Credit cards allow you to make purchases, pay your bills, and arrange travel. Many credit cards also offer cash back, points, or miles for your purchases, which can help you save money. Credit cards can help you build and maintain a high credit score. What credit card is the easiest to get if you have poor credit or a low credit score? We’ll take a closer look at the cards that may be available to you.
- When making credit card approval decisions, credit card companies rely heavily on credit scores.
- Secured credit cards require a cash deposit. Unsecured credit cards don’t need a deposit.
- You can get approved for credit cards with poor or no credit, but you might have to pay higher APRs or fees.
- Secured credit cards offer lower interest rates, reward programs, and other features than unsecured cards.
The requirements for approval by credit card issuers vary. These factors are generally considered when you apply for a credit card.
- Credit score
- Your income
- Your employment
- Your monthly rent payment or mortgage payment
This information gives card issuers a good idea of your ability to repay what you have spent on a credit card. Credit gives card companies can perform a hard inquiry on your credit reports to learn more about your credit history. This can reduce your credit score by a few points.
Which credit card is the easiest to get approved for?
Each person will have a different credit card application process. It all depends on your credit score as well as the other factors mentioned above. You may also need to consider whether you are eligible for the following credit cards:
- You are a student
- You don’t have any credit or a low credit file
- Bad or poor credit
There are special types of credit cards that you can get if any of these apply to your situation. These include starter credit cards, student credit cards, and secured cards.
Credit cards for students
Student credit cards best serve students who are just starting to build their credit history. These cards may offer rewards and are usually geared towards purchases students spend most of their money on, such as gas or dining out.
If you don’t have a credit history or poor credit score, a student credit card may be easier than a regular credit card. To get a student card, you must be 21 years old, according to the federal CARDAct. However, you can still apply if you have enough income or a cosigner that is at least 21.2
Credit cards for starters
These cards are designed for those just getting started with credit but are not necessarily students. These cards have higher annual fees and a higher APR.
Secured credit cards
Secured credit cards are just like unsecured cards, but they need a cash deposit to open. The deposit usually doubles your credit limit. A standard secured credit card will require you to submit a credit check to be approved.
After using a secured credit card for a while and you’ve proven that you are responsible with your credit, you might be eligible to upgrade to a regular, unsecured card.
What is the easiest credit card to get with no credit or thin credit?
A lack of credit is a sign that you don’t have any credit history. Although you may have a small credit file, it doesn’t mean that you have enough credit to build a credit rating.
If you have either of these conditions, credit card companies could consider you “invisible” when applying for credit.
A starter or secured credit card is the best choice. You might be eligible for the following cards:
OpenSky Secured Visa:
This is a no-credit-check card and secured credit card. Your credit limit can be set by cash depositing $200-$3,000. All account activity will then be reported to the major credit bureaus.
First Progress Platinum Elite Security Secured Mastercard:
To be approved for the First Progress Platinum Elite Elite Secured MasterCard, you don’t need to have a credit history or have a minimum credit score. The card can be accepted anywhere in the country with a security deposit.
Deserve Education Mastercard for Students:
Students don’t need a Social Security Number to apply for the DeserveeDU Mastercard. This card could prove useful for international students.
Which credit card is the easiest to get with fair credit?
You might be eligible for a variety of credit cards if you have fair credit. A score of between 580-669 on the FICO credit rating scale is considered fair credit.
These are the best credit cards for people with good credit.
Capital One Platinum Mastercard:
This Mastercard is for people with good credit who want to improve their credit. The cards come with access to CreditWise credit monitoring and a $0 annual fee.
Discover It, Secured Card:
These cards can be used to help build or rebuild credit. Although a security deposit is required, it can be refunded. The card comes with a cash-back rewards program.
Credit One Platinum Reward Visa:
This Visa is for those with good credit and who want to earn rewards on purchases. This card has an annual fee and a higher interest rate, so it could be costly to carry a balance.
What are the easiest unsecured credit cards to get approved for?
Open, unsecured credit cards do not require a cash deposit. If your credit score is not in the good or excellent range, you can get unsecured cards.
These unsecured cards are available for those with poor credit ratings or no credit.
Credit One Bank Platinum Visa:
The Credit One Bank Platinum Visa gives cashback without requiring a security deposit. However, there is an annual fee for this card.
These unsecured credit cards are for those with poor credit. These cards can report to all three credit bureaus. This can help you build a stronger credit history. An initial fee is charged to open an account.
Petal 2 Visa:
These cash-back rewards cards offer greater credit limits and no fees. The cards are free to use for credit building or rebuilding.
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I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go. I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.