Credit Cards To Apply For With No Credit

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Credit Cards To Apply For With No Credit

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Getting credit cards can be difficult if you have limited or poor credit. The classic catch-22 is that you need good credit to get a credit score, but you need credit scores to get good credit.

One way to avoid this pitfall is to open credit cards that do not require a credit check at the time of application. They are less common, but you should be able to find one that suits your needs.

Based on this research, here are our top picks for the best credit cards without a credit check:

⚠️ These cards don’t require a credit check, but that doesn’t mean you’re guaranteed to get them. Some have alternative eligibility requirements, and card issuers may reject your application if you don’t meet them.

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Instead of checking your credit score, Tomo uses your financial history to write your application by reviewing your bank and investment account activity. If you have good cash flow, an emergency fund, and an investment portfolio, you should be able to get a card with no fees or rewards.

Plus, Tom’s credit card is unsecured, meaning you don’t have to pay a deposit when you sign up. There aren’t many unsecured credit cards without a credit check.

Credit cards without a credit check usually require a deposit. Since the service provider cannot check your credit, it is advisable to ask for another collateral. Unfortunately, this deposit usually requires a checking account. As a result, the unbanked with poor credit struggle to get credit cards.

OpenSky is one of the few credit card issuers that does not require a bank account when applying. His card is secure, but you can pay by Western Union transfer, check or money order.

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Most secured credit cards require a one-time deposit equal to the account’s credit limit. It’s refundable, but you won’t see it until you upgrade to a non-secure line or close your card.

A secured credit card requires a deposit at the beginning of each month, unlike a cash-out credit card. This changes your period credit limit and automatically pays off your balance at the end. But you can make a monthly contribution and there’s no minimum, so it’s more flexible than traditional secured cards.

If you want a traditional secured card, GO2bank offers a great card with no credit check. To get the card, you need to have a bank account with the provider and direct deposit, but its terms are more favorable than OpenSky.

Not only is there no annual fee, but you can also earn nice cashback bonuses. Also, the minimum deposit is much lower than average. You can open a card up to $100.

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A stand-alone product offering is a loan to a credit builder. This is an installment loan, secured by your income, which you will receive after paying the bill. It does not require a credit check and is a great way to improve your payment history with an installment loan.

If you’re interested in building a diverse mix of credits, Self is a good choice. You can automatically open a secured card after you maintain a good checking account and pay at least $100 in principal for three months.

Tom’s credit card is one of the cheapest credit cards you can get without a credit check. No annual fees or interest charges and a great rewards program for a bad credit card.

You get discounts and perks on Doordash, ShopRunner and Lyft. Best of all, the account does not require a deposit, which is rarely the case with credit cards without a credit check.

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By the way, Tomo has some noticeable flaws. First, there is no interest because the card will not allow you to carry a balance for more than one week. Every Monday, it automatically debits your bank account to cover your current balance, regardless of the charges you incur.

If you want to use your credit card to defer payments, this can be a serious problem and Tom’s credit card may not be the best choice. If your primary goal is to build credit, these weekly payments may be ideal because they will reduce your credit utilization.

In addition, Tomo uses an alternative risk-taking approach that involves reviewing your bank and investment account activity. Therefore, even if Tomo does not check your credit, you will still not be eligible for an account.

Finally, the company regularly receives complaints from former applicants and cardholders. Users report problems and issues with little help from the customer support team. Tomo is a relatively new company and they may be able to fix these issues, but you should be aware of them.

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Unfortunately, there are very few unsecured credit cards that you can get without a credit check. If you are not willing to compromise on these two factors, you will have to make other sacrifices and take risks.

Apart from the absence of a credit check, the main appeal of the OpenSky secure account is that it does not require a bank account. You can qualify without a card and pay the deposit by money order, check or Western Union.

This is especially helpful for the 6% of Americans who are unbanked, especially since solving this problem is not always easy. Unpaid overdraft fees, bounced checks and bank account closures can ruin your bank history, making it difficult to adjust to new accounts.

Otherwise, the OpenSky Secure card is a regular starter card. There is an annual fee of $35 and you will not receive any cash bonus for your purchases. It also requires a traditional deposit starting at $200.

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The APR is relatively low at 25.64% (variable) compared to other accounts on this list, but it’s still high enough to be affordable. Carrying a balance on even the cheapest credit cards is a losing strategy.

Unfortunately, reviews show that credit card company customer service can leave a lot to be desired. Obviously, the phone line is often unavailable and representatives are not always as helpful as they could be.

The unique draw of the Cham Credit Builder card is the revolving collateral system. Instead of requiring a large one-time payment that isn’t available for several months, you make a new deposit each month.

The amount changes up to the credit limit for the term, and the funds you provide are transferred to your balance at the end of each month. Luckily, there’s no minimum, so you can opt out entirely if you’re short on cash.

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An interesting result of this system is that the call does not affect your credit utilization rate because there is no set credit limit. You don’t have to worry about ruining your account after building up a balance.

Otherwise, the business card terms are pretty average. There are no annual fees or interest because you can’t transfer your balance, but you won’t get cashback rewards.

There are no alternative ways to write a credit check, but you will need a Chime bank account to sign up. The provider will not accept your monthly deposits from any other account.

Fortunately, Chime generally receives positive reviews from customers. Reviews show that the card is efficient at accumulating credit, the mobile app is easy to use, and customer service is responsive.

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GO2bank offers a traditional secured credit card without a credit check. To qualify, you must pay a deposit in advance, but you must set the amount and credit limit. The minimum is only $100, which is lower than average.

Also, you must have a GO2bank account with at least $100 in direct deposits in the last 30 days to be eligible. The provider requires you to pay a deposit by transferring funds from your GO2bank checking account.

The GO2bank Secured Card, like most credit cards without a credit check, is very simple. There’s no annual fee, but the APR is high and you won’t get any cash back rewards.

The most glaring disadvantage is that the reviews indicate that there may be problems with the account and it is difficult to get enough support. Previous customers report that the support team often faces a language barrier. However, most complaints are about prepaid debit cards, not company-secured cards.

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A Self Visa credit card is a great way to build the foundation of your credit mix. To get an account, you must first open a self-credit originator loan.

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