- 1 Unsecured Credit Card For Bad Credit No Annual Fee
- 2 These Cards are 2017’s Best Unsecured, No Deposit Credit Cards For Bad Credit
- 3 Unsecured Credit Cards For Bad Credit or No Credit
Unsecured Credit Card For Bad Credit No Annual Fee
Credit Cards That Are Easy To Get With No Annual Fee And Credit Limit
Li Information To Help You When Applying For Unsecured Credit Cards
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These Cards are 2017’s Best Unsecured, No Deposit Credit Cards For Bad Credit
If you’ve ever tried to secure a credit card with bad credit, you’ve probably run into the issue of credit lenders expecting a large monetary deposit before they willingly offer a line of credit.
Tough financial situations often make this nearly impossible, especially with the lending limit usually matching the deposit they expect, sometimes in excess of $2,000 or more. There is an answer, however, in unsecured credit cards that do not require an up-front deposit.
Instead, they generally expect an activation fee and offer a lower credit limit. This may not sound ideal, but consider how most low-limit cards still report your activity to the three major credit bureaus.
Before long, you might find you’ve rebuilt your credit to the point where better rates are available to you. If this sounds like something you need, the following three top-rated credit cards for bad credit might help you out of a bad financial spot.
Capital One Platinum Unsecured MasterCard
Capital One Bank is one of the most well known credit card providers to offer great perks for those facing credit challenges. This unsecured credit card offer high approvals odds to those with not so great credit scores that do not require a deposit to get started.
Upon approval, you can expect a relatively low starting limit. However, after making five consecutive on-time payments, your credit card will automatically see a credit line increase, helping rebuild your credit even more.
Capital One also offers great tools for tracking and rebuilding credit along the way. There is no annual fee with this card and the payment options are very flexible to avoid negative information being reported to the credit bureaus too quickly.
For options with more immediate name recognition, Milestone Mastercard offers all the benefits of a Mastercard without the added requirement for stellar credit. The card’s services come with standard Mastercard protections, including emergency card replacement if one is lost or stolen.
Though there is no application fee, there are annual fees with this card including a first-year charge, but the Milestone does include bonus perks that some of its competitors lack, including ATM location services and even emergency cash advances, which are occasionally hard to come by for unsecured cards. If you’ve had problems making your payments as soon as the month ends, the Milestone might be the right way to go.
Credit One Bank Credit Card
The Credit One Bank Credit Card offers rewards for its unsecured card, which is a definite rarity in its field. As long as your account remains in good standing, you’re eligible for 1% back on all qualifying gas purchases.
If your account remains in good standing and no payments are missed for the first six months, there are even opportunities to apply for credit limit increases, and the card allows you to track your credit score through its online service as you work to repair your credit.
Not only can it help you rebuild damaged credit, it offers tools to help you track how your credit is improving and Credit One is willing to grow with you as your needs change. On the downside, their fee schedule includes distinct annual and participation fees, but the card does sport a potentially lower APR than some of its competitors, which might offer savings in the long run.
Having bad credit doesn’t have to mean you are forever barred from owning a credit card. All it takes is knowing where to look and keeping in mind that the road to rebuilding damaged credit is a slow, steady path, not a quick race.
By using a card with reasonable limits that is designed to build credit without taking advantage of your financial hardships, re-establishing yourself as a creditable individual doesn’t have to be an impossible task.
Unsecured Credit Cards For Bad Credit or No Credit
If you have bad credit and want a credit card, it’s easy to get a secured credit card with an annual fee, but more difficult to be approved for an unsecured credit card with no fee. The list below features unsecured credit cards you might apply for even with bad credit. There is no guarantee of approval, but these are cards that either work with average to poor credit people, or have been rumored to give a second chance to those with bad credit.
- Indigo® MasterCard® for Less than Perfect Credit – Pre-qualify today without an impact on your credit score. Helping consumers with limited or damaged credit make a fresh start for over 12 years. Prior bankruptcy is OK. Account history is reported to the three major credit bureaus in the U.S. ++
- Fingerhut Credit Card – Internet/catalog retailer with a long history of working with people who’ve had “credit challenges in the past.” Offers an unsecured credit card to let you finance items from its extensive catalog of clothing, electronics, home furnishings, more. ++
- Credit One Bank® Unsecured Visa® for Rebuilding Credit – See if you Pre-Qualify without harming your credit score. 1% cash back on eligible purchases, terms apply. No deposit requirements and opportunities to build your credit. ++
- Capital One Platinum Credit Card – This card is marketed by Capital One for “average credit” customers, but Capital One uses criteria such as having defaulted on a loan in the last 5 years as still qualifying as average credit, which signals that they probably consider bad credit customers. It has no annual fee but a very big 24.99% interest rate.
Credit cards from retail stores are often easier to be approved for on an unsecured basis, but they also usually carry very high interest rates. For example:
- Staples Credit Card – You can probably get approved for this card, which will let you stock up on office supplies at a sky-high 28.74% interest rate!
- JCPenney Credit Card – May approve bad credit customers for an unsecured credit card, but the interest rate is an astounding 26.99%!
- TJ Maxx Credit Card – Another unsecured credit card but with a 27.49% APR (annual percentage rate).
- Macy’s Credit Card – May approve less-than-perfect credit customers, but notice the 25.99% interest rate.
- American Eagle Credit Card – Unsecured store credit card has a 24.49% or 25.49% interest rate.
- GAP Credit Card – Unsecured card that can also be used at Old Navy and Banana Republic and Athleta in addition to the GAP. Carries a 25.49% interest rate.
- Chevron / Texaco Visa – Unsecured gas credit card has a 27.49% interest rate.
++ Indicates that this site receives compensation when you are approved for this card.
Credit One Bank® Platinum Visa® for Building Credit - See if you Pre-Qualify without harming your credit score. +This fully unsecured credit card with no deposit requirement can be helpful in growing or building credit. Your account activity will be reported monthly to all three major credit bureaus. +All the features you want in a credit card are included. Get 1% cash back on eligible purchases, take advantage of free online credit score tracking, and enjoy credit line increase opportunities. Terms apply.