- Best Credit Cards
- Second Chance Credit Cards With No Security Deposit
10+ Second Chance Credit Cards With No Security Deposit
Need a second chance with credit cards? You can probably find one with these cards.

“If you’re still breathing, you have a second chance.” (Oprah Winfrey)
That’s a lovely saying and all, Oprah. But does that apply to the big credit card companies of the world?
What if you have a credit score under 500, or maybe you went bankrupt—is there such a thing as a 2nd chance credit card for you?
It turns out there is.
Now for your next question—
Can you get a credit card without a security deposit? (You know, without having to fork out hundreds of dollars before you can even use it?)
Again, the answer is yes—over ten, as a matter of fact (and we even omitted the mildly horrible ones).
Why Trust Us
Articles on LifeAndMyFinances are written in collaboration with our internal experts, backed by thorough research, scientific literature, and data from government websites and other reliable sources. They're also reviewed by experts in banking, finance, insurance, and others before publication and upon significant updates.
Learn more about our editorial process
Advertiser Disclosure
Pages on LifeAndMyFinances may contain affiliate links to products for which we receive a commission when a user makes a purchase. When creating content, we adhere to high editorial standards to make sure the information presented remains objective. Our partners don't dictate what we choose to write. We select each product independently.
Learn more about our terms of service
Second Chance Credit Cards With No Security Deposit or Checking Accounts
Find the best second chance credit cards below. Keep scrolling down for more detail on each of them:
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
Easy approval |
3/5 |
$75 first year |
None |
None |
||
400 credit score |
2.8/5 |
$50 first year |
None |
None |
||
500 credit score |
3/5 |
$35 first year |
None |
None |
||
500 credit score |
3/5 |
$75 first year |
1% |
None |
||
500 credit score |
3/5 |
$75 first year |
None |
None |
||
$500 limit for bad credit |
2.5/5 |
$75–$125 first year |
None |
None |
||
$500 limit for bad credit |
2.5/5 |
$75–$125 first year |
None |
None |
||
Retail |
3.7/5 |
$0 |
None |
None |
||
Retail |
3.7/5 |
$0 |
None |
None |
||
Rebuilding credit |
4.2/5 |
$39 |
1.5%–5% |
$200 |
||
Rebuilding credit |
3/5 |
$0 |
None |
None |
Easy approval credit cards with no deposit—Indigo® Mastercard®
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
Easy approval |
3/5 |
$75 first year |
None |
None |
Why we like it
We ranked Indigo® as the easiest credit card to get with no deposit because they not only accept applicants with poor or bad credit, they even advertise it on their website:
“You shouldn’t have to put your plans on the backburner just because you have a challenging credit history. With Indigo Mastercard you can build credit while you go where you want, when you want.”
It’s nearly a guaranteed approval.
Indigo is an unsecured card. They have an easy pre-qualification process (that won’t impact your credit), and they report to the three major credit bureaus.
Other details we like:
- The interest rate is reasonably low at 24.99%.
- A first-year fee of just $75.
- There’s no additional monthly maintenance fee.
- 1% foreign transaction fee.
Note that
- The annual fee increases to $99 after the first year.
- The maximum credit limit is low—just $300.
- Late payment, overdraft, and returned payment fees can be up to $40.
- There’s a 5% cash advance fee.
And, according to Indigo’s terms and conditions—
“To be prequalified and/or approved for an account, you must:
- Meet our credit qualification criteria, including a review of your income and your debt, and identity verification requirements.
- Not have an existing Indigo Mastercard Account.
- Not have had an Indigo Mastercard Account that charged off due to delinquency.”
Credit cards for bad or poor credit: no deposit
Credit cards for a 400 credit score with no deposit—PREMIER Bankcard® Grey Credit Card
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
400 credit score |
2.8/5 |
$50 first year |
None |
None |
Why we like it
The PREMIER Bankcard® Grey credit card specifically states, “Don’t let a low FICO score stop you from applying—we approve applications others may not.”
While it certainly isn’t the best second chance credit card on the market, they are one of the few unsecured options available for a credit score under 500.
Other positives:
- The application process takes just 60 seconds (basically instant approval), so you’ll know if you’re approved immediately.
- The first year annual fee is $50.
Note that
- There’s a one-time program fee of $95.
- After the first year, there’s a monthly fee in addition to the annual fee ($6.25/month or more, depending on your credit limit).
- The APR is 36%.
- The initial available credit is roughly 75% of your credit limit (meaning you can’t spend your entire credit limit).
- Penalty fees of up to $39.
