If you have bad credit or no credit, any bank that offers a secured credit card will be easier to get a credit card from than a bank that doesn’t offer secured cards. Capital One, Discover, Bank of America, Citibank, and U.S. Bank are five major banks that offer secured credit cards. These credit cards require a deposit, which becomes your credit limit. And in general, you can get a secured credit card with bad credit.
It's worth noting that any previously-existing relationships you have with banks may come in handy, too. If the bank you have a checking account with offers a credit card, that will likely be an easy bank to get a credit card from. Your established relationship with your bank gives them access to your day-to-day deposit account history, which doesn’t show up on your credit report. So that’s extra potentially good information that’s available to your bank and not to other card issuers you might apply for a credit card with.
The easiest credit card to get with bad credit is the OpenSky® Secured Visa® Credit Card because there’s no credit check required for approval. As long as you have a U.S. mailing address, proof of your identity and some income, you can get an OpenSky. It has an annual fee of $35 and requires a refundable deposit of at least $200 to “secure” the credit line. The deposit amount becomes your credit limit.… read full answer
If you’re looking for an unsecured credit card for bad credit, one of the easiest to get is the Fingerhut Credit Account. It’s a store credit card, meaning you can’t use it for anything but Fingerhut purchases. That said, the Fingerhut online store has a wide range of merchandise for sale, and the Fingerhut Credit Card will report to credit bureaus and build your credit in the process. It has a $0 annual fee.
You should be wary of credit card companies that offer unsecured credit cards to people with bad credit though. They can give you an unsecured line of credit, but most come with big fees and high interest rates. Unless you need an emergency loan, it’s better to get a secured credit card and build up your score enough to qualify for a good unsecured card.
The best unsecured credit card with instant approval, especially if you have damaged credit, is the Credit One Bank® Platinum Visa® for Rebuilding Credit. It’s easy to get approved for, even with bad credit, and online applicants may be approved instantly. The Credit One Bank® Platinum Visa® for Rebuilding Credit also has a $300 minimum credit limit, does not require a security deposit, and offers 1% cash back on select purchases. This card comes with an annual fee of $75 intro 1st yr, $99 after.… read full answer
Most credit cards offer the possibility of instant approval when you apply online. The application typically takes around 10 minutes to complete, and you could get a decision in a few minutes or less. The higher your credit score, the more likely you are to get a quick decision.
Instant approval is never guaranteed. To give yourself the best possible chance, apply online for cards at or below your credit level. And make sure everything on the application is complete and accurate. If an issuer is unable to verify your identity, you may have to provide additional information. This could add several days to the application’s processing.
There is no minimum credit score to get a credit card, if any credit card will do. Some credit card companies don’t even check applicants’ credit history, and the main approval requirement is that you earn more money than you spend. So it’s certainly possible to get a credit card even if you have a very low credit score or no credit score at all.… read full answer
But there is a difference between getting approved for a credit card in general and getting one of the better offers.
The credit score needed for credit card approval ultimately depends on which specific card you want to get. Most of the time, credit card companies have a credit score tier they’re looking for, and applicants will need a score in the required tier (or higher) for a good chance of approval. The tiers are bad, fair, good and excellent.
The thing is, credit cards require scores that are a bit higher than the traditional minimum for each tier in the overall credit score range, according to WalletHub’s research. So for each credit tier, you can see a “traditional” score range and a “WalletHub recommended” score range below.
Here is the credit score needed for a credit card at each level:
One way to estimate your credit card approval odds is to check for pre-approval. Many major issuers will allow you to check for free. It won’t hurt your credit score. And you’ll get a pretty good idea of your chances. Plus, if you’re not sure what your score is yet, you can check your latest credit score for free on WalletHub. You’ll also get personalized credit card recommendations with high approval odds.
Just remember that having a qualifying credit score does not guarantee credit card approval. The credit card application process takes many other factors into account. Payment history, existing debt and income play big roles, too.
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