What's the lowest credit score to get a credit card?
There is no minimum credit score needed for a credit card. Even borrowers with poor credit (a score of 300) or no credit card at all can qualify for some credit cards. However, options for bad-credit borrowers are limited and usually come with a high annual percentage rate (APR) and fees.
That likely means a score of at least 670 on the FICO scale and more than 660 on the VantageScore scale. FICO scores are the most widely used, but both scoring systems represent the risk you pose to lenders on a scale of 300 to 850. The higher the score, the lower the risk.
For credit cards, 750 is the required minimum CIBIL score. Your credit card application can be declined if you have a credit score of less than 750. Determining your CIBIL score in India is thus advised before applying for a credit card.
A credit score of about 700+ will likely qualify you for just about any credit card, including those with cash back rewards, lower annual percentage rates (APRs) and more. However, there are plenty of cards you can get with a score lower than this (more on that later).
Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
The Discover it® Secured Credit Card is our pick for the easiest credit card to get because it is designed for people with low credit scores. It comes with a $0 annual fee, great cash back rewards and a sign-up bonus for new cardmembers.
If you have a credit score of 500, the easiest credit cards to get will be secured credit cards that require a deposit, such as the Discover it® Secured Credit Card or U.S. Bank Cash+® Visa® Secured Card.
You may find it easier to get approved for a credit card for bad credit. But they're not to be taken out lightly. They tend to have high interest rates – so you can quickly build up expensive debt if you don't pay the card off in full each month.
After all, the average credit limit extended to Generation Z consumers came in at $11,290 during the second quarter of 2022, according to Experian. That's a far cry from the typical first credit card limit of $200 to $500. The tips below can help you grow your credit limit over time.
While some issuers offer cards designed for those with less-than-stellar credit scores, American Express does not offer any subprime or secured cards. In most cases, you need at least good credit to get approved for an American Express card, which FICO typically defines as a score of 670 or higher.
What's the lowest FICO score?
The lowest score you can get with either model is 300, though past scoring models have gone lower (and aren't used so much today). According to FICO, an estimated 11.1% of Americans have a FICO score ranging between 300 and 549 as of 2019.
What is the lowest credit score possible? Generally, credit scores range from 300 to 850, making 300 the lowest possible credit score.
A bad credit score is a FICO score below 670, meaning it falls in the fair or poor credit ranges. Along the same lines, a bad score in the VantageScore model is one below 661, which would belong in the fair, poor or very poor credit ranges.
The easiest credit card to get approved for is the OpenSky® Plus Secured Visa® Credit Card because there's no credit check for new applicants.
- Bank of America® Premium Rewards® credit card.
- Citi Custom Cash® Card.
- Capital One Venture Rewards Credit Card.
- U.S. Bank Cash+® Visa Signature® Card.
- Bilt World Elite Mastercard® Credit Card.
- Other notable options.
- Major issuers and their policies on instant credit access.
Too many credit applications: If you have a lot of hard inquiries on your credit reports, issuers might hesitate to extend you more credit. Low income: Some issuers will reject you if your rent is nearly as high as your income, for example.
- U.S. Bank Cash+® Secured Visa® Card * ...
- Bank of America® Customized Cash Rewards Secured Credit Card * ...
- First Progress Platinum Prestige Mastercard® Secured Credit Card. ...
- Rates & Fees. ...
- Bank of America® Unlimited Cash Rewards Secured Credit Card * ...
- U.S. Bank Altitude® Go Secured Visa® Card *
- Chase Sapphire Reserve®: Best for Lounge Access.
- Chase Freedom Flex℠ *: Best No-Annual-Fee Card.
- Delta SkyMiles® Reserve American Express Card: Best for Flights.
- American Express® Gold Card: Best for Dining.
The Capital One Platinum Secured Credit Card (see rates and fees) is easier to qualify for because it's a secured card, which means you'll need a security deposit to open the card. Although the card doesn't come with any rewards, you'll have an easier time getting approved even if you have a weaker credit score.
At the moment, there is one more credit card that allows you to apply with no credit and no bank account, OpenSky® Plus Secured Visa® Credit Card. This secured card has a $0 annual fee and requires a security deposit of at least $300 for opening.
What is the easiest card to get with bad credit?
- Chime Credit Builder Secured Visa® Credit Card: Best for flexible deposit.
- Capital One Platinum Secured Credit Card: Best for rebuilding credit.
- Self - Credit Builder Account with Secured Visa® Credit Card: Best for building credit with savings.
- Discover it® Secured Credit Card: Best secured card with reward.
One of the best credit cards for a 480 score is the OpenSky® Secured Visa® Credit Card because it does not require a credit check and its annual fee is relatively low at $35. This credit card requires a security deposit of at least $200 to open the account.
If you're just starting out, a good credit limit for your first card might be around $1,000. If you have built up a solid credit history, a steady income and a good credit score, your credit limit may increase to $5,000 or $10,000 or more — plenty of credit to ensure you can purchase big ticket items.
Which Amex card is the easiest to get? The easiest Amex cards to get are ones with a lower minimum spending requirement for rewards, as well as a low annual fee or no annual fee. Examples include the Blue Cash Everyday Card from American Express and the American Express Cash Magnet Card.
However, there is anecdotal evidence of scores in the lower 600s being approved. If you are a beginner with little to no credit, you are more likely to be approved for a no-annual-fee credit card, such as the Blue Cash Everyday® Card from American Express (see rates and fees).