What are the best secured credit cards for no credit?

The best store credit card for no credit is the Fingerhut Credit Account because it has easy approval and a $0 annual fee. Aside from accepting people with no credit or even bad credit, the card doesn’t charge one-time fees or monthly fees, either. But keep in mind that you can only use it to make Fingerhut purchases.… read full answer

Most store credit cards require fair credit or better for approval. But there are, however, a number of co-branded cards for no credit.

Best Store Credit Cards for No Credit in 2023

The Fingerhut Credit Account is a good store credit card for no credit because it has a $0 annual fee and $0 monthly fees. Plus, it also comes with a one-time fee of $0. This card also reports to all three major credit bureaus, which will help you build credit. Keep in mind that this card can only be used at Fingerhut.

The Montgomery Ward Credit Account also comes with a $0 annual fee. Although it only works for Montgomery Ward purchases online or through the company’s catalogue, the Montgomery Ward Credit reports to the credit bureaus on a monthly basis. This will eventually help you build credit.

The Group One Platinum Card comes with a $0 annual fee. This card can be used exclusively on the Horizon Outlet website. It reports to credit bureaus on a monthly basis. However, this card comes with a $0 monthly fee.

If you can’t find a suitable store credit card for no credit, consider a normal credit card designed for people with limited or no credit history.

Secured credit card approval is pretty easy to come by, no matter which card you apply for. A secured card is the easiest type of credit card to get simply because you have to place a refundable security deposit, the amount of which usually becomes your spending limit. As a result, secured cards prevent you from spending more than you put down, making it less risky for credit card companies to approve people with damaged credit. And since you pretty much pre-pay for your purchases with a secured card, past payment problems should not keep you from getting approved.… read full answer

Given their safeguards, you might assume that secured credit cards offer guaranteed approval. But that’s not the case. There are certain requirements that anyone must satisfy to get a credit card.

Here are the basic secured credit card approval requirements:

• 18+ years old
• $200+ for a refundable security deposit
• Enough income for monthly bill payments
• U.S. mailing address
• Social Security number (ITIN or passport accepted in some cases)

Some secured credit cards are harder to get than others, though. Requirements vary by credit card company. And some issuers won’t approve anyone with a non-discharged bankruptcy, a tax lien or certain other types of negative records on their credit report.

But there’s a flip side to that, too. Secured credit card approval is very easy to get if you choose the right offer. A handful of cards don’t even do a credit check when you apply.

Here are the best easy approval secured credit cards:

• First Progress Platinum Select Secured Credit Card: No credit check. $200 minimum deposit. $39 annual fee. Reports to all 3 bureaus.
• OpenSky Secured Visa Credit Card: No credit check. $200 minimum deposit. $35 annual fee. Reports to all 3 bureaus.
• Applied Bank Secured Visa Gold Preferred Card: No credit check. $48 annual fee. Reports to all 3 bureaus.
• First Progress Platinum Prestige Secured Credit Card: No credit check. $49 annual fee. $200 minimum deposit. Reports to all 3 bureaus.

If you’re less concerned with easy approval than getting the best terms, you should also consider the Capital One Quicksilver Secured Cash Rewards Credit Card and the Bank of America® Unlimited Cash Rewards Secured Credit Card. Neither charges an annual fee, and both offer pretty good rewards.