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? These are the best cards for average credit or below.

Written by

Derek Sall

Written by

Derek Sall

Founder/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.

Learn more about our editorial process

Edited by

Kacper Kozicki

Edited by

Kacper Kozicki

Editor-in-Chief

Kacper is an editor, writer, and multilingual translator with expertise in producing tailored content for global online brands.

Learn more about our editorial process

Fact-checking

Lauren Bedford

Fact-checking

Lauren Bedford

Finance Writer

Lauren is a published content writer and journalist. In the last five years, she has written about a range of subjects, including business, technology, and finance.

Learn more about our editorial process

August, 02 2023

17 min

We reviewed dozens of the best second chance credit cards and graded them based on the annual fee, APR, intro bonus offer, and the cash back rate. Below are truly the best of the best second chance credit cards with no security deposit.

Why Trust Us

Advertiser Disclosure

Summary

Capital One QuicksilverOne: For rebuilding credit
Capital One Platinum card: For rebuilding credit
Indigo® Mastercard®: Best for easy approval
FIT Mastercard®: Best for 400 credit score
Milestone® Mastercard®: For 500 credit score
Credit One Bank® Platinum Visa® for Rebuilding Credit: For 500 credit score
Destiny Mastercard®–$700 Credit Limit: For 500 credit score
Surge® Mastercard®: For $500 limit for bad credit
Reflex® Platinum Mastercard®: For $500 limit for bad credit
Buy On Trust: Retail credit card
Unique Platinum: Retail credit card

Rebuilding credit

card_name

3.6

Annual Fee

annual_fees

Reward rate

1.5%–5%

Intro offer

bonus_miles

No intro offer

reg_apr,reg_apr_type

Credit needed: Fair (580–689)

141 people chose this

Learn more

QuicksilverOne Review

1.5% cash back on every purchase, every day. Earn 5% cash back on hotels and rental cars booked through the Capital One portal.

Details

Rates/APR

Regular APR	reg_apr,reg_apr_type
Intro APR	intro_apr_rate,intro_apr_duration
Balance transfer rate	balance_transfer_rate
Balance transfer intro APR	balance_transfer_intro_apr,balance_transfer_intro_duration
Cash advance APR	cash_advance_apr

Fees

Annual fees	annual_fees
Balance transfer fees	balance_transfer_fees
Cash advance fees	cash_advance_fee
Foreign transaction fees	foreign_transaction_fee
Late payment fees	late_payment_fee

Regular APR	reg_apr,reg_apr_type
Intro APR	intro_apr_rate,intro_apr_duration
Balance transfer rate	balance_transfer_rate
Balance transfer intro APR	balance_transfer_intro_apr,balance_transfer_intro_duration
Cash advance APR	cash_advance_apr

Annual fees	annual_fees
Balance transfer fees	balance_transfer_fees
Cash advance fees	cash_advance_fee
Foreign transaction fees	foreign_transaction_fee
Late payment fees	late_payment_fee

Why we like it

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.

Pros

1.5% cash back on every purchase, every day.
5% cash back on hotels and rental cars booked through Capital One Travel.
No foreign transaction fee.

Cons

High APR.
annual_fees

Rebuilding credit

card_name

3.5

Annual Fee

annual_fees

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

reg_apr,reg_apr_type

Credit needed: Fair (580–689)

107 people chose this

Learn more

Platinum Review

Details

Rates/APR

Regular APR	reg_apr,reg_apr_type
Intro APR	intro_apr_rate,intro_apr_duration
Balance transfer rate	0%
Balance transfer intro APR	balance_transfer_rate
Cash advance APR	cash_advance_apr

Fees

Annual fees	annual_fees
Balance transfer fees	balance_transfer_fees
Cash advance fees	cash_advance_fee
Foreign transaction fees	foreign_transaction_fee
Late payment fees	late_payment_fee

Regular APR	reg_apr,reg_apr_type
Intro APR	intro_apr_rate,intro_apr_duration
Balance transfer rate	0%
Balance transfer intro APR	balance_transfer_rate
Cash advance APR	cash_advance_apr

Annual fees	annual_fees
Balance transfer fees	balance_transfer_fees
Cash advance fees	cash_advance_fee
Foreign transaction fees	foreign_transaction_fee
Late payment fees	late_payment_fee

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.

