What Is the Easiest Credit Card to Get Approved For In 2022?

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What Is the Easiest Credit Card to Get Approved For In 2022?

Credit cards are an easy method to make purchases, pay payments, and book vacation. Many credit cards also provide cash back, points, or miles on purchases, which may save you money. A credit card may also aid in the establishment and maintenance of a strong credit score.

But which credit card is the simplest to get if you have a small credit history or low credit? Here’s a deeper look at which cards could be available.

Key Takeaways

  • When making acceptance choices, credit card firms rely heavily on credit ratings.
  • A credit card may be secured, which needs a cash deposit, or unsecured, which does not require a deposit.
  • It is possible to get a credit card with no or low credit, but you may be subject to a higher APR and/or fees.
  • Secured cards are an excellent technique to construct a thin credit file, as long as you have adequate cash for the deposit.
  • When compared to secured credit cards, unsecured credit cards often offer better interest rates, rewards programs, and perks.

Credit Card Approval Requirements

Credit card companies have different requirements for approval. However, the following considerations are normally taken into account when applying for a card:

  • Your credit score
  • Your income
  • Your employment
  • Your rent or mortgage payment each month

These factors provide card issuers with information on your capacity and probability of repaying credit card purchases. Credit card providers may also do a hard inquiry on your credit report in order to discover more about your credit history. This may help you improve your credit score. 1

Note

Checking your personal credit reports before applying for a credit card will have no impact on your credit score.

What Is the Easiest Credit Card to Be Approved For?

The simplest credit card to get differs for each individual since it is determined by your credit score and the other parameters outlined above. The credit cards accessible to you may also be determined by whether or not you:

  • You’re a student
  • You have no credit or a limited credit history.
  • You have bad or poor credit

If any of these apply to you, some kinds of credit cards will be simpler to get than others. Student credit cards, starting credit cards, and secured credit cards are among them.

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Student Credit Cards

Student credit cards are intended for college students who are just starting to build a credit history. These cards may or may not give rewards, and if they do, they are usually oriented toward expenditures that students make the most of, such as eating out or petrol.

If you have no or a limited credit history, a student credit card may be simpler to get than a conventional one. To receive a student credit card in your name, the federal CARD Act requires you to be at least 21 years old, however you may apply as early as 18 provided you have adequate money or a cosigner who is at least 21.2 years old.

Starter Credit Cards

Starter credit cards are also intended for persons who are new to credit but are not necessarily students. These cards are more likely to include yearly fees as well as a higher annual percentage rate (APR).

Secured Credit Cards

Secured credit cards function similarly to unsecured credit cards, with the exception that they need a cash deposit to open. This deposit is usually twice the amount of your credit limit. The distinction is that a regular secured credit card would generally need a hard credit check to be accepted. After a period of time using a secured card and demonstrating responsible credit usage, you may be qualified to upgrade to a standard, unsecured card.

Important

Make sure the credit card provider reports your activities to at least one of the main credit agencies before applying for a starting or secured card. Using the card else will not help you gain credit.

What Is the Easiest Credit Card to Get With No Credit or Thin Credit?

You have no credit if you have no credit history at all. A thin credit file indicates that you have some credit history, but it is insufficient to create a credit score. In any instance, while applying for new credit, you may be “invisible” to credit card firms.

In such instance, a starter card or secured credit card may be the simplest to get. You may be eligible for the following cards:

  • OpenSky Secured Visa: The OpenSky Secured Visa is a secured credit card with no credit check. You may establish your credit limit by depositing $200 to $3,000 in cash, and your account activity will be recorded to all three major credit agencies. 3
  • First Progress Platinum Elite Secured Mastercard: There is no credit history or minimum credit score requirement for approval of the First Progress Platinum Elite Secured Mastercard. Your security deposit is refundable, and the card is accepted across the United States. 4
  • Deserve EDU Mastercard for Students: Because it does not need a Social Security number to apply, it may be suitable for overseas students. 5
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What Is the Easiest Credit Card to Get With Fair Credit?

If you have acceptable credit rather than no credit or terrible credit, you may have a distinct set of credit card alternatives. On the FICO credit scoring scale, fair credit is defined as a score between 580 and 669.6.

Here are some of the most straightforward credit cards to get with fair credit:

  • Capital One Platinum Mastercard: The Capital One Platinum Mastercard is designed for consumers with fair credit who want to improve their credit score. This card has no annual charge and comes with CreditWise credit monitoring. 7
  • Discover it Secured Card: The Discover it Secured Card may assist in the establishment or restoration of credit. A refundable security deposit is needed. There is also a cash-back rewards program with this card. 8
  • Credit One Platinum Rewards Visa: The Credit One Platinum Rewards Visa is intended for consumers with average credit who want to receive rewards on their transactions. Keep in mind that this card has an annual fee and a higher APR, which may make carrying a debt costly. 9

What Is the Easiest Unsecured Credit Card to Get Approved for?

Unsecured credit cards do not need a cash deposit to be opened. If your credit is fair or even low, you may be able to get certain unsecured cards.

Consider the following unsecured card choices if you have bad or no credit:

  • Credit One Bank Platinum Visa: This credit card gives cash back with no security deposit necessary. However, there is an annual charge with this card. 9
  • Total Visa: The Total Visa is an unsecured credit card that is intended for persons with less-than-perfect credit. The card reports to all three credit agencies, which might aid in the development of a positive credit history. It should be noted that there is an initial program charge for starting an account. 10
  • Petal 2 Visa: The Petal 2 Visa is a cash-back rewards card with no fees that provides increased credit limits. There is no sign-up fee, and you may use the card to build or rebuild credit. 11
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How Long Does It Take to Approve a Credit Card?

Although immediate approval is conceivable, most organizations require a week or two to accept a credit card application. During this period, the credit card firm will review your borrowing history to establish your creditworthiness.

What Credit Score Do I Need to Get Approved for a Credit Card?

A FICO credit score of 750 or better will qualify you for practically every credit card available. A “fair” credit score of 620 or better may also qualify you for certain cards, but you may be subject to higher interest rates or a reduced credit limit. A secured credit card is your best choice if your credit score is 580 or below. You must offer a specified amount of collateral, which may be lost if you fail to make the appropriate payments.

What Are Instant Approval Credit Cards?

An instant approval credit card is one that evaluates applicants right away. These often include an online application with basic inquiries regarding the applicant’s identification and financial status. Once submitted, the applicant gets an instant decision of approval or refusal.

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