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.
The easiest unsecured credit card to get is the Fingerhut Credit Account because it doesn’t require a checking account to get approved, unlike most credit cards. And even customers who don’t get approved for the card right away can enroll in Fingerhut’s FreshStart program. You make a purchase, pay it off over time to demonstrate responsibility, and then graduate to a Fingerhut Credit Card. The downside to the card is that it comes with a high APR of 29.99%, and it’s only usable for Fingerhut purchases.
You don't have a lot of options there, but I think the Fingerhut credit card is pretty easy to get approved for. And Credit One Bank also had a couple of unsecured credit cards for people with poor credit.
Yes, you can get an unsecured credit card with a 500 credit score, though it’s probably not the best idea. It’s harder to get approved for such a card, and it typically involves high fees, high interest rates, and little spending power.
Unsecured credit cards for a 500 credit score are for people with bad credit, and they’re only recommended for emergencies. It’s much easier and cheaper to apply for a secured card.… read full answer
The best unsecured credit card to rebuild credit with is the Credit One Bank® Platinum Visa® for Rebuilding Credit because it has a reasonable annual fee, gives 1% cash back on eligible purchases, and starts cardholders off with a $300 minimum credit limit. It also accepts people with bad credit.
An unsecured credit card is one that does not require a security deposit or any other collateral to open the account. In addition, rebuilding credit generally means you have a credit score of less than 640. In that case, most unsecured cards that you may qualify for will be costly.
An unsecured credit card is typically not the most cost-effective way to rebuild credit. Because you’re considered a high credit risk, your options are very much limited. In addition, your spending power will be greatly reduced by numerous fees and high interest charges.
A better option to rebuild credit would be to open a secured credit card account. Your odds of approval will be greater because you’ll be setting your own credit limit with a refundable security deposit, usually starting at $200. Secured cards tend not to have one-time and monthly fees, so they end up costing you less in the long run. You’ll also get your deposit back in full when you close your account with no unpaid balance.
A credit score of at least 550 to 650 is needed for an unsecured credit card in most cases, though it’s possible to get approved for an unsecured card with a lower score or even no credit score. For example, some of the best beginner and student cards are unsecured and will approve applicants with little or no credit.… read full answer
If your credit score is below the 550 to 650 threshold needed to get a good unsecured card, you’d be much better off applying for a secured card such as the Discover it® Secured Credit Card or the Secured Mastercard® from Capital One. They’re easier to get than unsecured cards because you’re putting up your own money, typically a minimum deposit of $200, to secure the account.
While you still have bad credit (which I did at one time), you are going to have to pay a fee to get an unsecured card. And I paid those fees. I never, even with my 537 credit score - never had a secured card.
I went with the cards for bad credit, with fees and high interest, and very low limits. I charged, and immediately paid them off. It is now two years later, and I have any card that I want - and a 749 credit score. I would never get a secured card - the unsecured are too easy to get. The high fees are your cost of rebuilding your credit... just my two cents worth.
I know a security deposit sucks, but it's really not worth getting an unsecured card if you've got bad credit. If you're still sure you wanna risk huge fees, I know Capital one and Fingerhut had unsecured credit cards for bad scores.
Citibank... Secured Credit Card. No Fee. Got it with 550. Now at 599 after a month!
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