Applying for credit cards or a $500 payday loan guaranteed with bad credit is frustrating. Approval is challenging, and limits are often insufficient when you want to get guaranteed loans for bad credit. Discover the best approval credit cards for bad credit, helping build trustworthiness and increase borrowing power.
Best Guaranteed Approval Credit Cards with $1000 Limits for Bad Credit
In general, most people know about Visa and MasterCard. But they do not know or pay attention to things like Secured or Unsecured credit cards and debit cards. To be precise, the difference between these 2 terms is in the credit cards bad credit guaranteed approval requirements (whether you have to deposit money or not). The worse your score is, the fewer options you will have.
However, it is not like no option is available, even if your payment history is terrible. Therefore, you can get an unsecured credit card bad credit guaranteed approval with a low limit to purchase whatever you need. Below are some of the best guaranteed approval credit cards for bad credit options available to you, so check them out.
OpenSky® Secured Visa® Credit Card
The OpenSky® Secured Visa® Credit Card is designed specifically for those looking to establish or enhance their credit history. It stands out by offering a hassle-free application process, with no credit check required, making it a zero-risk option for applicants.
A notable feature of this card is its effectiveness in improving credit scores; a significant majority of cardholders witness a substantial credit score increase after just three timely payments. Additionally, the card provides an opportunity for users to extend their credit line after six months, without the need for an additional deposit.
What makes the OpenSky® card particularly user-friendly is the ability to check your FICO score monthly through a mobile app, ensuring you can closely monitor your credit building progress. The card’s activities are reported to all three major credit bureaus – Experian, Equifax, and TransUnion, which aids significantly in developing a well-rounded credit history. It also offers modern conveniences such as compatibility with major mobile wallets like Apple Pay, Samsung Pay, and Google Pay, making transactions seamless and straightforward.
Starting with a manageable $200 refundable security deposit, which establishes your credit line, the OpenSky® card is both accessible and practical. The application process is quick and user-centric, taking less than five minutes and optimized for mobile devices. Adding to the convenience, the card allows you to choose your payment due date, providing much-needed flexibility in financial planning.
Moreover, the option to fund the security deposit over 60 days with partial payments further eases the financial burden for new cardholders. With over 1.2 million individuals already using OpenSky® to build their credit, it stands as a testament to the card’s effectiveness and popularity.
Pros
- No credit check required for application, reducing the risk for applicants
- Potential for credit line increase without extra deposit after 6 months
- Regular reporting to three major credit bureaus enhances credit building
- User-friendly features like mobile wallet integration and flexible payment dates.
Cons
- Requires a $200 refundable security deposit to initiate use
- The full benefits of credit score improvement are subject to making timely payments.
FIT™ Platinum Mastercard®
The FIT™ Platinum Mastercard® is specifically designed to cater to individuals with less-than-perfect credit scores. It offers a starting credit limit of $400, which can effectively double to $800 upon making the first six monthly payments on time.
The FIT™ Platinum Mastercard® is a practical option for those working to improve their credit. One of the key attractions of this card is the initial $400 credit limit, which has the potential to increase to $800, provided the cardholder makes the first six monthly minimum payments punctually. This feature is particularly beneficial for those looking to expand their credit capacity while building a positive credit history.
This card is accessible to a wide range of credit types, making it an inclusive option for many. It ensures monthly reporting to the three major credit bureaus, which is essential for anyone aiming to improve their credit score. The application process for the FIT™ Platinum Mastercard® is both fast and straightforward, offering results in seconds, which adds to its appeal for those seeking immediate financial tools.
In terms of usability, the card is accepted at numerous locations where Mastercard® is recognized, providing extensive usability. Additionally, cardholders have the advantage of accessing their Vantage 3.0 score from Experian, a feature available when signing up for e-statements. However, it’s important to note that owning a checking account is a prerequisite for acquiring this card.
Pros
- Doubles the credit limit from $400 to $800 with timely payments for the first six months
- Welcomes all credit types, making it highly accessible
- Reports to the three major credit bureaus, aiding in credit improvement
- Quick and simple application process
- Widespread acceptance at locations accepting Mastercard®
- Provides access to Vantage 3.0 score from Experian.
Cons
- Requires a checking account for eligibility
- The credit limit increase is contingent on timely payments
- Initial credit limit may be low for some users.
