Another great option is the Petal® 2 Visa® Credit Card. This card offers 1 - 1.5% cash back, depending on the type of purchase. The Petal 2 Card also comes with a $0 annual fee and reports monthly to the major credit bureaus.
There are plenty of options to pursue as far as credit cards for no credit with no deposit go. But if you find yourself rejected for the first one or two you apply for, you should consider going with a secured credit card. They have much higher approval odds, and your security deposit is fully refundable as long as you pay off your balance. Secured credit cards can help you build credit just as well as unsecured credit cards, so you shouldn't rule them out entirely.
2022's Best Credit Cards for People with No Credit
Quite a lot, actually, especially if you're a student. If not, my cousin started with Credit One Platinum, and he's pretty happy with it. Just look for any card that doesn't have "Secured" in the name, and with "Limited History" as the requirement.
One of the best unsecured credit cards for fair credit is Upgrade Cash Rewards Visa® because it offers unlimited 1.5% cash back on all purchases (after you pay the bill) and a $0 annual fee. There’s a 0% foreign transaction fee, too.
Another good unsecured card for fair credit is the Petal® 2 Visa® Credit Card. This card offers at least 1% cash back on all eligible purchases, up to 1.25% back after 6 months of on-time payments, and 1.5% cash back after 12 consecutive months of paying on time.… read full answer
Pretty much all credit cards for fair credit are unsecured, though. Secured credit cards (those requiring a refundable security deposit) are meant for people with bad credit or no credit. But there are unsecured cards for every credit level, including bad credit. And while fair credit won’t get you the very best unsecured cards, it should qualify you for an account with no annual fee, solid rewards or maybe even both.
It’s always a good idea to shop around before picking out an unsecured credit card for fair credit. Take some time to decide whether you want to prioritize rewards, interest rates, fees or other aspects. Upgrade Credit Card is probably your best option overall because of its high cash back rate and no fees.
Other secured cards don’t have the potential to be quite as cheap, but there are a few really good options with a $200 minimum deposit. That’s still pretty low compared to several secured cards that ask for $300-$500+. … read full answer
Here are some good secured credit cards with low deposits:
The Capital One Platinum Secured requires a $49, $99 or $200 minimum deposit. This card has a $0 annual fee and $0 foreign transaction fees. The Capital One Platinum Secured has a $200 starting credit limit.
The Capital One Quicksilver Secured requires a $200 minimum deposit. This card offers 5% cash back on hotels and rental cars booked through Capital One Travel, as well as 1.5% cash back on all other purchases. The Capital One Quicksilver Secured has a $0 annual fee and $0 foreign transaction fees.
It’s worth noting that the Capital One Platinum Secured doesn’t guarantee a low deposit, but it does offer the chance of one. If your credit is toward the bottom of the bad credit range, you’ll probably still have to put down a $200 deposit. But the higher your credit score is, the better chance you’ll have of being assigned a low deposit.
No, you cannot get a secured credit card with no deposit. In fact, having to place a security deposit is the only thing that’s unique about secured credit cards; there is no other difference between secured and unsecured credit cards. You can, however, get a secured card with a low deposit. Plus, there are some … read full answercredit cards with no deposit for people with bad credit. But they tend to be more expensive in the long run, thanks to high fees that you don’t get back.
Here are some of the best secured credit cards with low deposits:
Any of these cards will help you rebuild your credit if used responsibly. Most importantly, that means paying on time every month.
Finally, it’s worth noting that although you can’t get a secured credit card without a security deposit, you can keep one – sort of. After months of responsible use, your card’s issuer may offer to refund your deposit. They may graduate you to a better offer or give you an unsecured line of credit on your existing account.
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