Credit cards with no deposit can help you access credit and improve your score when you don’t have the cash for a security deposit.

If you have a low score and don’t want a secured card, your best bet is to get a second-chance card. These cards are designed for people with poor or no credit history to help you improve your score.

Let’s explore the best credit cards with no security deposit for poor scores and see if there’s one for you.

Easy approval unsecured cards

Milestone® Mastercard®

Accepted worldwide Mobile account access anywhere, anytime Worry free Fraud Protection
Annual Fee
$35-$99
Intro APR
N/A
Regular APR
24.90%-35.90%
Credit Score Range
510-699
Monthly Fee
Up to $12.50 ($0 the first year)

Milestone® Mastercard® is a reasonable option for consumers looking to boost their scores and who don’t want to tie up money in a refundable security deposit. The card is easy to qualify for and comes with all the benefits of a Mastercard®.

  • APR: 24.90% – 35.90%
  • Annual Fee: $35-$99
  • Program Fee: Up to $25 (one-time fee)
  • Monthly Maintenance Fee: $0 the first year, up to $12.50 per month after that.
  • Late Payment Fee: Up to $41
  • Overlimit Fee: Up to $40
  • Foreign Transaction Fee: 1%
  • Optimal score range of 510-699 (Poor-Good)
  • Prior bankruptcy accepted
  • Initial credit limit up to $700
  • Account history reported to Experian, Equifax, TransUnion
  • Simple application process with a quick decision
  • Prequalify before you apply
  • Accepted nationwide, wherever Mastercard® is accepted

“Got approved immediately with a $700 credit limit. Not sure if it’s because I was a past customer or not but I have nothing to complain about. Got approved with credit score in the lower 600’s. The annual fee is only $35 a year. There’s no rewards but it didn’t matter to me as I was happy for a bank to give me another chance to rebuild my credit. If you just pay your bill on time everytime and pay your statement balance you’ll have no problems!!”

Credit Karma Review

The Milestone® Mastercard® is an accessible card. It’s a place to start for anyone looking to improve their score. It does not require a security deposit, is easy to qualify for, and reports to Experian, TransUnion, and Equifax.

Destiny Mastercard®

Don’t have perfect credit? No problem All the benefits of a Mastercard No security deposit required
Annual Fee
$59-$99
Intro APR
N/A
Regular APR
24.90%
Credit Score Range
510-699
Monthly Fee
$10.40-$12.50

Destiny Mastercard® is a straightforward card that provides consumers with the opportunity to boost their scores, gives them the advantage of a $700 limit, and is easy to be approved for.

  • APR: 24.90% (Variable)
  • Annual Fee: $59-$99
  • Monthly Maintenance Fee: $0 the first year, up to $12.50 per month after that.
  • Late Payment Fee: Up to $40
  • Overlimit Fee: Up to $40
  • Cash Advance: $0 the first year, 5% after the first year
  • Foreign Transaction Fee: 1%
  • Optimal score range of 510-699 (Poor-Good)
  • All scores considered, even with a prior bankruptcy
  • Credit limit of $700
  • Reports payments to Equifax, Experian, and TransUnion
  • Fast and easy application process
  • Prequalify in 60 seconds or less
  • Use your card anywhere Mastercard® is accepted, in-store, in-app, online

“I have had no issues with this card. It has been great to me and a awesome start to building my credit up. I even have gotten a credit card milestone offer in just 6 months. They are offering me to go up to 700$ limit compared to the initial 300$. Thanks for being awesome.”

Ashley, Experian Review

The Destiny Mastercard is an easy approval card even if you’ve had a past bankruptcy. You get a $700 limit, reporting to all three bureaus, and do not have to put down a security deposit.

Prequalify before your apply without hurting your score.

Fortiva® Mastercard®

Up to 3% cash back rewards No security deposit Prequalify instantly
Annual Fee
up to $49
Intro APR
N/A
Regular APR
22.74%-36%
Credit Score Range
300-850
Monthly Fee
$5-$12.50 ($0 the first year)

Fortiva® Mastercard® stands out from the crowd as an option for beginners or those with low scores. It offers a higher limit, cash back rewards of up to 3%, and accepts all scores. The application process is easy and you can prequalify before you apply.

