Credit cards tend to be easy to get when you meet the right criteria, such as having sufficient and regular income and a good credit score. But you may find yourself in a situation where applying for a credit card is more of a challenge, and you may be looking for a card that's easier to get approved for, such as:
- You're building credit for the first time
- You're rebuilding your credit score
- You don't have a regular income
- You're a student
- You need credit in a hurry
While there's no such thing as a "guaranteed approval" credit card, most of the cards listed below perform a "soft pull" when you initially apply, so you'll know upfront if you're going to be approved before fully applying. This means the credit bureaus will only be notified of the application if you're approved, which protects your credit score from receiving too many hits from unsuccessful applications.
Another popular option for people with low or no credit is a secured credit card, which requires a deposit that acts as security against any money you may borrow. These cards are great for those seeking to build credit by showing responsible credit usage, like paying credit card bills on time, not exceeding your credit limits, and keeping your debt ratio low.
Easy approval criteria
While the criteria might be relaxed for easy approval credit cards, applicants still need to tick a few boxes. These are some of the factors that contribute to easy credit card approval:
Credit score
Some cards, such as secured credit cards, do not require a credit score. But for the most part, applicants need to have a fair to good score to qualify for an unsecured credit card.
Income and employment status
Income and employment status signal to lenders that you have the means to pay back what you borrow. However, some financial institutions are willing to forego these requirements if, for instance, there's a guarantor (someone who is willing to pay your debt if you fail to) or if the applicant is able to show other forms of income.
Relationship with the financial institution
An existing relationship with the financial institution could increase you chances of getting approved for their credit card, especially if you have a good track record with them.
Existing debt
When applying for a credit card, the lender will consider your existing debt. For instance, whether you've maintained the repayments and your debt-to-income ratio, which is how much of your income goes towards repaying your debt.
Easiest credit cards for bad credit to get approved for
Credit One Platinum Visa for Rebuilding Credit Card
The Credit One Platinum Visa for Rebuilding Credit Card offers a competitive cash-back offer of 1% on all purchases. The annual percentage rate (APR) is fairly high, but that's to be expected in this category of card. What makes it a great choice is that it's purpose-made for rebuilding credit, which means that even if you've experienced some difficulty managing your credit before, it shouldn't affect the application.
Avant Card
The AvantCard offers credit solutions for those looking to rebuild their credit. While the APR is high, they determine the variable rate when you apply. Credit limit increases are possible with good credit card use, such as keeping up with the repayments, paying on time, and keeping the card balance within its limit.
Capital One Platinum Credit Card
The Capital One Platinum Credit Card offers automatic credit line reviews after six months and only requires a fair credit score to apply.
Mission Lane Credit Card
The Mission Lane Credit Card offers a fuss-free online application process, and you can manage your card online, too.
Destiny Mastercard
The Destiny Mastercard provides an opportunity for those with no credit score or a low credit score the opportunity to build their credit without having to put down a security deposit. While this offers a great opportunity for those who need to build credit, the credit limit offered is fairly low at $700.
Easiest secured credit cards to get approved for
An alternative to unsecured credit cards for those with low to fair credit, is a secured credit card. A secured credit card requires you to keep funds in an account as collateral for your credit card, much like a security deposit. The limit of the card is often tied to this deposit. These cards are a great option for those with bad credit, since they help you rebuild your credit score.
Pros
- Usually quick to get approved for
- They can help you rebuild your credit faster
- More control over your spending as your deposit controls the spending limit
- Access to certain credit card benefits
- Many offer the opportunity to check whether you qualify without hurting your credit score
Cons
- You need a security deposit, which you won't have access to until the credit card company releases it
- These cards tend to have higher interest rates and fees compared to regular, unsecured cards
- Credit card companies often cap the credit limits around the $5,000 mark
- You may not have access to all the rewards and bonuses offered through regular credit cards
Capital One Secured Credit
The Capital One Secured Credit Card happens to be one of the easiest cards to get approved for. Proper use of the card can lead to an improved score, and credit limit increases are possible if you use the card correctly.
You can get your security deposit back after some time if you prove that you can maintain the card. This means paying it on time, paying at least the minimum installment, and remaining within the card limits.
Discover it Secured Credit
You may have your security deposit back in as little as seven months when approved for the Discover it Secured Credit Card. You can increase the security deposit by $100 up to $2,500. The responsible use of this credit card can help you build your credit score.
Easiest student credit cards to get approved for
Student credit cards don't often require any credit history, but they're limited in terms of eligibility. Many card issuers require you to meet some criteria, such as enrollment in a two- or four-year college or university course and showing proof of income.
Pros
- An opportunity to build your credit score
- Easier to apply for as a student than other credit cards
- Access to unique features and benefits designed for students
- Unsecured credit, which means there's no need for collateral
Cons
- The risk of building a bad credit score if you don't use the card correctly, such as not making at least minimum payments on time
- High interest rates
- Possible annual fees
- Lower credit limits than other credit card types
Discover it Student Cash Back
The Discover it Student Cash Back card affords you the opportunity to check whether you are pre-approved for the credit card without affecting your credit score. Benefits of this card include:
- You can earn 5% cash back up to the quarterly maximum, and your cash-back points don't expire
- You might have access to balance transfer offers from time to time. There's a 0% intro APR on balance transfers and purchases until September 10, 2024, for a period of 15 months and a balance transfer rate of 3%. Thereafter, this reverts to a variable APR with a 5% balance transfer fee.
- This card offers some of the most competitive APRs compared to other cards on this list
Easiest retail store cards to get approved for
If you're a regular shopper at a certain retail store, a retail store credit card might be a good option. Some retail stores offer credit cards for low or fair FICO credit scores, making them a little easier to apply for.
Pros
- Store cards often offer additional discounts or exclusive deals
- You have access to the retailer's rewards programs
- These cards are usually easier to apply for
Cons
- Store cards tend to be more costly than regular credit cards, with higher monthly fees and APRs
- Some store credit cards limit their usability to that store or stores within the partner network
- Your spending pattern may change to take advantage of special offers or points, which can lead to overspending
- Lower credit limits than many other credit card types
Kohl's Credit Card (Low to Fair FICO Score - 0 to 579)
The Kohl's Rewards Visa, managed by Capital One, offers its shoppers an opportunity to earn up to 7.5% in cash-back rewards on their Kohl's purchases. Starting in September 2024, cardholders can also use their card anywhere that accepts Visa. For those struggling to find a way to build their credit score, this is one of the easiest unsecured credit cards to apply for as you're not required to build up a credit score first.
Target Circle Credit Card (Fair to Good FICO Score - 580 to 669)
When your credit score is fair to good, and you don't qualify for regular credit cards, you may have an opportunity with the Target Circle Credit Card. There are no annual or monthly fees, making it an affordable choice if you're trying to find your financial footing. However, it's worth noting that applying for this card will require a hard credit pull.
Choosing an easy approval card
When you're in the market for a credit card and you need the application to be quick and not have it affect your credit score, it helps to look out for a card that offers pre-approval without making a hard credit inquiry.
Soft pull cards will give you insight into what you qualify for and credit card companies will only notify credit bureaus if you're actually approved for the card. Once you're approved for a credit card, the next step is strategic credit card management, which, if done correctly, can provide you with the opportunity to grow your credit score, credit availability, and financial stability.
