Best Credit Cards For Bad Credit 2019 - Unsecured, No Deposit, Guaranteed Approval & High Limit Credit Cards (2024)

Guaranteed approval credit cards are a type of credit card that does not rely on your credit scores or FICO scores to approve you. They typically do not perform any hard inquiry or credit checks. Instead, these cards look at other factors like your bank account balance, income level or simply your willingness to fund a security deposit. That means that no minimum credit scores are required for approval and and all types of credit are accepted. This is good news for those of you with really bad and adverse credit scores because getting approved for these cards are easy with very high approval rates. Most importantly, approval is within your control.

You will be pleasantly surprised to know that though these cards will approve applications while others may not even if you have very bad credit, the credit limits can be quite generous. You will find that you will be able to get guaranteed credit cards with $1,000, $2,000 and even $5,000 credit limits.

What is PerPay - Perpay is a financial platform that allows you to shop online for products and pay over time with easy automatic payments drawn directly from your paycheck. Perpay allows you to purchase branded products from Apple, Kitchen Aid, Nintendo etc at 0% interest. They also report to all three major credit bureaus. You can get up to $1,000 in initial credit limit.

Annual Fee - $0

APR - 0%

Credit Limit - Up to $1,000

Approval Requirements - Perpay does not perform any hard inquiries on your credit report. But you do need to meet the following criteria.

• Have full-time employment for at least 3 months
• Paid via direct deposit
• Active mobile phone
• No active bankruptcy
• In good standing in all financial oblidations

Why We Like PerPay? - We like Perpay because they do not charge any annual fee or any interest. This is in contrast to many online store memberships and buy now pay later programs. Furthermore, they do report to all three major credit bureaus. We also like that your payment is taken directly from your paycheck or payroll direct deposit as it ensures you will never be late for any product purchase payment.

Some cardholder comments

I was able to get approved for $1,000 spending limit while other apps would not. I really like how they deduct payments directly from my paycheck. It makes it so easy and hassle-free. I chose to pay over 8 payroll and before you know it, it is paid off.

Below are credit cards that give up to $2,000 in credit limits that do not perform hard inquiries and hence almost guarantee your approval.

Arro Card - No Hard Inquiry

The Arro Card is one of the very rare unsecured credit card that does not perform any hard inquiries but instead looks at your bank account to approve you and set your credit card. It also has a very low fees and the credit limit can go as high as $2,500. Those of you who are rebuilding will find it hard to believe that such an unsecured credit card actually exist.

Who is this card for - This card is for those with poor credit but want a unsecured credit card with no hard inquiries, low fees and also one that can increase their credit limits over time easily. The Arro Mastercard meets all these criteria.

See Also

What is a good credit score?annualcreditscorecheck.com Reviews | scam or legit checkThe Average Credit Score Just Dropped for the First Time Since 2009What is a good credit score?

Approval Requirements - Arro has no minimum FICO score criteria. Instead, you have to link your bank account to them via PLAID. Your approval and credit limit will be set based on the cash flow in your bank account.

Why We Like This Card? - We absolutely love the Arro Mastercard because it is one of the very rare unsecured credit card that does not perform any hard inquiries and is not a store credit card. Their fees are also very low compared to other unsecured credit cards that target people with poor credit. Though your initial credit limit may be low ($50 to $200), you can increase it rapidly by taking online financial courses from their app, using the card often and paying on time. The APR at 16% is also very low.

It is not impossible to get an unsecured credit card when your credit is really poor (like mid 500 and below). But credit limits tend to be low with very little chance of an increase and the fees are just too high. Very often, you have to pay a monthly fee on top of an annual fee (which can add up to over a hundred dollars). You also get a hard inquiry with other credit cards and very often, you will get declined because of the baddies on your credit report. With no hard inquiries, Arro makes getting their card so much easier as long as you have positive cash flow in your bank account.

Read our review of the Arro Mastercard

First Progress Platinum Select Mastercard Secured Credit Card

Who is this card for? - The First Progress Select Mastercard is ideal for rebuilders with very low credit scores or even those who have been discharged from bankruptcy and are looking for a secured credit card to rebuild without incurring any hard inquiries. As there are no credit checks, it is essentially a

guaranteed approval secured credit card with a credit limit up to $2,000. However, if you read the terms and conditions carefully, it says that First Progress may also increase your credit limit without the need for additional security deposit up to a total maximum limit of $5,000.

