Unsecured credit cards don’t require you to make a deposit for the same amount as your credit limit. They typically also feature higher lines of credit and attractive rewards, including cash back and low-to-no annual fees.
Table of Contents
Unsecured Credit Cards for Bad Credit
Here, we list 10 of the top unsecured credit cards on the market, including brief descriptions about them, their annual and other fees, regular and introductory annual percentage rates (APRs), and related rewards.
Surge Mastercard®
Issued by Continental Finance, the Surge Mastercard® is ideal for all credit types and includes free access to your VantageScore 3.0 credit score, credit limits between $300 and $750 (plus free automatic reviews for limit increases), and $0 fraud liability. The card also delivers monthly reporting to the three major credit bureaus.
The Surge Mastercard® doesn’t offer any rewards, though, and their interest rates are on the higher side. The credit card also comes with an annual fee between $75 and $99.
- Annual fee:$75 to $99;
- Regular APR:25.90% to 29.99%;
- Intro APR:N/A;
- Rewards rate:N/A.
- Compare cards here.
Destiny Mastercard®
The Destiny Mastercard® from First Electronic Bank is ideal if you need to build your credit, even following bankruptcy. They report your account to all three credit rating bureaus, and you can even receive prequalification using a soft credit inquiry that won’t affect your score.
The Destiny Mastercard® also offers 24/7 online account access, ID theft protection, zero liability fraud protection, and your choice of card design at no extra charge.
However, the Destiny Mastercard® comes with an annual fee of between $59 and $99, a static 24.9% APR, and no introductory or rewards offers.
- Annual fee:$59 to $99, depending on the card issued;
- Regular APR:24.9% (29.90% for cash advances);
- Intro APR:N/A;
- Rewards rate:N/A.
- Compare cards here.
Petal® 1 “No Annual Fee” Visa® Credit Card
Suppose you’re looking to build or rebuild your credit history. In that case, the Petal® 1 “No Annual Fee” Visa® Credit Card features limits between $500 and $5,000, no annual or international transaction fees, 2% to 10% cash back from select merchants, and requires no deposit.
Once you’re set up, the Petal® 1 card’s mobile app makes it easy to manage your money, track your spending, and automate monthly payments. The card’s issuer, WebBank, will also report your payments to each of the three credit bureaus.
- Annual fee: $0;
- Regular APR:19.99% to 29.49%;
- Intro APR:N/A;
- Rewards rate:2% to 10% cash back from select merchants.
- Compare cards here.
Credit One Bank® Visa® for Rebuilding Credit
The Credit One Bank® Visa® for Rebuilding Credit allows you to earn 1% cash back on all eligible purchases for gas, groceries, and certain services like mobile phone, internet, cable, and satellite TV. And because the issuer reports to the credit bureaus monthly, the card can also help boost your credit score.
The Rebuilding Credit Visa® card also features $0 fraud liability protection, automatic reviews for credit line increases, and free online access to your Experian credit score.
- Annual fee: $0 to $99;
- Regular APR:17.99% to 23.99%;
- Intro APR:N/A;
- Rewards rate:1% cash-back rewards on eligible purchases.
- Compare cards here.
Total Visa® Unsecured Credit Card
If you have a checking account, you can receive pre-approval for the Total Visa® Unsecured Credit Card in seconds. Each card comes with a $300 credit limit and features the ability to select your favorite design. The issuer also reports to all three credit reporting bureaus monthly.
Keep in mind that the Total Visa® card comes with several different fees that can add up over the year, as well as a steep 34.99% APR and no rewards.
- Annual fee: $89 program fee upon approval. Then a $75 fee for the first year and $48 annually thereafter. There is also a $6.25 monthly service fee;
- Regular APR: 34.99%;
- Intro APR:N/A;
- Rewards rate:N/A.
- Compare cards here.
First Premier® Bank Credit Card
The unsecured First Premier® Bank Credit Card from The Bank of Missouri features a $300 credit limit and monthly reporting to all three major credit agencies to help rebuild your score.
After using their easy and secure online application and receiving approval, you can use this full-featured card at millions of merchant and ATM locations. And while you’re doing this, you can gradually rebuild your credit.
- Annual fee: $95 one-time program fee upon approval. Then a $75.00 fee for the first year and $48 annually thereafter. There is also a $6.25 monthly service fee;
- Regular APR: 36%;
- Intro APR:N/A;
- Rewards rate:N/A.
