Adam McCann, Financial Writer
The best credit card for a 400 credit score is the OpenSky® Secured Visa® Credit Card. This card has no credit check when you apply, no processing fee and a low annual fee of $35. OpenSky also reports to the major credit bureaus each month.
The Capital One Quicksilver Secured Cash Rewards Credit Card is another good option because it has a $0 annual fee and gives 1.5% cash back on all purchases.
Some of the Best Credit Cards for a 400 Credit Score in 2023
Ways to Get a Credit Card with a 400 Credit Score
- Apply for a secured credit card: Secured credit cards are the best option for a 400 credit score as they are easy to get and help you build credit inexpensively. You will have to put down a refundable security deposit (usually around $200), which will serve as your credit limit.
Secured cards are also the cheapest cards for rebuilding credit as they usually come with no annual fees.
- Get an unsecured card: There are very few unsecured cards for a 400 credit score, since it's toward the low end of the bad credit range, which goes from 300 to 639.
But if you really need to borrow a bit of money, the Credit One Bank® Platinum Visa® for Rebuilding Credit is the best option because it has a $300 starting credit limit and gives 1% cash back on eligible purchases.
- Become an authorized user: An alternative to getting your own credit card is to become an authorized user on someone else's card. You will share the credit limit, and the primary cardholder will be responsible for making payments. Information about the card will show up on your credit report, so it's a good opportunity to build credit.
It is worth mentioning that the two most important things to do with a credit card for a 400 credit score are to pay your monthly bills on time and keep your balance low. It’s also best to pay in full each month. If you do those things, you should see some significant improvement in your score within 12 to 18 months. You can track your progress for free on WalletHub.
When your credit score rises to the 640-699 range, you'll have fair credit. At that stage, you should be able to qualify for a good unsecured credit card, such as the Capital One QuicksilverOne Cash Rewards Credit Card. You'll earn 1.5% cash back on all purchases. The card’s annual fee is $39.
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