It’s important to consider these pros and cons in relation to your specific financial needs and credit situation before applying for the FIT™ Platinum Mastercard®.
Destiny® MasterCard® Credit
The Destiny Credit Card is an unsecured card designed for individuals with poor credit histories, including those with prior bankruptcies. It reports your payment activity to all major credit bureaus, helping you rebuild your credit. The card offers a variable annual fee based on your credit profile and provides Mastercard ID Theft Protection.
The Destiny credit card may seem like a gamble with your financial future, offering credit-building opportunities but at a significantly higher cost compared to other credit cards tailored for individuals with poor credit (typically those with FICO scores of 629 or below).
While the terms of the Destiny credit card can vary depending on the version you’re offered, it’s crucial to note that annual fees can soar as high as $175, accompanied by steep annual percentage rates (APRs) that may reach up to 35.9% at the time of this writing.
These figures may seem exorbitant, especially when considering that the card provides limited perks to offset these substantial expenses.
Pros
- No need for a security deposit
- Access to a credit limit as high as $700
- Open to individuals with poor or fair credit.
Cons
- High APR
- High fees
- No rewards.
The OpenSky® Plus Secured Visa® Credit Card
The OpenSky Secured Credit Card is designed as a reliable solution for those aiming to build or rebuild their credit. It stands out with its no annual fee feature and does not require a credit check for application, offering instant approval decisions.
This card is particularly beneficial for individuals looking to enhance their credit score, with a significant proportion of cardholders (two-thirds) experiencing a credit score improvement of over 48 points after making three on-time payments. The OpenSky Secured Credit Card also provides an opportunity to be considered for an unsecured credit line increase after six months without requiring an additional deposit.
One of the key advantages of this card is the ability to monitor credit progress through free access to your FICO Credit Score. It ensures monthly reporting to all three major credit bureaus, which is crucial for establishing and building a credit history. Additionally, the card is compatible with major mobile wallets, including Apple Pay, Samsung Pay, and Google Pay, enhancing its convenience for everyday purchases.
To secure the credit line, a refundable security deposit is required, which can be as low as $300. The application process is streamlined and user-friendly, allowing applicants to complete it in less than five minutes using their mobile device.
The card also offers the flexibility of choosing a payment due date that fits individual schedules and permits partial payments towards the security deposit over a 60-day period. With over 1.2 million cardholders already using the OpenSky Secured Credit Card to improve their credit, it demonstrates its effectiveness and popularity.
Pros
- No annual fee and no credit check required for application
- High potential for credit score improvement
- Chance for a credit line increase without additional deposits
- Free access to FICO Credit Score for monitoring credit progress
- Reports to all three major credit bureaus
- Convenient for mobile wallet use
- Flexible payment due dates and partial payment options for security deposit.
Cons
- Requires a refundable security deposit to secure the credit line
- The credit line increase and credit score improvement are dependent on timely payments
- Initial credit limit based on the security deposit amount, which might be limiting for some users.
PenFed Platinum Rewards VISA Signature® Card
The PenFed Platinum Rewards VISA Signature® Card is a standout option for those looking to maximize rewards on their everyday spending, particularly in the categories of gas and groceries. With no annual fee and a variable APR of 17.99%, it offers a compelling value proposition.
The card’s tiered rewards system, providing up to 5X points on gas and electric vehicle charging, 3X points on grocery and dining, including at major retailers like Target and Walmart, and 1X points on all other purchases, makes it an attractive choice for a wide range of consumers. An introductory bonus of 15,000 points after $1,500 in spending within the first three months, alongside a 0% APR on balance transfers for the first 12 months (with a 3% fee per transfer), adds to its allure. W
hile the card does require membership in the Pentagon Federal Credit Union, this is open to the general public and can be a minor inconvenience relative to the benefits offered. The card’s limitations, such as the redemption process for travel points, including fees and restrictions, and the specific valuation and expiry of points, may detract from its appeal for some users. However, for those who can navigate these limitations, the PenFed Platinum Rewards VISA Signature® Card presents a robust option for earning rewards on everyday purchases without incurring an annual fee.
Pros
- Eliminates annual cost concerns with a $0 fee
- Rewards daily spending generously, especially on fuel and groceries
- Introductory offers enhance early value
- Allows earning unlimited rewards points.
