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Guaranteed Credit Card Offer
28 Apr 2019

What Is A Guaranteed Credit Card Offer?

Let’s say you’ve been searching the Web and stumbled across the term guaranteed credit card approval. What does that mean? Is it too good to be true? What about if you have bad credit, no credit, or multiple credit cards already?

Is there some kind of “catch?” What are the requirements under which approval is truly guaranteed to all applicants? If these questions interest you, read on to find out the answers!

Guaranteed Credit Card Approval: What It Means

A guaranteed credit card approval isn’t a “myth,” although it needs to be more precisely defined. In reality, what this advertising slogan really means is “nearly guaranteed approval.” It means that approval is guaranteed if you meet certain requirements but that those requirements are very, very low and basic.

Much like guaranteed approval personal loans, you still need to have certain requirements like a bank account, cell phone, be older than 18, etc.

Typically, the major point that credit card companies are trying to communicate when they say “approval guaranteed” is that bad credit scores are not an issue. Given that many other cards won’t accept you if you have poor credit, that’s a pretty huge difference.

What Guaranteed Approval Does Not Mean

Remember that there is no such thing as a literally guaranteed approval credit card – no matter what. After all, you have to be an adult, a US citizen or resident, have a social security number, and have an active bank account with many “ordinary” credit card offers. Everyone requires something, at least.

Also, realize that guaranteed-approval cards will have different approval criteria depending on the card issuing company. And the details of the credit card offer terms will differ greatly too from issuer to issuer. That’s why it pays to do your homework and not just assume “guaranteed approval” is an absolute term or that all companies have the same approval rules.

Must It Be A Secured Card To Be “Guaranteed?”

Many guaranteed approval cards require a security deposit making them secured credit cards. In this case, your security money will equal your spending limit, or it may be that your credit limit is a multiple of your deposit. Many times, a secured card is virtually guaranteed because the card company is taking very little risk.

However, not all guaranteed cards are secured cards. Unsecured options exist in this category too. They may be fewer in number, and requirements might be slightly higher – but they are still low enough to call it a “guaranteed card.”

One plus of secured cards is that they almost always report to one, two, or all three major credit bureaus on a monthly basis. That is less likely true of an unsecured card. If you don’t go over your credit limit, are never late on your payments, and make frequent payments, this is a formula for rapid credit score improvement with an unsecured card.

How To Locate The Best Guaranteed-Approval Card Offers

We can virtually guarantee that a guaranteed credit card offer to your liking exists. But it won’t do you any good if it remains in the realm of the great “somewhere out there.” We at Bonsai Finance bring you into contact with all of the very best guaranteed cards that you qualify for.

We make it quick, simple, and painless to scrutinize hundreds of competing offers in only minutes’ time. That would be an impossibility under most circumstances, but our state of the art search engines make it a glorious reality.

However, if you use any of our free online tools to search for a credit card offer and still struggle to know which one is best, you can talk to our online staff for further assistance. We can also help you find a payday loan online, no credit check loan, or other personal loan product that you might be looking for. Here are some other articles you might find helpful:

Here are 7 of the best credit cards for low income earners
Looking for store credit cards for bad credit? Here are your best options
Can you get cash off credit cards? Here are 7 things to know
The pros and cons of the Citi Simplicity Credit Card