Get a $500 Credit Card Limit With Bad Credit and No Deposit
If you have bad credit and want a $500 credit card limit with no deposit, there are unsecured credit card options that can provide more than $500 in available credit without requiring a security deposit. Some cards available to people with bad credit offer a $700 credit limit if approved. When a $175 annual fee is deducted from that initial credit line, approximately $525 in available credit remains. That means you can potentially get the $500 or more in available credit you are looking for without putting down a $500 refundable security deposit. Below are three unsecured credit card options to consider if your goal is a $500 credit limit with bad credit and no deposit.
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Credit Cards That Can Give You $500 or More Without a Deposit
The cards below are unsecured credit cards for consumers with less-than-perfect credit. Unlike a secured credit card, they do not require you to make a security deposit to establish the credit line. If approved for a $700 starting credit limit and a $175 annual fee is deducted from the credit line, approximately $525 remains available.
Indigo® Mastercard® for Less than Perfect Credit
- Get the credit limit you deserve—$700 guaranteed if approved
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- Get the credit you deserve, even with less-than-perfect history.
- Trusted by more than a million customers with reporting to all three major credit bureaus so you get credit for all of your hard work.
- Zero Fraud Liability - Peace of mind that comes with having a Mastercard.
- Don't Have Perfect Credit? No Problem!
- No security deposit, just purchasing power.
- CLICK HERE TO APPLY ONLINE
Destiny Mastercard®
- A guaranteed $700 credit limit to help get your financial goals on track, if approved.
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- No security deposit, and a path to better credit.
- Zero Fraud Liability - Peace of mind that comes with having a Mastercard.
- Get the credit you deserve, even with less-than-perfect history.
- An unsecured card great for everyday purchases
- CLICK HERE TO APPLY ONLINE
Milestone® Mastercard®
- Guaranteed $700 credit limit if approved.
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- Don't Have Perfect Credit? No Problem!
- Join over a million consumers who are working on building their access to credit.
- Zero Fraud Liability - Peace of mind that comes with having a Mastercard.
- Get the credit you deserve, even with less-than-perfect history.
- No security deposit, and a path to better credit.
- CLICK HERE TO APPLY ONLINE
How Can You Get a $500 Credit Card With Bad Credit and No Deposit?
The key is to look for an unsecured credit card with a starting credit limit high enough to leave at least $500 available after any applicable fees. A card does not necessarily have to advertise a $500 starting limit to give you $500 or more in usable credit. For example, a $700 credit limit with a $175 annual fee deducted from the initial credit line would leave approximately $525 available.
Our guide to $500 credit card limits with no deposit and bad credit explains this calculation in more detail and discusses why the stated credit limit and the amount initially available to spend can be different.
What If You Need Exactly $500 in Credit?
If your goal is simply to have at least $500 available to use, an unsecured card with a starting limit above $500 may accomplish that without requiring a deposit. The important numbers to compare are the starting credit limit, annual fee, and amount of credit available after the fee is charged.
If you are comparing secured and unsecured options, our guide to how to get a $500 credit card limit with bad credit explains both approaches. A secured card may allow you to establish a $500 credit line with a refundable deposit, while an unsecured card does not require that deposit.
Why These Cards Can Work for a $500 Credit Limit
The three cards featured on this page are particularly relevant to this search because they are unsecured cards marketed to consumers with less-than-perfect credit and have credit-line options that can provide more than $500 in available credit after the applicable annual fee.
If you want to compare these three cards and then read our individual reviews before applying, see our guide to $500 credit cards with bad credit and no deposit.
$500 Credit Limit vs. $500 Available Credit
These are not always the same thing. A credit card can have a $700 credit limit while providing less than $700 in immediately available credit if an annual fee is charged against the initial credit line.
For example, a $700 credit limit minus a $175 annual fee leaves approximately $525 in available credit. That distinction is especially important when you are searching for a card because you may be interested in the amount you can actually use rather than simply the advertised credit limit.
Can You Get a $500 Credit Limit With Bad Credit?
Yes, depending on the card and your application. People with bad credit have both secured and unsecured credit card options to consider. An unsecured card can provide a $500-or-more credit limit without requiring a security deposit, while a secured card generally requires a refundable deposit to establish or support the credit line.
If avoiding a deposit is your priority, focus on unsecured cards and pay close attention to the starting credit limit and fees. Approval, credit limits, and account terms are determined by the issuer based on the application and applicable underwriting criteria.
Compare Your Options Before Applying
If you are specifically searching for a $500 credit card limit with bad credit and no deposit, the three unsecured cards featured above give you a place to start. Before applying, compare the credit limit, annual fee, available credit after any initial fee, and other account terms.
You can also use our $500 credit card limit with no deposit guide to understand the available-credit calculation, or read our $500 credit card with bad credit and no deposit guide to see links to the individual card reviews.
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FICO® Credit Scores
A FICO® Score is a proprietary credit score created by the Fair Isaac Corporation (FICO). About 90% of top U.S. lenders use it to make lending decisions.
FICO® Score Ranges:
- Exceptional: 800–850
- Very Good: 740–799
- Good: 670–739
- Fair: 580–669
- Poor: 300–579
FICO categorizes scores as Poor, Fair, Good, Very Good, and Exceptional.
What is a Credit Score?
A credit score is a three-digit number (300–850) predicting your creditworthiness. Lenders use it to evaluate risk and determine rates and terms for credit.
Why it matters: A higher score can help you qualify for loans and lower interest rates. A lower score can lead to higher borrowing costs or application denials.
FICO® Credit Score Facts
- Three-Digit Number: Summarizes your credit risk.
- Range: 300–850; higher scores = lower risk.
- Data Source: Uses your credit reports from Experian, Equifax, and TransUnion.
- Industry Standard: Lenders rely on FICO for mortgages, auto loans, and credit cards.
Note: Credit scores reflect your creditworthiness but do not guarantee approval for any credit product.
Security Notice: All participating issuers use secure application systems protected by Transport Layer Security (TLS) encryption to help protect your information.
*See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the " Apply Now " button you can review the credit card terms and conditions on the credit card issuer's web site.
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