Getting approved for a credit card can be challenging, especially if you have a low credit score or limited credit history. Many top credit cards are geared toward individuals with good or excellent credit, leaving fewer options for those just starting out.
However, some credit cards are much easier to get approved for, even if you’ve made significant credit mistakes in the past. If you’re seeking easy approval, consider these types of cards: secured cards, unsecured cards, student cards, and store cards.
Keep in mind that the easiest credit card to get approved for might not be the best long-term option. While it allows you to build your credit history, it’s wise to reassess your credit situation after a year or so to see if you qualify for top-tier rewards credit cards.
Comparing the easiest cards to get
| Card Name | Annual fee | Minimum security deposit | FICO score required | Bankrate review score |
|---|---|---|---|---|
| Bank of America® Customized Cash Rewards Secured Credit Card | None | $300 | No credit history | 3.8 |
| Bank of America® Unlimited Cash Rewards Secured credit card | $0 | $200 | No credit history | 4.3 |
| Capital One Platinum Secured Credit Card | $0 | $49 | No credit history | 4.1 |
| Indigo® Mastercard® | $0-$99 depending on creditworthiness | N/A | 300 to 670 | 2.2 |
| Capital One Platinum Credit Card | $0 | N/A | 580 to 740 | 4.2 |
| Capital One Quicksilver Student Cash Rewards Credit Card | $0 | N/A | 580 to 740 | 4.6 |
| Discover it® Student Chrome | $0 | N/A | No credit history | 4.1 |
Top credit cards for easy approval
Bank of America® Customized Cash Rewards Secured Credit Card
The Bank of America® Customized Cash Rewards Secured Credit Card stands out among secured cards by offering a high rate of cash back in eligible choice categories. Although the boosted rewards categories are capped at $2,500 in combined purchases each quarter, this card provides an excellent opportunity to build credit while enjoying the same rewards program as its unsecured counterpart. Additional perks include flexible rewards redemption options, credit education tools, and free access to your FICO credit score.
If you consistently make your payments on time, you can eventually request an upgrade to the unsecured version of the card, the Bank of America® Customized Cash Rewards credit card, which offers the same rewards structure and additional perks.
Pros
- Customizable Cash Back: Earn cash back in various bonus categories.
- Security Deposit Return: The issuer performs periodic account reviews to check eligibility for returning your security deposit.
Cons
- High Security Deposit: Requires a higher security deposit compared to other secured cards.
- No Welcome Offer: There’s no welcome offer, and upgrading to the unsecured version won’t qualify you for that card’s welcome offer.
Bank of America® Unlimited Cash Rewards Secured credit card
The Bank of America® Unlimited Cash Rewards Secured credit card offers a straightforward cash back rate of 1.5 percent on all purchases, identical to its unsecured counterpart, the Bank of America® Unlimited Cash Rewards credit card. This makes it a great credit-building option for those who prefer a simple rewards structure without the need to track spending caps or bonus categories. Additional benefits include flexible rewards redemption options, free access to your FICO credit score, and credit education tools.
Pros
- Flat Cash Back Rate: Earn a consistent 1.5 percent cash back on all purchases without tracking categories.
- Security Deposit Return: Periodic account reviews may make you eligible to have your security deposit returned.
Cons
- High Ongoing APR: Carrying a balance can reduce your rewards earnings due to the high APR.
- Foreign Transaction Fees: Not ideal for international purchases due to additional fees.
Capital One Platinum Secured Credit Card
The Capital One Platinum Secured Credit Card is a strong choice if your credit isn’t sufficient for the unsecured version. Unlike many secured cards, it only requires a minimum deposit of $49, $99, or $200 to secure a $200 credit line, making it an accessible option for credit-builders on a tight budget.
Pros
- Low Security Deposit: Secure a $200 credit limit with a minimum deposit of $49, $99, or $200.
- Credit Line Reviews: Automatic credit line reviews after six months can help you qualify for better cards.
Cons
- No Rewards: This card does not offer rewards, limiting its value beyond being a low-cost credit-building tool.
- Limited Credit Line: The initial $200 credit limit can be restrictive if your monthly expenses exceed that amount.
Indigo® Mastercard®
The Indigo® Mastercard® is an excellent option if you have bad credit due to past financial mistakes. The application process is quick and straightforward, with a high approval rate. Plus, only a soft credit check is performed, so your credit score won’t be affected.
Keep in mind that you might have to pay an annual fee depending on your creditworthiness. Additionally, with a $300 credit limit, this card is best suited for small purchases, especially if you want to maintain a low credit utilization ratio.
Pros
- Prequalification: Get prequalified online without a hard inquiry on your credit report.
- No Security Deposit: No upfront costs are required since there is no security deposit.
Cons
- Annual Fee: Potential annual fees make it less ideal for long-term credit building and could harm your credit if you close the account after upgrading.