Cons
- Requires joining the PenFed Credit Union
- Imposes booking fees and restrictions on travel rewards
- Points have lower value and cannot be transferred to other programs.
Indigo® Platinum MasterCard®
When deciding whether the Indigo® Platinum MasterCard® is right for you, consider your current financial needs and habits, as well as your credit score and history. If you need to build credit or are looking for an option to help you manage expenses, this guaranteed unsecured credit card approval for bad credit may be worth considering. However, the high annual fee and regular APR should also be factored in, as well as the lack of certain features like balance transfers and a higher credit limit. Ultimately, the choice is yours, but be sure to weigh the pros and cons carefully before making a decision.
Indigo® MasterCard® is a fantastic choice when you need something with low limits for shopping or other similar purposes. In addition, it is guaranteed approval unsecured credit cards for bad credit and, as such, does not require a deposit to use. That makes it widely available and a common choice for many, even with a bad score.
Indigo® Platinum® does not dig deep into your financial history. You can quickly prequalify for the bad credit credit cards unsecured guaranteed approval and get a $0 annual fee if you qualify or up to $90 if you don’t. The credit limit is set anywhere from a credit limit of 300 1,000 dollars. What you will get as a limit strongly depends on your qualifications.
Finally, we can say that the Indigo is impressive but not perfect. It can quickly give you the money you need, but the APR rate is high – about 25%, and you get no additional rewards from using Indigo® MasterCard®.
Pros
- Ideal for those with less-than-perfect credit, as Indigo considers applicants with a range of credit scores
- Offers an opportunity to build credit through responsible use
- Rewards program available, which allows you to earn points for purchases and redeem them for travel, merchandise, and more
- Simple application process that takes only minutes
- No security deposit required.
Cons
- High annual fee of up to $99, depending on creditworthiness
- Regular APR is relatively high, ranging from 24.9% - 29.9%
- Lower credit limit compared to other cards, which may not work for those with larger expenses or purchases
- No balance transfer or cash advance offer
- Rewards program carries a $25 annual fee, which may negate any potential benefits for some users.
Credit One Bank® Unsecured Visa®
Overall, the Credit One Bank Unsecured Visa is a suitable option for those with bad or fair credit scores who are looking to establish or improve their credit. Its cashback rewards program and credit score monitoring features make it stand out from other bad credit credit cards guaranteed approval no deposit, despite its high annual fee and interest rate. However, it’s important to note that responsible use is necessary to avoid high fees and interest charges. Apply now to enjoy the benefits of the Credit One Bank Unsecured Visa.
Credit One Bank® Unsecured Visa® is another option for those wishing to rebuild their score or simply need a card with low limits.
Wonder why this may be the best option for you? Well, there are many benefits (including travel benefits) like:
- Low limit, ranging from a minimum of $300.
- No minimal deposit – it is unsecured credit card for bad credit guaranteed approval, after all.
- Periodic reviews that improve your score.
- One percent cashback when paying with it for gas stations, groceries, and bills.
The downside of Credit One Bank® Unsecured Visa® is the high annual fee of $75 for the first year and $99 afterward. However, excluding that and the high regular APR of about 26%, everything else is perfect for rebuilding your score.
Pros
- No security deposit required
- Cashback rewards program
- Credit score monitoring
- Automatic credit line increase reviews
- Easy online account management.
Cons
- High annual fee - it has an annual fee starting at $0-$99
- High interest rate, which starts at 18.24% - 25.24% variable, depending on your creditworthiness
- Fewer rewards - although there is a cashback rewards program, it is limited compared to other credit cards.
First Progress Platinum Prestige Mastercard® Secured Credit Card
The First Progress Platinum Prestige Mastercard is another secured credit card from First Progress. Like other secured cards, it is designed to help individuals establish or rebuild credit. This card has an annual fee of $49 and a regular APR of 9.99% variable. It does not offer a welcome $1000 credit card bonus. The 1000 credit card is suitable for those seeking to improve their credit history but should be used responsibly to avoid accumulating debt.
The card is designed to help individuals with bad credit improve their credit scores. By using the card responsibly and making timely payments, you can demonstrate creditworthiness and rebuild your credit history.
Pros
- Helps individuals with bad credit to improve their credit score
- Reports to all three major credit bureaus for credit history building
- Low variable APR for a secured credit card.