Credit cards for a 500 credit score with no deposit—Milestone® Mastercard®, Credit One Bank® Platinum Visa® for Rebuilding Credit, and DestinyTM Mastercard®
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
500 credit score |
3/5 |
$35 first year |
None |
None |
Why we like it
If you’re looking for a second chance in the credit card world, the Milestone® Mastercard® is a decent option.
- The APR is 24.90%—one of the lowest rates for poor/bad credit applicants.
- The annual fee is between $35 and $75 in year one (depending on your credit rating)—then $99 a year after that.
- The foreign transaction fee is just 1%.
Note that
- The upper credit limit on this card is just $300.
- There may be an additional maintenance fee of $35 each year.
- The cash advance fee is 5%.
- Penalties on late payments, returned payments, or exceeding your limit is up to $40 per infraction.
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
500 credit score |
3/5 |
$75 first year |
1% |
None |
Why we like it
This card was created specifically for those looking to rebuild their bad credit. And it’s one of the few rewards cards in the subprime market.
- Earn 1% cash back on eligible purchases.
- Minimum credit limit of $300, but upwards of $2,500.
- No additional maintenance fees.
Note that
- The APR is above average at 28.24%.
- The first year annual fee is $75 but then moves up to $99 a year after that.
- The 8% cash advance fee is high.
- There’s a 3% foreign transaction fee.
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
500 credit score |
3/5 |
$75 first year |
None |
None |
Why we like it
The DestinyTM Mastercard® is an unsecured credit card that’s likely a good fit for people with bad to fair FICO scores.
They have a prequalification process that’s quick and easy and won’t impact your credit—and they report to the three major credit bureaus (Experian, TransUnion, and Equifax).
- Fairly low APR for bad credit—24.9%.
- 1% foreign transaction fee.
Note that
- The first year annual fee is $75 but goes up to $99 after that.
- Low credit limit of $300.
- 5% cash advance fee.
- Penalty fees up to $40.
Check out our full DestinyTM Mastercard® Review
$500 credit card for bad credit—Surge® Mastercard® and Reflex Platinum Mastercard
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
$500 limit for bad credit |
2.5/5 |
$75–$125 first year |
None |
None |
Why we like it
The Surge® Mastercard® is backed by Continental Finance, one of America’s leading marketers and servicers of credit cards for consumers with less-than-perfect credit.
The initial credit limit ranges from $300 to $1,000. Make your first six monthly minimum payments on time and get your credit limit doubled.
With the Surge card, you get:
- Mastercard’s zero liability protection.
- Reporting to all three major credit bureaus.
- A free monthly credit score (when you enroll in e-statements).
Note that
- The APR of 29.99% is pretty high.
- First-year annual fee of $75–$125, then between $99–$125 after that.
- The monthly maintenance fee is free for the first 12 months, but then could jump to $10 per month ($120 annually).
- 3% foreign transaction fee
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
$500 limit for bad credit |
2.5/5 |
$75–$125 first year |
None |
None |
Why we like it
The Reflex® Platinum Mastercard® is a near-carbon copy of the Surge card:
- The initial credit limit is between $300 and $1,000.
- Your credit limit can double when you make your first six payments on time.
- It comes with all the protections and benefits of a Mastercard.
And this card is even backed by the same company (Continental Finance).
Note that
- The APR of 29.99% is quite high.
- First year annual fee of $75–$125, then $99–$125 per year after that.
- The maintenance fee is free for the first year—but then may increase to $10 per month.
- No cash advances during the first 95 days an account is open.
Second chance retail credit cards—Buy On Trust and Unique Platinum
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
Retail |
3.7/5 |
$0 |
None |
None |
Why we like it
Buy On Trust is a lease-to-own electronics store of mainly Best Buy products. The credit limit on their card is up to $5,000.
For this card, they won’t be pulling your credit to see if you qualify. Instead, they’ll check your bank account for at least $1,000 worth of income from the same source over three months. (They’ll also make sure you don’t have any overdrafts or insufficient fund pulls on your account.)
If you pass their review, you’ll get yourself a credit card that reports to the three major credit bureaus.
Note that
Leasing electronics obviously isn’t advice you’d get from your financial advisor (as this is the most expensive way to buy anything)—but if you’re hard-pressed to build your credit and don’t want a secured credit card, this is a unique way to do it.
Speaking of unique—
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
Retail |
3.7/5 |
$0 |
None |
None |
Why we like it
Unique Platinum is an online merchandise credit card that can only be used at myuniqueoutlet.com—a seller of electronics, health and beauty, and home products.
The big plus here is that approval is easy (and instant since there are no credit, income, or employment checks).
