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Unsecured credit card for bad credit
6 Sep 2017

Unsecured credit card for bad credit

Do you wonder if you could get unsecured credit cards for bad credit? Even with cards that are advertised as good for those with bad credit, the credit card companies still go through a vetting process for every customer. To boost your chances of getting one of these credit cards, you will need to keep the following in mind:

  • First Progress Platinum Select MasterCard® Secured Credit Card

    First Progress Platinum Select MasterCard® Secured Credit Card
    Issuer Synovus Bank
    • Receive Your Card More Quickly with New Expedited Processing Option.
    • No Credit History or Minimum Credit Score Required for Approval.
    • Quick and Complete Online Application.
    • Full-Feature Platinum MasterCard(R) Secured Credit Card.
    • Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted!
    • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History.
    • Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application.
    • Just Pay Off Your Balance and Receive Your Deposit Back at Any Time.
    • 24/7 Online Access to Your Account.
    • Nationwide Program though not yet available in NY, IA, AR, or WI.
    *See Card Terms. Show more
    Issuer Synovus Bank
    Regular APRAnnual FeeCredit LineCredit Recommended
    Regular APR14.74%
    Annual Fee$39
    Credit Line$2,000
    Credit RecommendedDamaged/Fair

You Must Give the Lender the Right Information

It doesn’t matter where you request an unsecured credit card for bad credit, you always have to give a credit card issuer certain information. This includes your full name, birthdate, and address. You also have to provide a Social Security number. If you do not provide these things, your request is usually automatically rejected.

You Must Provide Income Information When Requesting for an Unsecured Credit Card for Bad Credit

A credit card issuer always wants to know if its customer has the ability to pay their credit off. So, you must provide your annual income. Not only can you put your own income, but you can also put your partner’s income or other household income. Generally, the minimum amount of income is about $10,000 per year, but every issuer is different. You might make much more than that, but if you have too much other debt, you still might be denied.

You Must Provide Banking Information

Additionally, many issuers require that customers have a bank account. Not all do, but most do. Credit card issuers see this as proof of someone’s financial stability. They know that you are financially responsible enough to have a checking account. If you don’t have an account for some reason, you might consider looking at a credit union. These are usually easier accounts to get.

You Must Turn Over Your Credit History

The issuer giving an unsecured credit card for bad credit knows that your credit isn’t great, but they want to know how bad it is. A single bankruptcy might sound bad, but many times, as long as the rest of your credit report is relatively clear, an issuer has no problem giving you a credit card. If you, however, have liens, judgements, or other financial issues in addition to a bankruptcy, it’s more likely that they would not approve your request. If you fall into this category, you might want to take time to try to build up your credit with a secured credit card.

You Should Have a Clear History with the Credit Card Issuer

Finally, you should make sure to have a clear and clean history with the company you are requesting from. For instance, if you had a card with Capital One, but defaulted on your payments in the past or they put out a judgement against you, it’s probably best to not request from Capital One again.

If none of this works, or if you need money quickly, you can also consider a personal loan. We have online loans available that do not require credit checks at all, and you get the money very quickly.

  • Bonsai Finance

    Our take: Online marketplace that searches through lenders to find the best offer for your personal situation Show more
    Credit ScoreLoan Size/AmountLoan TermAPROrigination Fee
    All can apply$100 - $15,0001 - 604.99% - 1,386%Varies by lender
    Credit ScoreAll can apply
    Loan Size/Amount$100 - $15,000
    Loan Term1 - 60
    APR4.99% - 1,386%
    Origination FeeVaries by lender