Credit cards for bad credit with no security deposit required

Contents

Credit Cards For Bad Credit With No Security Deposit Required

What Is An Unsecured Credit Card

What Credit Card Can Get With No Credit

Get Credit Card Approval Without Social Security Number

Will Build Credit Faster With Multiple Credit Cards Credit Card Insider

Instant Approval Department Store Credit Cards

Possibility Of Getting An Unsecured Credit Card After Bankruptcy

Personal Loans For Bad Credit Fast Approval Online

What Does It Mean To Have An Unsecured Credit Card

Credit Building Cardsa Security Credit Card

Bad Credit No Credit Check Free Prepaid Cell Phones Smartphone No Contract No Credit Car

Scam Credit One Bank Visa Platinum

How To Order Things Online Without Owning Credit Card

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Credit Cards For Bad Credit With No Security Deposit

How Long Can Accounts Stay On Your Credit Report

Information that is timely and precise cannot be taken off your credit file, even if you have paid a once delinquent debt off. The fact

Credit cards for bad credit with no security deposit required Good Bad Credit Signpost Shows Customer Financial Ratin

that it is paid off is to your credit; nonetheless, the fact that the report was once delinquent is also true and may stay in your credit files from up to seven years.

Bankruptcy information could be reported for up to ten years. Information reported because of an application for a job using a salary of more the $20,000 has not time limit. Information reported because of an application for more than $50,000 worth of credit line has no insurance or life time limit. Default advice concerning a US Government insured or guaranteed loan may be reported for seven years after certain grantor activities. Continue reading →

Facts about bad credit unsecured credit cards

Do you know the facts about credit cards for bad credit with no security deposit and how it can help or hurt you as a small business of your own?

It is no secret that having bad credit can be a real obstacle for any small company. But bad credit does not have to mean no credit. There are a few solutions to overcome that bad credit and get a credit card (cc) for your business. Two of these options are bad credit card debt is unsecured and secured credit card.

With a secured credit card, and you will have money in the bank in the form of a security deposit to back up your purchases. The amount varies but it gives the lender less risk for the loan, and that means the possibility of a higher credit limits for you. Usually, based on the spending limit you have available on a percentage of the amount of your insurance. Continue reading →


Prepaid & Credit Cards for People with Bad Credit

All your personal information will be protected

Surge Mastercard® Credit Recommended: Fair/Bad

All your personal information will be protected

Horizon Gold Credit Card Credit Recommended: Bad

All your personal information will be protected

WebBank/Fingerhut Credit Account Credit Recommended: Bad

All your personal information will be protected

National Credit Direct Credit Recommended: Any

All your personal information will be protected

Credit One Bank® Platinum Visa® Credit Recommended: Poor

All your personal information will be protected

Official NASCAR® Credit Card from Credit One Bank® Credit Recommended: Bad/Poor

Getting a credit card while you have bad credit is not impossible. In fact, applying for the right credit card can help your credit history.

Look for a card that offers payment terms and benefits that meet your financial needs. While there may be many offers and promotions for those with a bad credit history, not every card will be right for your specific situation. There are several different companies that offer special deals especially for those with past credit problems. Before you apply for a credit card, make sure you understand the terms and conditions. Understanding your responsibilities as a cardholder is important. Improper use of a credit card can damage your credit even more. Once you are sure the card you've chosen is good for you, you can apply online.

Ask your question to our experts: explain your financial situation and you'll get personal financial consultation by email.

Credit cards for bad credit with no security deposit required

Once your bankruptcy is resolved you will want to rebuild your credit. There are many possible ways to rebuild your credit and one of them is a secured credit card. The cards’ activity is usually reported to the major credit bureaus monthly and this reported credit activity is the core of your credit score. To get a secured credit card you will need to put down at least a minimum security deposit. The minimum deposit will get you access to the minimum credit line, which is enough to show some positive credit activity. When use a secured credit card (and any credit card), you should make all due payments on time. Try to pay more than just a minimum - keeping balances low is also important.

Having bad credit is even worse than having no credit at all because you already lost your credibility. However, it doesn’t mean you will never get approved for a credit card gain. Working hard you will be able to gain your credibility back. To start with, we would recommend you to check your credit reports. Get a copy of your credit report from each of the three major credit bureaus (Equifax, Experian and TransUnion). Look for any inaccuracies or outdated information. If you see errors, dispute them with credit bureaus. If you see credit inquiries from companies you do not recognize, dispute them as well. Once your report is clear and updated, you can apply for a credit card. A secured credit card is the best option for people with bad credit because secured card are created for people with bad credit. The cards are usually reported to all three major credit bureaus allowing you to improve your credit.