Pros

$0 annual fee.
No foreign transaction fee.
Great brand with excellent protection.

Cons

There are no rewards with this card.
High APR.

Easy approval

Indigo® Mastercard®

Annual Fee

$75

First year annual fee is $75, then $99 thereafter

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

24.9% APR

Credit needed: Bad (300–629)

42 people chose this

Learn more Indigo review

Details

Rates/APR

Regular APR	24.9%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Fees

Annual fees	$99
Balance transfer fees	N/A
Cash advance fees	None in the 1st year, then either $5 or 5% thereafter (whichever is higher)
Foreign transaction fees	1%
Late payment fees	Up to $40

Regular APR	24.9%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Annual fees	$99
Balance transfer fees	N/A
Cash advance fees	None in the 1st year, then either $5 or 5% thereafter (whichever is higher)
Foreign transaction fees	1%
Late payment fees	Up to $40

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. It’s nearly a guaranteed approval.

Indigo is an unsecured card. It has an easy pre-qualification process (that won’t impact your credit), and they report to the three major credit bureaus.

Pros

The interest rate is reasonably low at 24.9%.
A first-year fee of just $75.
There’s no additional monthly maintenance fee.

Cons

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.

Best for 400 credit score

FIT Mastercard®

2.8

Annual Fee

$99

There's also a one-time $89 program fee.

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

29.99% APR

Credit needed: Bad (300–629)

21 people chose this

Learn more FIT Review

Details

Rates/APR

Regular APR	29.99%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.99% (Variable)

Fees

Annual fees	$99. Additional one-time $89 fee. Annual maintenance fee of $75.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Regular APR	29.99%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.99% (Variable)

Annual fees	$99. Additional one-time $89 fee. Annual maintenance fee of $75.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Why we like it

The FIT Mastercard® lets you build or reestablish your credit so you can qualify for better (cheaper) cards in the future.

Pros

Fast and easy application process. Results in seconds.
$400 credit limit doubles to $800 (simply make your first 6 monthly minimum payments on time).

Cons

There’s a one-time program fee of $89.
After the first year, there’s a monthly fee in addition to the annual fee ($6.25).
The initial available credit is roughly 75% of your credit limit.
Penalty fees of up to $41.

Best for 500 credit score

Destiny Mastercard®–$700 Credit Limit

Annual Fee

See Terms*

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

See Terms* for APR

Credit needed: Bad (300–629)

7 people chose this

Learn more Destiny review

Details

Rates/APR

Regular APR	See Terms*
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	See Terms*

Fees

Annual fees	See Terms*.
Balance transfer fees	N/A
Cash advance fees	See Terms*
Foreign transaction fees	1%
Late payment fees	See Terms*

Regular APR	See Terms*
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	See Terms*

Annual fees	See Terms*.
Balance transfer fees	N/A
Cash advance fees	See Terms*
Foreign transaction fees	1%
Late payment fees	See Terms*

Why we like it

The Destiny Mastercard® - 700 Credit Limit is an unsecured credit card that’s likely a good fit for people with bad to fair FICO scores.

Pros

Fairly low APR for bad credit—See Terms*.
Higher credit limit of $700.
1% foreign transaction fee.

Cons

High annual fee.
Cash advance fees (See Terms*).
Penalty fees (See Terms*).

*Destiny terms and conditions.

Best for 500 credit score

Milestone® Mastercard

Annual Fee

$35 –$75

First year annual fee is between $35–$75, then $99 thereafter.