Cons
- Requires a security deposit as collateral
- Annual fee may apply
- Some users have reported slow processing times for cancellations and refunds.
Reflex® Platinum Mastercard®
The Reflex credit card is designed to assist individuals with poor credit in their journey to improve their creditworthiness. Its standout feature lies in its commitment to reporting your monthly balance and payment history to all three major credit bureaus.
This essential benefit empowers cardholders to build and strengthen their credit profile over time. Choose the Reflex Credit Card to pave the way for a brighter financial future.
With the Reflex Credit Card, you can elevate your credit journey to new heights. Enjoy an initial credit limit ranging from $300 to $1,000, which can double up to $2,000 by simply making your first 6 monthly minimum payments on time. What’s more, you can check if you’re Pre-Qualified with no impact on your credit score, and all credit types are welcome to apply.
As a cardholder, you’ll benefit from free access to your Vantage 3.0 score from Experian when you sign up for e-statements. The Reflex Credit Card reports your monthly activity to the three major credit bureaus, helping you enhance your credit profile.
Pros
- Eligible with limited or poor credit history
- Reports to all three major credit bureaus.
Cons
- High annual fee
- High APR.
Merrick Bank Double Your Line® Mastercard®
The Merrick Bank Double Your Line® Secured Credit Card requires a refundable security deposit ranging from $200 to $3,000, which sets your credit limit. After seven months of on-time payments, the bank may double your credit limit without an additional deposit, aiding in credit building. However, it lacks rewards and offers only limited benefits. The first-year annual fee is $36, billed at $3 monthly after that.
Benefits include zero liability protection, free monthly access to your FICO credit score, online bill payment, and standard Visa perks like ATM access (with a 4% cash advance fee, Min: $10) and emergency card replacement. Merrick Bank reports your activity to major credit bureaus: Equifax, TransUnion, and Experian.
Key Details:
- Annual fee: $36 first year, $3 per month thereafter
- No rewards or welcome offer
- Minimum deposit: $200, maximum: $3,000
- Credit limit doubling after 7 months of on-time payments
- Regular APR: 22.70% Variable
- Foreign transaction fee: 2%
Pros
- Increased Credit Limit
- No Maintenance Fees
- Fast Application Process
- Flexible Card Design.
Cons
- High Regular APR
- You need to have a fair credit score.
Discover it® Student Cash Back
Discover offers the Unlimited Cashback Match, where they double all the cash back you earn in your first year with no spending limits. You can turn $50 into $100 or $100 into $200. When activated, enjoy 5% cash back on rotating categories like Amazon, groceries, restaurants, and gas stations, along with 1% cash back on all other purchases. No credit score is needed to apply. No annual fee makes it suitable for credit-building, especially for students. Additionally, you get a 0% intro APR on purchases for 6 months, followed by a variable APR of 18.24% – 27.24%.
Some of the main features of the Discover it® Student Cash Back card include the cash back rewards program, no annual fee, good grades reward, and free FICO credit score. The card also has a regular APR ranging from 12.99% – 21.99% variable, depending on your creditworthiness, and a penalty APR of 29.99% variable. Additionally, the card’s rotating categories can be both a pro and con depending on your spending habits.
If you’re interested in applying for the Discover it® Student Cash Back card, know that you’ll need good to excellent credit to be approved. However, if you do get approved, this card can be a powerful tool to help you earn cash back rewards while also building your credit history.
Pros
- Cash back rewards: With this card, students can earn 5% cash back on rotating categories (up to $1,500 per quarter) and 1% cash back on all other purchases
- No annual fee: There is no annual fee for the Discover it® Student Cash Back
- Bonus for good grades: Discover rewards students for good grades with a $20 statement credit every school year with a GPA of 3.0 or higher
- Credit Score tracking: The card provides free access to FICO® Credit Score Monitoring, allowing students to keep track of their credit score and improve it over time
- No foreign transaction fees: Students can use the Discover it® Student Cash Back card abroad without incurring any foreign transaction fees.
Cons
- Limited acceptance: Discover is not as widely accepted as other major credit card companies, limiting the places where students can use the card
- Rotating categories: The 5% cash back categories change each quarter, which may not always align with students' spending habits
- High APR: The regular APR for the Discover it® Student Cash Back is variable from 12.99% - 21.99%, depending on students' creditworthiness
- Need good credit score: To qualify for the card, students need to have a good credit score (at least 670 or higher).
