$1000 Limit Easy Credit Cards for Bad Credit

Secured credit cards require a security deposit for approval which sets the credit limit of the card. The deposit helps lower the risk of lending which allows easy approval, even with bad credit. The deposited amount is refundable upon closing the account in good standing or getting a card upgrade.

Since the amount you can spend is equal to the deposit you make, you can have a credit limit of $1,000 or above by opting for secured credit cards. Many of these cards also allow you to further increase your credit line by making additional deposits after your application has been approved.

The list of secured credit cards below all have a credit limit of $1,000 or above and are easy to get approved for with bad credit.

Lender	Scholaroo rating	Regular APR	Credit Score
Applied Bank® Secured Visa® Gold Preferred® Best for low interest rates Visit website	4.9/5	9.99%	N/A
Chime® Credit Builder Visa® Credit Card Best for no fees and no interest Visit website	4.9/5	0%	N/A
Savings Secured Platinum Rewards Best for travel Visit website	4.6/5	17.24%	N/A
Discover It® Secured Best for a welcome offer Visit website	4.5/5	28.24%	N/A
OpenSky® Secured Visa® Best for borrowers without a bank account Visit website	4.4/5	22.39%	N/A
Bank of America® Customized Cash Rewards Secured Great secured card with cash back rewards Visit website	4.2/5	28.24%	N/A
First Progress Platinum Elite Mastercard® Best for approval within minutes Visit website	4.2/5	25.24%	N/A

Lender

Applied Bank® Secured Visa® Gold Preferred®

Best for low interest rates

Scholaroo rating

4.9/5

Regular APR

9.99%

Credit Score

N/A

Visit website

Lender

Chime® Credit Builder Visa® Credit Card

Best for no fees and no interest

Scholaroo rating

4.9/5

Regular APR

0%

Credit Score

N/A

Visit website

Lender

Savings Secured Platinum Rewards

Best for travel

Scholaroo rating

4.6/5

Regular APR

17.24%

Credit Score

N/A

Visit website

Lender

Discover It® Secured

Best for a welcome offer

Scholaroo rating

4.5/5

Regular APR

28.24%

Credit Score

N/A

Visit website

Lender

OpenSky® Secured Visa®

Best for borrowers without a bank account

Scholaroo rating

4.4/5

Regular APR

22.39%

Credit Score

N/A

Visit website

Lender

Bank of America® Customized Cash Rewards Secured

Great secured card with cash back rewards

Scholaroo rating

4.2/5

Regular APR

28.24%

Credit Score

N/A

Visit website

Lender

First Progress Platinum Elite Mastercard®

Best for approval within minutes

Scholaroo rating

4.2/5

Regular APR

25.24%

Credit Score

N/A

Visit website

Unsecured credit card approval generally depends on the credit score of the applicant.

There are a few unsecured card options available to people with bad credit but they have a low initial credit limit that usually starts from $250 and goes up to a maximum of $500 for beginners. Moreover, if there are any initial fees associated with the card, like annual fees or a signup fee, they will be automatically deducted from the available credit on your card upon activation. This will reduce your spending limit even further.

Some cards like Surge® Platinum Mastercard®, do offer an initial credit line between $300 to $1,000 but that depends on how good your score is. The better your credit score is, the higher the chances of getting a higher initial limit.

Following are the options for the best unsecured credit cards with easy approval and better credit limits.

Lender	Scholaroo rating	Regular APR	Credit Score
Surge® Platinum Mastercard® Best for an unsecured Mastercard Visit website	4.0/5	29.99%	300+
Reflex® Platinum Mastercard® Best for borrowers with no security deposit Visit website	4.0/5	29.99%	300+

Lender

Surge® Platinum Mastercard®

Best for an unsecured Mastercard

Scholaroo rating

4.0/5

Regular APR

29.99%

Credit Score

300+

Visit website

Lender

Reflex® Platinum Mastercard®

Best for borrowers with no security deposit

Scholaroo rating

4.0/5

Regular APR

29.99%

Credit Score

300+

Visit website

When you pay for goods or services there is no difference between secured and unsecured credit cards. However, the application process is different, and so are the terms.

Secured Credit Cards features

• Requires a security deposit as collateral, which is generally refundable on closing the account or getting an upgrade
• Credit limit is usually equal to the amount of the security deposit.
• No credit check required
• Primarily designed for people with limited or poor credit histories.
• Helps build or rebuild credit when used responsibly and payments are made on time.
• After establishing a good credit history, some card issuers may offer to upgrade the cardholder to an unsecured credit card and return the security deposit.
• Lower costs compared to unsecured credit cards
• Allows limits equal to or higher than $1,000 even with bad credit.

Unsecured Credit Cards features

• No collateral or security deposit is required.
• Credit check is required
• Credit limit is determined based on creditworthiness and other financial factors like income, and repayment history.
• Generally available to individuals with a fair to excellent credit score.
• Building and maintaining a good credit history is crucial to qualify for higher credit limits and better terms.
• More common
• Lower initial credit limits with bad credit which generally go up to a maximum of $500.

