Second Chance Credit Cards With Guaranteed Approval No Deposit

If you have bad credit and need a second chance credit card without putting down a security deposit, there are unsecured credit cards available for people rebuilding their credit. However, no legitimate credit card can offer guarantee approval for everyone.

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Second Chance Credit Cards With No Deposit

The cards below are designed for consumers who may have difficulty qualifying for traditional credit cards. Because they are unsecured cards, you do not have to put down a cash deposit to establish your credit line.

We recommend starting with this credit card tool first. It's absolutely free to use, won't affect your credit score, and there's no obligation to apply.

Is Guaranteed Approval Really Possible?

Despite the way some credit cards are advertised, guaranteed approval does not mean that everyone who applies will be approved. Credit card companies still have eligibility requirements and review each application.

That's why it's important to distinguish between a card that is marketed toward people with damaged or limited credit and a card that actually guarantees approval. A legitimate issuer cannot promise approval without considering the applicant's circumstances.

How to Find a Card You May Qualify For

If you need a second chance card without a deposit, look for an unsecured card that allows you to check for an offer before completing a full application.

1. Look for unsecured cards. These do not require you to provide a security deposit.
2. Check for prequalification. When available, this can give you an indication of whether you may qualify before submitting a full application.
3. Compare the offer. Look at the starting credit limit, annual fee, and other account terms before accepting a card.

Second Chance Cards to Consider

The FIT^™ Platinum Mastercard^® is an unsecured card that does not require a security deposit. However, the card does come with a one-time fee of $95 before the account is open.

Other unsecured cards are specifically marketed toward consumers rebuilding their credit. Indigo^® Mastercard^® for Less than Perfect Credit and Destiny Mastercard^® are examples of issuers offering cards aimed at this market.

What to Watch for Before Applying

A card being available to people with bad credit does not necessarily make it a good fit for everyone. Before applying, check the credit limit, fees, whether the card reports to the major credit bureaus, and whether the issuer offers opportunities for future credit-line increases.

Most importantly, don't confuse easy to qualify for with guaranteed approval. Those are two very different things.

Bottom Line

If you're searching for second chance credit cards with guaranteed approval and no deposit, focus on unsecured cards that are designed for people rebuilding their credit. While guaranteed approval isn't something a legitimate issuer can promise to everyone, you can use prequalification and available card offers to find out what options may be available to you.