A guaranteed credit card approval with no deposit does not exist. In fact, even with a deposit, the applicant still needs to be approved for a card, which is not guaranteed.
That said, there are certain cards that are easier to obtain than others. And, in this article, we’re going to explore these cards and answer common questions we receive on this topic.
This article is part of our free series on credit cards in the USA, including how to get a US credit card with an ITIN number, which you can access here.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Guaranteed Credit Card Approval No Deposit
- What Factors Should Be Considered When Choosing a Credit Card?
- How Can I Get a Guaranteed Approval Credit Card?
- Frequently Asked Questions
- Ready to Open Accounts With Banks in the USA?
Guaranteed Credit Card Approval No Deposit
Credit card approval with no deposit is not guaranteed. Instead, if an applicant is unwilling to provide a security deposit, a credit check will be conducted before approval is provided. If the credit check is not satisfactory, the credit card application will be denied.
That said, if you are looking for guaranteed (or close to guaranteed) credit card approval, you could consider applying for a secured credit card, a credit builder credit card, or being added as an authorized user to an existing credit card.
Before diving in any further, if this is your first time visiting GlobalBanks, don’t forget to download your FREE US Banking Starter Guide. It’s designed to help non-residents with opening bank accounts at top financial institutions in the US.
What Factors Should Be Considered When Choosing a Credit Card?
When choosing a credit card, the factors that you should consider include what benefits and rewards you desire, the interest rate charged, any maintenance fees, available offers, credit limits, and other terms and conditions.
In other words, you need to make sure that the card meets your requirements. Likewise, the card needs to offer reasonable terms that make it worth holding and using.
That said, you also need to make sure you can get approved for the card. And, as mentioned, there is no guaranteed credit card approval with no deposit. Instead, getting approved will require you to match the card issuer’s desired clients. Below, we’ll discuss the specific factors that can influence whether you meet their requirements or not.
In the meantime, here are a few additional details about the factors that can influence which card you apply to.
Cash Rewards
Cash rewards refer to the cashback offers that credit card issuers provide cardholders when they make purchases at specific retailers or in specific industries. In most cases, cash rewards are set at a certain percentage of the total spend, for example, 2%.
Credit Rewards
Credit rewards often refer to member rewards points, travel rewards, or other incentives offered to credit card holders. These rewards accumulate as the cardholder uses the card. In certain instances, specific purchases may incur higher rewards than others. Examples of high rewards often include industries with higher-value purchases, such as travel.
Credit Cards With No Deposit
Credit cards with no deposit are specifically referred to as unsecured credit cards. Unsecured credit cards are only suitable for individuals with a reasonable credit score and if you’re wondering if 750 is a good credit score, we share the answer and much more in our free article linked here. Otherwise, secured credit cards are usually the only available choice.
What Is the Easiest Card to Get?
The easiest card to get from a credit card issuer is either a secured credit card, a credit builder credit card, or to be added as an authorized user on someone else’s existing credit card. That said, if you have a good credit score, you will have a wide range of unsecured credit cards to choose from.
Alternatively, if you’re looking for company credit cards or startup business credit cards with no credit, you also have options to choose from, which you can learn more about at our article linked here.
How Can I Get a Guaranteed Approval Credit Card?
As mentioned, there are no guaranteed approval credit cards. However, there are certain credit cards that you are more likely to be approved for regardless of your credit history or credit score. These credit cards include the following options:
- Secured credit cards
- Credit builder credit cards
- Being added as a user to existing credit cards
Using one of these three methods to obtain a credit card also has the added benefit of helping you rebuild your credit score.
Credit Card Approval Factors
The primary credit card approval factors include:
- Credit history
- Credit score
- Credit utilization
- Employment status
- Current income
- Debt-to-income ratio
- Past missed payments
Frequently Asked Questions
Below are five of the most common questions we receive from people looking into guaranteed credit card approval with no deposit. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
Which Card Is Easiest to Get Approved For?
The credit card that is easiest to get approved for will be different for each applicant. However, individuals with a “poor” or “very poor” credit score will find that the easiest card to get approved for is a secured credit card, which means the applicant makes a security deposit with the bank.
Can I Get a Credit Card With a 524 Credit Score?
Yes, you can get a credit card with a 524 credit score. However, according to Experian, 524 is considered “very poor”, which means you will have very few credit card options to choose from. With this in mind, you will likely need to consider secured credit cards or credit builder credit cards to start improving your credit score above 579. Then you may be eligible for certain unsecured credit cards.
What Is the Easiest Way to Get a Credit Card With Bad Credit?
The easiest way to get a credit card with bad credit is to either apply for a secured credit card, a credit builder credit card or to get added as an approved user on another person’s credit card. In addition to getting approved with bad credit, these three options will also help you improve your credit score, which means you will be able to start applying for unsecured credit cards in the medium term.
What Is a Credit Card That Doesn’t Have a Security Deposit?
A credit card that doesn’t have a security deposit is an unsecured credit card. In other words, this is a card that is issued by a bank, credit union, or other financial institution that does not require you to maintain an initial security deposit. Cards that require an initial security deposit are referred to as “secured credit cards” and they are often suited to individuals with poor or non-existent credit history.
Can I Use My Credit Card as Soon as I Get Approved?
Yes, you can use your credit card as soon as you get approved. That said, depending on the credit card issuer, you may need to wait for the physical credit card to arrive. On the other hand, if you are receiving your credit card from an online or digital card provider, it’s possible that they will provide you with access to a virtual credit card as well, in which case you can use your card immediately after approval.
Ready to Open Accounts With Banks in the USA?
If so, you can get access to GlobalBanks USA (our dedicated US banking service) in just a few clicks.
GlobalBanks USA is a 100% personal account opening solution. It provides direct access to our team of US banking experts.
When you join, you receive…
+ Expert suggestions on where to open US bank accounts.
+ Step-by-step support to navigate opening US bank accounts.
+ Direct introductions to helpful and responsive bankers.
+ Plus, detailed guides to maximizing the value you get from your new US bank account.
And “yes!” GlobalBanks USA helps foreigners and non-resident individuals open bank accounts.
In fact, GlobalBanks USA even helps non-resident US LLCs and foreign & offshore entities.
To learn more about GlobalBanks USA, visit the product page to see how our team can help you successfully open US bank accounts!
