Bank Credit Cards for Bad Credit

If you have bad credit and want a credit card from a major bank, you do have options, although the choices vary significantly from one bank to another. Some major banks offer secured credit cards designed to help people build or rebuild their credit, while others do not currently offer a credit card specifically for people with bad credit. Below is a look at the major banks and the credit card options they currently offer.

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Which Banks Offer Credit Cards for Bad Credit?

When looking for a bank credit card with bad credit, it is important to look at the actual cards each bank offers rather than assuming that every major bank has an option for people with poor credit. Among the major banks covered here, the credit-building options are secured credit cards, which require a refundable security deposit. Some major banks do not currently offer a secured credit card or a credit card specifically designed for people with bad credit.

Capital One Credit Cards for Bad Credit

Capital One offers secured credit card options for people who are building or rebuilding their credit. Its Platinum Secured Credit Card requires a refundable security deposit, with the minimum deposit depending on the applicant's creditworthiness. Capital One also offers the Quicksilver Secured Rewards Credit Card, which provides cash back rewards along with the secured credit-building structure.

Capital One periodically reviews secured accounts for eligibility to upgrade to a traditional unsecured credit card. The bank also has unsecured credit cards, although approval requirements vary by card and applicant.

For more information about the cards Capital One offers to people with bad credit, see our Capital One Credit Cards for Bad Credit page.

Citi Credit Cards for Bad Credit

Citi currently offers the Citi Secured Mastercard^® for people who are building or rebuilding their credit. The card requires a refundable security deposit between $200 and $2,500, with the credit limit equal to the amount of the deposit. Citi also reports account activity to the major credit bureaus.

The Citi Secured Mastercard has no annual fee. Citi says secured card customers may become eligible for an upgrade to the Citi Diamond Preferred Credit Card after meeting its graduation criteria. Citi begins reviewing customers for early graduation at nine months and then reviews accounts on a 12-month basis.

For more information about Citi's secured card and its requirements for applicants with bad credit, see our Citi Credit Cards for Bad Credit page.

Discover Credit Cards for Bad Credit

Discover offers the Discover it^® Secured Cash Back Credit Card for people who are building or rebuilding their credit. A refundable security deposit as low as $49 can provide a starting credit line of at least $200. The card also has no annual fee and offers cash back rewards.

The Discover it Secured Cash Back card reports account activity to the three major credit bureaus. Discover says that after establishing a positive track record, a cardholder can earn back the security deposit and upgrade to the Discover it Cash Back Credit Card.

For more information about Discover's credit cards for people with bad credit, including the secured card and its deposit requirements, see our Discover Credit Cards for Bad Credit page.

U.S. Bank Credit Cards for Bad Credit

U.S. Bank offers secured credit card options for people who are building or rebuilding their credit. Its secured cards require a refundable security deposit, and the deposit generally establishes the credit limit. The U.S. Bank Secured Visa^® Card, for example, requires a deposit of $300 to $5,000 and has no annual fee.

U.S. Bank reports secured card activity to the three major credit bureaus, allowing responsible use of the card to help establish or rebuild a credit history. The bank currently offers multiple secured card products, including the U.S. Bank Secured Visa, U.S. Bank Cash+^® Secured Visa, and U.S. Bank Altitude^® Go Secured Visa.

For a closer look at U.S. Bank's secured credit cards and how they work for people with bad credit, see our U.S. Bank Credit Cards for Bad Credit page.

Bank of America Credit Cards for Bad Credit

Bank of America offers secured credit cards that can be used to establish, strengthen, or rebuild credit. Its BankAmericard^® Secured Credit Card requires a security deposit of $200 to $5,000, and the bank periodically reviews accounts to determine whether the security deposit can be returned.

Bank of America also offers the Bank of America^® Travel Rewards Visa^® Secured Credit Card, which combines the secured credit-building structure with travel rewards. Both secured cards currently have no annual fee.

For more information about Bank of America's secured credit card options, see our Bank of America Credit Cards for Bad Credit page.

Chase Credit Cards for Bad Credit

Chase does not currently offer a secured credit card. This is important to understand if you have bad credit and are specifically looking for a secured card from a major bank.

Chase does offer other credit cards that may be relevant to people who are establishing credit, but the bank does not currently have a secured credit card specifically designed for people with bad credit. Approval for any Chase credit card depends on the individual card and the applicant's qualifications.

For more information about what Chase currently offers to people with bad credit, see our Chase Credit Cards for Bad Credit page.

Wells Fargo Credit Cards for Bad Credit

Wells Fargo does not currently offer a secured credit card specifically for people with bad credit. Its current credit card lineup is primarily made up of unsecured cards, which generally have different credit requirements than secured cards.

If you have bad credit and are specifically looking for a Wells Fargo card, it is important to understand that the bank does not currently provide the type of secured credit-building option offered by banks such as Capital One, Citi, Discover, U.S. Bank, and Bank of America.

For more information, see our Wells Fargo Credit Cards for Bad Credit page.

Secured vs. Unsecured Bank Credit Cards for Bad Credit

The biggest difference between the two types of credit cards is the security deposit. A secured credit card requires a refundable deposit that serves as collateral for the account, while an unsecured credit card does not require a security deposit.

Secured cards are commonly used by people who are building or rebuilding credit because the deposit reduces the bank's risk. However, having a secured card does not guarantee approval. Banks can still evaluate your credit history, income, existing debts, and other information when deciding whether to approve an application.

If you qualify for a secured card and use it responsibly, the account can help you establish a positive payment history. Some banks also periodically review secured accounts for possible graduation to an unsecured card.

Which Major Banks Have Secured Credit Cards?

Among the major banks covered above, Capital One, Citi, Discover, U.S. Bank, and Bank of America currently offer secured credit card options. Chase does not currently offer a secured credit card, and Wells Fargo does not currently offer a secured card specifically designed for people with bad credit.

The specific deposit requirements, rewards, fees, credit limits, approval criteria, and graduation policies vary by bank and card. That is why it is worth looking at the individual bank before applying rather than assuming all secured credit cards work the same way.

Bank Credit Cards for Bad Credit Can Be a Starting Point

A credit card from a major bank can be one way to begin rebuilding a damaged credit history, but the available options depend heavily on the bank and the type of credit card. Secured cards can provide access to a traditional revolving credit account while requiring a refundable security deposit, while some unsecured cards may be available to applicants with less-than-perfect credit.

If you are considering a bank credit card with bad credit, start by looking at the individual bank's requirements and the specific card it offers. Our bank-specific guides above provide more detailed information about the available cards, deposit requirements, credit-building features, and other requirements for each issuer.

All credit card applications are subject to the issuer's approval criteria, and having bad credit does not guarantee approval for any particular card.