- No Rewards: The card doesn’t earn rewards, which can offset any ongoing costs.
Capital One Platinum Credit Card
The Capital One Platinum Credit Card doesn’t offer rewards, but it allows you to build your credit score without an annual fee. While you might start with a low credit limit, Capital One reviews your account for a potential increase in as little as six months.
The Capital One Platinum requires a fair to good credit score. You can also check if you’re prequalified online, allowing you to gauge your chances of approval before completing the full application.
Pros
- Prequalification: Check if you’re prequalified online without a hard inquiry on your credit report.
- Credit Limit Increase: Potential for a higher credit limit after six months can improve your credit utilization ratio.
Cons
- No Rewards Program: The lack of rewards makes other cards with even low rewards rates more valuable.
- No Intro Offers: This card doesn’t have introductory offers or sign-up bonuses commonly found with unsecured cards.
Capital One Quicksilver Student Cash Rewards Credit Card
The Capital One Quicksilver Student Cash Rewards Credit Card offers a straightforward 1.5 percent cash back on every purchase, eliminating the need to track bonus categories. With no annual fee, this card can help you build your credit score without incurring extra costs. Additionally, there are no foreign transaction fees, making it an excellent choice for students planning to study abroad.
This card is available to students with fair credit, which is common for those new to credit. Students enrolled in either four-year or two-year higher education institutions are eligible.
Pros
- Sign-Up Bonus: Earn $50 when you spend $100 in the first three months of account opening.
- Credit Line Increase: Consideration for a higher credit line in as little as six months.
Cons
- Flat Rewards Rate: May not be ideal for students who spend heavily in specific categories.
- No First Late Payment Waiver: Unlike some student cards, this card might be more costly if you miss a payment.
Discover it® Student Chrome
The Discover it® Student Chrome is a solid option for students who frequently spend at gas stations and restaurants, offering enhanced cash back rewards in these categories. Additionally, Discover matches all the cash back you earn at the end of your first year.
This card features an introductory APR on purchases for six months, helping you save on interest. With no annual fee, it’s an excellent choice for building credit, saving money, and earning rewards simultaneously.
Pros
- $0 Annual Fee: An affordable choice for budget-conscious students.
- Generous Sign-Up Bonus: Discover’s cash back match at the end of the first year can be quite lucrative.
Cons
- Quarterly Spending Cap: Limits earnings potential on combined bonus categories, with other student cards offering more lucrative rewards rates.
- Low International Acceptance: Discover cards are not widely accepted abroad, making it less suitable for studying overseas.
Choosing a card for easy approval
When looking for a credit card that’s easy to get approved for, options range from secured and unsecured cards to student credit cards and store credit cards. It’s essential to determine your preferred type of card and whether you’re comfortable with an annual fee or a security deposit before applying.
Secured Credit Cards
Secured credit cards require a security deposit, which typically serves as your credit limit. Deposits can range from $49 to $3,000. These cards are ideal for those with little or no credit history, as they have loose credit score requirements.
While secured cards may not have annual fees, they often lack robust rewards programs. However, they offer better benefits and fewer fees compared to other options for those with no or bad credit. Once your credit improves to the “good” range, you can upgrade to an unsecured card, and most issuers will refund your security deposit if you close your account in good standing.
Unsecured Credit Cards
If you have bad credit and can’t provide a security deposit, unsecured cards for poor credit are available. These cards often come with higher fees, higher APRs, and fewer rewards.
Unsecured cards may be a better choice if you need a higher credit limit but can’t afford a large security deposit. For example, if you want a $1,000 credit limit but don’t have that amount for a deposit, an unsecured card might be more suitable.
Student Credit Cards
Student credit cards are designed for college students at the beginning of their credit journey. These cards don’t require extensive credit history and often come with perks and rewards tailored for students.
Store Credit Cards for Fair Credit
Store credit cards typically have lower credit requirements, often needing only a fair credit score. These cards can be very rewarding if you’re a loyal shopper at a specific retailer. However, some retail cards can only be used at that retailer, while others are more versatile.
Be cautious of high interest rates and avoid overspending on unnecessary items. Here are a few popular store credit cards:
- Target RedCard™*
- Lowe’s Advantage Card*
- TJX Rewards® Platinum Mastercard®*
- My Best Buy® Credit Card* or My Best Buy® Visa® Card*
- Kohl’s Card*
In Conclusion
Building credit presents challenges, particularly for individuals with low credit scores or limited credit history. Thankfully, there are accessible credit card options available, including secured, unsecured, student, and store cards. While these cards may not provide the extensive benefits of top-tier rewards cards, they offer a pathway to establish credit and eventually qualify for more competitive alternatives. The crucial strategy is to use these cards responsibly, maintain consistent monitoring of your credit score, and exercise patience and diligence. With these efforts, you can enhance your credit profile and progress to better credit card choices over time.