As we mentioned above, no credit card really offers guaranteed approval – even secured credit cards. Specific approval requirements vary from card the card, but the one thing that most cards seem to have in common is a rule that you can’t get approved if you have a non-discharged bankruptcy on your record. With that in mind, we reached out to the major secured card issuers for additional insight into their screening policies, which helped us identify the offers with the least onerous approval requirements.
2017’s Best “Guaranteed Approval” Credit Cards
|Card Name||One-Time Fee||Annual Fee||Minimum Deposit|
|First Progress Platinum Select MasterCard® Secured Credit Card||$0||$39||$200|
|Open Sky℠ Secured Visa® Credit Card||$0||$35||$200|
|First National Bank of Omaha Secured Visa® Credit Card||$0||$0||$300|
|primor® Secured Visa Classic Credit Card||$0||$39||$200|
|OneUnited Bank Unity Secured Credit Card||$0||$39||$250|
It’s important that you don’t get scared off by the need to place a security deposit. The deposit is fully refundable, and it is the reason why secured cards are able to offer nearly guaranteed approval. In contrast, most unsecured credit cards for people with bad credit charge expensive non-refundable fees, provide very little added spending power and are harder to get.