Bank Americard® Secured Credit Card
We encourage you to evaluate the Pros and Cons of the Bank Americard® Secured Credit Card carefully and compare it against other options. For individuals looking to build credit, this card can be a great option, but be aware of the high interest rates and security deposit required. If this card seems like the right choice for you, apply today and take the first step towards strengthening your financial future.
The BankAmericard® Secured Credit Card is designed to assist in establishing, strengthening, or rebuilding credit. To open the account, a minimum security deposit of $200 (maximum of $5,000) is required, and your credit limit is determined by your deposit, income, and ability to pay.
Card Details:
- Introductory APR: None
- Standard APR: 26.24% variable
- Annual Fee: $0
- Balance Transfer Fee: 3% of each transaction (minimum $0)
Pros
- Good for building credit: designed for those with limited or poor credit history, and it can help you improve your credit score over time
- Low security deposit: The minimum security deposit for this card is only $300, which is lower than many other secured credit cards on the market
- No annual fee: Unlike some other credit cards, the Bank Americard® Secured Credit Card does not charge an annual fee, which can save you money over time
- Rewards Program: This credit card offers a rewards program that allows you to earn cashback on your purchases, which can be a great way to save money
- Large credit limit available: Depending on your creditworthiness and the amount of your security deposit, you may be able to qualify for a sizeable credit limit.
Cons
- High interest rates: The regular APR for this credit card can be significantly higher than other credit cards, which can make it expensive if you carry a balance
- Security deposit required: In order to open this card, you will need to provide a security deposit, which may not be feasible for everyone
- Limited credit-flexibility: You cannot upgrade to an unsecured credit card with Bank of America until your account has been open for at least a year.
Discover It® Reward Credit Card
Discover It® Reward Credit Card offers generous cashback rewards, no annual fee, an introductory APR, and a cash back match. However, users should be aware of the limited redemption options, required activation for the rotating categories, potentially high regular APR, and required good credit score. If these features align with your needs, consider applying for the Discover It® Reward Credit Card today and start earning cashback rewards on your purchases.
The Discover it® Credit Card offers an appealing cash-back reward – an automatic dollar-for-dollar match of all the cash back earned in the first year.
Card Features and Rates
- 0% introductory APR for 15 months on purchases and balance transfers made by December 10, 2023.
- After the introductory period, the APR varies from 17.24% to 28.24% based on your creditworthiness.
- Cash advances carry a fixed APR of 29.99%.
There are no penalty APRs associated with this card. To avoid interest charges on purchases, pay your entire balance by the due date each month.
Transaction and Penalty Fees
- Transaction fees include a 3% introductory balance transfer fee.
- Post-intro balance transfers incur a 5% fee.
- Cash advances have a fee of either $10 or 5% of the advance amount, whichever is greater.
- Late and returned payments may result in fees of up to $41.
Pros
- Generous cashback rewards: 5% cash back on rotating categories, up to $1,500 in purchases per quarter, and 1% cash back on all other purchases
- Does not charge an annual fee, reducing the overall cost of ownership
- The card offers an introductory 0% APR on purchases and balance transfers for the first 14 months
- At the end of the first year of card ownership, discover will match the cashback rewards earned by the cardholder, doubling the savings.
Cons
- The 5% cashback categories must be activated each quarter
- After the introductory period, the regular APR can be relatively high, ranging from 11.99% to 22.99% depending on creditworthiness
- To be eligible for the Discover It® Reward Credit Card, users must have a good credit score of at least 670.
Capital One Platinum Secured Credit Card
Experience financial flexibility like never before with the Capital One Platinum Secured card. This card is your gateway to a world of credit-building opportunities without the burden of annual or hidden fees. Within seconds, you can determine your eligibility, providing you with quick access to credit-building benefits.
Start your credit journey by placing a refundable security deposit as low as $49, and in return, receive an initial credit line of $200. Responsible card usage, such as timely payments, can even lead to the potential return of your security deposit as a statement credit.
Within a mere six months, you could be automatically considered for a higher credit limit, eliminating the need for an additional deposit. Benefit from the added security of $0 Fraud Liability, ensuring you won’t be held responsible for unauthorized charges.