There are different credit card offers for people with bad credit and which one is the best depends on a person’s financial situation, credit score, and preferences. One card can be good for one person but the same card may not be as good for you. So we recommend you to consider everything from fees to interest rates when you choose a credit card. Another thing you may want to get with the credit card is the ability to track your credit score for free. Today many major banks and credit card issuers give access to credit score trackers for free. The score trackers will help you understand what is good and what is bad for your credit score, so you will be able to improve your credit faster.

Today there are credit card issuers that offer secured and unsecured credit cards to people with bad credit. Depending on how bad your credit is you can qualify for a secured or for an unsecured credit card. However, it is easier to get approved for a secured credit card because it requires a security deposit. The security deposit acts as a guarantee of your promise to pay and if you default on a secured credit card, the creditor will use your security deposit. Before you apply for a credit card, make sure your credit reports are correct and do not have outdated or erroneous information.

Credit cards for bad credit with no security deposit required

Credit cards for bad credit with no security deposit required

Credit cards for bad credit with no security deposit required

*See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by CreditCardFlyers.com. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

* The CreditCardFlyers.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. CreditCardFlyers.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the CreditCardFlyers.com website are property of their respective owners.

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What Are The Best Credit Cards for Bad Credit of 2017?

We reviewed hundreds of offers to track down the best credit cards for bad credit. If you have a FICO score below 600, or no credit whatsoever, these are some of the best offers that will be available to you. We broke out the cards into various categories that should fit a variety of consumer needs – everything from cash back to low interest rates.

Credit Cards for Bad Credit.

Best Bad Credit Credit Card for Cash Back Rewards: Discover it® Secured Card ­- No Annual Fee

The Discover it® Secured Card ­- No Annual Fee is best for individuals with bad credit who want to work on improving their credit score while earning cash back along the way. The card earns users cash back on everyday purchases, just like credit cards available to individuals with average or better credit scores. Cardholders receive 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter, and an unlimited 1% otherwise. After your account has been opened for 8 months, it will be considered for an upgrade to one of the other Discover products - some of which are the most attractive cash back credit cards on the market. As long as you continue to make all your payments on time, and keep credit utilization low, your credit score will increase over time. Keep in mind this is not a credit card that you want to carry a balance on. It has an extremely high APR, so you should always pay off your bill in full.

Best Credit Card for Bad Credit with Low Interest: State Department EMV Savings Secured Visa Platinum Card

The State Department EMV Secured card is a good option for anyone who happens to have a credit score below 600 and needs to carry a balance month-to-month. With a minimum APR of 7.24% APR, this card has one of the lowest interest rates we’ve seen on a secured card. Even when you compare it against ordinary cards, interest rates below 10% are a rare sight to behold. Credit cards for people with bad credit have an average APR of around 16%, so you save a little more than 50% on interest charges compared to the typical card of this type. The EMV Savings Secured Visa Platinum doesn't charge its users an annual fee, allowing cardholders to put that bit of extra cash towards the security deposit, paying down a balance, or simply keeping a few extra bucks in their pocket. Best of all, you don't need to be a State Department employee to qualify; a membership with the American Consumer Council makes you eligible.

Best Credit Card for Students With Thin/No Credit (No Deposit Needed): Discover it® for Students

This card is excellent for people with little to no credit, like students, who want to build their credit score. The Discover it® for Students provides 5% cash back in rotating categories each quarter like Amazon.com, restaurants, ground transportation and more, up to the quarterly maximum each time you activate. Outside of that, you get 1% back on everything else. Currently, new cardmembers get a dollar-for-dollar match of all the cash back they’ve earned at the end of your first year. That makes this card all-the-more powerful during those first 12 months.

Because this is a student credit card, and not a secured card like others on this list, users don't need to put down a security deposit. You can read more about the Discover it® for Students in our review.

Best Credit Card for Bad Credit With High Credit Limits: Capital One® Secured Mastercard®

The Capital One® Secured Mastercard® is great for individuals who wish to have a high credit limit, without having to put up too much money up front. With this card, your security deposit gets you extra bang for the buck. Depositing more than the minimum can get you higher credit limits. This is considerably better than some other secured cards, like the EMV Savings Secured Visa Platinum card, which awards just a $250 credit limit in turn for a $250 security deposit. On top of offering a higher credit line, Capital One provides cardmembers with the ability to monitor their credit score free of charge. This is a vital tool for anyone looking to rebuild their credit history as it allows one to see exactly how their spending/payments habits impact their credit score.