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

24.9% APR

Credit needed: Bad (300–629)

20 people chose this

Learn more

Details

Rates/APR

Regular APR	24.9%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Fees

Annual fees	$35–$75 for the first year, then $99 thereafter.
Balance transfer fees	N/A
Cash advance fees	$5 or 5%, whichever is higher (not to exceed $100)
Foreign transaction fees	1%
Late payment fees	Up to $40

Regular APR	24.9%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Annual fees	$35–$75 for the first year, then $99 thereafter.
Balance transfer fees	N/A
Cash advance fees	$5 or 5%, whichever is higher (not to exceed $100)
Foreign transaction fees	1%
Late payment fees	Up to $40

Why we like it

If you’re looking for a second chance in the credit card world, the Milestone® Mastercard® is a decent option.

Pros

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—then $99 a year after that.
The foreign transaction fee is just 1%.

Cons

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%.
Penalty fees of up to $40.

Best for 500 credit score

Credit One Bank® Platinum Visa® for Rebuilding Credit

Annual Fee

$75

First year annual fee is $75, then $99 thereafter

Reward rate

Intro offer

N/A

No intro offer

28.49% APR

Credit needed: Bad (300–629)

47 people chose this

Learn more

Details

Rates/APR

Regular APR	28.49%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	28.49% (Variable)

Fees

Annual fees	$75 for the first year, then $99 thereafter.
Balance transfer fees	N/A
Cash advance fees	$5 or 8% (whichever is higher)
Foreign transaction fees	$1 or 3%, whichever is greater
Late payment fees	Up to $39

Regular APR	28.49%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	28.49% (Variable)

Annual fees	$75 for the first year, then $99 thereafter.
Balance transfer fees	N/A
Cash advance fees	$5 or 8% (whichever is higher)
Foreign transaction fees	$1 or 3%, whichever is greater
Late payment fees	Up to $39

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.

Pros

Earn 1% cash back on eligible purchases.
Minimum credit limit of $300, but upwards of $2,500.
No additional maintenance fees.

Cons

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.

$500 limit for bad credit

Surge® Mastercard

2.5

Annual Fee

$75–$99

First year fee is between $75–$99. Also a yearly maintenance fee of up to $120 after the first year.

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

29.99% APR

Credit needed: Bad (300–629)

19 people chose this

Learn more

Details

Rates/APR

Regular APR	29.99% APR (Variable)
Intro APR	N/A (see website for details)
Balance transfer rate	N/A (see website for details)
Balance transfer intro APR	N/A (see website for details)
Cash advance APR	29.99% (Variable)

Fees

Annual fees	$75–$125 first year, then $99–$125 after that. Additional annual maintenance fee of up to $120.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Regular APR	29.99% APR (Variable)
Intro APR	N/A (see website for details)
Balance transfer rate	N/A (see website for details)
Balance transfer intro APR	N/A (see website for details)
Cash advance APR	29.99% (Variable)

Annual fees	$75–$125 first year, then $99–$125 after that. Additional annual maintenance fee of up to $120.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

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.

Pros

Mastercard’s zero liability protection.
Monthly reporting to the three major credit bureaus.
Free access to your Vantage 3.0 score from Experian (when you sign up for e-statements).

Cons

The APR of 29.99% is pretty high.
First-year annual fee of $75–$99, then $99 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.

$500 limit for bad credit

Reflex® Platinum Mastercard®

2.5

Annual Fee

$75–$125

First year fee is between $75–$125, then $99–$125 after that.

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

29.99% APR (Variable)

Credit needed: Bad (300–629)

13 people chose this

Learn more Reflex review

Details

Rates/APR

Regular APR	29.99% APR (Variable)
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.99% (Variable)

Fees

Annual fees	$75–$125 first year, then $99–$125 after that. Additional annual maintenance fee of up to $120.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Regular APR	29.99% APR (Variable)
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.99% (Variable)

Annual fees	$75–$125 first year, then $99–$125 after that. Additional annual maintenance fee of up to $120.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Why we like it

The Reflex® Platinum Mastercard® is a near-carbon copy of the Surge card. It's even backed by the same company (Continental Finance).

