Easiest Credit Card To Get
Welcome to the Easiest Credit Card To Get website. Many people consider a secured credit card or a department store credit card to be easy to get credit cards. Let's take a closer look.
Secured Credit Card
A secured credit card is the easiest credit card to get approved for under most circumstances and convenient to use. These are usually Visa or MasterCard cards, and so will be widely accepted. Approval is pretty much guaranteed as long as one is able to put down a minimum security deposit of $200 - $300. The card issuer is holding on to your security deposit, so there is very little risk to them of being burdened with payment defaults. As a result, approval is easy to get. For anyone seeking a credit card, bad credit history is a non-issue.
Secured credit cards, as the name implies, requires that a person put down a security deposit that is equal to the credit limit of the card. As a cardholder, you will still have to make monthly payments before deadlines to remain in good standing, even though the card company has your security deposit. Outstanding balances not cleared by the deadlines and grace periods are subject to regular interest charges, just like with any normal credit card.
A secured credit card is best suited for anyone with a FICO score below 550, for anyone who is recovering from a bankruptcy or who have not established any type of credit history. A key advantage of these cards is that most of them will report activities on this card to the 3 major credit bureaus like Experian, TransUnion and Equifax. As a cardholder, you can build up your credit history through use of this card. For anyone seeking to increase or rebuild his or her credit score, this is in most cases easiest credit card to get to get approved for.
If you think you have trouble getting a secured credit card, consider raising your credit score using Scott Hilton's method.
Unsecured Credit Card For Bad Credit
If your credit standing is better than rock bottom, another option opens up: an unsecured credit card for bad credit. Most regular credit cards require average to good credit scores in the range of 650 and above. However, issuers of bad credit unsecured credit cards are aware that there is a segment of the population with below average scores that still need a credit card. In return for higher fees like application fees and annual fees, and very high interest rates, bad credit credit card issuers are able to grant approvals despite lower credit scores.
They are best suited for anyone who may have lower than average credit scores in the range of 550 - 650. For anyone looking for an unsecured card, a bad or low credit credit card is one of the easiest credit cards to get approved for. It works best for individuals who have demonstrated good credit a couple years post-bankruptcy, or someone who has been conscientiously building up his or her credit history for a while starting from nothing. Being able to qualify for these cards is usually considered a step up from being limited to secured credit cards that will tie applicants down with a deposit.
Unsecured bad credit credit cards behave exactly like regular Visa or MasterCard cards. You can use them everywhere and activities from the card will be reported to the major consumer credit bureaus. This will help cardholders build up their credit score over time and qualify for credit cards with better and better terms (eg. higher balances and lower interest rates).
Department Store Credit Card
A department store credit card is one easiest cards to qualify for. These are offered at stores around the country and often touted as a great way to save 10% - 20% on your purchase at the time you get the card. You may have seen offerings from stores like JC Penney, Macys, Sears, Amazon, Nordstrom, Saks Fifth Ave or Target.
The requirements for getting these department store cards are lax. As long as you have a source of minimum income of $14,000 or above a year, you have a good shot at getting approved. This card is well-suited for anyone who has a bad credit score or no credit history, and want a credit card to build up their credit profile.
A number of financial experts getting a department store credit as a great way to build up their credit score and history from a low point. It's the easiest credit card to get when one has no or bad credit and cannot put down a deposit for a secured card. The activities on this card is reported to the credit bureaus, just like with any regular credit card.
One disadvantage of the card is that unlike Visa or MasterCard credit cards, it can only be used at the store where you got the card from. If you happen to shop often at the store, it could work out well, as you may even get extra benefits like coupons and other perks, even above and beyond the initial one-time purchase discount. If you want to make purchases at other stores, it could be a little inconvenient.
Student Credit Card
If you are a college student someone who has recently graduated from high school, a student credit card is probably the easiest credit card to get approved for. In the US, the minimum age for getting a credit card is 18. This also means a whole new group of customers entering the market for credit card companies to court. Many credit card companies have aggressive advertising campaigns aimed at people in this age group.
When it comes to getting a student credit card, card companies are well aware that students do not have much of a credit history established. They understand that when granting approvals, and have adjusted their criteria accordingly. The only downside is that credit limits may be low to start with. However, by building up your credit history with the use of these cards, you will be able to qualify for cards with higher limits over time.
If you are a bona fide college student, rather than going for a mainstream application and having your application lumped with the usual no or poor credit history category of applicants, definitely consider a student credit card offer. It's easy to apply and get approved for. These student credit card offers may be found through advertising around campus or online.
To sum things up, the easiest credit card to get approved for will vary from individual to individual. In general, a secured credit card is the safest bet for fast approvals even with bad credit. Under other circumstances, an unsecured credit card for bad credit, department store credit card and student credit card could be easy to get approvals for as well. Before applying for a card, consider carefully through the points raised above, and take a look at additional articles or websites for specific card offer details.
If you think you are unable to qualify for any credit card, or the deposit for a secured card is beyond your means, check out the advantages of a Prepaid Visa Card. We found one company that is currently offering a $15 deposit bonus (subject to change over time).