On the contrary, the easiest credit card to obtain for a given consumer varies according to the credit profile and personal needs of each. For example, the easiest credit card to get for a student will be very different from the easiest credit card to get when you have bad credit. In this article, we’ll look at the cards that are potentially the easiest to get for those with fair credit and bad credit, as well as secured cards, student cards, business cards, and branded cards.
EASY TO GET CARDS FOR MEDIUM CREDIT
Whether you’re building your credit for the first time or rebuilding it after a few mistakes, most consumers will have fair credit at some point in their lives. While the options aren’t as limited with fair credit as they would be if your credit score were lower, these aren’t the chip cards you’d get with better credit either.
In general, the easiest cards to get with fair credit are the simple starter cards; ones that don’t have an annual fee can be great for getting credit, but if you’re able to afford an annual fee, you can also find a card with purchase rewards. Just make sure the rewards are worth the fees before applying.
CARDS EASY TO OBTAIN IN CASE OF BAD CREDIT
Although the exact scores that qualify as bad vary depending on the specific scoring model, in general, a credit score below 600 will put you in the bad credit score category. At this point, most major issuers will be hesitant to offer you unsecured credit, which will significantly limit your choices.
That said, there are always options, especially if you’re willing to accept a few restrictions. For example, if you want an unsecured card, you can choose a closed circuit store card or an expensive risky credit card. If you’re willing to put up a security deposit, you can find some great secured credit card options.
EASY-TO-OBTAIN SECURE CARDS
Secured credit cards are by far the easiest to get, especially if you have a poor or limited credit history. This is because secured credit cards require a cash deposit to serve as collateral for the account, meaning the credit card issuer doesn’t have to risk their own money to approve your line of credit.
With less risk, issuers are more willing to be flexible with credit scores and income, often offering better rates, lower fees, and higher credit limits than other cards for the same credit category. Plus, your credit card security deposit is fully refundable when you close your account with a $0 balance.
EASY-TO-OBTAIN STUDENT CARDS
Although it can be difficult to get a credit card without a credit history, students tend to have an advantage in this area; many issuers offer student cards specifically designed to help young people establish and build their credit profile.
These cards come with flexible credit requirements that take into account the limited credit history typical of a college student. This allows students to get a card with lower fees and better benefits than they could get without having a credit history.
EASY TO GET BUSINESS CREDIT CARDS
If consumers with poor or limited credit have a hard time getting a credit card, small businesses that are in the same credit boat will likely have a much harder time getting a credit card. Most business credit cards not only take into account your company’s credit profile, but also your personal credit profile. If neither of them is up to par, it will be difficult to get a card.
This can be especially true when your business is just getting started or doesn’t have the revenue to qualify for most business lines of credit. Unsecured credit cards will be rare in this case, but secured cards may be the answer.
