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Key takeaways
- Find guaranteed approval credit cards with $1000 limits for bad credit that don’t require a security deposit.
- Responsible use of unsecured cards, including timely payments and low utilization, can lead to improved scores and access to better financial products.
- While cards for low scores come with additional costs, the opportunity to access a high limit and improve your rating makes them a valuable tool.
$1000 limit credit cards give you more wiggle room to spend before you’ve exceeded your credit line. Who doesn’t want a little extra spending power, right?
Nothing in life is 100% guaranteed, but there are plenty of cards offering impressive approval odds – even if you have a low score. Your best bet is of course a secured card.
If your heart is set on an unsecured credit card, your options will be more limited but it’s not impossible. We’ve found 6 guaranteed approval credit cards with $1,000 limits for bad credit that could be the ticket to a higher spending limit.
Jump to:
- How Can I Get a Credit Card With No Money Down?
- Guaranteed Approval Secured Credit Cards that Require You to Open Banking Account and Set Up Direct Deposit
- Can I Get a Rewards Card with Bad Credit?
- What Is the Minimum Credit Score Required For an Unsecured Card?
- What is The Easiest Credit Card to Get Approved For?
- Can I Get a High-limit Credit Card with Fair to Bad Credit?
- How to Use Guaranteed Credit Cards to Improve Your Credit Score?
- Bottom Line
How Can I Get a Credit Card With No Money Down?
It is entirely possible to get a card with no money down. There are plenty of unsecured options for all scores.
We’ve found some great options for guaranteed approval unsecured credit cards with $1,000 limits for bad credit. Your starting limit may be lower, but every card we listed offers easy approval and limits of $1,000 or more.
Fortiva® Mastercard® Credit Card
Fortiva® Mastercard® stands out from the crowd as an option for beginners or those with fair credit scores. It offers a high initial line of $1,000, cash back rewards of up to 3%, and the option to prequalify before you apply.
Fortiva® Mastercard is a rewards option with a high limit of $1,000. The more you earn and the higher your score, the more likely you’ll receive a $1,000 limit (or close to it.)
The issuer periodically reviews your account to determine if you qualify for a larger limit. Remain in good standing with the bank, pay your bills on time, and report any salary increases. This will improve your odds of getting a limit increase.
Aspire® Cash Back Reward Card
Aspire Mastercard® is a good option for people starting out. It’s easy to be approved for, gives you a higher limit, and you can earn cash back rewards on all purchases.
The Aspire® Rewards Cash Back Rewards Card lets you earn rewards on eligible purchases including gas, groceries, and utilities. It is one of the best cash back cards in this category.
You will also get free access to your score and transaction alerts. Prequalify before you apply without hurting your score.
Surge® Platinum Mastercard®
Surge® Platinum Mastercard® is a strong option for people with low scores. It’s easy to get, provides a higher line of up to $1,000, and the chance to double it after six months of responsible use.
The Surge® Platinum Mastercard offers a maximum initial limit of $1,000. You can get a line of up to $2,000 by simply paying your bills on time for the first six months.
This no-frills card offers a very high limit but it also comes with high fees and a high APR – like most unsecured subprime cards.
Reflex® Platinum Mastercard®
Reflex® Platinum Mastercard® is a rare card for consumers with low scores. It is easy to qualify for, has a total limit of up to $2,000, and is an excellent place to start rebuilding your score.
The Reflex Platinum Mastercard® considers applicants just starting out. Get an initial line of up to $1,000 and a chance to double it after the first six months of responsible use.
Reflex can help you improve your score, however, it comes at a cost. You must have a checking account to qualify and it charges a high annual fee and APR.
Credit limits are set by the credit card company depending on your score, income and other factors. there is no such thing as an Experian initial credit limit. Experian is a credit bureau, not a card issuer.
While these cards have low minimum score requirements and large limits, they tend to also have higher interest rates and additional fees. The extra costs are how issuers mitigate the risk of lending to people with poor scores. Use the guaranteed approval credit cards with $1,000 limits for bad credit, no deposit as a stepping stone to better cards.
