The short answer to “easiest credit cards to get” question is it depends on personal credit history and credit score. You expand your options of easiest credit cards to get, if you have a good credit score.
If you have an excellent credit with FICO score above 800, you will probably get any card you want. Your good credit history and responsible payments shows that you are a responsible and trustworthy borrower.
So, you will have really wide options of potential approvals for heavily rewarding premium cards. Not to forget, it will become easy to get free or low annual fee credit card options.
But, let’s say you have a bad credit score, no credit history or very thin credit, qualifying for first credit card may prove to become a insurmountable challenge.
Here is where you need to land to start searching for easiest credit cards to get approved for.
Look Out For Easiest Credit Cards To Get
Many credit cards generally provide you credit pre-approval process. As a result, the potential credit card companies will analyze your credit data through a soft inquiry or soft pull. Your approval odds increase with a strong credit score and credit history.
Secured credit card
Secured credit card is definitely the easiest credit cards to get for people with bad credit and no credit. But, the catch is they have to pay a collateral or security deposit upfront.
As a result, they get a credit limit equal to their collateral and credit card company takes no risk from your credit line. You will lose your security deposit, if you don’t make timely payments on your monthly credit card bill.
Building a good security deposit amount can be a hurdle for many. But, the deposit you make is refundable. After you build your credit, you can close your secured credit card account or convert to an unsecured account and get your deposit back.
These credit cards are just a stop gap measure to improve your credit and open yourself up to many options. Once you open an account, they start reporting your revolving credit balances to the major 3 credit bureaus.
In addition, these cards generally don’t have any annual fee, so you build your credit for free, except for providing collateral. But, most credit cards in this category do not provide you any rewards.
For the same reason, I find Discover it Secured to be the best no annual fee credit card with great rewards.
Some Credit cards like OpenSky Secured Visa Credit Card charges an anuual fee in the place of security deposit. They don’t have any rewards but also don’t require credit check or account. But, they charge a $35 annual fee.
Store credit card
Store credit card can be one of the easiest cards to get with low credit score requirements. But, it can turn into a double edge sword. These store credit cards generally have low credit limit and high APR, if you don’t pay back in full.
So, these cards tend to be a boon for people with average credit or bad credit. Also, don’t forget that you can these cards only with a particular merchant. It may be in use both in physical storefront or online but generally works with only one merchant company.
But, make no mistake, these store cards can help build credit history. They report to all credit bureaus. Many store cards are competing to be everyday cards with huge increase in rewards.
They want to stay forever in customer wallets by upping their rewards. Also, they extend rich perks and rewards on everyday spend with co-branded partnership outside the brand.
For instance, Target RedCard credit card can only be used in Target Physical store or Target.com online.
But, for instance, CapitalOne Walmart Rewards Master card allows you to shop at Walmart or other spend categories. It is available for people with just average credit with at least 630 FICO score. Also, this card features bonus multiplier rewards at Walmart and also some other spend categories. Additionally, there is no fee for holding credit card or any store membership plan to acquire the card.
Student credit card
Student credit card is generally for students between 18 and 21 years of age. Obviously, students will not have any credit history or very little. Also, they may have higher probability of bad credit with not able to juggle credit and cashflow.
To get a student credit card, you need to be a student with school enrollment, in most cases. But, not always. You need not be a student necessarily to get student credit card. But, you may have to fulfill some other requirements.
If you are below 21, you will have to provide some proof that you’ve some independent income. Else, you may have to find a guarantor or co-signer. These are great barriers or obstacles to overcome in these days.
What credit card companies allow co-signers? Not many, difficult to find. And, considering you may also be having poor credit, don’t count on your approval odds.
But, yes, these student cards are specially designed for people starting it out with their credit journey. The application design goes with the fact that there will be no FICO score history requirement.
The Student Cashback card earns 5% in rotating categories for every quarter and 1% CB on all other purchases. Just like, the Discover it cashback card. Remember, all this no annual fee.
The Student Chrome card earns 2% at restaurants and gas stations and 1% every where else. So, overall they are really good options for no annual fee student credit card.
Authorized user credit card
If you want to take advantage of someone else’s credit history, then becoming authorized user may be an option. Also, if you just want a credit card on your name, then become authorized user to use it like yours. This is one of the easiest credit cards to get.
You don’t have to open a new credit card account by yourself. As long as there is a primary card account holder, you can add yourself as AU to their account.
If a spouse, parent, kid above 18 or other family member agrees to add you, you’ll get authorized user credit card on your name to use.
In addition, if the primary cardholder already has great credit history, then it will help you. You will absorb their credit history and show it as if it is yours. Also, you need to make sure the credit card company reports authorized user credit activity to credit bureaus. As a result, your credit scores will increase gradually with long history and timely payments.
Even though you have authorization to make credit card charge, you’re not liable to pay it off. The fiscal responsibility is on the primary card holder, despite how much authorized user credit card racks up debt.
Also, remember some companies like Chase will automatically include Authorized user applications in their 5/24 rule by default. If you ever get denial with AU cards on your portfolio, call their reconsideration line. As a result, you will get approval if you’re within 5/24 after removing AU cards.
Applying for Chase Sapphire Reserve Authorized User is counted for 5/24, but will be removed upon calling reconsideration. Similarly, for Chase Sapphire Preferred or any other personal chase credit cards too.
Alternative credit card
These altnerative credit card come into picture when you can’t pay a security deposit upfront and don’t have good credit. Alternative credit card doesn’t require you to show your responsibility through FICO score or Vantage credit score.
Instead of fully going by the old credit responsibility models, these alternative card companies use proprietary under writing standards to determine creditworthiness. For example, they may examine fiscal situation from your bank balances, your income, employer history and more.
Two of the best alternative credit card in my opinion are AvantCard Credit Card and Petal Visa Credit Card. They don’t require you to have either credit history or credit score. Additionally, they may not even ask your Social Security Number (SSN) while applying.
They go by alternative scoring models that uses more useful and simple key performance indicators like debt to income ratio. These cards may not earn much rewards but they generally do not charge annual fees as well.
Alternative credit card is one of the easiest credit cards to get as long as you are financially strong and doesn’t matter how strong or weak your credit profile is.
Parting Thought – Easiest Credit Cards To Get
Alright, now you know there are lot of options to choose from. There are multiple categories of easiest credit cards to get. This does not mean you will keep applying for new credit cards.
Be Fiscally and financially responsible and build your net worth and credit history. Building your credit score helps you get lower interest rates on your personal loans or auto loans or mortgages.
If you have a bad credit and want to quickly rebuild credit, choose one of the easiest credit cards and make sure they report to all 3 major credit bureaus – Experian, Transunion and Equifax.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates