Guaranteed Approval Credit Cards With $1,000 Limits For Bad Credit No Deposit
If your credit profile isn’t that hot, finding a guaranteed credit card with a $1,000 limit can be beneficial to improve your credit score over time. “Guaranteed approval” may sound like the answer to your credit card problem. Still, the fact is that every credit card has some basic requirements before a company issues it. A vital element of these so-called approved credit cards is that their eligibility requirements are usually minimal.
How Can I Get A Guaranteed Approval Unsecured Credit Cards For Bad Credit?
A refundable deposit is essential for secure credit card authorization. Most importantly, the deposit amount is credited up to your credit limit. However, to receive a card with a $1,000 credit limit, you must deposit $1,000. If you close your credit card account, your credit card company will fully refund your deposit. Secure cards do not require credit score verification when backing up with cash. This card is the closest thing for guaranteed approval in the financial world. If you have a higher credit line, you can add it later. Secured cards are not considered prepaid cards. With a prepaid card, you pay upfront and use it for all your purchases. The deposit is not considered a payment but serves as security in default.
Best Credit Cards With $1000 Limit Guaranteed Approval
Here’s is the list of guaranteed approval credit cards for your bad credit score. Let’s continue reading!
The Surge Mastercard is provided by Continental Finance and issued by Celtic Bank. Certainly, it’s a free card with no liability for fraud with an initial credit limit of up to $1,000. In addition to annual fees, it expects high yearly income and costs. This fee includes monthly service charges, cash advances and international transactions. Most importantly, fast phone bills, extra cards, and return or late fees are included in it. Pay your bills on time for at least six months and get a higher credit line up to $2,000. However, to get the most out of this card, take a look at our mobile app and optional credit protection plans.
- Increase your credit limit from $1,000 to $2,000!
- All types of loan applications are available!
- Experian Vantage 3.0 score* free access (with real estate subscription)
- The initial credit limit is 300-1000 USD* (if you have a loan)
- Monthly reporting to 3 major credit rating agencies
- Make sure you are pre-qualified without affecting your credit score.
2. Reflex Mastercard
Except for the fact that Reflex Mastercard® customers include consumers with no credit history, this card is a copy of the Surge Mastercard®. Certainly, it is not surprising that they offer the same high-interest rates and fees from the same backers and issuers. Most importantly, both cards prohibit cash withdrawals for the first 95 days after opening an account. However, there is no monthly maintenance fee for the first year.
- Increase your credit limit of up to $1,000 to $2,000
- Make sure you are pre-qualified
- Certainly, all types of loans are welcome
- Experian Vantage 3.0 score* free access
- The initial credit limit is 300-1000 USD*
- Monthly reporting to 3 major credit rating agencies
- The quick and easy application process
3. Capital One Secured Credit
Capital One Secured MasterCard is a well-known credit card with low maintenance costs. It doesn’t imply any entrance fee or annual fee for its users. Likewise, it does not charge balance transfer fees and international transaction fees. It sets a higher periodic interest rate of 26.99%, which is relatively high than other cards‘ regular annual interest rates.
Your credit score will not affect your chances of being approved. Even if you don’t have a bad credit score, you can still get a Capital One Secured MasterCard. So these credit cards can be counted as approved guaranteed credit cards. Security cards require a $200 deposit and have a credit limit of $200-$1,000.
- No credit score is required to authorize this card
- There is no cashback reward
- Certainly, it doesn’t apply any hidden charges
- Most importantly, there is no annual fee
- It helps you to build your credit history
- The initial line of credit starts from $200 and goes to $1000
4. Applied Bank Secured Credit Card
The maximum initial credit limit for the Applied Bank® Secured Visa® Gold Preferred® credit card is $1,000, which can be increased up to a maximum of $5,000 during the term of liability. You’ll also notice an excellent low fixed rate. Still, this card doesn’t offer an interest-free grace period, so you always charge interest on your purchases.
- Better than prepaid, it uses a security card!
- Minimum credit score is not required
- 9.99% lower fixed rate – interest rates don’t go up even if it’s late
- Activate today with a deposit of as little as $200 – up to $1,000
- Increase your credit limit to $5,000 by adding additional deposits at any time
4. Petal 1 Visa Credit Card
Visa Petal 1 No Annual Fee is an excellent credit card with low maintenance costs. It doesn’t demand any annual or entrance fee. Likewise, we do not charge any balance transfer fees or international transaction fees. It sets you a moderate yearly interest rate (19.49% and 29.49%).
Even if you have a bad credit score, average credit score, or no credit score, you can still get a Visa Petal 1 card with no annual fee. Security cards require a $500 deposit and have a $500-$5,000 credit limit. All three major US credit rating agencies reported the actual credit card. In addition, you can check your bank transaction history and current credit rating, so you can easily make a loan.
- No annual fee
- No balance transfer fees
- Better financial condition
- It gives you 2-10% cashback on purchases
- Extend your credit limit from $500 to $5,000
- International transaction fees do not apply to international purchases
- If you use your credit card responsibly, you can increase your credit limit within the next six months.
5. First Access Credit Card
The First Access credit card is a Bank of Missouri card designed to help you increase or rebuild your credit. The bank says this will return to an essential loan product with improved features and services. This one is different from unsecured credit cards, which have a line of credit (usually set at around $300). As with any other card, your payment is also supported by First Access credit cards as they report your credit score to the credit bureau. If another bank doesn’t approve your credit card application, you can get it approved in less than 60 seconds.
The card has several fees, including a costly one-time fee to join the program. It also has a much higher annual fee than comparable products, making it ideal for those looking for an easy-to-charge card. During the second year, you can apply for a credit limit increase. However, it will charge a monthly service fee exceeding the annual fee. They also do not receive cash rewards or other features like special travel privileges or concierge services.
- After the first month of subscription, zero service charges
- Best choice to build your credit score
- The credit limit ranges from $300 to $1000
- Multiple access to card acceptance
When Should You Apply For Guaranteed Approval Credit Cards With Bad Credits?
A regular credit card is a financial product that allows you to use the money you haven’t deposited yet. The risk of default (i.e., non-payment of the loan) is too high when applying for a regular credit card. It would be best to have a good credit score as it warns the issuer to approve your application.
However, credit cards for people with bad credit have a smoother approval process, allowing more applicants to be accepted. The application process may be easier for people with poor credit history. If your credit score is less than 630 and you have a minimum credit history, consider applying for a credit card for bad credit.
Credit cards may be one of the most convenient ways to access your money, but not everyone has the right to issue a credit card in their name. It can be challenging to get a card for people with bad credit scores or history. If you are in this group, you may want to consider the credit mentioned above to build positive credit. Applying for a credit card with bad credit is possible. It can be surprisingly easy once you understand the rules. We hope our review will help you in your decision and this will be helpful to others who are just applying for a card for the first time.