Guaranteed Approval Secured Credit Cards that Require You to Open Banking Account and Set Up Direct Deposit
There are secured cards that don’t have a minimum score requirement nor do they ask you for a security deposit. Sounds too good to be true, right? The catch is they do require you to open a bank account.
Current and Chime are our favorites. Not only because of the lack of security deposit, but they also sport features to help you pay on time and make sure you don’t overspend. They are basically credit cards with training wheels.
Current Build Card
Current’s Build Card provides a unique path for people with low scores to raise them. It doesn’t require a security deposit or hard inquiry. But you must have a Current Spend Account to apply.
The Current Build Card is an easy and accessible secured visa that provides built-in safety features to help improve your score. You don’t have to put down a security deposit. Just add any amount of money to your Current account and start using you card.
Current does not charge interest, lets you pay your balance with your reserved funds, and has an AutoPay feature. It’s near impossible to accumulate debt with this card.
Additionally, you can earn up to 7x points at over 14,000 participating merchants that can be redeemed for cash back. It’s rare to find a secured card that offers such rewards.
Chime Secured Credit Builder Visa®
The Chime Secured Credit Builder Visa® Credit Card is a rare find. You don’t have to undergo a credit check to apply, there’s no minimum security deposit requirement, nor is there an annual fee or interest charges. If these perks appeal to you, it’s definitely worth a look.
The Chime Secured Credit Builder Visa® Credit Card has exceptionally low fees, no interest, and no minimum security deposit. Simply move money into your Chime account and that’s the money you can spend.
Since there’s no preset limit, Chime doesn’t report utilization, so you can use your card as much as you like. Chime does reports your payment history to all three national bureaus and members see an increase of 30 points on average.
Can I Get a Rewards Card with Bad Credit?
Typically, rewards cards are marketed towards consumers with good to excellent scores. You can’t expect top rates or fancy rewards when you have a bad score. Most of the cards you’ll qualify for are all about giving you a chance to improve your score so you can move on to a card with more perks and better rates. Rewards in this category are a rare sight but not impossible to find.
Fortiva Mastercard and Aspire Cash Back Rewards Card both provide cash back rewards. You can get up to 3% on everyday purchases including gas, groceries, and utilities.
Find even more offers and credit card commentary on MoneyFor.
Be sure to read the fine print. There may be limits on how you redeem rewards – some only offer statement credit – or they may put a cap on how much you can earn.
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Almost every rewards card also comes with a higher-than-average interest rates. This is to help the issuer pay for those rewards. If you’re not careful, the higher interest rate can quickly eat up any cash back incentives you earned.
Look for rewards cards with reasonable fees and understand the rewards structure so that you will actually benefit.
What Is the Minimum Credit Score Required For an Unsecured Card?
An unsecured card is harder to qualify for than its secured counterpart. The exact minimum score required though depends on the card you’re looking at. Top-tier issuers want applicants with a good or excellent scores of 670-850. The higher your score, the lower your APR and the more benefits you’ll get.
If your score is fair – a FICO Score of 580-669 – you’ll find plenty of options. Most of the cards will be aimed at improving your score. A few will offer some perks and rewards, but they are harder to find.
550 is the lowest FICO Score you can have and still qualify for an unsecured card. Expect to find a high APR of 25% or more, additional fees, and meager initial limits.
For people with scores below 550 or no credit history at all, you’re best chance is to go for a secured card. Yes, you have to put down a refundable security deposit, but you’ll get all your money back when you close your credit card account, if it’s in good standing. This can actually be a better deal than an unsecured card with high fees.
For instance, say your unsecured card charges an annual fee of $75, a monthly maintenance fee of $12, and a one time processing fee of $25. You will have to pay $112 upfront and that’s money you won’t see again. On the other hand, you’ll get your $200+ security deposit back when you close your secured card in good standing. Some would argue that’s a much better deal.
