#Compare credit cards discover how to

These are reported to two national credit bureaus, building credit history, creditworthiness and your credit score. In fact, the application page says “prior credit history is not required to qualify.”Īnd this card can help you build positive credit if you consistently make on-time payments each month. There’s no minimum credit score required to open the Oportun Credit Card. Not available everywhere: You won’t be able to get the Oportun Credit Card if you live in Colorado, Iowa, Maryland, Wisconsin, West Virginia or Washington, D.C.This may not be sufficient for some consumers and is a fairly low ceiling compared to other cards. Low credit limit : The maximum credit limit on the Oportun Credit Card is $1,000.No offer for new cardholders: Many cards will provide a welcome bonus of points or cash back if you spend a certain amount in the first few months after opening an account, or they may include an introductory 0% APR for a certain time.No rewards program: You won’t earn any points or bonus cash back when making purchases with this card.This can help you build credit history and a good credit score if you keep your utilization low and always pay your bill on time. Build credit history with major credit bureaus: Your account history and payment activity will report to two of the three major bureaus (Equifax and TransUnion).You may qualify for a lower (or no) annual fee, depending on proof of income and credit.

Low or no annual fee : The annual fee on the Oportun Credit Card is $0 - $49.However, the Oportun Visa accepts applications from those without an SSN (though you’ll need to provide an ITIN instead). Might accept you with no Social Security number: It’s typical to have to list an SSN when applying for a credit card, which can be a barrier to accessing credit for those who are new to the U.S.Proof of income and payment history for your final obligations are considered as well. Available to those with limited or no credit history: While your credit report is checked, this isn’t the only consideration.You can use this card anywhere Visa is accepted without paying a fee on purchases made outside the United States. That’s a surprising feature to see in a card with a low (or no) annual fee that’s targeted to those building credit. It’s also worth noting that the Oportun card is a Visa card without foreign transaction fees. In fact, you may be approved to pay no annual fee, depending on your payment history and proof of income, among other factors. What the Oportun Credit Card lacks in rewards is overcome by its ability to allow cardholders to build credit without requiring a security deposit or steep fees. Building credit also improves your approval odds for better credit cards in the future, as well. By building positive credit history, you’ll typically gain access to better loan rates when buying a car or a house. If you’re looking to build credit, those may be secondary concerns, however. You won’t earn any points or cash back with your purchases or get any other meaningful cardholder perks. Other negatives include a lack of rewards or special offers. The main drawback is the card’s low credit limit.Credit lines range from $330 to $1,000 and other cards aimed at this market may offer a higher credit line if you have the income to justify it.

Other positives include the lack of security deposit and the ability to use proof of income to boost your approval odds. The Oportun card’s main selling point is that it’s aimed at those with a low or nonexistent credit score. In order to build good credit, you must first access credit.

#Compare credit cards discover how to

Those lacking credit history (or those with poor credit) may struggle with the dilemma of how to improve their credit standing.

Recommended credit score: No credit/limited credit.

Does the issuer offer a preapproval tool? No, but may extend pre-qualification offers by mail.

Does it report to all three credit bureaus? No, but it reports to two of the three major bureaus: Equifax and TransUnion.

Other perks and benefits: Applications will be considered even for those who don’t yet have a credit score credit score, which is a bonus for anyone who lacks credit history but has proof of income.

Annual fee: $0 - $49, depending on creditworthiness.

The card details on this page have not been reviewed or provided by the card issuer. Those who lack credit history often struggle to obtain credit cards that don’t require a security deposit, and this access is the main selling point of the Oportun® Visa® Credit Card * The information for the Oportun® Visa® Credit Card has been collected independently by Blueprint.