Best Credit Card for Bad Credit for Earning Miles: AeroMexico Visa Secured Card

Individuals who have no trouble paying off their monthly credit balance, and have a firm handle on their finances should use the AeroMexico Visa Secured to earn miles. This card comes with an annual $99 companion certificate, which acts as a ‘buy 1 get 1 for $99” on AeroMexico airline tickets. Cardholders also get 5,000 bonus One Club Premier Miles the first time they use their card. By all standards, the AeroMexico Visa Secured card is structured like a regular travel rewards credit card, with a fairly decent rewards rate – it can range between 1.3% to 2.8% depending on how you redeem your flights, or twice that if you spend exclusively on gas and groceries.

Custom fitting a credit card reward's program requires a lot of math and calculations. Our tool does all the heavy lifting for you - simply enter your estimated monthly spending into the categories, and we will figure out which credit cards will provide you with the highest yield.

The Net Rewards Rate is equal to the Rewards Value over two years divided by the total spending. The total spending is equal to the values entered into the tool and multiplied by 24 months. See the Rewards Value note to see details on how it is calculated.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

The bonus field shows our estimate for the value of the card’s sign-up bonus. If the bonus is point or mile based, we multiply the total bonus points/miles by our estimate for their value to arrive at a dollar equivalent. We display $0 if there is no bonus or if the user doesn’t qualify for the bonus based on the current spending entered into the tool.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

The Rewards Value is calculated by adding together the rewards earned from charging purchases to the card over two years and any sign-up bonuses (if applicable). They are then multiplied by our estimated point/mile value, with any annual fees (if applicable) subtracted. All values are based on our own estimates for the dollar value of any points, miles or bonuses earned using a card.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

  • New! We’ll monitor your Social Security Number. Get an alert if we find your Social Security Number on any of thousands of risky websites.* Activate for FREE.
  • Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
  • Earn 5% cash back in rotating categories each quarter like Amazon.com, restaurants, ground transportation and more, up to the quarterly maximum each time you activate.
  • Good Grades Rewards: $20 cash back each school year your GPA is 3.0 or higher for up to the next 5 years.
  • No annual fee. No late fee on first late payment. No APR change for paying late.
  • Get 100% U.S. based customer service & your FICO® Credit Score for free on monthly statements, on mobile and online.
  • Freeze It® on/off switch for your account that prevents new purchases, cash advances & balance transfers in seconds.
  • 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 13.99% - 22.99%.
  • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.

Estimated Rewards Through 24 Months

  • New! We’ll monitor your Social Security Number. Get an alert if we find your Social Security Number on any of thousands of risky websites.* Activate for FREE.
  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • Your Secured Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
  • We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
  • Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases.
  • Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
  • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.

Estimated Rewards Through 24 Months

  • 5,000 First Use Bonus Miles plus Complimentary Companion Certificate
  • 1 Club Premier Mile per $1 spent
  • 2 miles per $1 spent on Gas & Groceries
  • Complimentary Baggage

Estimated Rewards Through 24 Months

  • Earn 1 Flexpoint reward for each dollar you spend
  • Flexpoints can be earned on any net purchases at the rate of 1 per dollar

Estimated Rewards Through 24 Months

  • Earn 1 nRewards point for each dollar you spend
  • nRewards can be earned on any net purchases at the rate of 1 per dollar

Estimated Rewards Through 24 Months

Estimated Rewards Through 24 Months

Estimated Rewards Through 24 Months

  • No Annual Fee, and unlike a prepaid card, it helps build credit history with monthly notifications to the credit bureaus
  • A security deposit is required for this product (minimum $200)
  • Pay your bill on time every month to avoid damaging your credit. Citi can help keep you on track with Auto Pay, online Bill Pay and alerts.
  • Use the card anywhere Mastercard® is accepted - worldwide

Estimated Rewards Through 24 Months

Estimated Rewards Through 24 Months

Estimated Rewards Through 24 Months

Credit cards for bad credit with no security deposit required

Estimated Rewards Through 24 Months

Summary 2017's Best Credit Cards for Bad Credit

For those who want a quick recap of the best credit cards for bad credit, you can find the most relevant information in the table below.

