Mark Towers, WalletHub Credit Card Analyst
@MarkTowers
The best no annual fee credit card for bad credit is the Bank of America® Travel Rewards Secured Credit Card because it rewards you with 1.5 points per $1 spent on all purchases. It does require a security deposit of $200, which will act as your credit limit, but that’s fully refundable.
Notable Credit Cards for Bad Credit with No Annual Fees
The best no annual fee credit cards for bad credit are usually secured credit cards. Even though these cards require a security deposit, they can still be a lot cheaper in the long run. That's because unsecured credit cards for damaged credit usually charge annual fees.
Popular Credit Cards for Bad Credit from Our Partners
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No Deposit
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No Credit Check
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Rewards
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Partially Secured
Abigail Mitchell, Member
@abby_mitch
I recommend Discover it Secured, followed by anything from Capital One, Bank of America, and U.S. Bank.
Jack Bennett, Member
@jbennett_23
Discover it Secured is a good one. My other favorites are:
- Capital One Platinum Secured: Flexible deposit ($49-$200), no annual fee, and potential CLI in 6 months.
- Chime Credit Builder: No credit check, but requires a Chime account (safe for absolute beginners).
- Petal® 1 Rise Visa: Unsecured, no fee, uses banking history instead of just credit scores.
Avoid anything with "processing fees" or monthly charges - they’re traps.
David Patel, Member
@dpatel_tech
I’m partial to the Discover it® Secured Card given the rewards - 2% cash back at gas stations & restaurants (up to $1k/quarter) + 2X rewards the first year. But any secured card from Capital One, US Bank or Discover is great.
People also ask
What are the best credit cards for bad credit with no processing fee?
The best credit card for bad credit with no processing fee is the Credit One Bank® Platinum Visa® for Rebuilding Credit. Cardholders can earn 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services. This card has an annual fee of $75 intro 1st yr, $99 after based on your overall creditworthiness, but there’s no one-time fee for application processing. Although some unsecured credit cards for people with bad credit do charge processing fees, there are at least a few options without them.
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read full answer by Sydney Garth, Credit Cards ModeratorHow do I get a $500 credit card limit with bad credit?
The best way to get a $500 credit card limit with bad credit is to open a secured credit card account and put down a $500 security deposit. With a secured card, your credit limit typically matches the amount of your security deposit. Most secured cards require a refundable deposit of at least $200-$300. A bad credit score will make it difficult to get a $500 credit card limit without placing a $500 deposit.
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read full answer by Jane Cogli, WalletHub Credit Card AdvisorWhat are the best credit cards for a 550 credit score?
One of the best credit cards for a 550 credit score is the opensky® Plus Secured Visa® Credit Card because it has a $0 annual fee and there’s no credit check when you apply, so approval is almost guaranteed. You just need $300 for a refundable security deposit and enough income to make monthly payments. This card also reports to all three major credit bureaus (Equifax, Experian, and TransUnion) every month, which is your ticket to a better credit score.
However, this isn’t...
read full answer by William Memphis, WalletHub Credit Card AnalystDid we answer your question?
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