Talk about second chance credit cards with guaranteed approval—this is it.
More positives:
- Your card comes with a $1,000 credit limit.
- You can build credit since this card reports to TransUnion.
- 0% APR.
Note that
- The online store isn’t terrible, and it’s not a scam—but it’s also not going to wow you.
- To get started, there’s a $10 application fee.
- There’s a steep membership fee of $21.94 a month.
Rebuilding credit cards with no deposit—Capital One Quicksilver and Capital One Platinum
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
Rebuilding credit |
4.2/5 |
$0 |
1.5%–5% |
$200 |
Why we like it
Capital One is a top name in credit cards.
While this card can be tougher to get (since it’s catered more toward those with average credit), it might be worth a shot considering all the positives:
- $0 annual fee.
- 1.5% cash back on every purchase, every day.
- 5% cash back on hotels and rental cars booked through Capital One Travel.
- One-time $200 cash bonus if you spend $500 within the first three months.
If you’re looking at credit cards for a 580 credit score with no deposit, try to get approved for this one. It’s a fantastic card for below-average credit.
Note that
- High APR of 29.24% for those with lower credit scores.
Credit card |
Category |
Rating |
Annual fee |
Rewards rate |
Intro offer |
Learn more |
---|---|---|---|---|---|---|
Rebuilding credit |
3/5 |
$0 |
None |
None |
Why we like it
If you’re looking for a Capital One second chance credit card, the Capital One Platinum Mastercard® is their version of that.
It has a $0 annual fee and no foreign transaction fees. Not too many frills in this card, but it’s a great brand with excellent protection.
Note that
- There are no rewards with this card.
- High APR of 29.74%.
Second Chance Unsecured Credit Cards With No Deposit (But With a Checking Account)
When I started researching 2nd chance credit cards for this article, I posed the following question to all my fellow personal finance nerds out there:
What unsecured credit cards would you recommend to those with bad credit?
Shanté Nicole, CEO of Financial Common Sense, gave me the straight answer—
“None. [Unsecured credit cards for bad credit and no deposit] all come with fees, and if someone is going to pay fees, they may as well apply those funds to a secured card that will eventually graduate to unsecured.”
She’s right.
While I won’t recommend a list of secured credit cards in a post specifically about unsecured credit cards—
Let’s at least look at some impressive unsecured cards that require an extra element—a link to your bank account.
Tomo
Why we like it
The Tomo credit card is unlike any other card we’ve seen.
- 0% APR.
- No annual fee.
- 1% cash back on everything.
- There’s no credit check needed.
- You can use it anywhere Mastercard is accepted.
- And it reports to all three credit bureaus.
Have bad credit? It doesn’t matter. You can still qualify for this card.
Note that
To get a Tomo credit card, you’ll need to first link to your bank accounts so they can give you an appropriate credit limit based on your savings.
Another deviation from the typical credit card—you’ll need to pay off your balance in full every month (or every week if you sign up for the auto-pay feature). If you don’t, your account will be frozen until your balance is paid.
Chime
Why we like it
Technically speaking, Chime isn’t a secured credit card—but the concept is similar.
Instead of putting money into an account as collateral (like secured cards operate), the Chime card has you put money into a bank account (and you technically draw money from that account when you swipe your credit card).
The beautiful thing about this is it helps your credit score—each transaction gets reported to the three major credit bureaus.
- 0% APR.
- No annual fee.
- No credit check to qualify.
Note that
- Your credit limit is equal to the amount you have in your account. (Want a higher limit? You’ll need to add funds into your Chime checking account.)
- You need to deposit a minimum of $200 to use the Chime credit card.
How to Get Approved For a 2nd Chance Credit Card
So, what’s the best way to get approved for a 2nd chance credit card?
Nearly every card we’ve selected above has a pre-qualify option. It won’t hurt your credit, and you’ll likely know immediately if you qualify for the card.
If you’re not accepted for an unsecured card because of low credit or a major mark on your history, you may need to start with either the Tomo card or Chime card we highlighted above.
Benefits of Credit Cards for Bad Credit
The above list of 10+ second chance credit cards with no security deposits all share one benefit—
They report your spending to at least one major credit bureau (and most report to all three bureaus).
The benefit of credit cards for bad credit is that they’re made to help you build back your credit—so you can qualify for a house purchase, pay less in insurance, and rent a car with ease when you need it.
Keep your spending light, pay your bills on time—and you’ll start to see your credit score creep up again.
How Long Does It Take to Rebuild Credit?
Have a 400 credit score and want to build it back to a 700 credit score?
This will take you nearly two years to accomplish.