  • APR: 22.74%-36% (Variable)
  • Annual Fee: $0-$49 ($49-$175 the first year)
  • Monthly Maintenance Fee: $0 the first year, $5-$12.50 per month after that
  • Additional Card Fee: $25 (one time, if applicable)
  • Authorized User Free: $19
  • Late or Returned Payment Fee: Up to $41
  • Cash Advance Fee: Either $5 or 5%, whichever is greater
  • Foreign Transaction Fee: 3% of each transaction amount in U.S. dollars
  • Optimal score range of 300-850 (Poor-Excellent)
  • Initial credit limit of up to $350-$1,000
  • Goes up to $2,000
  • Cash back rewards up to 3%
  • Reports payments to Experian, Equifax, and TransUnion
  • Get a Free Vantage Score 3.0 every month
  • Fast and easy application process; results in seconds
  • Use your card anywhere Mastercard® is accepted

“Excellent Card, one of the best I’ve ever had. And the App is also phenomenal… Payments are processed immediately and clear.”

David C, Trustpilot Review

The Fortiva Mastercard lets you prequalify for an initial limit of up to $1,000 – without hurting your score. Limits increase up to $2,000 and you get cash back rewards up to 3% on select purchases.

You don’t need good score to apply for this rewards card but you do need to pay your balances in full each month to avoid interest charges.

Aspire Mastercard®

Earn cash back rewards on all purchases Instant transaction alerts Free credit score
Annual Fee
up to $49
Intro APR
N/A
Regular APR
22.74%-36%
Credit Score Range
630-850
Monthly Fee
$5-$12.50 ($0 the first year)

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.

  • APR: 22.74%-36% (Variable)
  • Annual Fee: $0-$49 ($49-$175 the first year)
  • Monthly Maintenance Fee: $0 the first year, $5-$12.50 per month after that
  • Additional Card Fee: $25 (one time, if applicable)
  • Authorized User: $19
  • Late or Returned Payment Fee: Up to $41
  • Cash Advance Fee: Either $5 or 5%, whichever is greater
  • Foreign Transaction Fee: 3% of each transaction amount in U.S. dollars
  • Optimal score range of 630-850 (Fair-Excellent)
  • Initial credit limit of up to $350-$1,000
  • Cash back rewards up to 3%
  • Free Vantage Score 3.0 from TransUnion
  • Get transaction alerts
  • Reports payments to Equifax, Experian, and TransUnion
  • Fast and easy application process; results in seconds
  • Use your card anywhere Mastercard® is accepted

“I can’t say enough about their customer service! I had the most positive experience I’ve probably ever had with customer service on the phone. I had fraudulent activity and they took care of it right away but the same exact rep I originally spoke with is the same person that handled my situation all the way until the end! She even called me one day to make sure that a debit was legit. The other thing I love is that you can make your payments with a debit card and the funds are there before the end of the day. I think they’re doing a great job! Definitely recommend.”

Credit Karma Review

Aspire Mastercard® is available to applicants with fair to excellent scores. Get lucrative cash back rewards and a high limit with this card.

Aspire lets you see your score for free once a month. It does come with hefty fees and a high APR that can be avoided with on time payments.

Surge® Platinum Mastercard®

Initial credit limit of $300-$1,000 Reporting to 3 major credit bureaus Monthly credit score
Annual Fee
$75-$125
Intro APR
N/A
Regular APR
29.99 %
Credit Score Range
300-669
Monthly Fee
$10 ($0 the first year)

Surge® Platinum Mastercard® is a strong option for people starting to build or rebuild their scores. It’s easy to get, provides a high initial limit, and the chance to double it after six months of responsible use.

  • APR: 29.99% (Variable)
  • Annual Fee: $75-$125, after first year $99-$125 annually
  • Monthly Maintenance Fee: $0 the first year, Up to $10 per month after that
  • Additional Card Fee: $30 (one time, if applicable)
  • Late or Returned Payment Fee: Up to $41
  • Cash Advance Fee: Either $10 or 3%, whichever is greater
  • Foreign Transaction Fee: 3%
  • Optimal score range of 300-669 (Poor-Fair)
  • Initial credit limit of $300-$1,000
  • Reports payments to Experian, Equifax, and TransUnion
  • Fast and easy application process; results in seconds
  • See if you’re prequalified without impacting your score

Today my credit was approved for an increase n I’m so excited.. U guys r awesome n this here means the world to me n thank u guys once again 🙏

Carmen J Perea SR, Trustpilot Review

The Surge Mastercard offers instant approval and the possibility of a $1,000 limit! Pay your bills on time for six months and it’ll double to $2,000.