Stay in control of your financial health with CreditWise from Capital One, offering free credit score monitoring for all cardholders. Access your account 24/7 through online banking or the Capital One mobile app, empowering you to manage your finances seamlessly from your desktop or smartphone. Elevate your credit journey with the Capital One Platinum Secured card today.
Pros
- No annual fee
- Accessible for those with limited/bad credit
- No charges for foreign transactions
- Reports to all three major credit bureaus.
Cons
- High APR
- No rewards
- Requires minimum deposit.
Capital One QuicksilverOne Cash Rewards Credit Card
The Capital One QuicksilverOne Cash Rewards Credit Card offers cashback rewards on all purchases, credit score monitoring, no foreign transaction fees, and an opportunity to increase the credit limit. Cardholders can also use their card with compatible mobile payment options.
The QuicksilverOne card from Capital One offers a steady 1.5% cash back on all purchases without any limits. However, it comes with a high annual percentage rate (APR) of 30.49% for both purchases and cash advances, which can vary with the market based on the Prime Rate.
Fees Associated with the Card:
- Annual Fee: $39 per year.
- Balance Transfer Fee: 3% for balance transfers at promotional APR rates (no fee for Transfer APR).
- Cash Advance Fee: Either $3 or 3% of the transaction amount, whichever is higher.
- Late Payment Fee: Up to $40 for late payments.
To avoid interest charges on new purchases, you must pay your previous balance in full by the due date each month, with a minimum grace period of 25 days. Interest on cash advances and transfers starts accruing from the transaction date.
Pros
- Cardholders earn 1.5% cashback on every purchase they make, with no limit on how much they can earn
- Cardholders receive credit score monitoring and can increase their credit limit after making five on-time payments
- Does not charge foreign transaction fees, making it an ideal option for people who travel internationally.
Cons
- Annual Fee: One of the card's main drawbacks is its annual fee of $39
- Has a high regular APR of 26.99% variable, making it a less attractive option for people who carry a balance
- The card requires a fair credit score, which can be a barrier for some people who are looking to qualify.
Surge MasterCard® Credit Card
Surge MasterCard® Credit Card may be a good option for individuals who are trying to establish or rebuild their credit score. The rewards program can be an added benefit, but potential cardholders should be mindful of the higher fees and interest rates associated with the credit card 1000 limit. We encourage you to review and compare other bad credit unsecured credit cards guaranteed approval options before making a decision.
The Surge Mastercard provides an initial credit limit of $300 to $1,000, usable wherever the Mastercard is accepted. Timely payments and staying under yourn$1 000 credit card limit no depositcan boost your credit score, and your initial limit doubles after six on-time minimum payments.
Enjoy security with Mastercard Zero Liability Protection and Continental Finance reports to all major credit bureaus (TransUnion, Experian, Equifax) to aid in credit building.
Activate your Surge Mastercard, enroll in e-statements, and access a free monthly credit score to track the impact of on-time payments, making it a valuable tool for credit improvement.
Pros
- Rewards program: Offers a rewards program that allows you to earn points for every purchase you make with the card
- Credit building: For those who want to build or improve their credit score
- No security deposit: Unlike some secured credit cards, there is no need for a security deposit
- Online account management: Cardholders have access to their account online.
Cons
- Higher fees: This card has a higher annual fee compared to other similar credit cards
- High-interest rates: The regular APR is higher than what you see with some other credit cards
- Low credit limit: The $1000 credit card limit no deposit for this card may be lower than some other credit cards
- The rewards options with Surge MasterCard® Credit Card are relatively limited compared to other rewards cards.
Citi®Secured MasterCard®
Citi® Secured MasterCard® is a great option for people who are trying to establish or rebuild their credit. With its easy approval process, low minimum deposit, and credit score monitoring, it’s an accessible and helpful tool for improving your credit score. Just be aware of the high regular APR and late payment fee, and don’t expect to earn any rewards or cash back. If you’re ready to take the next step in improving your credit score, apply for the Citi® Secured MasterCard® today.
The Citi® Secured Mastercard® is tailored for individuals new to credit or aiming to improve their credit history. To obtain this credit card with 1000 limit, you must meet credit qualification criteria, including assessing your income and debt. Upon approval, you’ll need to provide a security deposit ranging from $200 to $2,500, which becomes your credit limit.
