What are the Easiest Credit Cards to Get Approved For?

Why Owning a Credit Card is Important

Credit cards have many benefits, causing those who have a lack of or bad credit to envy those who are able to receive these perks. For example, credit cards offer a range of benefits from rewards, sign up bonuses, cashback, low APR for purchases or balance transfers, no annual fees, and so much more.

One key feature of credit cards is that they allow the cardholder the chance to build their credit. Therefore, while it is difficult to be accepted to own a credit card with a poor credit score, it is extremely important to do so. This article will help you decipher which card to apply to in order to fit your spending and credit needs.

Related: 9 Quick and Easy Ways to Improve your Credit Score

Cards to Apply For With Low Credit Thresholds

The best type of card to apply for if you have a poor credit history are secured cards. Many of these cards do not have an annual fee and spending limits, making it manageable for cardholders to make their payments, therefore improving their credit score. 

Additionally, most secured cards report to the 3 major credit bureaus on a monthly basis, so if you make your payments continuously on time, your credit will improve. While secured cards typically offer fewer benefits than other credit cards that require higher credit, some still offer rewards of 1% or more.

Easiest Credit Cards to be Accepted For

• OpenSky Secured Visa Credit Card

1. The easiest card to be accepted for is the OpenSky Secured Visa card. This is because when applying, new applicants do not get checked for their credit. Rather, the main security checks OpenSky engages in are that the applicant has a US mailing address, social security number, and income to cover costs of the card along with a refundable deposit. There is an annual fee, but it is only $35 a year which is extremely low. Cardholders are also able to benefit from a 0% intro APR on purchases for the first 6 months of their account being open.

• Credit One Bank Visa Credit Card

1. The Credit One Bank Visa card is one of the easiest cards to gain approval for in 2020. The annual fee for this card is anywhere between $0 and $99, depending on your creditworthiness. For this low fee, cardholders are able to earn 1% cashback on purchases made on gas, groceries, monthly mobile phone, internet, cable, and satellite TV services. Card users also have the flexibility of choosing the day they want to make payments. Additionally, card owners can monitor their credit score to ensure it is consistently improving.

• Discover It Secured Credit Card

1. The Discover It Secured card is a solid secured card for any cardholder, but especially for those who are fee-averse. This is because the Discover It Secured card offers no annual fee, making it practically free to own. Cardholders also benefit from 2% cashback from purchases made at gas stations and restaurants, and 1% cashback on all other purchases. The cashback you earn within your first year will also be matched at the end of the year, which is a very generous offer for a cashback card. This card requires slightly more of a credit history than the prior two cards, however, since it is a secured card it is still fairly easy to acquire one.

• First Progress Platinum Select Secured 

1. A key aspect of this card is that it does not require a credit minimum or history. This makes it extremely simple for cardholders to gain access to this card. Another benefit is that there is a low APR for purchases at 14.99%.  Additionally, there are no monthly or application fees. However, there is an annual fee of $39, but this is a small price to pay for the opportunity to help improve your credit score.

• Merrick Bank Secured Visa

1. The Merrick Bank Secured Visa is a foolproof card to gain access to while simultaneously working on improving your credit. A typical card for those with poor or little credit background, this card ensures that cardholders can make their payments by requiring a minimum deposit. This deposit then becomes the credit line of the cardholder, making it impossible for them to not be able to afford their payments. The minimum for this deposit is $200 and it can be up to $3,000. This card is great for those who are especially concerned about their credit score since it requires cardholders to have enough income to afford all of their payments.

• FIT Mastercard

1. This card is extremely easy to gain access to, as it accepts all credit types. This card is a good fit for anyone who does not want to put down a deposit since no security deposit is required. While there are many fees the card applicant should be wary of (ie: annual fee of $99, one-time processing fee of $89, a monthly maintenance fee of $6.25, $30 for additional user fee), the main goal of this card is to improve the credit of the cardholder. Therefore, if these fees are not an issue, this card may be a good fit for you.

• First Access Solid Black Visa

1. One benefit of this card is that you will learn whether you have been accepted within the first 60 seconds after submitting your application. They typically accept bad to fair credit, making it a solid choice for those looking to improve their credit. There are many fees to look out for, however, including an annual fee, program fee, monthly servicing fee. Additionally, it is important to note that there is a high APR rate as well, making this card not great for financing large purchases.

Bottom Line

Overall, there are many cards that accept poor and limited credit history individuals. We believe these selected cards combine quick and easy access with benefits to the cardholder.

Related: What happens when my credit card application is declined?