Pros

Initial credit limit of $300–$1,000 (subject to available credit).
Up to $1,000 credit limit doubles up to $2,000 (simply make your first 6 monthly minimum payments on time).
It comes with all the protections and benefits of a Mastercard.

Cons

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.

Best second chance retail credit card

Buy On Trust

3.7

Annual Fee

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

Rent-to-own program

Credit needed: Bad (300–629)

7 people chose this

Learn more

Details

Rates/APR

Regular APR	N/A
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	N/A

Fees

Annual fees	$50 one-time fee to start. $10 to close each account.
Balance transfer fees	N/A
Cash advance fees	N/A
Foreign transaction fees	N/A
Late payment fees	N/A

Regular APR	N/A
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	N/A

Annual fees	$50 one-time fee to start. $10 to close each account.
Balance transfer fees	N/A
Cash advance fees	N/A
Foreign transaction fees	N/A
Late payment fees	N/A

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.

Pros

No credit pull. Instead, they'll check your bank account for at least $1,000 worth of income.
Reports to three major credit bureaus.
Credit limit potential is $5,000.

Cons

You're essentially leasing electronics, which is the most expensive way to buy anything.

Best second chance retail credit card

Unique Platinum

4.2

Annual Fee

Reward rate

N/A

No rewards

Intro offer

N/A

No intro offer

$19.95/mo. membership fee

Credit needed: Bad (300–629)

5 people chose this

Learn more Unique credit card review

Details

Rates/APR

Regular APR	N/A
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	N/A

Fees

Annual fees	$239.40
Balance transfer fees	N/A
Cash advance fees	N/A
Foreign transaction fees	N/A
Late payment fees	N/A

Regular APR	N/A
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	N/A

Annual fees	$239.40
Balance transfer fees	N/A
Cash advance fees	N/A
Foreign transaction fees	N/A
Late payment fees	N/A

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.

Pros

Easy and instant approval.
Your card comes with a $1,000 credit limit.
You can build credit since this card reports to TransUnion.

Cons

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 $19.95 a month.

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Second Chance Credit Cards With No Security Deposit or Checking Accounts

"Can I get a credit card without paying a deposit?"

Absolutely.

"Ok, so which credit cards do not require a desposit?"

We found nearly a dozen great options.

See below for the best second chance credit cards without a deposit. Continue down the page for more detail on each one:

Capital One QuicksilverOne: For rebuilding credit
Capital One Platinum card: For rebuilding credit
Indigo® Mastercard®: Best for easy approval
FIT Mastercard®: Best for 400 credit score
Milestone® Mastercard®: For 500 credit score
Credit One Bank® Platinum Visa® for Rebuilding Credit: For 500 credit score
Destiny Mastercard®–$700 Credit Limit: For 500 credit score
Surge® Mastercard®: For $500 limit for bad credit
Reflex® Platinum Mastercard®: For $500 limit for bad credit
Buy On Trust: Retail credit card
Unique Platinum: Retail credit card

Rebuilding credit cards with no deposit—Capital One QuicksilverOne and Capital One Platinum

Account Basics

Detail	Metric
Regular APR	29.99%
Intro APR	N/A
Balance transfer rate	0%
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Fees/Restrictions

Type	Description
Annual fees	$39
Balance transfer fees	None for balances transferred at the transfer APR
Cash advance fees	$3 or 3% (whichever is higher)
Foreign transaction fees	None
Late payment fees	Up to $40

Why we picked it

Capital One is a top name in credit cards.

While the Capital One QuicksilverOne 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.

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.

