What are some good credit cards for fair credit with no deposit?

This question is about Credit Cards for Fair Credit

Tom Lipkis, Retired Economy Teacher

@cindercard07/02/18

Permalink Report

Some good credit cards for fair credit with no deposit are the Capital One Platinum Credit Card and the Capital One QuicksilverOne Cash Rewards Credit Card. The QuicksilverOne Card gives 1.5% cash back on every purchase but has a $39 annual fee. You get the opposite with Capital One Platinum. It has a $0 annual fee but no rewards. Both cards have high APRs.

Capital One Platinum and QuicksilverOne each offer a minimum starting credit limit of $300. They also share a feature where you may get access to a higher credit line after making your first 5 payments on time. Plus, Capital One cards don’t have foreign transaction fees.

Argan Exsar, Member

@argan_exsar08/24/18

Permalink Report

If you’re into online shopping, you can’t go wrong with the Amazon.com Store card. Yes, you are limited to purchases on amazon.com. But if you’re a Prime member, you’ll get 5% cash back on all of your purchases. There’s a $0 annual fee, too, though you’ll have to pay $119 a year for a Prime membership to get the 5% back benefit. You’ll also get a $10 Amazon.com gift card loaded to your Amazon account after approval.

People also ask

What is an average credit score? And what is a bad credit score?

Below is a rough breakdown of the credit score range (there are 3 major reporting companies and they do not all follow these exact numbers). Depending upon what site/company/government entity you listen to, the average credit score is anywhere from 625-750.

Excellent Credit: 750+
Good Credit: 700-749
Fair Credit: 650-699… read full answer

Poor Credit: 600-649

Bad Credit: below 600

To increase your credit score, start with these simple steps:

1. Make sure all of your debts are paid on time every month

2. Review your credit report to ensure there is nothing on there that shouldn't be

3. If you are in major debt, call the creditors and ask for them to lower the monthly payment, forgive some of the debt, or work out a payment plan that you can actually afford.

Good luck!

P.S. WalletHub offers an awesome (and FREE) credit reporting tool at https://wallethub.com/free-credit-score/ so check it out!

show less

What's the easiest unsecured credit card to get approved for?

The Fingerhut Credit Account is the easiest unsecured card to get. But it won’t suit everyone’s needs. Fingerhut is an online marketplace, and its card can only be used to make purchases on the site. So while it will give you an unsecured line of credit, it won’t really help you cover emergency expenses.… read full answer

If you’re looking for a card that can be used for anything, the Credit One Bank® Platinum Visa® for Rebuilding Credit is your best bet. You can get approved for it with bad credit. It offers a $300 starting spending limit. And you can use it wherever Visa is accepted.

Those aren’t your only options, though. WalletHub’s editors compared all of the unsecured credit cards in our database of 1,000+ offers. And we selected our favorite easy-to-get offers.

Here are the easiest unsecured credit cards to get:

Overall: Fingerhut Credit Account

Rewards: Credit One Bank® Platinum Visa® for Rebuilding Credit

Small Business: Capital One® Spark® Classic for Business

Limited Credit: Petal® Visa® Credit Card

Students: Deserve® Edu Mastercard for Students

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.

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.

show less

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s alone. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.