What You Should Do If You Have Bad Credit

Whatever your financial situation is, if you have a bad credit score, your number one priority should be rebuilding it. We recommend that consumers practice these simple for a positive impact on their credit score.

Pay your credit card balance in full and on time each month. Paying off your debts is a surefire way of showing credit agencies that you are a responsible spender – meaning you don’t take on loans you can’t pay off. Do what it takes, from setting up a monthly reminder on your cell phone or your calendar, or start a recurring monthly payment from your checking account so that it doesn't slip your mind. While it may be tempting to just pay the minimum, and not worry about some of your balance, there are even more negatives to it other than the damage to your credit score. Most bad credit credit cards have unfortunately high interest rates, which means your interest costs will be greater - unless you have the EMV Savings Secured Visa Platinum Card.

Don’t spend beyond your credit limit. Most experts agree that using more than 60% of your total available credit limit has a negative impact on your credit score. With the typical secured credit cards starting off with minimum balances of $250 you do not have much room for error. While issuers do give you a certain amount of credit, they like to think that you don’t rely on it completely – the closer you are to your limit, the more desperate you appear to a reporting agency.

Find someone to co-sign your credit card with you. If you have a family member or close friend with a good credit score, see if they are willing to co-sign on your new credit card. They will be taking on a share of your responsibility, if you are unable to pay back your debt. In return you will effectively be boosting your credit score for that credit application – resulting in being qualified for better credit cards that can ultimately end up saving you more money.

How to Avoid Hurting Your Credit Score

One of the few things that can turn a bad situation worse is not understanding why you are in a bad situation in the first place. It can be frustrating being told that you have bad credit, when you don’t know what got you there. Below we explain three of some of the most common pitfalls consumers make that lead them to having a bad credit score.

Avoid late payments. One of the biggest culprits behind ruining credit scores is paying your credit card bill late. Consumers tend to think that outside of paying a late fee, there are no other consequences associated with a late payment. First and foremost, being late on your payment will have a direct impact on your FICO score. The later you are, the greater the damage. On top of hurting your credit score directly, being late on a payment can raise your APR. That means, if you carry a balance, you will pay a higher interest rate on it. If you are not ready to pay more, you will likely carry an even greater balance and the effects of this can easily snowball out of one’s control.

Don’t apply for many credit cards in a short period of time. Part of what determines your FICO score is appearances. Companies who look at your financial habits like to see you act as though credit is a nice perk, which you don’t necessarily need. Each time you submit an application for a credit card, loan or anything of this sort an inquiry is made into your credit card. When multiple inquiries are made within a short period of time, credit-reporting agencies perceive this as you needing credit desperately – something that does not bode well for your ability to pay it back. When this happens, your credit score can lower and you may be denied your applications.

Don’t defaulting on a loan or declare bankruptcy. While throwing in the towel may save one headache in the present, defaulting on a loan or declaring bankruptcy should always be a last resort. If you ever do either of these two things, it will become part of your permanent record. Having declared bankruptcy digs a very deep hole in one’s credit history – one that will take multiple years to dig out in the future.

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.


Top 15 Credit Cards For Bad Credit of 2017

Credit card companies are like bad friends: all over you when you’re flush with money but nowhere to be seen when you’re broke. If you’re shopping for a credit card and have great credit, they will fight for your business. Not so much, if you have bad credit. What’s more, many of the companies that do target those with bad credit charge predatory interest rates and exorbitant fees for the privilege.

This comprehensive review of the best credit cards available for people with bad credit scores will help you avoid the scams and misleading offers touted by opportunistic and unscrupulous credit card companies. We will analyze the top 15 credit cards for bad credit and share useful tips on how to best use credit cards to repair your credit.

Before we dive into our list, we’d like to start with some tips on how to manage credit cards when you have bad credit. The harsh reality is that credit card companies consider customers with bad credit as a liability and either deny them credit or charge higher interest rates and annual fees to offset the risk. The good news is you can work your way out of bad credit.

Compare the rates, fees, and rewards of the leading credit cards. Find the best card for your lifestyle.

How Do Credit Cards Help Rebuild Your Credit?

Credit card companies report your payment history and credit usage to the credit bureaus: the companies in charge of keeping the credit file on which your credit score is based. Your payment history accounts for 35% of your score calculation. How much you owe in relation to available credit contributes 30% to your score’s calculation.

Super Tip: Unless it’s a real emergency and only as a slightly better alternative to getting a payday loan or selling your kidneys on the black market, don’t keep a balance on your credit card. When you have bad credit, interest rates can easily reach prohibitive levels of 30% or more. A low balance will also increase your available credit to debt ratio, which will boost your credit score.

