FAQs
One of the best credit cards for a 550 credit score is the OpenSky® Plus Secured Visa® Credit Card because it has a $0 annual fee and there's no credit check when you apply, so approval is almost guaranteed.
What credit card can I get approved for with a 550 credit score? ›
One of the best credit cards for a 550 credit score is the OpenSky® Plus Secured Visa® Credit Card because it has a $0 annual fee and there's no credit check when you apply, so approval is almost guaranteed.
Can you get anything with a 550 credit score? ›
While you technically can get approved for a loan with a 550 credit score, you'll likely face more challenges and pay significantly more for the loan than if your score was higher.
What is the easiest card to get with bad credit? ›
If you're struggling to get approved for your first credit card, the OpenSky® Secured Visa® Credit Card could be a good option. According to its website, based on Q1 2024, the average approval rate of this card is 89.35%.
What credit card is best for a 560 credit score? ›
- Best Overall: Discover it® Secured Credit Card.
- No Credit Check: OpenSky® Secured Visa® Credit Card.
- Unsecured: Credit One Bank® Platinum Visa® for Rebuilding Credit.
- Rewards & No Annual Fee: Capital One Quicksilver Secured Cash Rewards Credit Card.
Comparing the easiest cards to get
| Card Name | Annual fee | FICO score required |
|---|
| Bank of America® Unlimited Cash Rewards Secured credit card | $0 | No credit history |
| Capital One Platinum Secured Credit Card | $0 | No credit history |
| Indigo® Mastercard® | $0-$99 depending on creditworthiness | 300 to 670 |
| Capital One Platinum Credit Card | $0 | 580 to 740 |
3 more rowsJun 28, 2024
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. The OpenSky Plus Card also has a $0 annual fee and reports to the major credit bureaus, making it easy to save money and build credit.
How long does it take to get a 700 credit score from 550? ›
How Long Does It Take to Fix Credit? The good news is that when your score is low, each positive change you make is likely to have a significant impact. For instance, going from a poor credit score of around 500 to a fair credit score (in the 580-669 range) takes around 12 to 18 months of responsible credit use.
What credit score do you need to get a $30,000 loan? ›
This allows them to look at your history from the past seven years and see whether you've typically made payments on time. For a $30,000 loan, you'll typically need a credit score above 600 just to qualify or above 700 to get a competitive rate.
Can I get a line of credit with a 550 credit score? ›
Most lenders require a minimum credit score of between 600 and 650, but some lenders specialize in bad credit personal loans. It may be more challenging to find a lender willing to work with you, but obtaining a loan with a 550 credit score is possible.
The best credit card overall is the Wells Fargo Active Cash® Card because it gives 2% cash rewards on purchases and has a $0 annual fee. For comparison purposes, the average cash rewards card in 2024 gives about 1% back.
What store card is easiest to get approved for? ›
Here's a Summary of the Best Instant Approval Store Credit Cards
- Prime Visa.
- Costco Anywhere Visa® Card by Citi *
- Gap Good Rewards Mastercard® *
- Key Rewards Visa *
- Target Circle™ Credit Card *
- MyLowe's Rewards Credit Card *
- Kohl's Card *
Side-by-side comparison of the best credit cards for instant approval
| Credit Cards | Our Ratings | Annual Fee |
|---|
| OpenSky® Secured Visa® Credit Card Apply Now on Capital Bank, N.A.'s secure site | 2.3 No credit check | $35 |
| Chase Freedom Unlimited® Apply Now on Chase's secure site | 4.6 High credit limit | $0 |
| Citi Simplicity® Card* Learn More | 4.8 | |
1 more rowSep 9, 2024
Some of the easiest unsecured cards to get approved for are the Indigo® Mastercard®, Mission Lane Visa® Credit Card and Milestone® Mastercard®. While these cards are geared toward people with bad credit and have easy approval odds, they tend to charge high fees and interest, which can make building credit costly.
What credit card starts with the highest credit limit? ›
Highest Credit Card Limits of 2024
- Chase Sapphire Reserve®: $10,000+ credit limit.
- Chase Sapphire Preferred® Card: $5,000+ credit limit.
- Wells Fargo Reflect® Card: $1,000+ credit limit.
- Wells Fargo Active Cash® Card: $1,000+ credit limit.
- Chase Freedom Unlimited®: $500+ credit limit.
Yes, it's possible to get a credit card with bad credit, including a score of 550.
Can I get credit with a score of 550? ›
Very limited options. The majority of lenders will refuse your credit application if you have a 550 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.
What's the lowest credit score to get a credit card? ›
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.
What credit card has a $5000 limit with bad credit? ›
The Bank of America® Travel Rewards Secured Credit Card is the best credit card with a $5,000 limit for bad credit. You can get a $5,000 credit limit with the Bank of America Travel Secured Card by placing a refundable security deposit of $5,000. The card also offers 1.5 point per $1 spent and has a $0 annual fee.
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