This card lets you see your Vantage Score 3.0 for free, waives the monthly maintenance fee the first year, and reports monthly to Experian, Equifax, and TransUnion.

FIT® Platinum Mastercard®

Fast and easy application process Accepted nationwide $400 credit limit doubles to $800
Annual Fee
$99
Intro APR
N/A
Regular APR
29.99 %
Credit Score Range
300-640
Monthly Fee
$6.25 ($0 the first year)

FIT® Platinum Mastercard® stands out as an option for beginners or those with low scores as it offers something unique in its class; a chance to double your initial limit to $800 in only six months.

  • APR: 29.99% (Variable)
  • Annual Fee: $99
  • Processing Fee: $89 (one-time fee)
  • Monthly Maintenance Fee: $0 the first year, $6.25 per month after that
  • Additional Card Fee: $30 (one time, if applicable)
  • Late or Returned Payment Fee: Up to $41
  • Cash Advance Fee: Either $10 or 3%, whichever is greater
  • Foreign Transaction Fee: 3%
  • Optimal score range of 300-640 (Poor-Fair)
  • Initial credit line of up to $400
  • Reports payments to Equifax, Experian, and TransUnion
  • Fast and easy application process; results in seconds
  • Use your card anywhere Mastercard® is accepted

“For first time credit builders, please get this card. It’s annual rate is reasonable compared to others and they were able to start me off when my score was below 600. Just keep up to date with subscriptions and your spending limit.”

Jas T., Supermoney Review

Get an instant decision with Fit Mastercard®. Use it anywhere Mastercard is accepted worldwide. Pay your bills on time for six months straight and Fit will reward you by doubling your limit.

The APR is high, but not as high as other cards in this category.

Reflex® Platinum Mastercard®

Initial credit limit of $300-$1,000 Reports to 3 major credit bureaus FREE credit score
Annual Fee
$75-$125
Intro APR
N/A
Regular APR
29.99 %
Credit Score Range
300-719
Monthly Fee
$10 ($0 the first year)

Reflex® Platinum Mastercard® is a rare traditional card for consumers with low scores. It is easy to qualify for, has a high initial limit, and is an excellent place to start rebuilding your score.

  • APR: 29.99% (Variable)
  • Annual Fee: $75-$125
  • Monthly Maintenance Fee: $0 the first year, Up to $10 per month after that
  • Additional Card Fee: $30 (one time, if applicable)
  • Late or Returned Payment Fee: Up to $41
  • Cash Advance Fee: Either $10 or 3%, whichever is greater
  • Foreign Transaction Fee: 3%
  • Optimal score range of 300-719 (Poor-Good)
  • Initial credit line of up to $300-$1,000
  • Monthly reporting to Experian, Equifax, and TransUnion
  • Fast and easy application process; results in seconds
  • Prequalify with no impact on your score
  • Use Reflex® anywhere Mastercard® is accepted

I had no credit history due to being afraid of credit cards. This card helped me get started on the path to getting a better credit score. The customer service was friendly and answered my newbie questions about credit cards which helped me make the leap to getting my first credit card.”

Holly W., Supermoney Review

The Reflex Mastercard reports Experian, Equifax, and TransUnion, gives you a free Vantage Score 3.0 each month, and doubles your limit after only six months of on time payments.

Reflex is easy to apply for and has fast approval but does come with high fees and a high APR.

Types of unsecured credit cards

A traditional credit card is unsecured, meaning it does not require a security deposit. There are a variety of types of cards including cash back, travel rewards, and balance transfer cards. We’ll focus on types of unsecured cards for poor scores.

Store Credit Cards

Store cards are offered by retailers and are easier to qualify for than regular ones. These cards often come with special financing deals, discounts, or rewards. Some are even no credit check credit cards with no deposit. They typically have modest spending limits and can only be used at the issuing store.

Credit Union Credit Cards

Credit union’s issue a range of cards that often come with lower interest rates and fees compared to those from traditional banks. To apply, you need to be a member of the credit union.

Student Credit Cards

Student cards are tailored for college students looking to build their scores. They often have lower limits and low fees. Many offer rewards on purchases or points for good grades.

There are unsecured cards designed specifically for improving your score. These cards usually have lenient requirements but higher interest rates and fees. Take a look at the offers above, there’s likely an unsecured credit card with no deposit that fits your needs.

What credit limit and interest rate can you expect?

