Writer: Brittney Mayer
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
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Despite how you get there, being stuck trying to rebuild bad credit can be a difficult situation. Unfortunately, even if you have made the decision to turn over a new financial leaf, the credit card companies are generally unwilling to take your word for it.
On the plus side, a number of credit card issuers are happy to offer credit to the credit-challenged. On the negative side, those offers typically come with strings attached that make them less desirable. For instance, secured credit cards are the easiest to obtain with poor credit, but require an upfront cash deposit to open.
At the same time, those looking to avoid an initial deposit will face other complications. Primarily, the choice will likely come down to a store card with limited usability or a universal unsecured card with high interest rates and fees. For those who can’t afford to — or simply do not wish to — make an initial cash deposit, the limitations and/or increased fees of an unsecured credit card may be worth the trade.
In this article, we’ll explore our top selections for the best credit cards for bad credit — no deposit necessary.
Mastercard (4) | Visa (4) | Store Cards (1)
The Best Mastercard Cards for Bad Credit with No Deposit
The Mastercard credit card network was established more than 50 years ago in a response to the success of Visa. Processing credit card transactions in more than 210 countries and territories and boasting more than 1 billion worldwide cardholders, Mastercard is the second-largest credit card network in the world, just behind Visa.
Mastercard credit cards are issued by hundreds of organizations, from large institutions to independent banks and credit unions, providing cards for every consumer type and credit range.
- PREMIER Bankcard credit cards are for building credit.
- Start building credit by keeping your balances low and paying all your bills on time each month.
- When you need assistance our award-winning US-based Customer Service agents are there to help.
- Credit Limit Increase Eligible after 12 months of consistent responsible account management.
- We report monthly to the Consumer Reporting Agencies to help you build your credit.
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 4 minutes | See Provider Website | Yes | 9.0/10 |
The PREMIER Bankcard® Mastercard® Credit Card is our first option for those with bad credit. It’s reported that applicants with scores as low as 500+ may be approved, but it charges a high APR and an annual fee for the privilege (See Provider Website for full Terms & Conditions).
- Up to $1,000 Initial Credit Limit
- See if you Pre-Qualify with No Impact to your Credit Score
- Less than perfect credit? We understand. The Surge Mastercard is ideal for people looking to rebuild their credit.
- Unsecured credit card requires No Security Deposit
- Perfect card for everyday purchases and unexpected expenses
- Monthly reporting to the three major credit bureaus
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 5 minutes | 35.90% Fixed | Yes | 8.5/10 |
The Surge® Platinum Mastercard® offers a lower interest rate than the cards above, and you can see whether you prequalify on the issuer’s website before you apply. Simply click the “Apply Now” button to be transferred.
- Earn Cash Back Rewards* – 3% on Eligible Gas, Groceries, and Utilities, and 1% on All Other Eligible Purchases
- Use Anywhere Mastercard is Accepted
- No Security Deposit
- $0 fraud liability**
- Free access to your Credit Score†
*See Program Terms for important information about the cash back rewards program.
**Fraud liability subject to Mastercard rules.
† Your credit score will be available in your online account starting 60 days after your account is opened. (Registration required.) The free VantageScore 4.0 credit score provided by TransUnion® is for educational purposes only. This score may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 7 minutes | 36% Fixed | Yes | 8.0/10 |
The Fortiva® Cash Back Rewards Mastercard will let you prequalify for a credit limit of up to $1,000. It also pays up to 3% cash back rewards on select purchases. Watch for a high APR and annual fee, though.
- Guaranteed $700 credit limit if approved.
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- Don't Have Perfect Credit? No Problem!
- Join over a million consumers who are working on building their access to credit.
- Zero Fraud Liability - Peace of mind that comes with having a Mastercard.
- Get the credit you deserve, even with less-than-perfect history.
- No security deposit, and a path to better credit.
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 8 minutes | See terms | Yes | 9.0/10 |
The Milestone® Mastercard® has a fair interest rate (for someone with poor credit) and reports to all three credit bureaus, making it a solid choice for rebuilding credit. As a note, annual fees vary, depending on creditworthiness.
The Best Visa Cards for Bad Credit with No Deposit
The original credit card network, Visa has more than 3.9 billion credit cards in the pockets of cardholders across the globe, meaning that Visa is the largest credit card network in the world. Accepted by more than 80 million merchants around the world, Visa is also the most widely used card, making it perfect for those who shop in a variety of locations, either at home or on the go.
In addition to being widely accepted, Visa credit cards are widely issued, offered by a wide range of banks and credit unions for people of all credit types, including a variety of issuers specializing in subprime consumers. When comparing these cards, look for the lowest interest rates and fees in addition to available credit limits.
- Double the Rewards: Earn Up To 10% Cash Back on Purchases at select merchants & 1% Back on Payments!^^
- An initial credit limit Up To $500! (See terms*)
- Checking account required.
