Unsecured Credit Cards

The best unsecured credit card for no credit is the Capital One Platinum Card because it has a $0 annual fee, a $0 foreign fee, and a $300 minimum credit line. Capital One Platinum does not have rewards, but no annual fee is more important when you’re first starting out with credit. If you’re willing to pay for better perks, consider the Capital One QuicksilverOne Card, which has a $39 annual fee and gives 1.5% cash back on all purchases.

If you’re in college, you can get a student credit card. Student cards are unsecured credit cards for no credit that are available only to college students. They tend to give better terms than non-student unsecured credit cards for no credit because issuers predict college graduates will have larger incomes. One of the best options is Discover it Student Chrome. It gives 2% cash back on the first $1,000 you spend each quarter at gas stations and restaurants, plus 1% back on everything else. On top of that, Discover matches all the cash back you earn during your first year. And they give you $20 for every year you earn a 3.0 or higher GPA.

Here are the best unsecured credit cards for no credit:

• Best for no annual fee: Capital One Platinum. $0 annual fee. $0 foreign transaction fee. 22.99% (V) regular APR.
• Best for cash back: Capital One QuicksilverOne. $39 annual fee. $0 foreign transaction fee. 1.5% cash back on all purchases. 22.99% (V) regular APR.
• Best for business: Capital One Spark Classic for Business. Capital One QuicksilverOne. $0 annual fee. $0 foreign transaction fee. 1% cash back on all purchases. 26.99% (V) regular APR.
• Best for student cash back: Discover it Student chrome. $0 annual fee. $0 foreign transaction fee. 2% cash back on the first $1,000 at gas stations and restaurants per quarter. 1% cash back on all other purchases. First year’s cash back matched. 0% APR for 6 months on purchases. 12.99% - 21.99% (V) regular APR.
• Best for student travel: Bank of America Travel Rewards for Students. $0 annual fee. $0 foreign transaction fee. 25,000 bonus points when you spend $1,000 in the first 90 days. 3 points per $1 spent at the BofA Travel Center and 1.5 on all other purchases. 10% points bonus when you have a BofA checking or savings account. 0% APR for 12 months on purchases. 14.99% - 22.99% (V) regular APR.
• Easiest approval: Credit One Bank Platinum Visa for Rebuilding Credit. $0-$99 annual fee, depending on creditworthiness. 3% foreign transaction fee. 1% cash back on all purchases. 19.49% - 25.49% (V) regular APR.

It’s pretty easy to qualify for unsecured credit cards for no credit, provided that you have a steady income. But if you want the absolute highest chances of approval, you may want to consider secured cards. They help you build credit just as well as unsecured cards, but you have to put down a security deposit to open them.

People with bad credit don’t have too many options, but you do have two different types of credit cards to choose from: secured credit cards and unsecured credit cards for bad credit. And the decision comes down to whether you need an emergency loan.

• If you need to borrow money for an emergency, you’ll have to find an unsecured card for bad credit. Be careful, though. Such cards are known to charge high fees and provide very little spending power.
• If credit-improvement is your main goal, get a secured credit card. Secured cards have the highest approval odds, and they’re much cheaper than their unsecured counterparts. If you don’t have the $200+ needed for a secured card’s deposit, you may just want to wait until you’ve saved enough. While opening an unsecured credit card for bad credit might be the quicker route, it will likely turn out to be the more expensive one as well.

If you don’t have the $200+ needed for a secured card’s deposit, you may just want to wait until you’ve saved enough. While opening an unsecured credit card for bad credit might be the quicker route, it will likely turn out to be the more expensive one as well.

An unsecured credit card is a credit card with a credit line that is not "secured" by collateral such as a refundable security deposit. In contrast, secured credit cards require a deposit of at least $200-$300, and the deposit amount becomes the account’s spending limit. Most of the time, the phrase "credit card" refers to an unsecured credit card.

Types of unsecured credit cards

More than 9 in 10 credit card offers are unsecured, with no deposit needed. So, it’s no surprise there are lots of slightly different types of unsecured credit cards. There are unsecured cards for each credit rating, from excellent credit to bad credit. There are unsecured credit cards for students, small business owners and everyone else. Some reward cardholders for making purchases, while others offer low introductory APRs. Some have low fees; others don’t.

Given the variety, finding the right card for your needs is not as simple as just setting out in search of an unsecured credit card. You need to compare the available offers based on the features – other than security deposit requirements – that figure to have the greatest impact on your life. For your convenience, we’ll highlight a handful of the best, most popular unsecured card offers below.