When considering credit cards for low credit with no deposit, it’s important to set realistic expectations regarding limits and interest rates. Limits on these cards tend to be relatively low starting between $200 and $1,000. Interest rates tend to be on the higher side. Expect to find APRs (Annual Percentage Rates) starting at 24.99%, which is well above national average.

The low limits and high APRs reflect the increased risk that card issuers take on by accepting applicants with low scores without a deposit.

Can you get an unsecured credit card after bankruptcy?

Obtaining a card after bankruptcy be challenging, but it’s not impossible. Secured cards are easier to be approved for but a number of card issuers will consider applicants who have a past bankruptcy filing on their report.

Your options will be limited and you will likely face higher fees and a higher APR. With responsible use, you can improve your score and get more favorable terms in the future.

How to use my card to rebuild credit?

Rebuilding your score takes time but it’s not that difficult. What you have to do is consistently show responsible financial behavior. That means paying bills on time and not spending too much. Credit cards for rebuilding credit with no deposit can help you if you follow these rules:

  • Make payments on time
  • Reduce your debt
  • Keep your balance below 30%
  • Don’t close old accounts
  • Apply sparingly
  • Have both loans and cards

It can feel like a lot when you’re just starting out. Let’s go over each of the points in detail.

Pay Bills on Time

The single most important factor in calculating your score is payment history. Always pay your bills on time. Even one late payment can set you back.

Pay Down Debt

Work towards reducing your overall debt. Aim to pay more than the minimum due each month. Lowering your debt not only improves your credit utilization ratio but also saves you money on interest.

Maintain a Low Balance

Strive to keep your balances low. A good rule of thumb is to use less than 30% of your available credit. This demonstrates to lenders that you can handle money responsibly.

Keep Old Accounts Open

The length of your credit history impacts your score. Keep old accounts open and active to improve your average account age.

Don’t Apply Too Often

Each application results in a hard inquiry, causing your score to dip temporarily. Apply only as needed to avoid unnecessary hits to your score.

Have a Mix of Credit

A diverse mix of accounts, including loans and cards, can positively affect your score. This variety shows that you can handle different types of loans responsibly. It’s a small factor though, so don’t go applying for anything you don’t need.

You can improve your score just by paying monthly bills!

Check out StellarFi to learn how.

How to make the most of second-chance cards with no security deposit?

Take advantage of the opportunity and use unsecured cards to practice good financial habits and build up your score as soon as possible. First, establish a positive payment history.

  • Set up automatic payments each month
  • Request alerts when your bill is due
  • Only use your card for small manageable purchases you can pay off each month
  • Consider paying your entire balance to avoid interest charges

Whatever you do, avoid maxing out your card each month. Credit utilization – how much of your limit you use – is an important factor. If you find yourself using more than 30% of your limit, make multiple payments throughout the month to keep your utilization low. 

Credit cards for damaged credit with no deposit offer a chance to improve your score. Take advantage of them and get your score up so you can graduate to cards with more rewards.

More financial tips on MoneyFor.

Can a secured credit card become unsecured?

A secured card is a good way to boost your score, but you are limited by your security deposit. Luckily, a lot of secured cards do let you graduate to an unsecured card, but not all. It depends on the card issuer’s policies and your financial habits.

To upgrade to a traditional card you much show you can responsibly pay back loans, maintain a positive relationship with the issuer, and improve your score. If you feel that you’re ready then inquire about an upgrade.

FAQ

1. What Is the Easiest Card to Get Approved For?

The easiest cards to be approved for are store cards and secured cards. If you have your heart set on an unsecured card there are easy to get credit cards with no deposit. Look for cards with lenient requirements and less stringent approval criteria. While they may come with higher interest rates and lower limits, they can help boost your score without an upfront deposit.

2. What Credit Score Do I Need For Approval?

There are companies who offer unsecured cards to individuals with scores as low as 500 or less. It’s important to note that these cards often come with lower limits, higher annual fees, and higher APRs. Your chances of approval increase when your score is 600 or higher. If you have fair or poor credit and are looking for a card with no deposit required, don’t despair, it is possible to find one.

Bottom Line

If you need an unsecured card and you have a bad score, you are not out of luck. There are plenty of card issuers who have designed cards just for you. Concentrate on feasible choices, prequalify before you apply, and always read terms before you sign.

Once you have your card, use it responsibly and build your score so you can move up to a card offering higher rewards and lower fees.

For those ready to take the first step, applying for a credit card for bad credit with no deposit could be the gateway to a brighter financial future.

Visit MoneyFor to find the best cards for low scores.