Key card details include:
- 27.74% variable APR for purchases and balance transfers,
- 29.99% variable APR for cash advances,
- potential penalty APR of up to 29.99% for late or returned payments.
There’s no annual fee, but foreign purchases incur a 3% fee, and cash advances and balance transfers carry respective fees of $10 or 5% of the transaction amount.
Pros
- Easy approval process: Even if you have a low credit score or no credit history, you can still be approved
- Low minimum deposit: Only requires a minimum deposit of $200
- Worldwide acceptance: is accepted at millions of locations around the world
- Credit score monitoring: The Citi® Secured MasterCard® comes with free FICO® credit score monitoring
- No annual fee: Unlike many other secured credit cards, the Citi® Secured MasterCard® has no annual fee.
Cons
- High regular APR: The Citi® Secured MasterCard® has a regular APR of 22.49% (variable), which is higher than many other bad credit credit cards guaranteed approval
- Late payment fee: If you don't make your minimum payment on time, you'll be charged a late payment fee of up to $39
- No rewards program: Doesn't offer any rewards or cash back programs.
Milestone® Gold MasterCard®
Milestone® Gold MasterCard® is a viable option for those with a less than desirable credit score and are looking for a guaranteed credit card approval with a rewards program. While the regular APR is on the higher side, the annual fee is competitively priced, and no security deposit is required to open the account. It’s important to consider all factors and determine if the Milestone® Gold MasterCard® is the right credit card for you. Apply Now and take the first steps to financial freedom!
The Milestone Mastercard is an unsecured credit card designed for individuals looking to establish or rebuild their credit. It reports your account history to all major credit bureaus, helping you build a consistent payment record.
The card has a fixed APR of 24.9% and an annual fee ranging from $35 to $99. Unfortunately, it doesn’t offer any rewards program. The foreign transaction fee is just 1%.
To qualify for the Milestone Mastercard, you must:
- be at least 18 years old,
- have a valid social security number, a physical US address, and a US IP address
- not have had a previous Milestone Mastercard account charged off due to delinquency.
- meet additional credit criteria, including income and debt review and identity verification.
Additionally, cardholders receive Mastercard Benefits at no extra cost, including ID Theft Protection and Zero Liability protection for unauthorized transactions. For more details, refer to the Mastercard Guide to Benefits. Your new card typically arrives within 14 business days of approval.
Pros
- Easy Approval: Designed to cater to individuals with a low credit score
- Rewards Program: Offers a rewards program that allows you to earn points for every dollar spent
- No Security Deposit Required.
Cons
- High Regular APR: Can be as high as 24.9%, which can add up quickly if you carry a balance
- Limited Credit Limit: Often lower than other credit cards, which can make it difficult to use for larger purchases
- Foreign Transaction Fees: They charge a 1% foreign transaction fee.
Summary of Best Guaranteed Approval Credit Cards with $1000 Limits for Bad Credit
| Application Length | Interest Rate | Reports Monthly | |
| OpenSky® Secured Visa® Credit Card | 24-48 hours | 29.99% | Yes |
| Indigo® Platinum MasterCard® | 30 seconds | 24.99 29.99 variable | Yes |
| Credit One Bank® Unsecured Visa® (for Rebuilding credit | Instant | 28.24% | Yes |
| First Progress Secured Credit Card | Three weeks | 14.49% | Yes |
| Reflex® Platinum Mastercard® | Instant | 29.99% | Yes |
| Merrick Bank Double Your Line® Mastercard® | 60 seconds | 23.95% – 29.95% | Yes |
| Discover it® Student Cash Back | 60 seconds | 17.49% – 26.49% | Yes |
| Bank Americard® Secured Credit Card | 30 days | 16.24% – 26.24% | Yes |
| Destiny® MasterCard® Credit | 7 to 10 business days | 24.90% | Yes |
| Discover It® Reward Credit Card | Same day | 16.49% – 27.49% | Yes |
| Capital One Platinum Credit Card | Instant | 29.74% | Yes |
| Capital One QuicksilverOne Cash Rewards Credit Card | Instant | 29.74% | Yes |
| Surge MasterCard® Credit Card | Instant | 29.99% | Yes |
| Citi® Secured MasterCard® | Instant | 26.99% | Yes |
| Milestone® Gold MasterCard® | 14 days | 24.90% | Yes |
