Chip Lupo, Credit Card Writer
@CLoop
Yes, you can get a credit card with a 500 credit score, though your options will be limited to secured credit cards and unsecured credit cards for bad credit. The best credit card for a 500 credit score is the Capital One Quicksilver Secured Cash Rewards Credit Card. It 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, has a $0 annual fee, and reports to all three major credit bureaus. There’s also a $200 minimum security deposit.
In general, secured cards are the safest option with a 500 credit score, as they’re less expensive and give you higher odds of approval than unsecured cards for bad credit. Some secured cards won’t even check your credit when you apply. Still, it’s important to note that no credit card guarantees approval.
Credit Cards You Can Get with a 500 Credit Score
- Overall: Capital One Quicksilver Secured Cash Rewards Credit CardCapital One Quicksilver Secured Cash Rewards Credit CardLearn MoreLearn More
- No Credit Check: OpenSky® Secured Visa® Credit CardOpenSky® Secured Visa® Credit CardLearn MoreLearn Moreon issuer's website
- Unsecured: Credit One Bank® Platinum Visa® for Rebuilding CreditCredit One Bank® Platinum Visa® for Rebuilding CreditLearn MoreLearn Moreon issuer's website
- Rewards: Bank of America® Unlimited Cash Rewards Secured Credit CardBank of America® Unlimited Cash Rewards Secured Credit CardLearn MoreLearn More
- Low Minimum Deposit: Chime Credit CardChime Credit CardLearn MoreLearn More
A credit card can go a long way toward rebuilding bad credit if you manage the account responsibly. That means paying your bill on time every month and keeping your spending in check. Additionally, you can sign up for a free WalletHub account and get free daily credit score updates, along with personalized credit-improvement guidance.
2023's Credit Cards for Bad Credit
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What are the best credit cards for a 500 credit score?
The best credit card for a 500 credit score is the Discover it® Secured Credit Card. It has a $0 annual fee and rewards cardholders with 2% cash back at gas stations and restaurants (up to $1,000 spent each quarter combined), and 1% back on all other purchases.
Secured cards generally provide the best opportunity for someone with a credit score of 500 (or below) to rebuild their credit standing, thanks to good approval odds and monthly reporting to the major credit bureaus.
Best Credit Cards for a 500 Credit Score
- Rates & FeesOverall: Discover it® Secured Credit CardDiscover it® Secured Credit CardLearn MoreLearn Moreon issuer's website
- Bonus Points: U.S. Bank Altitude® Go Visa® Secured CardU.S. Bank Altitude® Go Visa® Secured CardLearn MoreLearn More
- Cash Back & Uber Rewards: Capital One Quicksilver Secured Cash Rewards Credit CardCapital One Quicksilver Secured Cash Rewards Credit CardLearn MoreLearn More
- Customized Rewards: U.S. Bank Cash+® Visa® Secured CardU.S. Bank Cash+® Visa® Secured CardLearn MoreLearn More
- No Credit Check: OpenSky® Secured Visa® Credit CardOpenSky® Secured Visa® Credit CardLearn MoreLearn Moreon issuer's website
- Unsecured: Credit One Bank® NASCAR® Credit CardCredit One Bank® NASCAR® Credit CardLearn MoreLearn More
When used responsibly, the...
read full answerCan I get an unsecured credit card with a 500 credit score?
Yes, you can get an unsecured credit card with a 500 credit score, but you will likely end up with high fees, high interest rates, and a low credit limit. The best unsecured credit card to get with a 500 credit score is the Credit One Visa card.
The Credit One Visa offers a $300 starting credit limit, the potential for automatic credit line increases, and an annual fee of $75 intro 1st yr, $99 after. Cardholders earn rewards on select purchases, too.
... read full answerWhat is the minimum credit score for a credit card?
There is no minimum credit score needed for a credit card. Some credit card companies don’t even check applicants’ credit history, so it’s certainly possible to get a credit card even if you have a very low credit score or no credit score at all.
But there is a difference between getting approved for a credit card in general and getting one of the better offers.
The credit score needed for credit card...
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