$2,000 Limit Credit Cards with Guaranteed Approval
Unsecured credit cards generally approve lower credit limits for bad credit. However, there are other credit cards with $2,000 limit that offer guaranteed approval with a security deposit regardless of credit scores and history.
Table of Contents
- Best Credit Cards with $2,000 Limit and Guaranteed Approval
- Discover it® Secured Credit Card
- First Progress Platinum Select Mastercard® Secured Credit Card
- OpenSky® Secured Visa® Credit Card
- First Progress Platinum Prestige Mastercard® Secured Credit Card
- Chime Credit Builder Secured Visa® Credit Card
- Applied Bank® Secured Visa®
- PREMIER Bankcard® Secured Credit Card
- Easiest Unsecured Cards to Get with $2,000 Limit and Bad Credit
- Easiest Types of Cards for Bad Credit
- How Can I Get a Credit Limit Increase?
- Is a 2k Credit Limit Good?
- How Much Should I Spend on a $2000 Credit Limit?
- Increase Approval Odds
- FAQs
Being able to get a $2,000 limit credit card with bad credit is quite good. This is because most banks approve a maximum credit limit of $500 for applicants who have bad credit. However, there are credit cards that you can get approved for easily with a $2,000 limit right away, like the Discover it® Secured Credit Card.
Secured credit cards are the easiest and the only type of cards that allow guaranteed approval even with bad credit. This is because an applicant’s approval for a secured card mostly depends on paying the one-time minimum security deposit and meeting the age and residency requirements. The amount of security deposit you pay sets the credit limit on these cards. So, to get a credit line of $2,000 you will have to deposit an amount equal to that.
There are few options for no-deposit credit cards that approve applicants for a similar limit with poor credit scores too but they usually start off with lower limits of a maximum of $1,000. After at least 6 months of using them responsibly, you may become eligible for a credit line increase allowing you to double the amount you can borrow.
We have listed the best credit cards with a $2,000 limit and guaranteed approval for you to compare and choose from. These cards will not only allow you the desired credit limit but will also give you a chance to improve your credit score and access credit cards with much higher spending limits in the future.
Best Credit Cards with $2,000 Limit and Guaranteed Approval
Lender | Scholaroo rating | Regular APR | Minimum Credit Score |
---|---|---|---|
Discover It® Secured Credit Card Best for cash back rewards Visit website | 28.24% | N/A | |
First Progress Platinum Select Mastercard® Secured Credit Card Best for worldwide acceptance Visit website | 19.24% | N/A | |
OpenSky® Secured Visa® Credit Card Best for no bank account Visit website | 25.64% | N/A | |
First Progress Platinum Prestige Mastercard® Secured Credit Card Best for simple rewards Visit website | 15.24% | N/A | |
Chime Credit Builder Secured Visa® Credit Card Best for no interest Visit website | 0% | N/A | |
Applied Bank® Secured Visa® Best for no credit check Visit website | 9.99% | N/A | |
PREMIER Bankcard® Secured Credit Card Best for a high limit Visit website | 19.9% | N/A |
Discover It® Secured Credit Card
Best for cash back rewards
First Progress Platinum Select Mastercard® Secured Credit Card
Best for worldwide acceptance
OpenSky® Secured Visa® Credit Card
Best for no bank account
First Progress Platinum Prestige Mastercard® Secured Credit Card
Best for simple rewards
Chime Credit Builder Secured Visa® Credit Card
Best for no interest
Applied Bank® Secured Visa®
Best for no credit check
PREMIER Bankcard® Secured Credit Card
Best for a high limit
1. Discover it® Secured Credit Card
2. First Progress Platinum Select Mastercard® Secured Credit Card
3. OpenSky® Secured Visa® Credit Card
4. First Progress Platinum Prestige Mastercard® Secured Credit Card
5. Chime Credit Builder Secured Visa® Credit Card
6. Applied Bank® Secured Visa®
7. PREMIER Bankcard® Secured Credit Card
Easiest Unsecured Cards to Get with $2,000 Limit and Bad Credit
Lender | Scholaroo rating | Regular APR | Minimum Credit Score |
---|---|---|---|
Petal 1 Rise Credit Card Best for no security deposit Visit website | 28.49% – 35.74% | 300+ | |
Surge® Platinum Mastercard® Best for choosing your own card design Visit website | 29.99% | 300+ | |
Reflex® Platinum Mastercard® Best for an instant decision Visit website | 29.99% | 300+ |
Petal 1 Rise Credit Card
Best for no security deposit
Surge® Platinum Mastercard®
Best for choosing your own card design
Reflex® Platinum Mastercard®
Best for an instant decision
1. Petal 1 Rise Credit Card
2. Surge® Platinum Mastercard®
3. Reflex® Platinum Mastercard®
What Is The Easiest Card to Get Approved with Bad Credit?
There are various types of cards but not all of them are easy to get with bad or no credit. The easiest type to opt for with bad credit is secured credit cards due to no credit checks or minimum credit requirements.
Following are all the major types of credit cards people can access even with bad credit.
- Secured Credit Cards: Secured credit cards charge a security deposit upfront which also sets the credit limit on the card. There is no minimum credit requirement of any type as the security deposit made acts as collateral. Most secured credit cards do not even carry out a hard inquiry. They have very basic eligibility requirements and are the easiest cards to get approved for with bad credit and a credit limit of choice.
