Although credit cards sometimes cause more problems than they solve, they can be helpful in rebuilding your credit.  Depending on your credit, you may not be able to get an unsecured credit card. In that situation, you should consider a secured credit card. The benefit of these cards is that your credit limit is based on the deposit you make. So, for most of them, if you deposit $300, that is your credit limit. This makes it easy to watch your spending while still rebuilding your credit.

Here are some of the best secured credit cards out there

Digital Federal Credit Union 

There are several advantages to this card, which is why it’s a good choice for those looking to rebuild their credit. First, the 11.5% APR is one of the lowest APR’s for secured credit cards. Another benefit is that it reports to all three major credit bureaus. Finally, it doesn’t have an annual fee, which is not typical of secured credit cards. It does have a $500 deposit, so plan ahead if you’re interested in this card.

US Bank Secured Card

The US Bank Secured Card has no annual fee and the deposit ranges from $300 to $5,000. The upside to the deposit is that it’s kept in an interest-bearing savings account.  This means you’ll be making a little money while it sits there. US Bank reports to all three credit bureaus, and it doesn’t charge a penalty APR if you’re late. One of the best features is that this card offers an upgrade option after 12 months.  This is assuming you’ve paid on-time every month. Just be aware that the qualifications for this card are rather strict given the benefits.

Capital One Secured MasterCard

With this card, you can choose your deposit of $49, $99, or $200 and you’ll get approved for a limit of $200 with no annual fee.  You can also make partial payments on your deposit, provided it’s paid in full 80 days from the date you are approved.  During that time, you still get access to the full credit line for which you were approved. It also reports to all three major credit bureaus, but one of the best features of this card is that you can track your credit-building with Capital One’s Credit Tracker tool. It shows you how your credit improves the more you use your card and pay it off each month.

Credit cards can be both a blessing and a curse for some people.  When it comes to rebuilding your credit, they are the best way to improve your overall credit standing. There are several types of credit cards on the market, but secured cards are generally the easiest to get when your credit is less than perfect. Once you have built up a strong credit standing, you may eventually qualify for unsecured cards, mortgages, and low APR car loans.