- Compare cards here.
Applied Bank® Unsecured Classic Visa® Card
The Applied Bank® Unsecured Classic Visa® Card doesn’t require perfect credit for approval, comes with a fixed APR, and doesn’t charge late payment penalties. The card’s issuer also reports to all three major credit bureaus monthly.
With a history of on-time payments and responsible usage, you can gain access to additional credit as long as you pay a $100 credit limit increase fee. Along these same lines, the Unsecured Classic Visa® Card from Applied Bank® also features several one-time and annual fees, which can add up over time.
- Annual fee: $89 processing fee upon approval. Then a $75 fee for the first year and $45 annually thereafter. There is also a $6.25 monthly service fee after the first year;
- Regular APR: 29.99%;
- Intro APR:N/A;
- Rewards rate:N/A.
- Compare cards here.
Capital One Platinum Credit Card
Capital One’s Platinum Credit Card is targeted at those with no credit history, comes with no annual fees, and can help you responsibly build your credit. You could also be considered for a higher credit line in as little as six months.
The Platinum card boasts many of the same features as other cards in this list, including online access and fraud coverage if your card is lost or stolen. However, the card also comes with a relatively steep 26.99% variable APR and doesn’t offer any rewards.
- Annual fee: N/A;
- Regular APR: 26.99% variable;
- Intro APR:N/A;
- Rewards rate:N/A.
- Compare cards here.
Petal® 2 “Cash Back, No Fees” Visa® Credit Card
With no fees whatsoever, credit limits between $500 and $10,000, and several ways to earn cash back, the Petal® 2 “Cash Back, No Fees” Visa® credit card can be a great way to build or rebuild your credit.
The issuer also reports to all three major credit bureaus monthly and allows you to manage your money, track your spending, and automate your payments via their website or the Petal app.
- Annual fee: N/A;
- Regular APR: 12.99% to 26.99% variable;
- Intro APR:N/A;
- Rewards rate:Up to 1.5% cash back; 2% to 10% cash back from select merchants.
- Compare cards here.
Capital One QuicksilverOne Cash Rewards Credit Card
Capital One QuicksilverOne Cash Rewards Credit Card lets you earn unlimited 1.5% cash back that doesn’t expire, gives you the opportunity to earn cash rewards, and provides access to Capital One’s CreditWise app that helps you to monitor your credit profile.
With responsible usage of the QuicksilverOne card, you could be approved for a higher credit line in as little as six months.
- Annual fee: $39;
- Regular APR: 26.99% variable;
- Intro APR:N/A;
- Rewards rate: Unlimited 1.5% cash back on every purchase.
- Compare cards here.
Upgrade Visa® Card with Cash Rewards
The Upgrade Visa® Card with Cash Rewards is another unsecured option that features unlimited 1.5% cash back on purchases and no annual, activation, or maintenance fees.
Compared to a traditional credit card, the Upgrade Visa® with Cash Rewards also allows you to have money sent to your bank account. Like standard options, though, you’ll have 24/7 access to your account wherever you are via their mobile app and $0 fraud protection.
- Annual fee: N/A;
- Regular APR: 8.99% to 29.99%;
- Intro APR:N/A;
- Rewards rate: 1.5% unlimited cash back.
- Compare cards here.
If you’re interested in moving forward, how should you go about getting one of these unsecured credit cards?
How to Get a Guaranteed Approval Unsecured Credit Card
You can successfully apply for an unsecured credit card using the following steps:
- Fill out an application to see if you pre-qualify;
- Proceed with the approval, which will create a hard inquiry on your credit reports;
- Implement good financial habits to make sure you can pay your balance each month.
You can also increase your chances of approval for these cards by monitoring and improving your credit score and practicing good financial habits. Still, most of these options target individuals with poor, fair, or no credit.
How to Pick the Right Guaranteed Approval Unsecured Credit Card
The path to picking the right credit card begins with checking your credit scores with all three reporting bureaus, so you’ll better understand which options you’ll qualify for.
Then, you need to determine which card will work best based on your needs and preferences. Don’t forget to read through the card’s terms to better understand its fees, interest rates, and other crucial information.
Based on these details, make sure you don’t choose credit cards that come with non-competitive rates or annual fees you can’t afford.
Image Source: https://depositphotos.com/
Keep Learning