Popular Unsecured Credit Cards:

• Chase Sapphire Preferred® Card - Good Credit
• Wells Fargo Cash Wise Visa® card - Good Credit
• Capital One® QuicksilverOne® Cash Rewards Credit Card - Limited History
• Capital One® Platinum Credit Card - Limited History
• Credit One Bank® Platinum Visa® for Rebuilding Credit - Bad Credit

Secured or unsecured?

Deciding between an unsecured credit card and a secured credit card is a matter of creditworthiness. People with bad credit or limited credit history will benefit most from a secured card because they may not be able to get good terms with an unsecured card. Few banks and credit unions are willing to take on the risk of lending to applicants with badly damaged credit. As a result, there is a limited selection of unsecured credit card offers for people with below-average credit, and the cards that are available can be pretty expensive. Credit cards for students with no credit are a notable exception, though.

Given that borrowers basically prepay for their purchasing power with secured credit cards, such cards offer higher approval odds and charge lower fees than unsecured cards for poor credit. Secured credit cards also report to the major credit bureaus each month, and they look exactly like unsecured credit cards on credit reports. That means using a secured card responsibly can help you build or rebuild your credit just like an unsecured credit card. To learn more, check out our secured vs. unsecured credit cards comparison.

The best Wells Fargo unsecured credit card is the Wells Fargo Cash Wise Visa Card because it has no annual fee, a $200 bonus for spending $1,000 in the first 3 months, and 1.5% cash back on all purchases. Wells Fargo also has a variety of other credit cards that cater to different lifestyles and financial goals. For example, the Wells Fargo Platinum Visa doesn’t have rewards but gives 0% APRs for 18 months on purchases and balance transfers.

Wells Fargo has no unsecured credit cards for bad credit. Almost all Wells Fargo unsecured credit cards require at least good credit (a score of 700+) to qualify. The only exception is the Wells Fargo Cash Back College Card, which accepts applicants with fair or limited credit. It has an intro APR of 0% for 6 months and no annual fee. So it might be a good way to start building your credit up, if you’re a college student.

Here are the best Wells Fargo unsecured credit cards:

• Best for students: Wells Fargo Cash Back College Card. Limited credit accepted. No annual fee. 0% APR on purchases and transfers for 6 months. 3% cash back on gas, grocery, and drugstore purchases for the first 6 months. 1% cash back on everything else.
• Best for travel and dining: Wells Fargo Propel American Express Card. Requires good credit. No annual fee. 0% APR on purchases and transfers for 12 months. 30,000 bonus points for spending $3,000 in the first 3 months. 3 points per $1 for dining, gas stations, and travel. 1 point per $1 on all other purchases.
• Best for 0% APR: Wells Fargo Platinum Visa Card. Requires good credit. No annual fee. 0% APR on purchases and transfers for 18 months. 3% transfer fee. This card does not offer rewards.
• Best for cash back: Wells Fargo Cash Wise Visa Card. Requires good credit. No annual fee. 0% APR on purchases and transfers for 12 months. $200 cash bonus for spending $1,000 in the first 3 months. Unlimited 1.5% cash rewards on purchases.
• Best for gas rewards: Wells Fargo Rewards Card. Requires excellent credit. No annual fee. 0% APR on purchases and transfers for 15 months. 3% transfer fee. 5 points per $1 spent on gas, groceries and drugstore purchases for the first 6 months, up to $12,500. 1 point per $1 spent on everything else.
  
  

Wells Fargo offers a large selection of unsecured credit cards, with a variety of benefits. All you have to do is decide which perks are most important to you.

If you have bad credit, you can use the Wells Fargo Secured Card to rebuild your credit standing pretty inexpensively. It has an annual fee of $25 and requires a refundable security deposit of $300 or more. Secured cards report to the credit bureaus and help build credit just as well as unsecured cards do. If you prove yourself by paying on time, you can work toward getting a Wells Fargo unsecured credit card as you build your credit.

There is no Chase unsecured credit card for bad credit available at this time. In fact, Chase does not offer any starter credit cards, unsecured or secured, for people with less than good credit.

The majority of Chase credit cards are designed specifically for customers with good to excellent credit. Chase offers some of the most sought-after credit cards on the market. Those include the Freedom, Freedom Unlimited; and the Sapphire Preferred and Reserve cards. All require an excellent credit score to qualify.

