How can I get a credit card with bad credit?

You can get a credit card with bad credit by applying for a secured credit card or an unsecured credit card for bad credit. Secured cards have lenient credit score requirements, making them accessible even if you have bad credit. But you will have to place a refundable security deposit that will serve as your credit limit.

Some secured credit cards don’t even check an applicant’s credit history, which means there’s no hard pull to hurt your credit score further. Plus, past mistakes won’t prevent you from getting approved. Secured cards also charge much lower fees than unsecured cards for bad credit, which are typically worthwhile for emergency borrowing only.

How to Get a Secured Credit Card with Bad Credit

1. Compare secured credit card offers:

Shopping around will help you find the card with the lowest fees, lowest deposit requirement, and highest approval odds.

2. Fill out an application:

Applying online is best because you get a decision sooner. Some secured cards even let you check for pre-approval.

3. Place your security deposit:

You’ll have to submit your security deposit either when you apply or after approval, but before opening an account. You can usually fund the deposit with a transfer from a bank account or prepaid card. The funds will be returned if you don’t get approved or when you close your account (minus any unpaid balance).

4. Get approved:

It’s possible to get rejected for a secured credit card, but not likely.

Getting a credit card with bad credit can be tricky, but it’s crucial to open an account as soon as possible in order to begin repairing your credit reputation. A secured card allows you to do that, having the added benefit of helping you avoid being rejected repeatedly, which would only make matters worse.

Notable Credit Cards to Get with Bad Credit

You can also take a look at our editors’ latest picks for the best secured credit cards and best credit cards for bad credit to weigh your options. No matter which secured card you choose, paying your bill on time every month will add positive information to your credit reports, which will help cover up past mistakes. However, sometimes that’s not enough.

Key Things to Remember About Unsecured Cards for Bad Credit

• Some people with bad credit need a credit card with no security deposit to cover emergency expenses. In that case, an unsecured credit card for bad credit is your only option.
• You won’t have much of a selection when shopping for an unsecured card with bad credit, unfortunately. You won’t get too much extra spending power, either, because high fees will initially consume much of your credit line.
• It’s possible to get approved for an unsecured card even if you have bad credit. Just compare your options and double-check the eligibility requirements in their terms and conditions to make sure nothing in your background rules you out.

So, to recap, a secured credit card is your best bet if getting approved and beginning to rebuild your credit as soon as possible is your top priority. However, if you need an emergency loan, you’ll have to make do with a costly unsecured card for bad credit.