What is the best Bank of America unsecured credit card?

The easiest Bank of America credit card to get is the Bank Americard Secured Credit Card or the Bank Americard Credit Card for Students, because both cards will approve people with no credit, and people with bad credit might even get approved for the Bank Americard Secured Credit Card. Both cards report to credit bureaus each month, so they will help build your credit.… read full answer

Bank Americard Secured is, as the name suggests, a secured credit card. These are easier to get than unsecured credit cards because the credit line is secured by a deposit, making it less risky for the card issuer. This card requires at least a $300 refundable deposit to secure the credit line, and however much you put down as a deposit then becomes your credit limit. It doesn't have an annual fee.

The Bank Americard Credit Card for Students is an unsecured credit card that's easier to get simply because it's built for students, who usually have limited or no credit history. You will have to have income to get approved, and the annual fee is $0.

An unsecured credit card is a credit card with a credit line that is not "secured" by collateral such as a refundable security deposit. In contrast, secured credit cards require a deposit of at least $200-$300, and the deposit amount becomes the account’s spending limit. Most of the time, the phrase "credit card" refers to an unsecured credit card.… read full answer

Types of unsecured credit cards

More than 9 in 10 credit card offers are unsecured, with no deposit needed. So, it’s no surprise there are lots of slightly different types of unsecured credit cards. There are unsecured cards for each credit rating, from excellent credit to bad credit. There are unsecured credit cards for students, small business owners and everyone else. Some reward cardholders for making purchases, while others offer low introductory APRs. Some have low fees; others don’t.

Given the variety, finding the right card for your needs is not as simple as just setting out in search of an unsecured credit card. You need to compare the available offers based on the features – other than security deposit requirements – that figure to have the greatest impact on your life. For your convenience, we’ll highlight a handful of the best, most popular unsecured card offers below.

Popular Unsecured Credit Cards:

• Chase Sapphire Preferred® Card - Good
• Wells Fargo Cash Wise Visa® card - Good
• Capital One QuicksilverOne Cash Rewards Credit Card - Limited History
• Capital One Platinum Credit Card - Limited History
• Credit One Bank® Platinum Visa® with Cash Back Rewards - Fair

Secured or unsecured?

Deciding between an unsecured credit card and a secured credit card is a matter of creditworthiness. People with bad credit or limited credit history will benefit most from a secured card because they may not be able to get good terms with an unsecured card. Few banks and credit unions are willing to take on the risk of lending to applicants with badly damaged credit. As a result, there is a limited selection of unsecured credit card offers for people with below-average credit, and the cards that are available can be pretty expensive. Credit cards for students with no credit are a notable exception, though.

Given that borrowers basically prepay for their purchasing power with secured credit cards, such cards offer higher approval odds and charge lower fees than unsecured cards for poor credit. Secured credit cards also report to the major credit bureaus each month, and they look exactly like unsecured credit cards on credit reports. That means using a secured card responsibly can help you build or rebuild your credit just like an unsecured credit card. To learn more, check out our secured vs. unsecured credit cards comparison.

The easiest unsecured card to get is the Fingerhut Credit Account. But it won’t suit everyone’s needs. Fingerhut is an online marketplace, and its card can only be used to make purchases on the site. So while it will give you an unsecured line of credit, it won’t really help you cover emergency expenses.… read full answer

If you’re looking for a card that can be used for anything, the Credit One Bank® Visa® Credit Card is your best bet. You can get approved for it with bad credit. It offers a $300 starting spending limit. And you can use it wherever Visa is accepted.

Those aren’t your only options, though. WalletHub’s editors compared all of the unsecured credit cards in our database of 1,000+ offers. And we selected our favorite easy-to-get offers.

Easiest Unsecured Credit Card to Get Approved For

• Fingerhut Credit Account: Overall
• Credit One Bank® Visa® Credit Card: Rewards
• Capital One® Spark® Classic for Business: Small Business
• Petal® 2 Visa® Credit Card: Limited Credit
• Deserve® EDU Mastercard for Students: Students

The easiest unsecured credit cards to get generally work best for minor emergencies. You will only receive a small amount of spending power, after all.

Unsecured credit cards for people with bad credit also tend to be very expensive, charging lots of fees and high interest rates. So if you don’t need a small emergency loan, the best course of action is to improve your credit inexpensively with a secured card. Secured cards are cheaper than unsecured cards, build credit just as effectively, and offer the closest thing you’ll find to guaranteed approval.

To learn more, check out WalletHub's complete list of the year’s easiest credit cards to get approved for​.