Requirements - No credit checks. Acceptance is assured and you will be able to use your card as long as you fund your security deposit (which sets your initial credit limit).

Why we like this card? - We like the First Progress Select Mastercard because there is no credit checks and you will definitely be approved as long as you fund your security deposit. Both the annual fee and APR are reasonable and you will be able to check your Vantage score from Experian every month for free. First Progress also offers you an upgrade path to an unsecured credit card in as little as 6 months if you pay your bills on time as you may be invited to apply for the First Digital Mastercard (which has a partnership with First Progress). They also now offer cardholders the ability to earn 1% cash back on your payments

Annual Fee - $39
Regular APR - 18.99%
Credit Limit - $200 - $2,000.
Maximum Credit Limit - $5,000

Read our review of the First Progress Platinum Select Mastercard.

Who is this card for? - The Self Secured Visa is ideal for those who want to rebuild with a secured credit card but do not have the funds for the security deposit. As a credit builder card, Self allows you to deposit a fixed amount into your Self credit builder account every month until you meet your security deposit target. Once that is achieved, you will get your secured credit card. The maximum limit you can save and deposit in your Self account is $3,000.

Requirements - You need to open a credit builder account with Self. After paying a minimum of three monthly payments and having saved enough for your security deposit (minimum amount is $100), you can then get the secured credit card and fund it with your savings from the credit builder account.

.

Why we like this card? - We like the Self Secured Visa because it allows those of you who are strapped for cash to slowly build up savings by starting a "credit builder account" with them. While you build up your savings via a monthly deposit, you build up your credit as well because they are reported to the credit bureaus. Self also does not check your credit so you will definitely be approved.

Cardholders Comments - Here are a couple of cardholder comments on the Self Secured Visa Card.

I’ve had them for 1.5 years and currently have a secured card for $1850 through them. They have absolutely raised my score and updated all positive history.

Annual Fee: $0
Regular APR: 23.24%
Requirements - Open a Self Credit Builder account, make a minimum of three payments.
Credit Limits - Minimum of $100 and a maximum of $3,000.

Who is this card for? - The Opensky Plus Secured Visa Credit Card is ideal for rebuilders who want to rebuild with a no annual fee secured credit card with a chance of graduating to an unsecured credit card. Cardholders may get a chance to graduate to the Opensky Gold Unsecured Visa in as little as 6 months. It will also appeal to those with a very low score (I am talking 400 credit score range) who do not want to experience a hard inquiry on their credit report which may result in a ding in their credit scores.

Requirements - No credit checks. Will definitely be approved though you do need to fund your security deposit before the card will be delivered to you.

Why We Like This Card? - We like the Opensky Plus credit card for many reasons. Firstly, there is no annual fee. The Opensky Plus also gives you to up to 60 days to fund your security deposit (in increments if you like). You also have the chance to graduate to the Opensky Gold Unsecured Credit Card in as little as 6 months. There are no credit checks if you are graduated. So essentially, the Opensky Gold Card is an unsecured credit card that guarantees approval without deposit for existing Opensky Plus holders. You are also eligible to get a credit limit increase without the need for additional security deposit in as little as 6 months as well. You can set a credit limit anywhere from $300 to $3,000. The Opensky Plus is a guaranteed approval credit card with up to $3,000 credit limit.

Opensky now have a mobile app which they launched in 2019 and they are gradually making improvements to it. This will make them more appealing as many subprime issuers do not even have a mobile app. You can also set up autopay (which is actually not available to many subprime credit cards).

Annual Fee - $0
Regular APR - 29.74%
Requirements - No credit checks. You will be approved but you need to fund your security deposit.
Credit Limit - $300 - $3,000

Here are credit cards with up to $5,000 that guarantees approval without credit checks.

The Extra Debit Card is a debit card with no credit checks. Approval is guaranteed as long as you link your bank account to Extra and you have a positive bank balance.

Who is this card for? - The Extra Card is a debit card that is for the rebuilder who has a checking account and does not need or want a credit line and get into more debt (which is impossible with a debit card). It is also ideal for rebuilders who not want to put up a security deposit that is required in a secured credit card. This card allows a rebuilder to rebuild his/her credit, control his/her spending without any risk of getting into more debt.

Requirements - All you need is a checking account. You must link your checking account to the Extra Debit Card via PLAID.

