than others, though. You can learn all about the best easy approval credit cards below.

This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection. 

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Do Capital One cards build credit?

Rhonda Stewart, WalletHub Loans Analyst

Yes. Capital One cards help build credit, as long as customers spend responsibly and pay the bill on time every month. Capital One credit cards are especially good for building credit because they can be free to use, and Capital One reports account information to the three major credit bureaus monthly.

Capital One also has credit cards for people with limited credit history or bad credit. In addition, both the primary cardholder and any authorized users they add will build credit if the account is kept in good standing with on-time bill payments.

That said, Capital One credit cards can also hurt the credit scores of primary cardholders. If you miss due dates or max out a Capital One card, for example, this will negatively affect your credit score. When used responsibly, though, Capital One credit cards can help you achieve a good or excellent credit score.

What are the best credit cards for bad credit with no deposit and instant approval?

Adrian Kaplan, WalletHub Credit Card Consultant

The best credit card for bad credit with no deposit and instant approval is the Credit One Bank® Platinum Visa® for Rebuilding Credit. The Credit One Visa comes with a credit line of at least $300 and offers 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services. It charges an annual fee of $75 intro 1st yr, $99 after and is available to people with bad credit. You can apply online, after checking to see if you're pre-qualified.

Keep in mind that while there is a possibility of instant approval with most cards you can apply for online, it's never guaranteed. Instant approval tends to happen when your credit and income are better than the card's requirements. Sometimes, issuers may take longer to review a credit card application. There are a few other credit cards for bad credit with no deposit (known as unsecured cards) with instant approval, that are worth considering.

Best credit cards for bad credit with no deposit and instant approval:

• Credit One Visa: 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services. $75 intro 1st yr, $99 after annual fee. Minimum credit limit of $300. Requires pre-qualification before applying.
• Milestone® Mastercard® - Less Than Perfect Credit Considered: No rewards. $35 - $99* annual fee, depending on your credit. Minimum credit limit of $300. Requires pre-qualification before applying.
• Indigo® Mastercard® for Less than Perfect Credit: No rewards. $0 - $99 annual fee, depending on your credit. Minimum credit limit of $300. Requires pre-qualification before applying.
• Fingerhut Credit Account: No rewards. $0 annual fee. Minimum credit limit varies based on the specifics of your credit. Can only be used on shopping from the Fingerhut catalog.

Keep in mind that unsecured credit cards for bad credit tend to be more costly and less rewarding than their secured counterparts. Make sure you keep your account in good standing by paying your balance on time and preferably in full, every month. This will allow you to improve your credit score and gain access to some of the best unsecured credit cards over time.

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