5 Credit Cards That Will INSTANTLY Approve You With BAD or NO Credit
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5 Best Credit Cards For Bad Credit:
1. Discover it Secured Credit Card
For starters, regardless of the fact that this is a secured credit card, it still comes packed with all the rewards, benefits, and perks of an unsecured credit card.
You’ll get 2% cash back at gas stations and restaurants up to $1,000 every 3 months. Plus 1% unlimited cash back on all other purchases.
Discover will also match all the cash back you’ve earned at the end of your first year with their unlimited cashback match perk. So if you earned $3,000 cash back, Discover will pay you $3,000 at the end of the year.
With this card, you’ll also have your security deposit refunded to you after 8 months of on-time payments, but you can continue using the card with your credit line.
And, as an added bonus, you’ll be able to check your FICO credit score for free using the Discover app or website.
For a secured credit card, Discover is being very generous with all of these perks.
2. Bank of America® Customized Cash Rewards Secured
This card comes with one of the highest cash back bonuses that I’ve seen with any other card. You’ll get 3% cash back in the category of your choice. It can be gas, online shopping, dining, travel, etc.
You’ll also earn 2% cash back at grocery stores and wholesale clubs such as Sam’s Club or Costco. And then, finally, to top it off, you’ll earn unlimited 1% cash back on all other purchases.
You’ll also have access to your FICO credit score for free using the Bank of America app or website. And, this card also comes with no annual fees or monthly fees.
This card will also return your security deposit if you qualify.
3. Secured Mastercard from Capital One
This card is perfect if you have a bad credit score and need to work on building it back up.
So besides the fact that most people can apply and be accepted, it also doesn’t have any annual or monthly fees, regularly reports to all 3 major credit bureaus, and since it’s a Mastercard, it’s accepted at millions of locations worldwide.
One important thing I want to point out about this card is that it doesn’t have any rewards. Unlike the first two on this list which come with perks and other benefits, this card doesn’t offer that.
However, the primary reason I included this card on the list, except for the fact that it’s a great card overall if you have bad credit, is that your initial cash deposits don’t have to match penny for penny.
For example, if you recall the first card on this list, the Discover card. With that card, your credit line is contingent on your initial security deposit. For example, if you deposit $200, it means your credit line will be $200.
But with this card, the Secured Mastercard from Capital One, that’s not the case. If you qualify, you’ll only have to deposit $49, or $99 to get a $200 line of credit.
4. Petal® 2 Visa® Credit Card
Petal wants you to have at least an average credit score or better, which typically falls between a 580 and 669 using the FICO score.
Now, you can still get this card with a lower score, but that’s the recommended range.
The reason I like this card so much is because of the fees. Or rather, the lack of fees.
This card charges no fees. Literally, zero fees. No annual fees. No foreign transaction fees. No late fees. No returned payment fees, or any other kind of fee.
And… wait for it… this card doesn’t require a security deposit.
5. Capital One QuicksilverOne Rewards Credit Card
The last card on the list is actually the Capital One QuicksilverOne cash rewards credit card.
Like with the last credit card, this one is ideal if you have fair credit which falls between a 580 and 669 FICO score.
If you have a lower credit score, it’s still worth checking to see if you can be pre-approved.
The QuicksilverOne from Capital One gives you 1.5% cash back on every purchase. That means you’ll earn unlimited rewards on literally everything you buy.
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. The links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partner websites. The video is accurate as of the posting date but may not be accurate in the future.
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