Want to go from a 500 credit score to 750? You could do this in just under a year and a half.
See the table below for our full list of time estimates for building back your credit to a certain level:
Initial credit score |
Average time to reach 700 credit score |
Average time to reach 750 credit score |
Average time to reach 800 credit score |
Average time to reach 850 credit score |
New to credit |
6–8 months |
8 months to 1 year |
1–1.5 years |
1.5+ years |
300 |
2 years |
2–3 years |
3–4 years |
4+ years |
350 |
1.8–2 years |
2–2.5 years |
2.5–3.5 years |
3.5+ years |
400 |
1.5–1.8 years |
1.8–2 years |
2–3 years |
3+ years |
450 |
1.2–1.5 years |
1.5–1.8 years |
1.8–2 years |
2+ years |
500 |
1–1.3 years |
1.3–1.5 years |
1.5–1.8 years |
1.8+ years |
550 |
1 year |
1–1.3 years |
1.3–1.5 years |
1.5+ years |
600 |
8 months |
1 year |
1–1.3 years |
1.3+ years |
650 |
6–8 months |
8 months to 1 year |
1–1.2 years |
1.2+ years |
700 |
– |
3–6 months |
6–9 months |
9 months to 1.2 years |
750 |
– |
– |
3–6 months |
6–9 months |
While the table above is super helpful to most, keep in mind there are other factors at play that could impact your timeframe. If you’ve had a bankruptcy or a foreclosure, your timetable could be longer.
(Want more information about building credit? Check out our recent post, “How Long Does It Take to Build Your Credit?”)
Next Steps After You Rebuild Your Credit
You’ve got a bad credit score now.
Let’s say you’re on track to build it back up over the next couple of years.
That’s exciting, but—
Here’s how you can make sure you keep it up and avoid tumbling back down into credit score hell again.
To keep your credit score high:
- Keep your credit spending low. Always be sure you can afford something before you buy it on credit.
- Never co-sign for anyone. If they don’t pay, it kills your credit. And no matter how powerful you think you are, you can’t control anyone other than yourself.
- Pay down or pay off your debts using the debt snowball spreadsheet. (FYI, I’ve been completely debt free for over seven years now. I use my credit cards and pay them in full every month. My credit score is still 800.)
- Expect the unexpected. Emergencies will happen. Medical bills, job loss, home repairs—these can all cost you $10,000 in an instant. Instead of becoming demoralized and plummeting further into debt, think ahead. Stash money away for these instances. Do not depend on a credit card to cover them.
Key Takeaways
Your credit score might not be the best right now—but your financial life could look vastly different just two years from now.
- Find your favorite card from our list of low credit score credit cards with no deposit (above).
- Go through the pre-approval process.
- Get your new card and curb your initial enthusiasm. Spend lightly.
- Then be sure to pay off your new credit card in full each month.
- At the same time, it likely makes sense to pay down your other debts to improve your FICO score.
FAQ
Can you get an unsecured card after bankruptcy?
Yes. Indigo specifically states in their eligibility criteria that you can still apply if you’ve gone through a bankruptcy.
Also, very few of the other top credit cards for bad and poor credit state anything about you not being eligible if you’ve had a recent bankruptcy.
Will Capital One give me a second chance?
The Fresh Start Visa Platinum card is issued by First South Financial. This unsecured card has a $250 limit and a fairly low APR at 24.25%.
What is the Fresh Start unsecured credit card?
Germany's labor force participation rate is 79.8% (the fifth-highest in the world).
Can I apply for a credit card I defaulted on?
Likely not. In fact, not only will you not get approved for a credit card you defaulted on, you probably won’t get approved for any cards from that same issuer.
Editorial team
Meet the team
Personal Finance Expert
Derek has a Bachelor's degree in Finance and a Master's in Business. As a finance manager in the corporate world, he regularly identified and solved problems at the C-suite level. Today, Derek isn't interested in helping big companies. Instead, he's helping individuals win financially—one email, one article, one person at a time.

Editor
Editor, copywriter, and multilingual translator with expertise in producing tailored content for global online brands. When not editing articles for LifeAndMyFinances.com, he enjoys rummaging through paper dictionaries, walking in nature, and making travel plans.

Finance Writer
Lauren is a published content writer who is passionate about helping and informing others through her content. In the last 5 years, Lauren has written about a range of subjects, including business, technology and finance.

Feb, 27
How Long Does It Take To Get A Credit Card?

Feb, 08
Want discounted prices, luxury travel, and free trips? This list of cards can get you there.

Feb, 08
Credit cards used to offer 1% cash back. The new standard is becoming 2% or higher.