Why We Like This Card? - We like this card because being a Mastercard Debit Card, you can use it anywhere Mastercard is accepted. Furthermore, as the Extra Card is one of the extremely

, you can rebuild your credit without getting into more debt. The $20 monthly fee is also very reasonable. Rebuilding with a debit card means you will never carry a balance and there is no chance you get into credit card debt.

Cardholders Comments - Here are a couple of cardholder comments on the Extra Card.

After a nasty divorce my credit score went down from 750 to 580. Even with a 580 credit score I got denied by my bank's secured credit card and other unsecured cards. I got easily approved for Extra and for me, the $20/month is definitely worth it to rebuild my credit. At the same time, I got a Self acccount and later their secured Visa and after a year and a half, my credit score has increased by 100 points to 680.

Annual Fee - $149
Regular APR - None as it is a debit card
Maximum Credit Limit - Up to 85% of your positive bank balance.
Requirements - Need a checking account, which you have to link to Extra Card via PLAID.

Super.com is a hotel booking site with millions of customer who have saved more money on hotel bookings than other sites and apps like booking.com or expedia.com. They have a secured credit card with no annual fee, 0% APR and no foreign transaction fee. You may also be eligible for a 0% cash advance. Who is this card for? - The Super+ Secured Mastercard for for folks who want to save money on hotel bookings through the super.com app and earn cash back at the same time. It is ideal for those who have bad credit and do not want to incur a hard inquiry on their credit report as the Super+ Card does not perform any credit checks. It is also for those who occasionally need to take a cash advance as Super+ gives qualified cardholders up to $200 in cash advance at 0% APR.

Annual Fee - $0
Regular APR - 0%
Cash Advance APR - 0%
Maximum Credit Limit - $5,000
Cash Back Rewards - 10% cash back on hotel bookings, 5% cash back on Superstore purchases, 1% cash back on other regular purchases.
Membership Fees - To get the Super+ Card, you need to join the Super App membership for $15/month.
Requirements - You simply have to link your checking account or debit card to the Super app..

Read our review of the Super+ Card

Who is this card for? - The Go2Bank Secured Visa is for rebuilders who want a no credit check guaranteed approval secured credit with a low security deposit requirement. Unlike the majority of secured credit cards which require at least $200 in security deposit, Go2Bank secured credit card only requires a $100 minimum, making it a more affordable secured credit card than others. It is also another no annual fee credit card that guarantees approval.

Requirements - You would need to set up a Go2Bank Mobile Banking Account and direct deposit. Once you have direct deposited $100 into your account, you can request for their secured credit card. Both mobile bank and secured credit card do not perform any credit checks.

Why we like this card? - We like the Go2Bank Secured Visa credit card for many reasons. With regard to the card itself, there is no annual fee and it has a low minimum security deposit of $100. You also get a free Vantage Score from Equifax with the card as well.

However, Go2Bank's mobile account (called the Vault) is a great online mobile banking account and platform as well. You can get a really good APY (interest) on your account and get your paycheck 2 days earlier (4 days earlier for government benefits) with direct deposits).

More importantly, Go2Bank has a really slick modern app that is top notch among the cards mentioned here.

Annual Fee - $0
Regular APR - 22.99%
Credit Limit - Min of $100, No Maximum Credit Limit

Who is this card for? - StellarFi is for people who rent and want to have their rent, utilities, insurance, cell phone bills, streaming services and other bills to be reported to all the major credit bureaus. It is also ideal for people who want to avoid getting into more debt and are hence reluctant to use a credit card to build or rebuild their credit.

Requirements - There are no credit checks and you simply have to link your main bank account to StellarFi.

Why we like StellarFi? - Most landlords and utility companies do not report your payment to the three major credit bureaus. While you can charge your cellphone bills to a credit card, many now require you to pay through your checking account to continue getting the discounts you got when you signed up for your plan. Even internet services offer you discounts if you pay via your checking account. StellarFi will pay these bills for you and get them reported to the credit bureaus.

Lite Membership Fee: $4.99/month for Lite Plan for up to $500 in limits.
Prime Membership Fee: $8.99/month for Prime Plan with up to $25,000 in credit limits.
Credit Limit: Up to $25,000 for Prime Plan

While the following credit cards and loans do not guarantee approval, they are good alternatives with good credit limits. While they do not guarantee approval, they allow you to go through a pre-approval pre-qualification process with a soft inquiry with no impact on your credit score. If you are pre-approved, you can then decide if you want to risk a hard inquiry and go through the application process. If you are not pre-approved, then you at least save yourself a hard inquiry.

