6. Credit One Bank Visa Credit Card with 1% Cash Back
Score: 8 points;
Card Rate’s rating: 4.0 stars (4 points);
Credit needed: poor (2 points);
Initial credit line: not available (0 points);
Annual fee: $0 first year, $99 later (1 point);
Processing fee: $0 (2 points);
Cashback: 1% (1 point);
Credit One offers the only credit card available to consumers with bad credit that offers cash back feature. Although the company doesn’t require you to pay procession fees, after the first year, they start charging the annual fee of $99. If you want to apply for this card, your FICA score should be higher than 600. Since bankruptcy can take away as much as 240 points from your score, the card is only available to people who had a good credit before filing for Chapter 7 or 13.
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