What Credit Score Is Needed For Unsecured Credit Card? (2024)

FAQs

What Credit Score Is Needed For Unsecured Credit Card? ›

What credit score is needed for an unsecured 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.

Yes, many cards are available to people with a 600 credit score. While you probably won't get approved for a top-tier card, you can almost certainly get a modest, unsecured credit card.

However, if you have at least fair credit, or a FICO score between 580 to 669, you'll likely have more unsecured credit card offers available to you.

To qualify for a personal loan, borrowers generally need a minimum credit score of at least 580 — though certain lenders have even lower requirements than that. However, your chances of getting a low interest personal loan rate are much higher if you have a “very good” or “excellent” credit score of 740 and above.

Most unsecured credit cards require credit in the good to excellent range (670-850). This range is where you'll become eligible for many different kinds of rewards and 0 percent intro APR cards. You can also find some cards that will accept a score in the fair to good range (580-669).

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.

Improving your credit in 30 days is possible. Ways to do so include paying off credit card debt, becoming an authorized user, paying your bills on time and disputing inaccurate credit report information.

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.

Which bank approves a credit card easily? ›

While not everyone may qualify for a secured card, credit score requirements are usually less strict for secured vs. unsecured credit cards, which means a poor credit score may not stop you from getting approved.

The best unsecured credit card for a 500 credit score (and one of the easiest to get) is the Credit One Visa card. This card offers a $300 starting credit limit, the potential for automatic credit line increases, and rewards on select purchases.

While some personal loan lenders allow you to apply with a very low credit score, many require a minimum credit score of 660 or 700 to be considered for a $3,000 personal loan. Generally, the higher your credit score, the less interest you will pay.

Requirements for a $20,000 Personal Loan

This means they'll want to see your credit score, income level and DTI ratio. Requirements vary by lender, but most lenders require borrowers to have a credit score in the good to excellent range — meaning a score of at least 670.

Most credit cards are unsecured. The card issuer (typically a bank or credit union) does limit the amount you can spend with the card, but unlike secured cards, there is no deposit required beforehand.

The Discover it^® Secured Credit Card is our top pick for easiest credit card to get because it's geared toward those with limited / poor credit. It offers great rewards and charges a $0 annual fee. Plus, Discover will conduct monthly account reviews after seven months to see if you qualify to get your deposit refunded.

One of the best credit cards for a 530 score is the Capital One Quicksilver Secured Cash Rewards Credit Card because it offers rewards and a $0 annual fee. This credit card requires a security deposit of at least $200 to open the account. Most of the best cards for people with a 530 credit score are secured cards.