Pros

1.5% cash back on every purchase, every day.
5% cash back on hotels and rental cars booked through Capital One Travel.
No foreign transaction fees

Cons

$39 annual fee
High APR of 29.99% for those with lower credit scores.

Account Basics

Detail	Metric
Regular APR	29.99%
Intro APR	N/A
Balance transfer rate	0%
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Fees/Restrictions

Fees	Description
Annual fees	$0
Balance transfer fees	None for balances transferred at the transfer APR
Cash advance fees	$3 or 3% (whichever is higher)
Foreign transaction fees	None
Late payment fees	Up to $40

Why we picked 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.

Pros

No annual fee
Accepted almost anywhere

Cons

There are no rewards with this card.
High APR of 29.99%.

Easy approval credit cards with no deposit—Indigo® Mastercard®

Account Basics

Detail	Metric
Regular APR	24.9%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Fees/Restrictions

Type	Description
Annual fees	$99
Balance transfer fees	N/A
Cash advance fees	None in the 1st year, then either $5 or 5% thereafter (whichever is higher)
Foreign transaction fees	1%
Late payment fees	Up to $40

Why we picked it

What is the easiest unsecured card to get? We gave this prize to Indigo®.

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.

Pros

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.

Cons

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—FIT Mastercard®

Account Basics

Detail	Metric
Regular APR	29.99%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Fees/Restrictions

Type	Description
Annual fees	$99. Additional one-time $89 fee. Annual maintenance fee of $75.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Why we picked it

The FIT Mastercard® lets you build or reestablish your credit so you can qualify for better (cheaper) cards in the future.

It’s backed by Continental Finance—one of the most established credit card companies in America.

While it certainly isn’t the best second-chance credit card on the market, it’s one of the few unsecured options available for a credit score under 500.

Pros

The application process takes just 60 seconds (basically instant approval), so you’ll know if you’re approved immediately.
After six timely minimum payments, you can double your credit limit.

Cons

There’s a one-time program fee of $89.
After the first year, there’s a monthly fee in addition to the annual fee ($6.25).
The APR is 29.99%.
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 $41.

Read our full FIT Mastercard® review.

Credit cards for a 500 credit score with no deposit—Milestone® Mastercard®, Credit One Bank® Platinum Visa® for Rebuilding Credit, and Destiny Mastercard®–$700 Credit Limit

Account Basics

Detail	Metric
Regular APR	24.9%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.9% (Variable)

Fees/Restrictions

Type	Description
Annual fees	$35–$75 for the first year, then $99 thereafter.
Balance transfer fees	N/A
Cash advance fees	$5 or 5%, whichever is higher (not to exceed $100)
Foreign transaction fees	1%
Late payment fees	Up to $40

Why we picked it

If you’re looking for a second chance in the credit card world, the Milestone® Mastercard® is a decent option.

Pros

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%.

Cons

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.

Account Basics

Detail	Metric
Regular APR	28.49%
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	28.49% (Variable)

Fees/Restrictions

Type	Description
Annual fees	$75 for the first year, then $99 thereafter.
Balance transfer fees	N/A
Cash advance fees	$5 or 8% (whichever is higher)
Foreign transaction fees	$1 or 3%, whichever is greater
Late payment fees	Up to $39

Why we picked it

The Credit One Bank® Platinum Visa® was created specifically for those looking to rebuild their bad credit. And it’s one of the few rewards cards in the subprime market.

Pros

Earn 1% cash back on eligible purchases.
Minimum credit limit of $300, but upwards of $2,500.
No additional maintenance fees.

Cons

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.

Account Basics

Detail	Metric
Regular APR	See Terms*
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	See Terms*

Fees/Restrictions

Type	Description
Annual fees	See Terms*
Balance transfer fees	N/A
Cash advance fees	See Terms*
Foreign transaction fees	1%
Late payment fees	See Terms*

*Destiny terms and conditions.

