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A credit score of 500 or less gives you plenty of room for growth when building your credit, and it won’t exclude you from qualifying for a good credit card. Several credit cards for credit scores in this range or lower offer credit-building tools to help you build your score; some even offer rewards. The cards featured here could get you on the right track for a better score and better cards.
Top cards for a credit score of 500 or lower
Best for a low security deposit
Cardholder rating
4.4
Bankrate score
4.1
Bankrate review
Bankrate review
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on Capital One‘s secure site
See Rates & Fees
Bankrate’s view
The Capital One Platinum Secured Credit Card is a great starter credit card for people who want to access credit with a low security deposit. If you have bad credit or no credit, it’s a great choice because you may be eligible for a $49 security deposit ($99 or $200 minimum deposit possible, depending on your credit score), which is much lower than the deposit required on other cards for a credit score lower than 500.
Pros
There’s potential for a low security deposit if you qualify.
You could be eligible to upgrade after six months.
Cons
The high APR on any balance you carry could get expensive quickly.
This card has no rewards program.
Card Details
No annual or hidden fees. See if you’re approved in seconds
Building your credit? Using the Capital One Platinum Secured card responsibly could help
Put down a refundable security deposit starting at $49 to get at least a $200 initial credit line
You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
Monitor your credit score with CreditWise from Capital One. It’s free for everyone
Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One’s mobile app
Best for rewards
Cardholder rating
4.6
Bankrate score
5.0
Bankrate review
Bankrate review
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on Discover‘s secure site
See Rates & Fees
Reward Details
2%Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically.
1%Earn unlimited 1% cash back on all other purchases.
Bankrate’s view
The Discover it® Secured Credit Card is perhaps the best card on this list for anyone who can afford a $200 security deposit because it also earns rewards and a welcome offer. You’ll rarely find a card in this credit score range that earns cash back for your purchases or carries a welcome offer, so it’s worth jumping at what this card offers if you have the money to deposit.
Pros
This card has a rewards program, a rare feature for a secured card.
Automatic reviews start at 7 months to potentially transition to an unsecured line of credit and return your deposit.
Cons
Merchants may not accept Discover cards as often as other card networks like Visa and Mastercard.
The required minimum security deposit is high.
Card Details
No credit score required to apply. No Annual Fee.
Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
30 points or more—that’s how much you could increase your FICO® Credit Score on average after just six months of responsible use.
Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
Intro Offer: Unlimited Cashback Match for all new cardmembers—only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards.
Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
Terms and conditions apply.
Best for building a credit mix
Cardholder rating
4.3
Bankrate score
3.1
Bankrate review
Bankrate review
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on Self‘s secure site
$0 annual fee for the first year only, $25 annual fee thereafter.
Bankrate’s view
The secured Self Visa® Credit Card1 is a unique card in the bad credit space. Not only does it not come with an interest rate, it now only requires a minimum deposit of $100. If you prefer not to put down $100 to open the card, you can use a Self Credit Builder Account to eventually fund the security deposit. That account is similar to a credit-builder loan, which gives the cardholder both a credit card and a loan under their name. While this can be daunting, its a low-risk way to build credit faster than a more traditional credit card.
Pros
You can qualify without a security deposit or hard credit inquiry.
The issuer reports loan and card payments to all three credit bureaus, improving your credit mix.
Cons
The credit mix can be difficult for people to balance if they’re a less-experienced cardholder.
The card comes with no rewards, leaving no way to offset the $25 annual fee from the second year on.
Card Details
$0 annual fee for the first year only, $25 annual fee thereafter. Variable APR of 28.24%. Offer valid for new customers only.
With no credit check or prior credit required, anyone can start building credit. Fund your card with a minimum security deposit of $100 and use it anywhere Visa® is accepted in the U.S. Build credit by making on-time payments and maintaining a low credit utilization ratio. Every on-time payment helps build credit history.
If you don’t have the $100 security deposit today, consider a Credit Builder Account2 starting at $25 a month4. Consistent, on-time payments help you build credit and build savings to secure The secured Self Visa® Credit Card3.
1The secured Self Visa® Credit Card is issued by Lead Bank, Sunrise Bank, N.A., or First Century Bank, N.A., each Member FDIC.
2Credit Builder Accounts & Certificates of Deposit made/held by Lead Bank, Sunrise Banks, N.A., First Century Bank, N.A., each Member FDIC. Subject to credit approval.
3Qualification for the secured Self Visa® Credit Card is based on meeting eligibility requirements, including income and expense requirements and establishment of security interest. Criteria Subject to change.
1.5%Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
1%1% cash back on eligible purchases right away.
