View from the back of a girl standing in shopping centre walking area and holding credit card. Concept: credit cards for bad credit
Maja Mirosavljevic
By: mmirosavljevic
Read in 13 minutes

Best Credit Cards for Bad Credit

Did you know that you can still qualify for some credit cards even if you have a poor credit score?

That’s right: and the best credit card for bad credit for you is surely listed below. Moreover, if you use them properly, they can help you rebuild your credit and increase your credit score. That way, you can fix your past credit mistakes and create a better financial future for your business.

So, what credit cards can you get with bad credit? If you have a poor credit score (from 300 to 639) and you want to build your credit, consider applying for some of the best credit cards for bad credit.

Of course, if what you need is capital to finance your small business, a credit card might not be the best option. A small business loan could be a better alternative, and it can help you build your credit too.

What is a credit card for bad credit?

The main difference from the credit cards you can obtain with a good credit score is that they are pretty simple cards. That’s perfectly fine because the whole point is to use them to build your credit and show that you’re financially responsible so you can apply for a better solution in the future.

Also, note that there are secured and unsecured cards for bad credit. The difference is that secured credit cards for bad credit require a security deposit that protects the issuer if you fail to pay your debts. For this reason, it’s easier to get a secured credit card. On the other hand, unsecured cards for bad credit don’t require a deposit, but they usually have high interest rates and low credit limits.

best credit card for bad credit

Top 10 Best Credit Cards for Bad Credit

After researching the main requirements, such as deposits, annual fees, regular APR, and other conveniences, here is a list of the best 10 credit cards for bad credit.

  1. Credit One Bank Visa Credit Card
  2. Discover it Secured
  3. Capital One Secured Mastercard
  4. Indigo Platinum Mastercard
  5. DCU Visa Platinum Secured Credit Card
  6. Total Visa Credit Card
  7. OpenSky Secured Visa Credit Card
  8. Green Dot Platinum Visa Credit Card
  9. Credit Builder Secured Visa Credit Card
  10. First Progress Secured Mastercard

Keep reading to learn the terms and details of each credit card.

1. Credit One Bank Visa Credit Card

The Credit One Bank Visa Credit Card is an excellent option to improve your bad credit. Credit One Bank Visa Credit Card has a rewards program that allows you to receive a 1% cash back on purchases like groceries and gas and services like mobile internet, phone, and cable. Also, one of the great features is that you get to choose your own payment due date.

  • Best for: building credit.
  • Minimum credit score required to qualify: 300
  • APR: 24-26.24% (variable).
  • Annual fees: $0-$75 for the first year, $0-$99 each additional year.

2. Discover it Secured

The Discover it Secured is one of the best credit cards for bad credit for cashback. With its reward program, Discover it Secured enables you to get  2% cashback on up to $1,000 a quarter at restaurants and gas stations, plus 1% on all other purchases. Just keep in mind that it requires a refundable deposit of $200.

  • Best for: getting cashback
  • Minimum credit score required to qualify: 350
  • Regular APR: 22.99%
  • Annual fees: $0

3. Capital One Secured Mastercard

The Capital One Secured Mastercard is one of the best credit-builder cards, given that it doesn’t come with annuals fees or hidden costs. Besides, it’s possible to get access to a higher credit line if you make on-time payments for five months. However, you need to put down a refundable deposit of  $49, $99, or $200 to get a credit limit of $200.

  • Best for: rebuilding credit with minimal upfront costs
  • Minimum credit score required to qualify: 350
  • APR: 26.99% (variable)
  • Annual fees: $0

4. Indigo Platinum Mastercard

The Indigo Platinum Mastercard is one of the most convenient credit cards for bad credit for anybody who has filed bankruptcy; Celtic Bank issues the card. Indigo Platinum Mastercard offers an easy pre-qualification process that doesn’t affect your credit score. Plus, there are other convenient features such as only a 1% foreign transaction fee and travel benefits. For instance: if you pay for your car rental using this card, you’ll get coverage against theft and physical damage.

  • Best for: anybody that has filed for bankruptcy
  • Minimum credit score required to qualify: 350
  • APR: 24.9%
  • Annual fees: $75 the first year, $99 after

5. DCU Visa Platinum Secured Credit Card

The DCU Visa Platinum Secured Credit Card is an excellent choice for people with bad credit looking for an economical solution. DCU Visa Platinum Secured Credit Card comes with no fees, a low interest rate, and flexible credit amounts, meaning you can cash practically as much as you wish. Besides, it offers car rental, travel, and insurance benefits. Unfortunately, there are no rewards.

