What are the best credit cards for a 400 credit score?

The fastest ways to improve your credit score are to pay down your balances, dispute incorrect information on your credit report, make more frequent payments, and reduce credit utilization. Credit utilization (how much of your credit limits you use each month) contributes to a portion of your credit score that accounts for 20% - 30% of your overall score. So, an adjustment there can result in a big credit boost pretty quickly. Similarly, you can dispute incorrect information with a quick online request or phone call. You won’t always get an immediate credit score increase, but correcting errors on your credit report is a great place to start.... read full answer

There are a few other ways to increase your credit score quickly, from becoming an authorized user to increasing your credit limit. They may not all be equally effective for everyone, as it can take years to build a consistently good or excellent credit score. In fact, some strategies could send your credit score in the wrong direction before leading to an increase. For example, requesting a credit limit increase can result in a hard inquiry that damages your credit a bit in the short-term, but having more credit available could produce long-term gains if used responsibly.

Here’s how to improve your credit score fast:

1. Pay down your balances. If you aren’t eligible for a credit limit increase, focus on paying down existing debt. Paying down a large chunk of debt at once will help your credit utilization ratio and bump up your score. If you can’t make a large payment all at once, try to pay more than just the minimum monthly amount. If you have multiple debts, start by making payments on the debt that has the highest interest rate so you can limit interest charges.
2. Dispute incorrect information on your credit report. You should file a dispute for any incorrect negative info on your report. Once the dispute goes through, incorrect items will drop off your file, and your score should improve. You may have to wait 30 days for the credit bureau to review your dispute before you see any changes.
3. Make more frequent payments. Credit utilization is calculated based on the statement balance on each of your credit cards. You can reduce these balances, thus decreasing your credit utilization and increasing your credit score, by making payments before the end of each billing period. Then, pay off the remaining balance by the due date to avoid interest charges and credit-score damage.
4. Become an authorized user. If you’re just starting out, or your credit report has a string of negative marks, a good move would be to become an authorized user on someone else’s credit card and build your credit over time. Just make sure the primary holder is responsible and pays their bills on time.
5. Add new payments to your credit file. There are new services that can add positive information, like on-time utility payments, rent payments, and positive bank balances to your credit report. Not all of these programs apply to all credit bureaus, and some cost money to utilize, but they could boost your credit score over a few months.
6. Increase your credit limit. A higher credit limit can reduce your credit utilization ratio, assuming your spending does not increase. The only potential problem is that asking for a credit limit increase usually results in a hard credit inquiry, which would temporarily hurt your credit score a bit. But if you get a credit limit increase without asking, or you have a few months before you need the highest credit score possible, a higher limit could definitely help.

Everyone’s credit situation is different, so not every option will be relevant or available to you. The best way to find out exactly what you can do to quickly improve your score is to check out the personalized advice in the Credit Analysis section of your WalletHub dashboard.

One of the easiest unsecured cards to get approved for is the Credit One Bank® Platinum Visa® for Rebuilding Credit. You can get approved for it even with bad credit. This card offers a $300 starting spending limit. And you can use it wherever Visa is accepted.

Easiest Unsecured Credit Cards to Get Approved For

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.... read full answer

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​.

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. ... read full answer

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.