Guaranteed Approval Cards for People with Bad Credit

Guaranteed approval credit cards sound great, after all, who can complain about getting a guaranteed credit card when it is becoming so difficult to qualify for any credit card at all? While guaranteed cards do exist, they are not exactly what people think of when they imagine credit cards.

No credit card company is going to give away access to thousands of dollars of credit without looking at the applicant’s credit score, personal information and financial standing. It would be irresponsible for credit card companies to give away thousands of dollars in credit to just anyone, that is part of the reason why the financial crisis of 2008 and the subsequent “Great Recession” occurred. Guaranteed approval “credit cards” for people with bad credit are usually not going to be what you had in mind when envisioning a credit card. When you see deals for guaranteed approval credit cards on the internet they will generally be referring to prepaid debit cards. Prepaid debit cards are similar to normal debit cards except for the fact that they are not linked directly to a bank account, you have to add funds to your prepaid debit card manually.

Prepaid debit cards are nice because you can use them online or in stores just like you can with a normal debit card or credit card. They are also great if you want to restrict how much money you spend somewhere. For example you can go into the grocery store with a prepaid card that has just 50 dollars on it to make sure that you do not go over budget. Or you could take a prepaid debit card on vacation or a trip if you are worried about losing your normal debit or credit card. Prepaid debit cards definitely have their place, but they should not be used in place of a normal debit card because you will generally have to pay up to 100 dollars in fees a year just to use a prepaid debit card.

If you have bad credit a prepaid debit card is an option. You will be guaranteed approval, which is a huge plus. It is tough to get approved for a normal unsecured credit card with bad credit, but it is possible. Here are a few guaranteed approval prepaid debit cards, and a bad credit credit card that you should look into:

1.Account Now Prepaid Visa Card: This is one of the best guaranteed approval, prepaid debit cards you will find. There is no credit check whatsoever, if you apply for this card you get it! There is no monthly fee at all which will save you between 3 and 10 dollars a month. This card really puts most other prepaid debit cards to shame. Also, you can get free direct deposit. This gives you the flexibility and fee structure of a normal debit card that is linked directly to a bank account! Purchase rewards are available as well, but you should not go with this prepaid debit card or any prepaid debit card just because of purchase rewards, you should look for a card with a great reputation and low fees just like this one!

2. Capital One Reloadable Prepaid Mastercard: This is another great option if you are looking for a guaranteed approval prepaid debit card. There is no purchase price or activation fees whatsoever; it costs absolutely nothing to get started. There is no credit check and you are guaranteed to land this card if you apply for it which is exactly what you are looking for! You pay no interest whatsoever on this card just like you will with any other prepaid debit cards. This card is accepted anywhere where Mastercard debit cards are accepted, which is huge! Unfortunately you will have to pay up to 5 dollars in fees each month to own this card depending on how much you use the card, but it is still an excellent option for everyone looking for a guaranteed, instant approval prepaid debit card.

3. Orchard Bank Classic Mastercard: This is not a guaranteed approval card, but it is aimed towards people with bad credit or no credit at all! This is a normal, unsecured credit card which makes it different than the first two cards we listed. You will pay up to 20% APR, but that is to be expected with any credit card aimed towards people with poor credit. This credit card has a great reputation for helping people with poor credit raise their credit scores as long as they use the card responsibly. This card reports to all three major credit bureaus every month, your credit score will soar if you use the card often and you pay off your purchases quickly! The annual fee you will have to pay each year ranges between 0 and 59 dollars, all depending on your credit score. This is one of the best bad credit credit cards you will find!