There are four main credit card types available to people with bad credit. These are, in order of most to least desirable: unsecured credit cards, secured credit cards, department store cards & gas credit cards, and prepaid credit cards. We will start with our top picks for each category and then the entire list of cards.

Things to Look for When Choosing a Card

If your credit score is not great, you won’t be able to be too picky when it comes to applying for credit cards. That doesn’t mean you shouldn’t apply for just any old card either.

When looking for the best credit card for your financial circumstances consider the following:

APR: This is the annualized interest rate you will pay on your credit card balance. Try to find the lowest APR you can qualify for that meets your line of credit requirements. The APR is not so important when you are not planning to carry a balance.

Annual Fees: Spoiler alert, credit card companies are only in business to make money. Annual fees help increase the profitability of credit cards by covering the administrative costs of managing a credit card.

Line of credit: Because consumers with bad credit are a higher risk to lenders, credit card companies tend to offer lower lines of credit. Credit cards that accept applicants with low credit scores and have decent lines of credit are rare.

Research & Selection Methodology

SuperMoney’s team of credit card experts selected the top cards in each category based on their overall value to users. Of course, “value” is subjective depending on what credit card features are important to you. These are the factors on which we based our credit card selection algorithm:

  • Fees: Annual fees and also penalty fees
  • FICO score required: Naturally, this is particularly important for people with bad credit scores
  • Credit limits and security deposits: This is particularly important for secured credit cards
  • APR: Annual Percentage Rate or the interest you pay on your credit card balance
  • Reward rates, redemption options, and how difficult it is to redeem points or miles
  • Sign-Up Bonuses

How to Apply for a Credit Card with Bad Credit

As mentioned above, qualifying for a credit card is easier said than done when you have bad credit. Here is a step-by-step guide on how to apply:

  • Find out what your credit score is. Credit Sesame lets you check your credit score for free. You don’t even have to provide a credit card.
  • Use a credit card database that allows you to filter credit cards by credit score requirements. We may be a little biased, but we feel SuperMoney’s Credit Score search engine is one of the best in the business. It’s completely free and allows you to filter cards by target credit score, fees, rewards, and interest rates.
  • Start with a secured credit card. If your credit score is really in the dumps, you may need to get a secured credit card first. Secured credit cards are not technically credit cards. They are debit cards that base your line of credit on how much you gave as a security deposit. In effect, you are paying interest to lend yourself money. The good news is that many banks and credit card issuers will upgrade you to a regular credit card once you can show a pattern of responsible card use for six months.
  • Pay your balance in full every month. If possible, pay it several times a month. This will keep your debt to credit ratio low, which may bump your credit score. Having a low balance — or even better a $0 balance — is particularly helpful if you do it just before applying for a new credit card.

Important Disclaimer: Credit score is not the only factor credit card companies consider when approving or denying applications. The credit scores used in this article are only guidelines. Your application may be accepted or denied regardless of whether you meet the credit score requirements mentioned.

Using Credit Card To Raise Money In Emergencies

Looking to raise money using credit cards? If you have good credit, getting a cash advance is a good idea to raise some emergency money. You just need to go to the nearest ATM. But credit card companies often charge a premium on cash advances with higher interest rates. And unlike regular transactions, there is almost no grace period for a cash advance. You’re being charged from the minute you clutch the bills in the palm of your hand. Use cash advances on credit cards with caution.

Best Unsecured Credit Card: Capital One Classic Platinum Credit Card

Credit cards for bad credit with no security deposit requiredThe Capital One Platinum Credit Card gives customers with a poor to fair credit score access to a real credit card and the chance to rebuild their credit, without having to pay a high annual fee. As you would expect, interest rates are high: 24.99% for purchases and balance transfers.

The Capital One Platinum Master Card has no annual fee and it gives you the benefits of a real credit card, such as fraud protection, and free access to your credit score. Customers who make their first five monthly payments on time qualify for a higher credit line.

Unfortunately, the Capital One Platinum is not available for users at the lower end of “bad credit.” For this reason, we also recommend the Milestone Gold MasterCard, which provides the benefits of a regular credit card and is more forgiving on really low credit scores.

Super Tip: Capital One allows you to request a soft pull on your credit score to determine your eligibility for a pre-qualified offer. This is a useful feature because applying for the card will not count as a credit card application, so it won’t harm your credit score.

