Are you tired of hearing "application denied" when trying to get approved for a credit card? You're not alone – many millennials find it difficult to get a credit card due to lack of credit history or low credit scores. But worry not, as there are credit cards that are easier to apply for and get approved. In this guide, we'll walk you through the world of easy-to-apply-for credit cards, helping you boost your financial horizon while keeping things simple.
Credit Cards Easy To Apply For Table of Contents
Why Some Credit Cards Are Easier to Apply For
There are plenty of credit cards available in the market, each with their own set of requirements and approval criteria. Easy-to-apply-for credit cards have lenient eligibility requirements, offering a chance to those with limited or poor credit to build their credit history. Here are a few reasons why some credit cards are easier to apply for:
- Designed for people with limited or no credit history: Credit card issuers understand that everyone starts somewhere, so they provide options for people in this category.
- Secured credit cards: These cards require a security deposit, which acts as collateral and significantly reduces risk for the credit card issuer, thus making approvals easier.
- Prepaid cards: These cards do not have a line of credit and require users to load money onto the card before using it. They usually don't require stringent eligibility criteria, making them an excellent option for those looking for an easy approval.
Tips for Finding and Applying for Easy Approval Credit Cards
To improve your chances of getting approved, here are some tips for finding and applying for the ideal easy approval credit card:
1. Check your credit score: Before applying, be aware of your credit score and what range it falls into. This can help you narrow down your options and apply for cards that cater to your credit range.
2. Do your research: Explore the available options, considering factors such as annual fees, interest rates, rewards, and benefits. Pick a card that is not only easy to apply for but also aligns with your financial goals and spending habits.
3. Verify the eligibility criteria: Confirm the specific card's eligibility requirements to ensure you meet them before application.
4. Apply online: Utilize online resources to compare cards and apply directly on the credit card issuer's website. Online applications are usually more accessible and can provide faster approval decisions.
Five Easy-to-Apply-For Credit Cards to Consider
Here are five credit cards to consider that are known for their easy application process:
1. Discover it Secured: This secured credit card provides rewards and helps you build credit with responsible use.
2. Capital One Platinum: Designed for those with fair credit, this card has no annual fee and offers a higher credit line after making your first five monthly payments on time.
3. Petal 2 Visa Card: Aimed at applicants with no credit history, this card evaluates your creditworthiness based on your income, expenses, and previous payments.
4. Chime Credit Builder Visa: With no credit check required, this secured card helps improve your credit score with responsible use.
5. OpenSky Secured Visa: This secured card doesn't require a credit check and helps you build or rebuild your credit history.
Credit Cards Easy To Apply For Example:
Imagine you're a recent graduate with no credit history, and you find it challenging to get approved for a traditional credit card. After doing your research, you decide to apply for the Petal 2 Visa Card since it caters to people with no credit history. The approval process is smooth, and you're now a cardholder with a $1,000 credit limit.
As you use the card responsibly and make on-time payments, your credit score starts to improve. Over time, not only have you built a strong credit history, but you've also opened up opportunities to qualify for other financial products like loans and higher limit credit cards.
Now that you have a better understanding of easy-to-apply-for credit cards, you're one step closer to achieving your financial goals. Don't let the fear of rejection hold you back – the right card for you is out there. Feel free to share this helpful article with your friends and family or explore more guides on Flik Eco to empower your financial journey!