SOURCE: Creditnet

Creditnet

March 31, 2014 19:23 ET

The Best Credit Cards to Repair Credit, Announced by Creditnet.com

SEATTLE, WA--(Marketwired - Mar 31, 2014) - Today, Creditnet.com, a leading authority on credit cards, announced the best credit cards to use to improve credit. For consumers with no or poor credit, it can be hard to repair credit. However, certain credit cards can help users rebuild credit fast by reporting to all 3 major credit bureaus (Experian, Equifax, and TransUnion) each month. These cards, also known as secured credit cards, require a deposit to "secure" the credit line. They are then used as normal credit cards with rewards, introductory offers, and more.

Creditnet experts weighed annual fees, approval rates, introductory offers, customer reviews, and expert opinions in determining the best credit cards to repair credit. According to their findings, here are the top cards on the market today:

Open Sky Secured Visa Credit Card

With the Open Sky Secured Visa Credit Card, cardholders easily build credit with monthly reporting. Consumers can apply in less than 5 minutes with no credit check necessary, and they start with a credit line as low as $200. There is a low annual fee of $29, and cardholders enjoy no interest charges on new purchases as long as the balance is paid by the due date each month.

First Progress Platinum Prestige Secured MasterCard

The First Progress Platinum Prestige Secured MasterCard has no credit history or minimum credit score required for approval and monthly reporting to all 3 credit bureaus. Users can get this card with a quick and complete online application, and they secure the credit line with a deposit of $300 - $2000. There is an annual fee of $44 and a variable APR of 11.99%.

First Progress Platinum Elite MasterCard Secured Credit Card

Like the First Progress Platinum Prestige Secured MasterCard, the First Progress Platinum Elite MasterCard Secured Credit Card reports to the major credit bureaus each month and has no credit history or minimum score required for approval. With an expedited processing option, cardholders can get their card quickly. This card has an annual fee of $29 and a variable APR of 19.99%.

First Progress Platinum Select MasterCard Secured Credit Card

The First Progress Platinum Select MasterCard Secured Credit Card rounds off Creditnet's list of the best credit cards to repair credit. This card also reports monthly and has no credit history or minimum credit score required for approval. In addition, the online application is simple and quick. There is an annual fee of $39 and a variable APR of 14.99%.

These are the best credit cards to use to help repair credit. By reporting to each of the major credit bureaus every month, they can help you fast. For more information regarding secured credit cards, access Creditnet's innovative credit card comparison tool.

About Creditnet:

Creditnet is an authority credit card comparison site that offers innovative comparison tools to help users find the best credit card for their needs. In addition, the Creditnet Credit Talk Forum is a community of over 100,000 members that discuss credit cards, credit, debt, and credit repair daily.

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