What do you do when you're denied for a secured credit card?

If you are denied for a secured credit card, you could apply for a different secured card (one with a higher approval rate), become an authorized user on someone else’s credit card account, or apply for a credit-builder loan. Some secured credit cards don’t even check your credit when you apply. So you will only be turned down if you do not have a U.S. mailing address, a Social Security number (or Individual Taxpayer Identification Number), or enough money to fund your deposit and make monthly payments.

In general, secured credit cards are much easier to get than unsecured cards because they require a refundable deposit that also serves as your credit limit. Because there’s less risk for the issuer, secured cards are able to offer nearly guaranteed approval, even to people with damaged credit. But that doesn’t mean everyone is accepted, and some secured cards are easier to get than others.

Typically, if you’re denied for a secured credit card, the card’s issuer will send you a letter explaining why. That can be a good place to start when determining your next steps.

What to do if you’re denied for a secured credit card:

• Apply somewhere else. Just because you didn’t meet one credit card company’s requirements doesn’t necessarily mean you’re disqualified from every secured card on the market. In particular, make sure to check out credit cards with no credit check.
• Become an authorized user. If someone adds you to their account as an authorized user, you’ll get a card and be able to make charges, but the primary cardholder will be responsible for paying the bills. And if they pay on time, your credit standing will improve.
• Apply for a credit-builder loan. Many credit unions and banks offer small loans to help people build or rebuild their credit. Much like a secured card, you’ll need to make a deposit when you apply for a so-called credit-builder loan.
• Focus on your open accounts. If you have a mortgage, student loan, auto loan, or line of credit, making your payments on time will help build up your credit score. That will make it easier to get approved for a credit card.

Why was I denied for a secured credit card?

The most common reasons people are denied for a secured credit card include having a bankruptcy or tax lien on their credit report, not having enough income to meet their monthly obligations, and having an extremely low credit score. Past delinquencies with the issuing bank, current delinquencies anywhere, and invalid application information could all be reasons as well.

The specifics vary by card, though. So, if you were denied for a secured credit card, don’t lose hope. Just apply for one of the several secured cards with no credit check, and manage your account responsibly once you’re approved. You can also sign up for WalletHub’s free credit analysis for additional help getting your credit score back on track.

You can get declined for a secured credit card, just like any other credit card. But it’s a lot less likely because there are fewer requirements to meet, seeing as secured cards are designed for people with limited or bad credit. You will be rejected for a secured credit card if you are not at least 18 years old, don’t have a valid U.S. mailing address, or don’t have enough money for both a security deposit and monthly bill payments. Those standards apply to all secured cards. You also need a Social Security number or tax ID number in most cases. But if you are denied for a secured card, you can try getting a joint credit card or become an authorized user on someone else’s account.

Even with secured credit cards, most issuers still check your credit, and being denied can happen, if you have red flags on your credit report like bankruptcies, or a history of missed payments. This situation can easily be avoided if you apply for a secured credit card with a bank you’ve already built a relationship with (maybe try your luck with credit unions too). Or, you can apply for a secured card that doesn’t do a credit check.

Hopefully you won’t have to find out. Just be careful if…

• You don't have an income that can be verified;
• You don't demonstrate the ability to repay the debt;
• You don't provide the funds for the required deposit.

Those are the top reasons why you might be denied for a secured card.

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I just keep trying  to apply for other offering credit cards

What you should do next really depends on the card that denies you and the stated reason for rejection. Some cards (like Discover it secured) won't take you in if you've got a bankruptcy. Even Opensky can reject you if they can't verify your identity. No card is 100% guaranteed approval. But if you get rejected for a secured card, you’ll probably have better luck applying for another one, or making sure you can verify your identity and mailing address.