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Credit Cards You Can Get With Bad Credit | We Listed Most Popular Options!

When you have bad credit, it can be difficult to get approved for a credit card. However, there are still options available to you. There are a number of credit cards specifically designed for people with bad credit.

These credit cards often do not require credit history but have higher interest rates than traditional credit cards, though they can help you build or rebuild your credit if used responsibly.

Some credit cards for people with bad credit require a deposit, while others do not. Some may also have annual fees or other costs.

Key Takeaways

  • Credit cards you can get with bad credit include Capital One Platinum Secured Credit Card, Mission Lane Visa Credit Card, Discover it Secured Credit Card, Self – Credit Builder Account with Secured Visa Credit Card and OpenSky Secured Visa Credit Card
  • What makes these credit cards for bad credit is that they accept a credit score under 579 or do not check your credit report at all.
  • Most of these cards require that you put down a refundable security deposit
  • It's important to read the terms and conditions carefully before applying for a credit card if you have bad credit to ensure you understand any fees or limitations associated with the card.
Credit score card held by a man


What Is a Bad Credit Score?

A credit score is a rating that reflects an individual's creditworthiness and is used by lenders to determine the likelihood of the individual repaying a loan.

One of the most widely used credit scoring systems is the FICO score, which ranges from 300 to 850. A score in the range of 300 to 579 is considered a bad credit score.

Makes it hard to Obtain a Loan

Having a bad credit score can make it difficult to obtain a loan or credit card, and if you are approved, the interest rate will likely be high. It also makes it hard to rent an apartment, get a job, or even obtain insurance.

There are several factors that contribute to a bad credit score or having a credit report, including missed or late payments, high balances on credit cards, and a history of defaulting on loans. However, with time, consistent good credit management, and paying off the debt can help build credit score over time.

What Credit Card Can I Get Instantly with Bad Credit?

1. Capital One Platinum Secured Credit Card

The Capital One Platinum Secured Credit Card is a great option for people with bad credit and are looking to build or improve it. It does not require a credit history, requires a low deposit, does not have an annual fee and one is approved instantly. However, it lacks rewards programs that are offered by many other credit cards.

Capital One Platinum Secured Credit Card

Does not Require a Credit History

One of the many benefits of this card is that it does not require a credit history to be approved. This makes it a great option for people who are just starting to build their credit, as well as those who have had financial difficulties in the past and have a poor credit score.

Another advantage of the Capital One Platinum Secured Credit Card is that it requires a relatively low security deposit to open an account. This secured credit card does not have an annual fee, which can save you money over time.

No Rewards

On the downside, the Capital One Platinum Secured Credit Card does not offer any rewards, such as cash back or points. This is a common feature of many credit cards for bad credit, and it can be a disappointment for those who are used to receiving rewards for their spending.

Bad credit sticky notes with a calculator


2. Mission Lane Visa Credit Card

This is another great credit card for rebuilding credit. It is specifically designed for individuals with bad to fair credit, with a credit score range of 300-670.

It Is an Unsecured Credit Card

The credit card does not require a deposit, which means you don't have to put down money upfront to open the account. Additionally, it does not require annual fees, so you don't have to worry about paying a yearly fee to keep the account open.

One downside of this credit card is that it does not offer rewards. This means that you won't earn points, cash back, or other incentives for using the card. However, it may be a good option for building or rebuilding your credit.
Mission Lane Visa Credit Card

3. Discover it Secured Credit Card

This is one of the few secured credit cards that comes with rewards. It is a secured credit card, which means that it requires a security deposit in order to open an account. The deposit acts as collateral in case the cardholder is unable to make payments.

Offers Rewards

One of the key features of the Discover it Secured Credit Card is that it comes with rewards. Cardholders can earn cash back on everyday purchases, such as gas and groceries. Additionally, there is no annual fee.

The card also comes with some additional benefits, such as the ability to freeze your account if you suspect fraudulent activity, and the ability to view your FICO credit score for free each month.

Discover it Secured Credit Card

4. Self – Credit Builder Account with Secured Visa Credit Card

Does not Need Credit History

Unlike traditional credit cards, a self-credit builder account with a secured Visa credit card does not require a credit history or deposit. Instead, you will be required to pay a small annual fee, which is small- $25 per year.

Reports to All Three Major Credit Bureaus

One of the benefits of a Self-Credit Builder Account with a Secured Visa Credit Card is that it allows the cardholder to start building credit right away.

By using the card responsibly and making payments on time, the cardholder can begin to improve their credit score. Additionally, the account reports to all three major credit bureaus, which can further aid in the credit building process.

Self – Credit Builder Account with Secured Visa Credit Card

5. OpenSky Secured Visa Credit Card

The OpenSky Secured Visa Credit Card is an ideal card for individuals with bad credit. One of the key features of this card is that it does not require a credit history or a credit check in order to qualify.

This can be particularly beneficial for those who have recently established credit or for those who have had past financial difficulties.

Has A Higher Limit of Up to $3,000

The OpenSky Secured Visa Credit Card has a higher credit limit of up to $3,000 compared to other credit cards for bad credit.

This can be beneficial for individuals who need to make larger purchases or who want to have a higher credit limit for emergencies. Additionally, the card has a lower annual percentage rate (APR) compared to other credit cards for bad credit.

The OpenSky Secured Visa Credit Card does not offer rewards for cardholders, but it may be a good option for individuals who are looking to rebuild their credit.

Requires a Security Deposit

This is not an unsecured credit card. One of the important things to keep in mind with this card is that it requires a security deposit. The deposit acts as collateral for the credit limit, and the deposit will be refunded to the cardholder if the account is closed in good standing.

OpenSky Secured Visa Credit Card

Can You Get Approved with A 500 Credit Score?

It is possible to get approved for a credit card with a 500 credit score, but it will likely come with several drawbacks. Approval will depend on the individual lender's policies. People with a credit score of 500 are considered high-risk borrowers, which means they are more likely to default on a loan.

As a result, lenders may offer credit cards to these individuals but with higher interest rates, require them to make a security deposit; not easy to get unsecured credit cards or charge annual fees. Additionally, these cards for bad credit may have lower credit limits and stricter terms.

Work on Building your Credit

It's important for individuals with a low credit score to work on improving their credit before applying for a credit card to ensure better terms and better chances of approval.

Good credit and bad credit road sign


What Credit Cards Can I Get with a 500 Score?

You can get all the credit cards that I have discussed in this guide because they require 500 or no credit history.  Most of them are secured credit cards, which require a cash deposit as collateral, or credit-builder cards, which are designed for individuals looking to build or rebuild their credit.

It's important to keep in mind that even if you're approved for one of these cards for bad credit, the terms, such as APRs and fees, may be less favorable than what's offered to those with great credit scores.

About Dusan Stanar

I'm the founder of VSS Monitoring. I have been both writing and working in technology in a number of roles for dozens of years and wanted to bring my experience online to make it publicly available. Visit https://www.vssmonitoring.com/about-us/ to read more about myself and the rest of the team.

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