Best Credit Cards for a 490 Credit Score 2024 (2024)

FAQs

What credit card can I get with a 490 credit score? ›

The best credit card for a 490 credit score is the OpenSky® Plus Secured Visa® Credit Card because it does not check your credit score when you apply and has a $0 annual fee. The OpenSky® Plus Secured Visa® Credit Card also reports to the credit bureaus on a monthly basis.

With an 490 credit score, you're unlikely to get approved for a traditional credit card.

There are no fast solutions to bad credit. Recovery is a process that will likely take at least 12-18 months, just to progress to a “fair” rating. Review Credit Reports for Errors: Your “bad” rating may be the result, at least in part, of erroneous information on your credit reports.

Very limited options. The majority of lenders will refuse your credit application if you have a 490 credit score. Even if you get approved, it will only be by specialised lenders who offer so-called “bad credit loans” with extremely high interest rates and short repayment periods.

Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 490 FICO^® Score is significantly below the average credit score.

The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the type of mortgage loan you're applying for and your lender. While it's possible to get a mortgage with bad credit, you typically need good or exceptional credit to qualify for the best terms.

It is possible to qualify for an FHA loan with a credit score as low as 500, although you won't get the standard 3.5% down payment these loans are known for. Borrowers without a FICO Score of at least 580 need to put 10% down.

How to raise your credit score 200 points in 30 days? ›

Summary: Here are six ways to raise your credit score 40 points fast: check for errors on your report, remove late payments, reduce credit card debt, become an authorized user, make payments twice a month, and build credit with your credit card.

There's no specific minimum credit score required to qualify for a car loan. Still, if you have poor credit, it could be difficult to get approved for a car loan. Even with the best auto loans for poor credit, watch out for high interest rates, which can make it very expensive to borrow money.

However tempting it may be to pay someone to undo damage, you are your own best resource. In short, no one can legally remove accurate and timely negative information from a credit report, and everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost.

The OpenSky® Plus Secured Visa® Credit Card is the easiest credit card to get because you can qualify even with bad credit as there's no credit check for new applicants.

You need a credit score of 550 to 750 to be approved for most unsecured credit cards. The higher your credit score is, the better your chances of getting approved for one of the best credit cards with no security deposit will be.

You can get a credit card with bad credit by applying for a secured credit card or an unsecured credit card for bad credit. Secured cards require a security deposit but have lenient credit score requirements making them accessible even if you have bad credit.