Guaranteed approval credit cards with $10,000 limits for bad credit don’t really exist. A secured credit card that allows you to place a very sizable deposit is the closest thing you’ll find. For example, the Wells Fargo Secured Credit Card allows you to put down as much as $10,000 and offers nearly guaranteed approval. But your spending limit equals the amount of your deposit, so it won’t help you buy something that you can’t already afford in cash.
There are a couple of important reasons why guaranteed approval credit cards with $10,000 limits for bad credit are not available. For starters, no credit card offers 100% guaranteed approval. There’s always some sort of minimum eligibility requirement that you must meet. That’s even true with secured credit cards.
Furthermore, credit cards for people with bad credit tend to have spending limits that are far below $10,000. Most unsecured cards for bad credit give you a starting limit of around $300, and fees eat into a lot of that early on. So if you have bad credit, you’re not going to find a credit card capable of financing a big-ticket purchase.
At the end of the day, getting a credit card with a specific spending limit should not be your top priority when you have bad credit. You’re unlikely to get an unsecured card with a $10,000 limit until you have excellent credit. So rebuilding your credit as inexpensively as possible is the best approach in the long run. Above all else, that means getting approved for a credit card as quickly as possible and paying your bill on time every month.
To help point you in the right direction, WalletHub’s editors compared dozens of credit cards for bad credit and picked their favorites.
Here are some nearly-guaranteed approval credit cards for bad credit with high limits:
- Wells Fargo Secured Credit Card: $300 - $10,000 limit (same as deposit amount)
- Aeromexico Secured Credit Card: $300 - $5,000 limit (same as deposit amount)
- Harley-Davidson® Secured Credit Card: $300 - $5,000 limit (same as deposit amount)
- First National Bank of Omaha Secured Visa® Card: $300 - $5,000 limit (same as deposit amount)
- OpenSky® Secured Visa® Credit Card: $200 - $3,000 limit (same as deposit amount)
- Discover it® Secured: $200+ limit (same as deposit amount)
These offers are among WalletHub’s picks for the best secured credit cards. They all can make shopping more convenient. And as long as you pay your monthly bills on time, they’ll help you improve your credit score. If you’d like some tips for how to speed up the credit-rebuilding process, you can get personalized credit-improvement advice by signing up for a free WalletHub account.