Who is this card for? - The Reflex Mastercard is primarily for two types of rebuilders. The first category of rebuilders are those who have just emerged from bankruptcy and would like to get an unsecured credit card. Reflex is a card that will approve those who have recently emerged from bankruptcy with a clean slate to start over. Though approval is not guaranteed, there is a very good chance you will get approved. The Reflex credit card is also for those who have taken a year or so to rebuild their credit (perhaps through secured credit cards or credit builder loans) and have improved their credit scores, settled all collections and charge offs and are ready to get an unsecured credit limit with high limits.

Requirements - There are several things that will greatly improve your chance of get approved. You need to have worked on your credit score for at least 6 months to a year and show improvement in your scores. Ideally, you credit utilization ratio should be no more than 30% and your debt payment to income ratio should be no more than 40% as well.

Why we like this card? - There are three main reasons why we like the Reflex Mastercard. The first is that they offer four versions with different credit limits and fees and this alone increases your chance of getting approved. The starting credit limits available are $300, $500, $750 and $1,000. Secondly, if you pay your first six monthly bills on time, your credit limit will double. That means it will increase to $600, $1,000, $1,500 and $2,000 respectively from the original starting credit limit. Thirdly, Reflex has modern perks like free credit scores and a mobile app as well.

Annual Fee: varies - check our review
Credit Limit: $300, $500, $750 or $1,000. Doubles to $600, $1,000, $1,500 and $2,000 after 6 months of timely payments.

Who is this loan for? - Zippy Loan is for those with bad credit looking for a loan for debt consolidation, renovations or any other personal loan for up to $15,000..

Requirements - Zippy Loan has relationship with over 100 lenders hence we cannot pin down any certain criteria. But having a regular income is a must as well as the usual credit metrics like credit utilization ratio, total debt etc.

Why we like this loan? - Zippy Loan is a loan aggregator who has relationships with over one hundred lenders. Hence, there is a very good chance that there will be a lender who will suit your needs. Their app and online application is extremely simple. Approval is very quick and you can get cash in your account as soon as the next business day after approval.

Loan Limit: $100 to $15,000

What Are Guaranteed Approval Credit Cards?

Guaranteed approval credit cards will approve you no matter what (well almost). These credit cards do not perform any hard inquiries on your credit report. That means that they not rely on credit scores to approve you. Instead, they rely on other factors which are much easier to meet. So though nothing is 100% guaranteed approval, it is much easier to get approved for a guaranteed approval credit card than a regular credit card for bad credit which will pull your credit report. Below are the different types of guaranteed approval credit cards.

Guaranteed Approval Secured Credit Cards that Requires Funding of Security Deposit

Though secured credit cards require a security deposit (which acts as a collateral in case you default), some secured credit cards will deny your application if you have adverse items in your credit report. For example, some secured credit cards will deny your application if you have just emerged from bankruptcy. On the other hand, guaranteed approved secured credit cards will approve you as long as you fund your security deposit. A great example is the Opensky Plus Secured Credit Card.

Guaranteed Approval Secured Credit Cards that Require you to open banking account and set up direct Deposit

Some secured credit cards do not have credit checks, but require you to set up a banking account with them as well as a direct deposit. After that is done, you can request a secured credit card which is backed by the account balance in your bank account and be definitely approved with no credit checks. An example of such secured credit cards is the Go2Bank Secured Visa.

Credit Builder Loans to Secured Credit Card

Some secured credit cards require you to set up a credit builder loan before you can get their secured credit card. A prime example would be the Self Credit Builder Account and Secured Visa Credit Card. Self requires you to take out a loan (which you will not see), but pay it back over time. This is not only reported to all 3 credit bureaus but is also a means of saving up for your security deposit. Once you have saved up enough, you can then get the secured credit card. Both the credit builder loan and secured credit card does not involve credit checks and approval is guaranteed.

Cards Requiring Linking Checking Account

There are some cards that simply require you to link your checking account and as long as you have a healthy positive balance, you will be approved. One example is the Extra Debit Card. You simply have to link it to your checking account via PLAID, use the card and it will be reported to credit bureaus. Another example is StellarFi. You have to link your checking account to StellarFi and you will be issued a Virtual credit card where you can pay your rent, utilities, insurance and other bills to build your credit.