Bankrate’s view
The Petal® 2 “Cash Back, No Fees” Visa® Credit Card skips several credit card fees and earns a decent rate of cash back, with the chance to boost your rewards rate with responsible card use. If you’re building credit and want to have some external motivation outside of your own discipline, this card’s rewards program can incentivize you to use credit responsibly while you raise your score.
Pros
This card incentivizes paying on time, a welcome feature for a credit-building card.
The card charges no fees and no security deposit.
Cons
Other credit-building cards available have more competitive rewards programs and welcome offers.
You could have a sky-high APR and the card doesn’t have intro APR offers to give some relief on interest.
Best for no security deposit
Bankrate score
3.4
Bankrate review
Bankrate review
Recommended credit score:580 – 740
19.99% – 33.99% (Variable)
Reward Details
1.5%Earn 1.5% unlimited cash back on all purchases
Bankrate’s view
The Mission Lane Silver Line Visa® Credit Card charges an annual fee of up to $59 but skips the security deposit, making it a fairly affordable option for anyone with a credit score under 500. Security deposits are often expensive hurdles when accessing credit, but cards like this make a line of credit available with minimal financial commitment. This initial fee will dig into your credit limit, but cardholders have the opportunity for a credit line increase (See terms).
Pros
This card doesn’t require a security deposit to open.
You could earn a credit limit increase in just seven months.
Cons
The card may charge an annual fee depending on creditworthiness.
You can’t increase your low starting credit limit with a higher deposit like you can on a secured card.
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Comparing the best cards for a 500 credit score
How to choose a credit card for bad credit
Cards for bad credit tend to have very few benefits for consumers and can be a bit pricey when it comes to fees. However, some are more beneficial than others so you’ll want to to keep an eye for a few key features.
If you want to pick the right card for you, consider the following factors. Prioritizing these will help you choose a card that meets your needs without straining your credit-building efforts.
Free credit reports
The credit cards you’re eligible for vary based on your credit score and other credit-related factors like age of credit history. Knowing your credit score can help you navigate the cards you qualify for and help you avoid behaviors that could damage your score, like applying for too many credit cards at once. You can access your credit score for free through the three credit bureaus but it’s definitely a bonus if your card issuer provides it.
Minimal fees
Issuers often require security deposits upfront to open secured credit cards for bad credit. This collateral is a refundable amount used to fund your credit limit; other cards may charge annual fees, which are non-refundable.
Credit cards for bad credit also tend to have high ongoing APRs and rarely have intro APR offers. The best credit cards for bad credit have either a reasonable annual fee or a reasonable security deposit, a lower ongoing APR and plenty of credit-building incentives.
Avoid cards that have a ton of fees just for use (ATM fees, low balance fees, monthly, fees, etc.) as these fees can quickly add up and you could pay more than what you would even pay on some premium credit cards.
Credit-building features
An advantage of credit cards for bad to fair credit scores is the potential to help you build an even better score over time. Here’s a few things you should always look for:
Your card reports to the major credit bureaus, which ensures there is a record of your progress.
It includes incentives for positive credit habits, like credit limit increases.
The issuer offers the chance to graduate from your card to a more lucrative secured or unsecured credit card.
How to improve bad credit
The more you can improve your credit score, the better your chances are of accessing higher-quality cards. As a lower-risk borrower, you won’t have to spend as much on the collateral requirements for cards geared toward people with 500 credit scores or lower. There are a few easy habits that can help you improve your credit score over time. Consider doing the following:
Always pay on time. Set reminders on your calendar or set up automatic payments to ensure you never get hit with late fees or negative marks on your report for paying late.
Watch your credit report. See what’s making your score increase and decrease over time and adjust your credit habits accordingly.
Pay off your balance in full.Paying in full makes sure you avoid interest and keeps your credit utilization ratio low.
While these tips are simple, they can go a long way in helping you get to a better score and get better better credit cards in the future. So, make sure you keep an eye on your credit report over time and see where you can improve as you grow in your credit journey.
What’s next?
The bottom line
Don’t think a low credit score leaves you out for the count on accessing decent credit cards. You may not get the most lucrative rewards rates and lowest fees, but you can build your way to better cards with responsible habits. Be sure to pick a card that reports your progress to the major credit bureaus, never miss a payment and keep your credit utilization low. These steps can lead you in the right direction when done consistently over time.
Frequently asked questions about cards for a 500 credit score
The cards listed on this page are all marketed for credit scores in the “bad” range on the FICO scale. If you have a score below 580 then you could qualify for any of them.
It is typically easiest to get approved for any card with a security deposit, though you may also receive approvals for the annual fee cards listed here.
Most cards require scores of 670 or above. The cards on this page offer approvals for users with scores lower than 500. If you have a very low score, you should open a card that aligns with your needs and won’t strain your wallet.
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