The best secured credit card with no credit check is the OpenSky Secured Visa Credit Card because it has the lowest annual fee, at $35. There are a total of four secured credit cards with no credit check: OpenSky Secured Visa, Green Dot primor Visa Gold Secured, Green Dot primor Visa Classic Secured, and Applied Bank Secured Visa Gold Preferred. They’re all pretty similar, too.
The annual fees on secured credit cards with no credit check range from $35 to $49 per year. All of the cards require a $200 security deposit. And they all report information to the big 3 credit bureaus each month. So any of them can help you immediately begin rebuilding your credit.
It’s important to note, however, that even a secured credit card with no credit check has some approval requirements. You have to be at least 18 years old, for one thing, and you need enough money for the refundable security deposit as well as monthly bill payments.
Here are the best secured credit cards with no credit check:
Before you apply for a secured credit card with no credit check, make sure you actually need it. Even secured cards that require a credit check are pretty easy to get. They’re meant for people with bad credit. And the refundable security deposit you place reduces the risk for issuers.
Individual issuers may have specific requirements that rule some people out. For example, you can’t get the Capital One Secured Mastercard or the Discover it Secured Card with a non-discharged bankruptcy on your credit report. But there are plenty of others whose main requirement is that you have enough money to fund the security deposit. And while they may do a credit check, most applicants should still get approved.
The hard inquiry that comes with a credit check shouldn’t be too big of a deal, either, if you end up opening an account. The score damage will be temporary. And you won’t be able to qualify for any worthwhile loans until you improve your score anyway. So if you don’t need the best possible score right now, taking a short-term hit to achieve long-term gains is the way to go.
Finally, if you’re nervous about getting rejected, you can check for pre-approval before applying. Pre-approval doesn’t mean you’re guaranteed an account. But it is a sign that your odds of approval are extremely high. If after all that you’re not confident in your ability to get approved, you can always go for a secured credit card with no credit check.