Best Secured Credit Card: The DCU Visa Platinum Secured Credit Card

Credit cards for bad credit with no security deposit requiredOur favorite secured credit card is the USAA Secured Card Platinum MasterCard. Sadly, it is only available to U.S. military service members, veterans, and their families. If you’re not a member of the military, the

If you’re not a member of the military, the DCU Visa Platinum is another great option. It gives people with bad credit access to the convenience of a credit card with an APR as low as 11.75% APR. The catch is that your credit limit is equal to your secured deposit: a minimum of $500.

However, there is no annual fee and you receive generous travel perks, such as free auto rental collision damage waiver and $50,000 in travel insurance coverage. Your secured deposit earns 0.05% interest and it’s refunded when you close the account.

Super Tip: If you’re not eligible to join the DCU credit union by virtue of your employment or place of residence, you can qualify by joining one of their associated charities. The cheapest options are a one-time $10 donation to the Reach Out for Schools foundation or a one-time $15 donation to the American Association of People with Disabilities.

Best Retail and Gas Credit Card: Walmart Credit Card

Credit cards for bad credit with no security deposit required

Walmart’s credit cards are some of the easiest credit cards to qualify for with bad credit. The store has two types of cards, the Walmart MasterCard and the Walmart Credit Card. Both cards offer up to 3% discounts on Walmart purchases, $0 fraud liability, no annual fee, and free monthly access to your FICO score. You can use the Walmart MasterCard anywhere a MasterCard is accepted, but it’s harder to get approved.

The Walmart Credit Card is only for in-store use but it’s easy to get approved. Interest rates for both cards are high but Walmart does report to all three credit bureaus, which will help improve your credit score without having to pay a dime in annual fees, security deposits or interest, as long as you never carry a balance. Both cards allow you to benefit from special financing deals for purchases worth more than $150.

Best Prepaid Credit Card: American Express Serve

Credit cards for bad credit with no security deposit requiredA low monthly fee of $5.95 (no fee in TX, NY, or VT), free direct deposits, mobile check deposits, bank transfers. Cash reloads cost up to $3.95. ATMs, make the American Express Serve one of the best prepaid card out there. Sending and receiving money is free and there is no card replacement fee.

Although this card will not help your credit score, it gives you – without even a peek at your credit history – the convenience of a debit card, free access to your cash at over 23,000 ATMs, and you can add cash to your account for free. You can even deposit checks at no cost by using American Express’ mobile app.

Unsecured Credit Cards for Bad Credit (Scores 550 – 650)

Unsecured credit cards offer the best rewards, the lowest interest rates, and don’t require a security deposit to open an account. However, if your credit score is any lower than 550, you probably won’t qualify for an unsecured credit card. In that case, apply for a secured credit card and try for an unsecured credit card when your score improves. You can also try your luck with a department store or gas credit cards, which include some unsecured credit cards and are often much less selective about your credit history.

If your credit score is between 550 and 650, you may qualify for a few unsecured credit cards, but expect low lines of credit, high-interest rates, and outrageous fees.

Milestone Gold MasterCardCredit cards for bad credit with no security deposit required

The Milestone Gold MasterCard is an unsecured credit card that allows you to check if you pre-qualify. This means your credit won’t be hurt if you don’t meet the eligibility requirements. It does have an annual fee ranging from $35 to $99, depending on credit score.

Milestone Gold MasterCard charges a $35 annual fee and $25 fee for every authorized user added to the account. During the first year, there is no cash advance fee. After the first 12 months, there is either a $5 or 5% cash advance fee, whichever is greater (up to a maximum of $100), on every transaction. Foreign purchases come with a 1% fee.

Credit One Bank Visa Platinum Credit CardCredit cards for bad credit with no security deposit required

The Credit One Bank Visa Platinum credit card has high interest rates of up to 23.90% and an annual fee of $75 for the first year and $99 thereafter. Lines of credit start as low as $300, but you can qualify for a credit line increase if you make your first five payments on time. On the positive side, you get 1% back on all gas purchases and you receive complimentary free credit score tracking. As with the Captial One Classic Platinum, you can ask Credit One to prequalify you for credit, so applying for the card doesn’t affect your credit score further.

Discover it for Students.Credit cards for bad credit with no security deposit required

If you’re enrolled in a 4-year college or university, the Discover it for Students may accept your application, even if your score is below 650. The card has no annual fee, no penalty APR, no late fees, no foreign transaction fees, no overlimit fees, and you get 5% cash back in certain categories that change each quarter and 1% cash back on all other purchases.