- Student Credit Cards: Individuals who are students can also opt for student credit cards if they have a below-average credit score. These cards are exclusively for students and are quite flexible in terms of their credit and income requirements. Student credit cards also come with various high rewards like cash back and bonus offers which students can benefit from. However, student credit cards generally have lower credit limits with a maximum of $1,000.
- Unsecured Credit Cards for Bad Credit: Most unsecured credit cards require a credit score of at least 690 for approval. Nevertheless, there are a few banks and companies that also cater to people who have bad credit. These cards are easier to get than other unsecured cards but they are quite expensive as they generally come with high fees and APR rates. Moreover, these cards start with a lower credit limit which may be increased after a few months of responsibly using the card.
- Prepaid Cards: These types of cards are also easily accessible with bad credit; however, they do not help you build credit as there is no borrowing involved. These are more like debit cards where you can only spend what you deposit monthly on your card.
How Can I Get a Credit Limit Increase?
There are various ways to increase your credit limit. Some ways can help you get access to higher credit immediately while others may take some time. Following are some things you can do to get a credit limit increase:
- Pay additional deposits: Since the limit on secured cards is equal to how much you deposit, you can make additional deposits to increase your credit limit if it is below the maximum. Some secured credit cards allow you the go beyond the initial maximum limit after the application is approved.
- Ask the issuer to increase the limit: You can increase the credit limit on your no-deposit cards via the bank’s app or an online account. You can also call the customer service for it. However, in both cases, the bank may ask you for financial proof that can show them that you can afford a higher credit line.
- Get an additional credit card: To access more credit you can always apply for another credit card. So if your current credit limit is $1000, you can get another card with the same limit to access a total credit limit of $2,000. Secured cards can be a good option for this purpose as they are easy to get approved for a particular limit.
- Become an authorized user: You can also become an authorized user on someone else’s card. By doing so, you will have access to the limit they have on their card too along with the limit on your personal credit card.
- Improve your credit score: This is more of a long-term way to increase your credit limit and requires patience. Credit limits on unsecured cards are generally determined by the applicant’s credit score and income. Therefore, applicants with bad credit are unable to access higher credit limits. Such individuals can apply for credit builder cards for bad credit and use their card responsibly for at least 6 months before they can become eligible for an upgrade. You will have to make on-time payments and keep a low balance on your card to see an improvement in your credit score.
Is a 2k Credit Limit Good?
For bad credit, being able to get a credit line of $2,000 is good. This is because most cards only give a maximum of $500 limit to applicants who have bad credit and they only allow you to increase it after some time with improved credit and higher income. Moreover, many people are unable to cover even an expense of $1,000 in case of an emergency, making a limit of $2,000 seem reasonable.
Also, higher limits can make people go into debt. This is because sometimes when people have much higher limits, they may end up spending more than they can pay for and end up in debt. It can also result in late payments which will incur penalty charges. This hurts the credit score and history which can limit future financial opportunities.
How Much Should I Spend on a $2000 Credit Limit?
People with high balances are seen as risky individuals by lenders which may make it hard to get approved for various financial products. High balances can also hurt your credit score and may be harder to pay back on time leading to late payments and associated penalties.
Therefore, it is best to keep your balances low and maintain a credit utilization rate of 30% or lower of the maximum limit available to you. So, for a $2,000 monthly credit limit, it would be best to spend a maximum of $600 each month.
How To Increase the Approval Odds?
There are ways to help increase the approval chances for credit cards.
- Pay a security deposit: To increase the chance of approval, it is best to opt for a secured card. You can pay an amount equal to the desired credit limit to get approved. Most secure cards do not even require a credit score or check which makes them easiest to get. However, most issuers also require proof of sufficient income along with the deposit to accept higher limits.
- Sufficient proof of income: The approval odds are improved to a great extent if the applicant is able to provide proof of income that would be sufficient to make the monthly payments. If you are a student, you can even show financial aid that you have received or the monthly allowance from your parents as proof of income.
- Become an authorized user before the age of majority: Generally, you cannot get a credit card in your own name before the age of 18. However, you can become an authorized user on someone else’s card. This can help younger teens build a credit history early on which can help them get approved more easily for a credit card individually when they are eligible.
- Add to your credit mix to help build credit quicker: Applicants with higher credit scores generally get approved easily and with better credit limits. Credit card issuers consider 670 and above as good credit. If you pay rent or have a student loan, you can add that to your credit mix and report the on-time monthly payments to build up your score quickly.
FAQs
Can I get a credit card with a $2000 limit?
Yes, there are various cards with a $2,000 credit limit. A few good options include OpenSky® Secured Visa® Credit Card, First Progress Platinum Select Mastercard® Secured Credit Card, and Discover it® Secured Credit Card.
How to get a credit card with higher limits?
Higher limits generally require a credit score of at least 690 for approval. If you have a score below that or have no history at all, you can consider secured credit cards with higher limits. You will be required to pay the security deposit equal to the amount of the credit limit you require for approval.
What is the easiest credit card to get?
The easiest card to get is Discover it® Secured Credit Card. It comes with various rewards and benefits without an annual fee and requires no minimum credit for approval.
What credit card can I get with bad credit and no deposit?
Petal 1 Rise Credit Card is the easiest unsecured card to get. Petal 1 Rise Credit Card is specifically for people who want to build or rebuild their credit score and it requires no deposit for approval. Anyone can apply for the card regardless of their credit score and cardholders earn 2% to 10% cash back at select local and national merchants.