Yet another way to get approved for a high limit is to apply with someone who has a good score. With them as your co-signer you have better odds at being approved for a card with a lower APR and more favorable terms.
If you can’t afford or don’t want a subprime or secured card, consider a prepaid reloadable card. These are similar to debit cards but you don’t have to have a bank account to own one. You make a cash deposit to the prepaid card account and then spend the money. Prepaid reloadable cards won’t help you improve your score but they usually don’t have any interest charges or late fees either.
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What is The Easiest Credit Card to Get Approved For?
The easiest cards to be approved for look at factors beyond your score. They will want to know about your income, employment, and financial background. Some will require you to put money down upfront.
If you want practically guaranteed approval take a look at:
Secured credit card
A secured card is the easiest one to be approved for. This is because you have to put down a refundable security deposit when you open an account. The security deposit serves as an assurance to the issuer in case you don’t pay your bill. Secured cards allow you to set your own limit based on your deposit and you can deposit $1,000 if you have the spare cash.
The problem with secured cards is your security deposit will be locked away for as long as you have the account. Not everyone can afford to put down hundreds to thousands of dollars to access a card.
Most secured cards do not check your score and some will even accept applications while you’re in bankruptcy proceedings. They rarely have high fees or exceptionally high APRs like subprime unsecured cards.
Just as with an unsecured card, the issuer will report your payment history every month. Reporting your payment history is the only way to increase your score. Be sure to choose a secured card that reports to all three major credit bureaus.
Unsecured credit cards
The majority of subprime unsecured cards start you off with a $300 limit. You can find some like the ones mentioned above that offer a limit of $1,000+. The catch is most come with high APRs and additional fees. While a subprime card is easy to be approved for, it will cost you more.
The biggest perk of subprime cards is that almost all report your payment and balance history every month to the three major credit bureaus. Pay on time, don’t max out your card, and your score should improve.
Become an authorized user
Ask a friend or family member with a good score if they can add you to their account as an authorized user. As an authorized user, you get access to their card.
Being an authorized user is another way to increase your score. You benefit from the primary user’s on time payments and low utilization. But remember that any late payments or maxing out of the card can negatively affect both your scores.
Can I Get a High-limit Credit Card with Fair to Bad Credit?
Yes, you can. Many companies issue easy-approval cards for bad credit designed to boost your score. Secured cards spring to mind but there are also unsecured options too if don’t want to put down a security deposit.
While a $1,000 limit may not be considered “high” in the traditional sense, it is impressive for anyone with a bad score. Most cards in the subprime category offer initial limits of only $300-$500.
Perks of having a card with a higher limit include:
If you start out with a lower limit, you can request an increase after a few months of responsible usage. If approved, your new limit will take effect immediately. Surge Platinum and Reflex Platinum both offer to double your limit after only six months of responsible use and Fortiva reviews your account periodically.
How to Use Guaranteed Credit Cards to Improve Your Credit Score?
Don’t get discouraged by a fair score. Instead, take steps to improve it.
The best thing you can do is make timely payments. Late payments stay on your credit report for up to seven years and can severely hurt your score. Set up autopay, and then you don’t have to worry.
Don’t fall into the minimum payment trap. If you only make minimum payments you’ll be charged interest on the remaining balance. Pay your balance in full each month. Not only will you save money but you’ll keep your utilization low.
Avoid maxing out your card. Don’t use more than 30% of your limit, reduce your existing debt, and you’re golden.
Follow these tips and you’ll gradually see your score rise. The higher your score, the better your odds of being approved for any card.
Bottom Line
There are several easy approval cards for low scores with high limits. You simply have to do some digging to find the right one for you. You may have to put down a security deposit but then again, you may be able to snag one that offers rewards.
Always read the fine print before you accept an offer. Make sure you understand the fee structure and interest rate. A lot of subprime cards come with higher APRs and additional fees.
The next step is to improve your score. The benefits of a high score cannot be overstated. Raising your score takes patience and consistency, but in the end, it will pay off. A higher score will get you an even higher limit, access to more favorable products, and peace of mind.