Secured Credit Cards for Bad Credit (Scores 300 – 600)

If you have no credit or a bad credit history, secured cards are an excellent option for establishing or rebuilding your credit. Even if your credit score is less than 550, you still have several secured cards to choose from. However, secured cards typically have more expensive annual fees and higher interest rates. They also require a deposit, which is held as a security to cover the balance in case the account is closed. The size of your deposit generally determines your credit limit. For instance, a deposit of $500 gives you a credit limit of $500. In some cases, the bank or credit union may increase the credit limit to more than your security deposit.Credit cards for bad credit with no security deposit required

A relatively low-interest rate of 11.90% APR and decent travel benefits without an annual fee make the DCU Visa Platinum the best deal in secured cards for non-military members. It gives people with bad credit access to the convenience of a credit card with an APR as low as 11.75% APR. The catch is that your credit limit is equal to your secured deposit: a minimum of $500.

The best thing about the DCU Visa Platinum is that it has no annual fee and you receive generous travel perks, such as free auto rental collision damage waiver and $50,000 in travel insurance coverage. Your secured deposit earns 0.05% interest and it’s refunded when you close the account.

Capital One Secured MasterCardCredit cards for bad credit with no security deposit required

Capital One’s Secured MasterCard is designed for people with poor or no credit history who want to build or repair their credit and have cash on hand to make a security deposit. It has a $29 annual fee and the lowest minimum-security deposit in the market: $49 to $200, depending on how bad your credit is

. The security deposit and the annual fee buy you a credit line of $200 to $3,000, which can increase if you pay your bills on time. However, interest rates are high: 22.9% variable APR.

SDFCU EMV Savings Secured Visa Platinum CardCredit cards for bad credit with no security deposit required

The State Department Federal Credit Union’s EMV Savings Secured Visa Platinum Card offers rates as low as 7.24% APR with no annual or foreign transaction fees, without asking for income verification or a credit check. You also receive points for every dollar you spend; the card comes with the “new” chip-enabled technology.

The catch, as with most credit union secured cards, is that your credit limit is your security deposit, which has a minimum of $250. Anybody can join the SDFCU by choosing the American Consumer Council as an associated organization when filing a membership application.

Harley-Davidson Visa Secured CardCredit cards for bad credit with no security deposit required

US Bank’s Harley-Davidson Visa Secured Card has no annual fee; gives you reward points you can redeem for Harley Davidson gift cards for every $1 you spend; and includes fraud protection and auto rental collision damage waiver. You even get a $10 Genuine Rewards Certificate.

Yet, it has a 23.24% APR and your credit limit is tied to your initial deposit.

Credit cards for bad credit with no security deposit requiredIf you, your spouse or parent serves or served in the military, the USAA Secured Credit Card may be your best option. It has a low-interest rate of 9.9%, a reasonable annual fee of $35 and no penalty APR rate. However, your credit limit is the determined by how much money you put in upfront ($250 to $5,000). This deposit is invested in a 2-year variable rate CD. As of September 2016, the annual percentage yield on the CD is 0.54%.

USAA is a members-only financial services company that is open to U.S. military service members, veterans with an honorable discharge and their family members. The USAA Secured Platinum MasterCard charges a variable APR rate of 9.90% to 19.90%, which varies depending on creditworthiness and applies to purchases, balance transfers, and cash advances. There is no penalty rate for late payments, but there are fees to consider. For instance, there is a $35 annual fee and a 3% fee on balance transfers and cash advances (maximum of $200). However, the cash advance fee is waived when used to transfer funds electronically to a USAA deposit account.

America First Credit Union Secured VisaCredit cards for bad credit with no security deposit required

America First’s Secured Visa is another example of why credit unions are often the way to go for customers with bad credit. It has no annual fee, relatively low rates starting at 6.99% APR, and credit limits ranging from $200 to $15,000. This card is great for people trying to rebuild their credit because you can qualify for large credit limits, if you have the cash to place as a security deposit.

The America First’s secured credit card has no annual fee, which is a $30 to $70 saving when you compare it to other secured credit cards. The cash advance fee is low compared to other cards, just 1.5% of the amount. However, not everyone can become a member. You must meet the credit union’s eligibility requirements.