  • Best for: low interests and no fees
  • Minimum credit score required to qualify: 300
  • APR: 11.50%
  • Annual fees: $0

6. Total Visa Credit Card

The Total Visa Credit Card is one of the best credit cards for bad credit that will help you rebuild your credit. The bank will report your credit-building habits to the three main credit bureaus. However, Total Visa Credit Card comes with a program fee, an annual fee, a monthly service fee, and has an initial credit limit of only $300.

  • Best for: people who need to become disciplined about their credit.
  • Minimum credit score required to qualify: 300
  • APR: 34.99%
  • Annual fees: $75 the first year, $48 after

7. OpenSky Secured Visa Credit Card

The OpenSky Secured Visa Credit Card is a convenient option for anyone who wants to avoid a credit check. Plus, you don’t need a bank account to qualify, and you’ll be able to build your credit quickly, given that the issuer reports to the three major credit bureaus. On the other hand, OpenSky Secured Visa Credit Card has an annual fee and requires a $200 minimum deposit.

  • Best for: no credit check
  • Minimum credit score required to qualify: 300
  • APR: 17.39%
  • Annual fees: $35

8. Green Dot Platinum Card

The Green Dot Platinum Card is one of the best credit cards for bad credit, especially if you’ve been struggling to get approved for a credit card. Green Dot Platinum Visa Credit Card is a credit card funded by your initial deposit. That means your credit limit is equal to the amount of the refundable security deposit. With on-time payments and responsible use, you could see your credit score improve. And, since there’s no credit check, there’s no effect on your credit when you apply.

  • Best for: gaining credit discipline
  • There’s no credit check to qualify
  • APR: 19.99%
  • Annual fees: $39

9. Credit Builder Secured Visa Credit Card

Even though Credit Builder Secured Visa Credit Card doesn’t offer rewards and has a high APR, it has no annual fee. It allows you to set your own credit limit between $300 and $3,000 based on the amount you deposit into your Credit Builder Savings account. Armed Forces Bank will also help you build your credit history by reporting your financial performance to the three major credit bureaus.

  • Best for: a flexible credit limit.
  • Minimum credit score required to qualify: 300
  • APR: 25.99% (variable).
  • Annual fees: $0

10. First Progress Secured Mastercard

The last option for the best credit cards for bad credit is First Progress Secured Mastercard, which has 3 different credit card options. There is no minimum credit score or history required to get approved. Likewise, the use of this credit card is reported to the three major reporting agencies. The minimum deposit required is $200.

  • Best for: building or rebuilding your credit history
  • It doesn’t require a minimum credit score to qualify
  • APR: 5.24% for the Platinum Prestige, 9.24% for the Platinum Select, and 15.24% for the Platinum Elite
  • Annual fees: $29, $39, and $49, respectively

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Is There Any Other Alternative to Access Capital With No Credit History?

Yes, there is! Camino Financial small business loans.

You don’t need a credit history or a minimum FICO score to qualify for a business loan with us, just a few simple requirements. However, remember that solid credit history will allow you to be eligible for lower interest rates. Besides, we offer:

  • Fast funding.
  • Larger loan amounts than the credit cards shown above.
  • So you know exactly what you owe every month and are in control of your finances, we offer fixed monthly payments.
  • Lower interest rates than most credit cards.
  • Apart from the interest, you only have to pay a closing fee. No hidden costs. 
  • Our loans are unsecured: you don’t need to put up collateral to guarantee your loan.
  • Applying for a loan with us won’t impact your credit.
  • We report all your payments to Experian so that you can build your credit.

Not convinced yet? Find here a detailed comparison of business credit cards with our business loans.

Our priority is to help businesses improve their financial performance and thus access better capital opportunities. For this reason, we have numerous resources that will help you rebuild or improve your credit.

Now that you’ve discovered the best credit cards for bad credit, learn how to improve your credit score to access better business opportunities:

Credit score concept. Vector of a businessman pushing scale changing credit information from poor to good. concept: how to improve your credit score

Everything you need to know to improve your credit score

 

 

Credit Cards for Bad Credit FAQs

What is the easiest credit card to get with bad credit?

All of the credit cards listed above are designed for people with bad credit. Check the minimum credit score required to qualify and the other features to find the one that best suits your needs.

What is the easiest credit card to be approved for?

OpenSky Secured Visa Credit Card and Green Dot Platinum Visa Credit Card may be the best options since they don’t perform a credit check.

What credit cards can I get with a 500 credit score?

If you have a credit score of 500 or below, you can apply for a secured credit card (meaning you’ll be required to put up collateral to be approved).

Can I get a loan if I don’t have a credit score?

Yes! But you have to be very careful with what type of lender you apply with. For example, Merchant Cash Advances (MCAs) or payday loans might not require you to have a good credit score but are VERY expensive.

Other lenders, like Camino Financial, can approve a loan even if you have bad credit if you are already working to repair it.

 

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