Secured credit cards can give you a $1,000 or above credit limit even with bad credit. You will be required to pay for a security deposit and meet the basic eligibility criteria to get approved. The eligibility criteria usually require the applicant to be at least 18 years old, have a Social Security number or an eligible alternate, and have a U.S. address.

If you want to get an unsecured card, you will most likely need to go through a credit check. If you have bad credit, you will need to look for a card that allows approval with a poor score and then apply for it online.

The following are the main steps to apply for a credit card:

• Find out your credit score: Through your credit report, you will get an idea of your history and the level of your credit score. This will help you when comparing card companies as different ones may have different credit requirements.
• Get pre-approval: Get a qualification check with the credit card companies you are considering. This will help you get an idea of the rates you can get and you will be able to compare them better.
• Compare credit cards: Compare all the credit cards that you are able to qualify for. If you have bad credit, you will have higher chances of approval for cards that do not have a credit check or a minimum credit requirement like secured credit cards and student cards. You should look at interest rates, fee types, and rewards and compare other benefits of the cards to find the best one.
• Collect the required documents and information: The eligibility requirements vary from one company to another. Generally, most credit card companies will ask you for general information about yourself like your name, address, phone number, employment, and income information. You will most likely be required to submit an eligible proof of identification that will help verify your name and age. Credit card companies also require the individual to have a U.S. address and they may also ask for proof related to that. Moreover, an SSN, ITIN, or passport may be required to apply and get approved.
• Submit an online application: Once you have chosen a card, you can apply for it online through the company’s website. Many companies encourage applicants to apply online as it takes less time to get approval that way. If you meet all the eligibility requirements and the information provided is verifiable, you may be able to get a decision within minutes of submitting the application. However, the actual card may take a few days to reach you by mail.
• Receive your card: After approval, it may take up to 10 business days for the card to arrive in the mail. Some credit card companies issue the credit card number right after approval through email or their mobile apps which allows instant use online and through digital wallets even before you get the actual card in hand.

When looking for guaranteed approval credit cards with $1,000 limits for bad credit you’ll find the easiest cards to get approved for are secured credit cards. Chime® Credit Builder Visa® Credit Card is one of the best secured credit cards which charges no annual fee and has 0% interest rates on purchases.

The approval for secured cards is not based on credit and they do not require a minimum credit score or any kind of credit check. The card issuer takes a security deposit which reduces the risk of issuing the card to those who have bad credit. This is because, in case of a missed payment, the credit card company simply deducts the amount from your security deposit. However, late payments affect your credit history negatively and are best avoided.

Your security deposit will also set your credit limit. Most secured credit cards have a maximum security deposit limit of around $2,500 which is the maximum credit line you can have for those cards too. A few cards do allow a higher limit too like the OpenSky® Secured Visa® Credit Card has a $3,000 limit with bad credit. Some may even allow you to go up to $5,000, like the Bank of America® Customized Cash Rewards Secured and the Applied Bank® Secured Visa® Gold Preferred® credit cards.

Usually, most no-deposit cards require the credit score to be at least at the fair level for approval. A FICO score between 580 and 669 is categorized as ‘fair’ credit and may get you approved for an unsecured credit card. However, with such a score, you will have to pay much higher interest rates which may be around  24% or above. Moreover, companies that approve applicants with poor or fair credit scores may charge higher annual fees and offer fewer rewards.

Applicants having around 700 FICO scores or above can access pretty much any credit card including elite cards. They can enjoy much lower interest rates, high rewards, and lower fees.

There are options for cards that offer rewards to people with below-average credit or no credit. Discover it® Secured Credit Card, Bank of America® Customized Cash Rewards Secured Credit Card, and Savings Secured Platinum Rewards Credit Card are three examples of such cards. These cards generally do not require a credit history for approval and their decision depends on paying the minimum deposit and showing proof of sufficient income to make repayments.

Some of the rewards on using these cards include cashback rewards on spending, welcome bonuses, and point rewards that you can redeem in multiple ways like for travel, as gift cards, and also as cash back.

Both an unsecured credit card and a secured credit card issuer will provide monthly reports on your payment and balance history to at least one major credit reporting bureau. In most cases, these reports are sent to all three major bureaus: TransUnion, Equifax, and Experian.

If you consistently make timely payments and keep a low balance, these positive reports will improve your credit score and contribute to building a favorable credit history. But similarly, if you have late payments or carry a high balance, your credit score will be negatively impacted.

Maintaining a low credit card balance is essential to maintaining a low credit utilization rate. You can determine your credit utilization rate by dividing your credit card balance by your total credit limit. E.g. if you have a credit card with a $2,000 limit and a $1,000 balance, your utilization rate would be 50%, indicating that you are using 50% of your available credit.

A lower utilization rate translates to a better credit score. You can easily improve your credit score by several points by keeping a low (or no) balance on your credit card accounts and ensuring that your credit utilization stays below 30%.