First Progress Platinum Elite MasterCardCredit cards for bad credit with no security deposit required

The First Progress Platinum Elite MasterCard has a relatively low annual fee of $29, an ongoing APR of 19.99% and penalty fees and cash advance fees that will make you cry. However, no credit history or minimum credit score is required for approval. And if you don’t mind paying a higher annual fee of $39 or $44, you can get lower interest rates of 14.99% and 11.99% respectively.

The First Progress Platinum Elite is a secured card not a credit card. This means the line of credit is only as high as the security deposit made by the card member on application. The maximum credit limit is $2,000.

Department Store and Gas Credit Cards for Bad Credit

Store and gas credit cards are rarely a good deal, but they do have a place in the toolbox of consumers with bad credit. On the one hand, they are easier to qualify for than regular unsecured cards and don’t require a deposit. On the other hand, they generally have low credit limits and they’re not always accepted outside the establishment that issues them. Except for those that require a good-to-excellent credit score, which are obviously not an option for those with bad credit, the rewards they offer are not competitive and are restricted to purchases made at their stores. What’s more, not all of them report your account and payment history to the credit bureaus, which negates any credit repair benefit they may have.

Walmart Credit CardCredit cards for bad credit with no security deposit required

The Walmart Credit Card has no annual fee, does not require a deposit and you can use it wherever MasterCard cards are accepted. Customers with credit scores as low as 550 are considered.

The Walmart Credit Card is only for in-store use but it’s easy to get approved. Interest rates for both cards are high but Walmart does report to all three credit bureaus, which will help improve your credit score without having to pay a dime in annual fees, security deposits or interest, as long as you never carry a balance. Both cards allow you to benefit from special financing deals for purchases worth more than $150.

Marathon Credit CardCredit cards for bad credit with no security deposit required

The Marathon Credit Card is an unsecured credit card that approves customers with credit scores in the low 600s. Interest rates are high: 16.99% to 24.99% depending on your credit; and lines of credit start low, but they grow as you make regular and on time payments. The card’s main feature is a 25 cents a gallon rebate if you spend $1,000 a month on the card. Lower gas rebates apply if your spending levels are lower. If you drive a lot and your credit precludes you from the top rewards cards, the no-annual fee, and unlimited rebates could make this card a good option for rebuilding your credit.

Pre-Paid Credit Cards for Bad Credit Folks

Let’s start by saying that prepaid credit cards are not credit cards. They will not help improve your credit score and are usually, but not always, more expensive than using a debit card and a checking account. Having said that, if you don’t qualify for a reasonably-priced checking account; you don’t care about building credit; and you are chronic overspender; prepaid credit cards may provide you the convenience of a credit card while protecting you from racking up overdraft and late payment fees. Prepaid credit cards work in a similar way to a regular checking account. Once you deposit money into your prepaid card, also known as reloading, you can use at businesses or make cash withdrawals.

American Express ServeCredit cards for bad credit with no security deposit required

American Express’ Serve card is the lowest-fee prepaid card available, as of 2016. If you register for direct deposit and you stick to American Express’ network of ATMs, you can get the equivalent of a free checking account with a debit.

It offers free ATM withdrawals at over 24,000 MoneyPass ATMs, free online bill pay, and American Express customer service for just $1 monthly. As far as prepaid cards go, American Express Serve is the card to beat.

American Express BluebirdCredit cards for bad credit with no security deposit required

The American Express Bluebird has no monthly fee, regardless of whether you have a direct deposit linked to your account or how much you reload every month. You can add money to your account for free from any Walmart cash register or by buying a reload back, which costs around $3.95. Withdrawals are surcharge-free if you stick to MoneyPass ATMs, but Bluebird will charge you a $2 fee per withdrawal.

However, you can get round this fee if you set up direct deposit for your paycheck or government benefits.

BB&T MoneyAccountCredit cards for bad credit with no security deposit required

The beauty of BB&T’s Money Account is its simplicity. You only have to worry about three fees: a $2.50 fee, if you use an ATM out of BB&T’s network; a monthly fee of $5, which can be reduced to $3 if you make $1,000 in deposits a month; and a $5 fee for using international ATMs. All other transactions are free. Not a bad deal, if you’re willing to make BB&T’s MoneyAccount your main form of banking and your volume of deposits qualify you for the discounted monthly fee.

So, Which Credit Card Should You Get, If You Have Bad Credit?

As you can see, even customers with bad credit have many credit card options to choose from. But make your selection wisely. A lot depends on what your financial goals are and what you can afford. Check out our Credit Card reviews, there are comments and tips from existing users you might find useful.