Guaranteed Approval Credit Cards of 2022 for Bad Credit

The Best Credit Cards of 2022 for People With Bad Credit

It’s possible that guaranteed approval credit cards may be useful if you have bad credit and are looking for a new credit card. If you’ve been having difficulties getting approved for credit cards, “Guarantee Approval” may seem like the perfect solution. Credit cards with a high probability of acceptance may have fewer restrictions.

Most issuers of this kind of card will demand that you provide proof of income exceeding a certain minimum amount in addition to having an active checking account. The severity of your credit situation is another consideration.

A credit score between 300 (the lowest FICO score) and 600 is often regarded as having terrible credit. However, some credit card companies may provide individuals with bad credit a chance to get an unsecured credit card. We look at credit cards that might be useful for those with bad credit, those who are repairing their credit, and those who are starting to create a credit history.

Secured Cards With Deposit-Based Approval

The majority of credit cards with assured approval are secured cards. With a secured credit card, you must pay a security deposit typically equal to the amount of credit given to you, minus any processing costs that may apply. If you maintain good standing with your account, this deposit is 100% refundable.

A benefit of secured credit cards is that they are often accessible to those with poor credit. Additionally, since the issuers of these cards submit information to the three leading credit agencies, timely payments and maintaining a low balance may benefit your credit score over time.

First, take into consideration the following secured credit cards:

1. Capital One Platinum Secured Card 

Depending on your credit history, the Capital One Platinum Secured Credit Card may need a deposit more minor than the credit limit you are granted. This card is an excellent option for those with poor credit since it has no annual fee and reports to all major credit agencies.

2. OpenSky® Secured Visa® Credit Card

There is no credit history or credit check for the OpenSky Secured Visa® Card. The OpenSky Secured Visa® card is the best option for someone with bad credit. All credit reporting agencies record your card activity. Some business credit reviews for weak credit have mentioned this secured Visa credit card.

3. Secured Sable ONE Credit Card 

A gem in the rough, the Secured Sable ONE Credit Card boasts a low APR, no annual fee, cash-back benefits, and no credit check necessary for acceptance. It has no minimum deposit requirement, unlike the other secured cards on our list, and additional perks like smartphone and auto rental insurance.

Unsecured Cards That Are Simple to Approve

A legitimate line of credit from the card issuer, an unsecured credit card doesn’t need a security deposit. However, a disadvantage of these unsecured credit cards for those with weak credit is that they sometimes have high fees and a high-interest rate, or APR. But if used sensibly, they may aid in credit repair and pave the way for you to get an unsecured card with better conditions.

You may like to have a look at some of our best-rated unsecured cards with easy approval:

4. Prior Bankruptcy is Acceptable for Indigo® Unsecured Mastercard®

For customers with negative or low credit ratings, the Indigo® Unsecured Mastercard® – Prior Bankruptcy is Okay provides speedy pre-approval choices. Your payment history will be recorded to all three major credit bureaus, which may help you improve credit over time if you use your credit responsibly, that is, by making on-time payments and keeping your balance low.

5. Reflex Mastercard® 

For people with a history of credit difficulties, the Reflex Mastercard® is a viable choice. You may check your eligibility for the card and prequalify without damaging your credit. Using this card responsibly may gradually raise your credit score since it will be reported to credit agencies.

6. FIT Mastercard®

Application for the FIT Mastercard® is quick and straightforward, and people with all sorts of credit are encouraged to do so. The card accommodates folks with bad credit and doesn’t need a security deposit. As long as credit is available, the card may be used anywhere that accepts Mastercard.

Prepaid Cards With Assurance of Acceptance

Prepaid Visa or Mastercards are a good option if you want the convenience of a card but despise credit and interest costs. They don’t need a credit check, but they can’t help you build credit since they aren’t reported to credit bureaus.

For most transactions, including online and in-store purchases, a prepaid card may be used instead of a credit card. Prepaid cards work similarly to debit cards linked to bank accounts in that they employ pre-loaded money to make purchases instead of credit cards linked to credit lines.

Prepaid cards may be replenished whenever necessary, sometimes for nothing at all. Some of our top prepaid suggestions are listed below:

7. Brinks Prepaid MasterCard

With the Brinks Prepaid Mastercard, you won’t get credit bureau reporting, but you may still make transactions everywhere Mastercard is accepted. This card is as close to a guarantee of acceptance as you can get, as there are no more conditions for eligibility beyond identification verification, including no income or credit checks.

8. Pay Pal Prepaid Mastercard® 

Anyone with a PayPal account should choose the PayPal Prepaid Mastercard®. Among other reload possibilities, you may simply move money between your budget and your prepaid Mastercard so you can make purchases in physical locations or online establishments that don’t take PayPal but do accept Mastercard.

9. NetSpend prepaid Visa card

There is no activation charge, no minimum balance requirement, and no credit check to apply for the NetSpend® Visa® Prepaid Card. Read the cardholder agreement carefully before placing an order for a prepaid card since they sometimes come with additional costs, such as monthly or per-transaction charges.

Guaranteed Credit Cards Alternatives

Consider asking for a negative credit loan if you need more money than a way to pay. A lending network will allow you to prequalify without harming your credit score.

In the prequalification phase, a direct lender will try to link you with one. The rates and conditions of the loan will be laid out for you so you can choose whether to apply or not. The loan money will be put into your bank account one business day after approval.

MoneyMutual, one of our top-rated lending networks, may match you with a poor credit loan offer for up to $5,000, far higher than the initial credit limit you’d get on a credit card.

  • MoneyMutual
  • BillsHappen®

Cash advance apps are another choice. Based on your income, these apps may match you with a short-term loan with no interest. To qualify, you must have a job and a bank account.

Your preferred merchant could also be able to issue you a closed-loop store credit card. Most retailers provide their credit cards, often in two varieties: one that can be used everywhere and uses the Visa, Mastercard, or Amex payment network, and another that can only be used at that particular retailer. Typically, candidates with poor credit are only eligible for the option that can only be utilized at the shop.

A shop card won’t let you pay for goods outside the store, but since the account will show up on your credit report, it will help you develop credit.

Finally, credit unions are the source of easy-to-qualify Payday Alternative Loans. They provide reasonable interest rates and conditions, but you must be a credit union member to be eligible. To find one close to you, utilize this tool from the National Credit Union Administration.

What Are Credit Cards With Instant Approval?

Any credit card that provides you with a prompt approval decision after submitting your application is an instant approval credit card. Whether it is granted or rejected, the majority of major credit cards deliver a decision very instantly.

A credit card with quick approval is not one with assured acceptance. No card gives universal acceptance except for two secured cards. The Secured Sable ONE Credit Card and the OpenSky® Secured Visa® Credit Card.

No unsecured credit card can guarantee approval.

Unless you pick a secured card, a credit card issuer will require you to meet certain restrictions. Secured cards don’t verify credit. You’ll receive your security deposit returned after using the card responsibly.

After submitting your application, you will probably get an immediate approval decision. Your card will be sent to you if accepted, and you should have it in seven to ten business days. If you are rejected, you will get an Adverse Action Notice letter explaining why.

These variables may help you boost your credit score. You may be qualified for the best travel or cash rewards credit card soon.

Author: Jay Batson

My Name is Jay has and I have a passion for financial writing. I am the chief writer on this blog. I do my best to verify all the information but if there is anything amiss please let me know and I will do my best to correct it.

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