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One of our favorite overall picks among credit cards for people with bad credit is the DCU Visa® Platinum Secured Credit Card, but if you or one of your family members is a veteran or active duty military, you may want to consider the USAA® Secured Visa Platinum® Card, also a standout option among secured cards.
The United Services Automobile Association, or USAA, offers this card as a low-interest secured card with fairly low fees to its members. USAA membership is open to active military members and veterans, as well as the spouses, widows and widowers, and children of USAA members.
The card has an annual fee, unlike the Capital One® Secured Mastercard®, but it has a much lower interest rate, which is important for anyone who plans to or thinks they might ever carry a balance.
Another plus: Much like the DCU Visa® Platinum Secured Credit Card, the USAA® Secured Visa Platinum® Card charges the same interest rate for cash advances as it does for regular purchases — a rarity even among top-tier unsecured credit cards.
Perhaps the best part of the USAA® Secured Visa Platinum® Card, in terms of its benefits for military members and family who need to rebuild their credit, is that USAA also offers a number of unsecured credit card options, many of which have low interest rates and some that even offer introductory o% balance transfer periods. That means that once you’ve rebuilt your credit, you’ll already have your foot in the door with USAA to graduate to one of its higher-quality cards.
Outside of USAA, there are other options that are only available to active military, veterans and their families. These military credit cards often offer perks not found with traditional consumer credit cards. More information on these options is available on our military credit cards roundup page.
There are many reasons why someone would want a so-called bad credit credit card, but in most cases it’s because they’ve damaged their credit history to the point where they can no longer get approved for a regular unsecured credit card. Using a secured credit card allows people with bad credit to rebuild and get to a point where they can move away from that card and onto an unsecured card.
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