Getting guaranteed approval for credit cards with $1000 limits for bad credit with no deposit is almost impossible. To obtain the best credit card with $1000 limit for bad credit requires you to consider getting secured cards.
They offer the best chance of acceptance; they often extend credit lines up to and above $1000. Although, the amount of credit you are eligible to receive matches the security deposit you make.
We have done comprehensive research in a quest to answer your questions and satisfy your curiosity.
Ride on to find out more about how to get guaranteed approval credit cards with $1000 limits for bad credit with no deposit.
You can also read: 10 Best High Limit Credit Cards Of 2022
Best Credit Card With $1000 Limit For Bad Credit
To get guaranteed approval credit cards with $1000 limits for bad credit with no deposit, the beswon’tion for starters is not the unsecured credit card; it won’t allow you to choose your credit limit.
According to financejar.com, below is an outline of the best credit card with a $1000 Limit for bad credit:
#1. Sable ONE Secured Credit Card
First on our list of guaranteed approval credit cards with $1000 limits for bad credit with no deposit is the Sable ONE secured credit card. They are exceptional regarding credit limits, fees, and rewards.
Below are some of its exceptional features:
- No annual fee
- 2% cash back on Amazon, Spotify, Netflix, Uber, and other select brands
- 1% cash back on everything else
- Cashback matches the first year
- Credit limits as high as $10,000
- No credit check is needed to apply
- 98% approval odds
- Path to graduate with an unsecured credit card in 4 months
To apply for a Sable, you do not need a credit check to use. This implies that even borrowers with bad credit and negative marks on their credit history can easily be granted qualifications for a card.
As a secured card, it requires a security deposit that will determine your credit limit. However, you can set this limit as high as $10,000.
|Low APR||Must have a Sable bank account|
|2% cashback rewards||Security deposit required|
|Welcome bonus 2x cash back||Cash advances are not available|
|Credit limit up to $10,000||Balance transfers are not available|
|High approval odds|
#2. OpenSky Secured Visa Credit Card
The OpenSky is a secured credit card with guayou’red approval and a potential credit limit of $1,000.
Although they require a security deposit, you can make a deposit as high as $3,000. If you’re willing to pay $3,000 upfront, you can have a $3,000 line of credit in your wallet.
The good news is that this credit card does not rcan’te a credit check.
|Helps build credit||Requires a security deposit|
|Low APR||Charges an annual fee|
|No checking account required||You can’t upgrade to an unsecured card|
|High approval odds||No rewards|
#3. Prosper Card
Prosper Card is an excellent choice if you need an unsecured credit card with guaranteed approval. It offers initial credit limits of $500–$3,000.
Better yet, you can dwon’t that credit limit in a short while, as fast as 3 months, meaning you could have a credit limit of $6,000 on the Prosper Card.
Although you won’t need to pay a security deposit, the Prosper Card does come with fees to consider. However, there is a fee of $39 on an annual basis.
Applying for the Prosper Card is fast and easy, implying that you can have thousands of dollars in available funds in no time with this card.
|No deposit required||High APR|
|No cash advance fees||$39 annual fee|
|Quick Application||No rewards|
|Credit limit increases available after 3 months||No welcome bonus or intro offers|
|Foreign transactions are available||Balance transfers are not available|
#4. First Progress Platinum Prestige Mastercard Secured Credit Card
One of the first three Progress secured credit cards is the First Progress Platinum Prestige Mastercard Secured. First Progress Platinum Prestige Mastercard is a near-guaranteed approval card.
You can still qualify even if you have negative marks on your borrowing history. There are many things about the First Progress Platinum Prestige Mastercard to look out for, including:
- Credit limits between $200–$2,000
- No credit check needed to qualify
- Low APR
- Credit reporting to the three major credit bureaus
|Low APR||$49 annual fee|
|No credit inquiry required||Requires a security deposit|
|The securitycan’tsit is refundable||Requires a Synovus bank account|
|A discharged bankruptcy in your credit report will not cause you to be declined.||The card can’t be upgraded to an unsecured card.|
You can also read: 15 Best Metal Credit Cards In 2022
#5. Citi Secure Mastercard
Citi Secured Mastercard has high approval odds and a flexible credit limit of up $2,500. The credit limit is equivalent to the security deposit you pay.