Guaranteed Approval Unsecured Credit Cards

There are also some unsecured credit cards that guarantee approval. Most of these are closed-loop merchandise store cards where you can only use the card at their online stores. There are a couple of startups that have unsecured credit cards that will approve you if you link your bank account and it has a consistent positive balance. We will look into more of these cards as they become more established.

Guranteed Approval Credit Cards Are Approved Instantly Most of the Time and Some Provide Instant Access

One of the key attractiveness of credit cards with guaranteed approval is that most of you will be approved almost instantly after you apply. In some rare cases, you may be asked to go through an indentification process where you may have to upload some ID or utility bills.

Not only is approval instant and very quick for the most parts, some cards also lets you use them immediately after you are approved even though you may not have received your physical card yet. For example, both the Super+ Card and Extra Card give you virtual cards which you can add to your digital wallet immediately after you are approved so you can use it immediately.

But there are other cards like Opensky Plus Secured Visa that will approve you immediately but you can only use the card once you have received it physically in the mail.

Approval Requirements - How Easy Is It To Get Approved?

Because guaranteed approval credit cards do not perform any credit checks, approval is really easy as long as you meet the criteria required by the credit cared issuers. Below is a summary of the different requirements:

• Funding of Security Deposit - Some secured credit cards merely require you to fund your security deposit and your card will then be shipped to you.


• Open New Bank Account and Set Up Direct Deposit - Many new FinTech secured credit cards have such requirements. It is a little more hassle though they tend to offer perks like getting your paycheck two days earlier.

What Credit Limits and APR Can I expect from Credit Cards that Guarantee Approval?

Many people would be surprised to learn that credit cards with easy and guaranteed approval have pretty high credit limits. You can get credit limits ranging from $1,000, $2,000, $3,000 and even up to $5,000 or more. Some of the secured credit cards recommended here have very low security deposit limits (as low as $100) that allow those of you who are tight on cash to start your rebuilding efforts

Some cards will give you credit limits based on your linked account positive balance and in theory, the credit limit is unlimited.

As far as APR is concerned, most cards offer APRs that are similar to credit cards targeting those with bad credit. Some cards require you to pay in full and so do not have any APR.

How to Use Guaranteed Credit Cards to Improve Your Credit Score?

Rebuilding your credit score is the same regardless of the credit tool you use. The basics involve:

• Paying Your Bills On time and in Full - Paying your bills on time and in full is crucial for rebuilders. Late payment may result in late fees and drops in your credit score. According to the credit bureaus, on-time payment makes up 35% of your credit score.


• Keep Your Credit Utilization Below 30% - Credit Bureaus recommend that you keep your credit utilization score at 30% or below. That means for example if you have a $1,000 credit limit, do not spend more than $300 on your card. Keeping a low credit utilization score will show that you know how to manage credit responsibly.


• Do Not Get Into More Debt - If you already have a lot of credit card debt (perhaps in collections), it is critical that you do not get into any more debt. That is why we recommend cards like the Extra Debit Card or the Super+ Card because they require you to pay in full and there is no way you can get into further debt.


• Deal with Your Collections - If you have any accounts in collections, deal with it. Either negotiate a payment plan or settle it at a reduce amount if you can. Collections that do unresolved will really hold back your credit score even if you pay your open accounts on time.

FREQUENTLY ASKED QUESTIONS

All the recommended cards on this page are easy to get approved. But we want to highlight two with the highest approval rates. The Extra Debit Card has a 99% approval rate. Those who are not approved are mostly declined because their identity could not be verified by Extra. The other very easy approval guaranteed credit card is the Opensky Plus Secured Visa Credit Card, which has a 88% approval rate.

I would say that the honor has to go to the Extra Debit Card because it has a 99% approval rate and you will be approved as long as you link your bank account to Extra (via Plaid) and you have positive balance.

As we have shown by our recommendations above, you can get high credit limits for credit cards that have easy and in many cases guaranteed approval. For example, you can get a high limit with guaranteed approval secured credit cards by simply depositing a large amount for your credit limit. For cards that give you credit limits based on your linked bank account, a large positive balance will ensure that you would have a high credit limit.