The best credit card for a 500 credit score is a secured credit card. Designed specifically for people with bad credit, secured cards provide the best opportunity for someone with a credit score of 500 (or below) to rebuild their credit standing, thanks to high approval odds and monthly reporting to the major credit bureaus.
With a secured card, your odds of approval are high because you’ll have to put up a security deposit – typically starting around $200 – to open the account. The deposit serves as collateral, minimizing the lender’s risk. Your credit limit is equal to the amount of your deposit and is fully refundable when you close your account in good standing.
Here are the best credit cards for a 500 credit score:
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