This implies that you can get a $200–$2,500 line of credit if you’re willing to put down a massive security deposit.
Although you’ll need to pay money upfront for the card, the cost is low.
They do not charge an annual fee, monthly due.
However, Citibank reports your borrowing activities to the three major credit bureaus, allowing you to build credit across the board.
Comprehensive credit reporting is vital if you’re trying to build or rebuild your credit. The bureaus update your credit report with the information they give.
|Available to limited credit borrowers||High APR|
|$0 annual fee||Requires a security deposit|
|Reports to all three credit bureaus||No rewards|
#6. Horizon Secured Credit Card
The Horizon is a Secured credit card for bad credit with no deposit and up to a $5,000 credit limit. This card has a limit of $300 to $5,000.
The Horizon Secured card reports to all three major credit bureaus, making it a sound card for building a positive credit history.
They do not charge an annual fee, making it a low-cost and potentially high-returns card.
|No annual fee||Security deposit required|
|Balance transfers available||High APR|
|Foreign transactions available||No rewards|
|Cash advances available||No welcome bonuses or intro offers|
|They report to all thredoesn’tt bureaus|
#7. Petal 1 Visa Card
The Petal Visa credit card and its sister card, the Petal 2, are outstanding. Here are a few of its many positive traits:
- The Petal Visa credit card doesn’t require a security deposit
- It doesn’t charge an annual fee.
- Has high approval odds
- It is available to borrowers without a Social Security number (SSN)
- Offers cashback rewards
- Gives credit limits up to $5,000
These features make it an appealing and accessible borrowing option.
Petal Visa credit card can potentially have a credit limit as high as $5,000.
Non-citizens can significantly benefit from this card, as it doesn’t require an SSN.
Petal 1 Visa also offers an Uber credits program, earning rewards towards Uber trips when you make payment with your Petal 1 credit card.
|No deposit required||Cashback rewards are limited to select merchants|
|$0 annual fee||Balance transfers and cash advances not available|
No foreign transaction fees
|Up to 10% cashback rewards||No introductory offers|
Available to people w”th no credit “core
#8. Total Visa Credit Card
The Total Visa credit card offers incredibly high approval odds and instant approval for most applicants.
It’s an unsecured credit card, so it doesn’t require any security deposit.
The application process is easy and requires basic information like your name, email address, phone number, DOB, SSN, monthly income, estimated monthly expenses, etc.
If the bank has trouble verifying any of the information above, it may take a few days to process your application. After approval, they start with an initial credit limit of $300.
|No deposit required||High APR|
|Reports to three credit bureaus||Program fee|
|Potential credit limit increase||Annual fee|
|Easy application||Monthly sesomeone’see|
|Instant approval||High penalty fees|
#9. Discover It Secured Credit Card
Discover it offers an exceptional deal of a $1,000 credit limit and cashback rewards. They have high approval odds, a deposit and corresponding credit limit between $200–$2,500, and a generous rewards program.
You won’t be charged annual or foreign transaction fees with Discover it Secured credit card. They also report your activity to the credit bureaus and give free monthly FICO scores.
|No anyou’reee||High annual percentage rate (APR)|
2% cash back on gas station and restaurants
|Maximum deposit of $2500|
1% cash back on all other purchases
|Rewards rates cap out at $1000 per quarter|
|Dollar-for-dollar cashback match after 12 months||High penalty fees|
Free monthly access to FICO score
How To Get Credit Cards With No Deposit
If you are considering getting a credit card with no deposit, you should search for a credit card that doesn’t require one. It is an added advantage to consider looking at cards that align with your credit score range.