The Ink Business Preferred and Cash business cards are among the best in its class, and the co-branded IHG Rewards Club Premier is a highly-regarded hotel rewards card.

Simply put, if you’re in the market for an unsecured credit card for bad credit, Chase would be one of the least likely places to begin your search. There are plenty of options out there from other issuers, though. First Access VISA, Indigo Mastercard are among the cards targeted for people with bad credit.

But an unsecured credit card for bad credit can be costly. Annual fees are inevitable, and some cards, such as the First Access VISA charge a $6.25 monthly fee after the first year.

Unless you have your heart set on an unsecured card, you’d likely be better off with a secured card. The Capital One Platinum and Discover it Secured cards require a deposit to establish your line of credit, and may provide an opportunity to transition to an unsecured credit card if you consistently make your payments on time. Plus, you’ll receive your deposit back in full when you close your account in good standing.

Most Bank of America credit cards are unsecured, with no deposit required. There are options with cash back, travel rewards, low APRs and more.

Here are the best Bank of America Unsecured Credit Cards:

• Bank of America® Travel Rewards Credit Card for Students
• Bank of America® Cash Rewards credit card
• BankAmericard® credit card
• Bank of America® Travel Rewards credit card
• Business Advantage Cash Rewards Credit Card
• Bank of America® Premium Rewards® credit card

To make sure you find the right credit card terms for your needs, check out other popular BofA cards as well as major unsecured credit cards.

Discover’s “unsecured” credit cards do not require a security deposit. Nearly all Discover cards are unsecured, so there are options to choose from whether you’re interested in cash back, travel rewards, low APRs, low fees or building credit. Just make sure to check your latest credit score as well as the cards’ approval requirements before you apply. Some unsecured Discover cards are easier to get than others.

Best Discover unsecured credit cards:

• Discover it® Miles
• Discover it® chrome
• Discover it® Student chrome
• Discover it® Student Cash Back
• Discover it® Cash Back
• Discover it® Balance Transfer

If you’re looking for some good unsecured cards for bad credit, WalletHub has a comprehensive list to help you out.

You cannot get an unsecured card with no credit check. You may receive offers for cards that guarantee approval, but those are predominantly for secured cards, and will require an upfront deposit. Guaranteed approval may also actually mean “pre-approved.”

The caveat is that to have a shot at receiving the card. you will still actually have to apply. And if you submit an application, you are giving the bank permission to permission to check your credit report.

Regardless of your credit profile, if you’re going to apply for an unsecured credit card, a credit check is necessary. An issuer has to have some indication of your ability to pay back the debt, and the information in your credit report will assist them in making that assessment. Even if you’re a student, or have limited credit, an issuer will need to know that before they’ll extend you any credit.

And while there is an line of unsecured credit cards available for people with bad or limited credit, approval is not guaranteed without a credit check. That might seem to defeat the purpose, providing customers an opportunity to rebuild or establish credit. But there are instances that may surface during a credit check that would prompt an issuer may reject an application.

If you have a pending bankruptcy on your credit report, you will have little chance of getting approved for an unsecured credit card, and likely most secured cards. You might still be in the running for a secured credit card with no credit check.

The Applied Bank Secured Visa Gold Preferred, OpenSky Secured Visa, and Green Dot primor Secured Visa Classic all promote no credit check. You’ll have to submit a deposit of at least $200 to set your credit limit, and some of that limit will be eaten up by annual fees.

In terms of selecting a specific card, you can check out unsecured options here, and the Credit One Visa in particular is pretty decent. But even decent is expensive when it comes to unsecured credit cards for people with bad credit, and your annual fee could be as high as $75 the first year and $99 thereafter, so you may also want to consider the Capital One Secured MasterCard, which has the potential to be “partially secured,” providing a credit line as high as $200 for a deposit as low as $49.

Some good credit cards for fair credit with no deposit are the Capital One Platinum Credit Card and the Capital One QuicksilverOne Cash Rewards Credit Card. The QuicksilverOne Card gives 1.5% cash back on every purchase but has a $39 annual fee. You get the opposite with Capital One Platinum. It has a $0 annual fee but no rewards. Both cards have high APRs.

Capital One Platinum and QuicksilverOne each offer a minimum starting credit limit of $300. They also share a feature where you may get access to a higher credit line after making your first 5 payments on time. Plus, Capital One cards don’t have foreign transaction fees.