1000 Dollar Guaranteed Approval Unsecured Credit Cards For Bad Credit
If you have bad credit, it can be challenging to find a credit card that you can qualify for. However, there are options available, like guaranteed approval unsecured credit cards. These credit cards are designed for people with bad credit and offer a guaranteed approval, which means you're almost certain to get approved.
What Are Guaranteed Approval Unsecured Credit Cards?
A guaranteed approval unsecured credit card is a type of credit card designed for people with bad credit or no credit history. Unlike secured credit cards, which require a deposit as collateral, unsecured credit cards don't require any deposit or collateral.
Guaranteed approval means that the credit card company will approve your application, regardless of your credit score or credit history. However, there are usually some requirements that you have to meet, such as having a steady income or a bank account.
How Do Guaranteed Approval Unsecured Credit Cards Work?
Guaranteed approval unsecured credit cards work like any other credit card. You can use them to make purchases, pay bills, or withdraw cash from ATMs. You'll be required to make payments on time and pay interest on any outstanding balance.
Some guaranteed approval unsecured credit cards come with high-interest rates and fees, so it's essential to read the terms and conditions carefully before applying. Look for credit cards with reasonable interest rates, low fees, and rewards programs that can help you build your credit score.
Benefits of Guaranteed Approval Unsecured Credit Cards
One of the biggest benefits of guaranteed approval unsecured credit cards is that they can help you rebuild your credit score. By using your credit card responsibly, making payments on time, and keeping your balances low, you can improve your credit score over time.
Guaranteed approval unsecured credit cards can also help you in emergencies when you need cash or need to pay for unexpected expenses. They can also be used to make online purchases, which can be a convenient way to shop.
Drawbacks of Guaranteed Approval Unsecured Credit Cards
One of the biggest drawbacks of guaranteed approval unsecured credit cards is that they come with high-interest rates and fees. If you don't pay your balance in full every month, you could end up paying more in interest and fees than the original purchase price.
Another drawback is that some guaranteed approval unsecured credit cards come with low credit limits, which can limit your purchasing power. You may also be required to pay an annual fee or a monthly maintenance fee, which can add up over time.
How to Apply for Guaranteed Approval Unsecured Credit Cards
Applying for a guaranteed approval unsecured credit card is easy. You can apply online, by phone, or by mail. You'll need to provide some basic information, such as your name, address, social security number, and income.
Most credit card companies will do a soft credit check when you apply, which won't hurt your credit score. However, if you're approved, they'll do a hard credit check, which can temporarily lower your credit score.
Top Guaranteed Approval Unsecured Credit Cards for Bad Credit
Here are some of the top guaranteed approval unsecured credit cards for bad credit:
1. Capital One Platinum Credit Card
The Capital One Platinum Credit Card is designed for people with average credit or limited credit history. It comes with no annual fee, and you can get access to a higher credit line after making your first five monthly payments on time.
2. OpenSky Secured Visa Credit Card
The OpenSky Secured Visa Credit Card is designed for people with bad credit or no credit history. It comes with a low annual fee and a low APR. You'll be required to make a deposit as collateral, but you can get a credit line up to $3,000.
3. Credit One Bank Platinum Visa for Rebuilding Credit
The Credit One Bank Platinum Visa for Rebuilding Credit is designed for people with bad credit or no credit history. It comes with no annual fee and cashback rewards on eligible purchases. You can also get access to your Experian credit score for free.
Conclusion
Guaranteed approval unsecured credit cards can be a great option for people with bad credit who need to rebuild their credit score. However, it's essential to read the terms and conditions carefully and use your credit card responsibly. Look for credit cards with reasonable interest rates, low fees, and rewards programs that can help you build your credit score.