- Free credit monitoring powered by TransUnion®
- Fast and easy application process.
- All credit types welcome to apply.
- *See Rates, Fees, Costs & Limitations for complete offer details
- ^^1% Cash Back is earned on payments to your Credit Card. Up To 10% Cash Back is earned on qualifying purchases at select participating merchants. Offer percentages vary by merchant and are subject to change. See Total Card Visa Rewards Programs Terms & Conditions for details
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 9 minutes | 35.99%* | Yes | 8.5/10 |
The Total Visa® Card has an easy online application that offers a decision in minutes. Once approved applicants pay the one-time program fee, Total Visa® Card cardholders will receive an initial credit limit of up to $500. You’ll also be charged an annual fee each year you own the card.
6. Revvi Card
- 2X Rewards Power – Up To 10% Cash Back when you buy and 1% Cash Back when you pay!^^
- An initial credit limit Up To $500 (See terms*)
- Opportunity to request credit limit increase after twelve months, fee applies.
- A Card That Works as Hard as You Do – Earn Up to 10% Cash Back Rewards at select merchants, 1% on Payments and Build¹ Your Credit Along the Way!^^
- Reports monthly to all three major credit bureaus.
- *See Rates, Fees, Costs & Limitations for complete offer details
- ¹Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score. Results vary.
- ^^The 10% cash back rate is available only at a limited number of participating merchants. Offer percentages vary by merchant and are subject to change. See Revvi Rewards Programs Terms & Conditions for details.
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 8 minutes | 35.99%* | Yes | 8.0/10 |
The Revvi Card offers an initial credit limit of up to $500, subject to available credit, with the opportunity to request a credit limit increase after your first year. The application is fast and easy, and you can even earn cash back rewards on payments made to your Revvi Card.
- Earn Up To 10% Cash Back on everyday shopping with your First Access Card - Plus, another 1% back on payments!^^
- An initial credit limit Up To $500! (See terms*)
- Rebuild your credit and get rewarded with First Access.¹
- Applying only takes a few minutes, and we will provide a credit response in 60 seconds or less.
- *See Rates, Fees, Costs & Limitations for complete offer details
- ¹Account holders who pay their bill on time every month and keep their balance low relative to their credit line, may build or rebuilt their credit.
- ^^1% Cash Back is earned on payments to your Credit Card. Up To 10% Cash Back is earned on qualifying purchases at select participating merchants. Offer percentages vary by merchant and are subject to change. See First Access Rewards Programs Terms & Conditions for details
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 10 minutes | 35.99%* | Yes | 8.0/10 |
The First Access Visa® Card also has a program and annual fee. Keep in mind that the annual fee will be charged before you begin using your card, lowering your initial available credit. Both cards will also charge a monthly service fee after the first year.
The Best Store Cards for Bad Credit with No Deposit
Although the ideal way to increase your credit card approval odds is to improve your credit, thus reducing your apparent credit risk, you may find success approaching the problem from the other end. Specifically, you can reduce your potential credit risk by choosing a credit card that is inherently less risky.
For instance, store credit cards, such as Fingerhut’s unsecured credit account, can be much easier to obtain than other types of credit cards. This is due to the fact that you can only use them with the issuing store, which limits your apparent ability to accrue so much debt that you’d be unable to repay it, thus making it less risky for the issuer.
- Easy application! Get a credit decision in seconds.
- Build your credit history – Fingerhut reports to all 3 major credit bureaus
- Use your line of credit to shop thousands of items from great brands like Samsung, KitchenAid, and DeWalt
- Not an access card
- Click here for official site, terms, and details.
| Application Length | Interest Rate | Reports Monthly | Reputation Score |
|---|---|---|---|
| 5 Minutes | See issuer website | Yes | 9.0/10 |
That said, in the case of a Fingerhut credit account, the limitations are likely less noticeable than with other store cards. Originally a mail-order catalog company, the modern digital version of Fingerhut has literally thousands of popular items from which to make purchases, including categories ranging from bath and bedding to tires and tools.
Of course, as with most other credit accounts, a Fingerhut account or other store credit card will report your payment behavior to the three major credit bureaus, helping you rebuild your credit with responsible credit behavior.
Also like many other credit accounts, your Fingerhut account will charge you interest on balances carried from month to month, so be sure to pay your balance in full to avoid interest fees. (See complete WebBank/Fingerhut Advantage Credit Account Terms and Conditions.)
Rebuild Your Credit, No Deposit Required
No matter what circumstances led to your damaged credit, rebuilding it can be a long process, one requiring significant dedication. Luckily, consumers have a few options for getting back on track, even ones that won’t require a form of security or collateral.
One popular way to begin the process of rebuilding credit is to obtain a credit card you can use — responsibly — to establish a positive payment history, while also enjoying the perks and convenience afforded by purchasing with plastic. Make sure you research the associated costs, of course, and know all the potential fees ahead of time.
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