Why we picked it

The Destiny Mastercard®—700 Credit Limit 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 they report to the three major credit bureaus (Experian, TransUnion, and Equifax).

Pros

Fairly low APR for bad credit.
Higher credit limit at $700.
1% foreign transaction fee.

Cons

Cash advance fee.
Penalty fees.

Check out our full Destiny Mastercard®—700 Credit Limit Review

$500 credit card for bad credit—Surge® Mastercard® and Reflex® Platinum Mastercard®

Account Basics

Detail	Metric
Regular APR	29.99% APR (variable)
Intro APR	N/A (see website for details)
Balance transfer rate	N/A (see website for details)
Balance transfer intro APR	N/A (see website for details)
Cash advance APR	29.99% (Variable)

Fees/Restrictions

Type	Description
Annual fees	$75–$99 first year, then $99 after that. Additional annual maintenance fee of up to $120.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Why we picked 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.

Pros

You get Mastercard’s zero liability protection.
Monthly reporting to the three major credit bureaus.
Free access to your Vantage 3.0 score from Experian (when you sign up for e-statements).

Cons

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

Account Basics

Detail	Metric
Regular APR	29.99% APR (Variable)
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	29.99% (Variable)

Fees/Restrictions

Type	Description
Annual fees	$75–$125 first year, then $99–$125 after that. Additional annual maintenance fee of up to $120.
Balance transfer fees	N/A
Cash advance fees	$10 or 3%, whichever is higher
Foreign transaction fees	3%
Late payment fees	Up to $41

Why we picked it

The Reflex® Platinum Mastercard® is a near-carbon copy of the Surge card.

Pros

Initial credit limit of $300–$1,000 (subject to available credit).
Up to $1,000 credit limit doubles up to $2,000 (simply make your first 6 monthly 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)

Cons

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

Account Basics

Detail	Metric
Regular APR	N/A
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	N/A

Fees/Restrictions

Type	Description
Annual fees	$50 one-time fee to start. $10 to close each account.
Balance transfer fees	N/A
Cash advance fees	N/A
Foreign transaction fees	N/A
Late payment fees	N/A

Why we picked 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.

But 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.

Pros

High credit limit
No credit check

Cons

Leasing is the most expensive way to buy anything
Limited to Best Buy products

Account Basics

Detail	Metric
Regular APR	N/A
Intro APR	N/A
Balance transfer rate	N/A
Balance transfer intro APR	N/A
Cash advance APR	N/A

Fees/Restrictions

Type	Description
Annual fees	$263.28
Balance transfer fees	N/A
Cash advance fees	N/A
Foreign transaction fees	N/A
Late payment fees	N/A

Why we picked 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.

Pros

Your card comes with a $1,000 credit limit.
You can build credit since this card reports to TransUnion.
0% APR.

Cons

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.

Second Chance Unsecured Credit Cards With No Deposit (But With a Checking Account)

So 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?). Yup! They're all the options you saw above.

I also 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.

Pros

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.

Cons

Need to link to your bank account
Need to pay off your balance in full each month

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.

Pros

0% APR.
No annual fee.
No credit check to qualify.

Cons

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?

Capital One believes in second chances, which is why they created the Capital One QuicksilverOne Cash Rewards Credit Card. It's for those with a sub-600 credit score, and it still provides up to 5% cash back on your purchases.

What is the Fresh Start unsecured credit card?

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%.

Can I get a credit card without direct deposit?

Yes, many of the options within our list of the best second chance credit cards are unsecured cards and do not require a direct deposit.

What is the easiest unsecured card to get?

The easiest unsecured credit card to get is the Indigo® Mastercard®. With a 24.9% APR and an annual fee of just $75, it's also one of the top second chance credit cards on the market.

Can I rebuild my credit without a secured card?

Yes. There are many unsecured credit card options for those with less-than-perfect credit. They report to all three credit bureaus, but they may change an annual fee.

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.

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