Here are steps you can take to get a credit card without a deposit:
Check if you are pre-approved for a card.
Try “pre-qualified” or “pre-approved” credit card offers that you receive. This can be gotten from the online space or your mail.
However, if you often see one of those terms, it usually signifies that at least your credit score and other financial data meet some of the basic requirements of being a cardholder.
Apply for a student credit card
College students who have never used credit are eligible for student credit cards. Notwithstanding, you may not have to be a student to get one.
Student credit cards are like traditional credit cards. You can use it in person and also online. The benefits vary in terms of the issuer. Ensure to check offers and see if they fit your choice.
One good thing about student cards is, It’s possible that if you are consistent in building a solid credit history, your lender may consider increasing your credit limit.
Use someone’s account and become an authorized user.
When you become an authorized user on someone’s account, you gain access to use their account. Sometimes, you may even get your card to make purchases. The primary cardholder makes payments on the card.
As long as the person has solid credit, adding them as an authorized user on their credit card accounts is a fantastic idea.
If the credit card company reports the authorized user’s account activity to credit bureaus, having an approved user status on someone else’s account can help you establish your credit history.
If the primary cardholder has a bad credit history or doesn’t pay the card as required by the issuer, it can influence you.
Consider obtaining a secured credit card with a deposit.
Secured credit cards are similar to traditional cards; however, one main difference is; that they may require a deposit that acts as collateral. Traditional cards.
If you’re facing trouble qualifying for other cards, try getting a secured card. Secured cards help you build credit; you can also get a refund of your security deposit. Getting a secured credit card can aid your quest to get an unsecured card.
Work on improving your credit and chances of getting an unsecured card
In your search, you may find that you only qualify for secured cards that require a deposit. If so, you could work on improving your credit before trying again for a no-deposit card.
Although improving your credit can take time. But the guidelines below can help you do that.
- Examine your credit scores regularly.
- Know some ingredients that go into a typical credit score.
- Always scrutinize your credit reports for errors.
- Understand how repeatedly you can check your credit reports.
- Be abreast of standard credit card mistakes to prevent.
- Ensure to make payments on time
- Be keen on keeping your credit card balances low.
- Be careful of quick credit score fixes.
How To Get a Credit Limit Increase?
Your credit score, credit history, income, and financial commitments will all be considered when determining your credit limit when a card issuer authorizes you for a credit card. You may also request a credit increase.
The procedures for requesting a credit line increase are simple as long as your credit score is high. Below are some simple ways to raise your credit score
Check for errors in your credit report
Refinance your credit card debt
Become an authorized user on someone’s account
Get credible points for paying your utility, rent, and other bills on time.
Constantly update your income information with your card issuer if you get a raise. These little actions can have little impact in the short term, but in the long run, they can accumulate to a significant effect.
Do You Need a Bank Account For Credit Card Approval?
You do not need a bank account for credit card approval. Your eligibility for a credit card is determined by the credit card issuers based on your income, employment history, and credit score.
Getting a credit card without a bank account is possible. However, it is advisable to get a bank account as having a bank account makes managing a credit card easier.
As we said earlier, getting guaranteed approval for credit cards with $1000 limits for bad credit with no deposit is almost impossible.
Ensure to keep a positive financial history and improve your credit score.
For a credit card with a $1,000 credit limit, there are two requirements to meet. Find an unsecured card that accepts your present credit score and gives bigger initial credit limits initially. You can try to prequalify for that card or apply for it online to see if you get the credit limit you want.
With a credit score of 500, you can obtain an unsecured credit card. The Credit One Visa card has a $300 starting credit limit, the potential for automatic credit line expansions, and an annual fee of $75 for the first year and $99 thereafter, making it the best unsecured credit card to obtain with a credit score of 500.
Therefore, using a secured credit card with a $3,000 limit is pretty much the only method to get a credit card for people with terrible credit. The credit limit on a secured card often corresponds to the value of the refundable security deposit that the cardholder has made.