Who Gives Credit Cards to People With Bad Credit

by Violet WillettOctober 25, 2023
Who Gives Credit Cards to People With Bad Credit

Do you want to get a credit card but are worried about your bad credit score? Don’t worry because even at this point, there are still several options you can choose from.

Credit card companies who offer secured credit issue credit cards to people with no credit, fair credit, thin credit, and even bad credit. 

The Top Three Unsecured Credit Cards 

To obtain a secured credit card, the company requires a cash deposit from the cardholder. This deposit will serve as the collateral for the account in the event that the cardholder cannot make payments.

Below is an overview of the top three secured credit cards for those with bad credit. 

Discover it® Secured Credit Card

This credit card is one of the best on the market for people with bad credit. Although the initial deposit needs to be made with an existing bank account, this card offers a $0 annual fee and cash back rewards of up to $1000 per fiscal quarter. 

If you’re able to show good credit usage over the course of eight months, Discover may upgrade your account into an unsecured card. 

Secured Mastercard® from Capital One

As with Discover’s card, this option also has a zero annual fee but requires an existing bank account to register. Capital One’s card is accepted by locations all across the world, and users can easily check their account online or through the accompanying mobile app. 

The one downside is that this card doesn’t offer cash back rewards or points, but it’s still a good option for those who are looking for a reliable credit card. 

OpenSky® Secured Visa® Credit Card

OpenSky’s card is different from the first two in that it has an annual fee of $35. However, users don’t need a credit check to open an account: they can simply send the deposit through a money order or via Western Union. 

OpenSky also provides comprehensive credit education both on their website and through a dedicated Facebook page for fellow OpenSky credit card users. Building credit can be a challenge, but even those with bad credit can still work their way up with these great cards. If you want more tips and guides on how to build credit, check out our website.

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