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Guaranteed Credit Card Approval With No Deposit (2024 Guide)

Nowadays, with the majority of our transactions being done electronically, having a credit card is basically a necessity. However, many people are often left unable to get one because they are not approved for one or don’t have the necessary financial stability to make a deposit. Fortunately, there are now credit cards that guarantee approval and require no deposit – best of all, you’ll get access to all the perks you’d expect from a regular credit card like cashback rewards and exclusive offers.

Finding a guaranteed credit card approval no deposit can be a real challenge these days. With so many different options on the market and no sure-fire way to know you’ll get approved, it’s understandable that people feel discouraged. But luckily, with the new guidebook dedicated to finding the best no deposit credit card approval options for 2024, you can guarantee your approval and start building your credit history.

What is a Guaranteed Credit Card Approval No Deposit?

Guaranteed Credit Card Approval No Deposit

Credit cards are a good fit for making purchases and payments. As an additional benefit, you can avail of cashback offers and gift coupons through credit cards. Also, it helps you to maintain a good credit score. Credit cards with no deposit can be an option for you, but every card issuer has some basic requirements you need to fulfill. Although demands could be minimal, you need to meet them for approval. After all, you cannot fulfill all your loan needs with a borrow money app. Credit cards with no deposit are basically unsecured credit cards. You do not have to pay any security deposit to get those credit cards. 

Secured and Unsecured Credit Cards

Let’s first understand what are the merits and demerits of credit cards with no deposit, so that you can make a sound decision for yourself. There are basically two types of credit cards, secured and unsecured. Secured once are those, where you have to make a security deposit in order to get the credit card. The security deposit can be somewhat between $200 – $2,500, depending on your credit score.

Whereas on the other hand, unsecured or no deposit credit cards are those cards where you do not need to make any security money to the credit card company to get the credit card. The good part is, there are several credit card companies that provide both secured and unsecured credit cards to bad credit holders. So does not matter if your credit score is good or bad, you can always get a credit card. Though the credit limit might be low for bad credit holders.

Now let’s have a look at the merits and demerits of both secured and unsecured credit cards so that you can make a better decision for yourself.

Merits of Unsecured Credit Cards

  • You do not have to make any security deposits to get credit cards.
  • You get a lot of cashback and rewards.
  • Extra offers on online transactions.
  • An ample amount of options are available.
  • The fee, interest rate, everything is low.

Demerits of Unsecured Credit Cards

  • It might be hard for people with bad credit scores to qualify for unsecured credit cards.
  • High chances of getting into big debt.

Merits of Secured Credit Cards

  • Good for building a credit score.
  • High chances of getting qualified for secured credit cards, even with a bad credit score.
  • Report your credit activities to all three major credit bureaus immediately.

Demerits of Secured Credit Cards

  • You have to pay a security deposit, this amount can be too high for bad credit holders.
  • Annual fees and other charges can be high.

8 Best Guaranteed Credit Card Approval No Deposit

Are you seeking guaranteed approval for credit cards for bad credit: no deposit? Then it won’t be a difficult task for you. We have made a well-researched credit card list for you. They will be providing you with no credit check credit card instant approval. Here is the list below:

1. Indigo Platinum Master Card

Indigo platinum MasterCard

Are you looking for a credit card that can help you build or rebuild your credit score? If so, the Indigo Platinum Master Card is worth considering being a top Guaranteed Credit Card No Deposit. This card is designed specifically for people with poor or bad credit, and it comes with several benefits that make it an attractive option.

The approval process for the Indigo Platinum Master Card is relatively easy. All you need to do is fill out a short application form and submit it to the company. You’ll also need to provide proof of your income and expenses. Once your application is approved, you can start using the card right away.

Another great feature of this card is that it allows users to pre-qualify for their own cards without having to submit a full application. This means that if you don’t have time or don’t want to commit to completing a full application, you can still get an idea of whether or not you’d be approved for one of these cards by simply entering some basic information on their website. This could save you time and effort in the long run if you decide not to pursue the card after all.

Perhaps most importantly, this card reports any activity directly to all three major credit bureaus – Experian, TransUnion, and Equifax – which can help improve your credit score over time if used responsibly. This means that as long as you make regular payments on time, your credit score should slowly but surely improve as long as you use this card responsibly.  This could open up more opportunities (e.g., better loans) in the future once your credit score has improved enough due to this card’s reporting activities.

Main Attractions

  • Great for building credit.
  • Easy approval.
  • Easy pre-qualification.
  • Immediate reporting to all three credit bureaus.

2. Milestone Gold MasterCard

MileStone Gold MasterCard

For this Guaranteed Credit Card Approval No Deposit, the regular APR rate for the Milestone Gold Mastercard is 24.90%. This means that you can enjoy lower interest rates as compared to other cards with no security deposit. This makes it ideal for those who are looking to keep their payments lower while still having access to a good quality card with no security deposit.

The Milestone Gold Mastercard also has an accessible mobile application through which you can access your credit facilities on the go. This app is available both on Android and iOS devices and allows you to easily manage your account, check your balance and make payments all from your phone or tablet.

In addition to the low APR rate, there are several other benefits associated with owning a Milestone Gold Mastercard such as fraud protection and 24/7 customer service in case of emergency or any other problem related to your account or transactions. You will also get exclusive discounts on selected goods and services whenever you use your card for payment.

Main Attractions

  • Very easy online application process.
  • Easy pre-qualification.
  • No security deposit is needed.
  • Regular APR is 24.90%.
  • The annual fee is just $35 for good credit holders.

3. FIT MasterCard

FIT MasterCard

The FIT MasterCard comes with some great benefits that make it an attractive option for those looking to rebuild their credit. To start, its initial credit limit of $400 makes it accessible even to those with bad credit scores. And while other guaranteed credit card approval no deposit may require multiple hard pulls, FIT only requires one—which makes applying easier than ever.

The card also offers a few additional features that make it appealing over time. For example, after just six months of use, you can request an increase in your available credit limit. And unlike other cards, there are no monthly maintenance fees for using the FIT MasterCard—so you don’t have to worry about any hidden costs beyond your monthly payment amount. Plus, if you decide at any time that the card isn’t right for you anymore, your security deposit is always refundable so you won’t be out any money.

Finally, when using the FIT MasterCard properly, users can expect to see their credit score gradually improve over time—a major plus if rebuilding their credit is a priority for them. With responsible use and timely payments each month, users should expect to see their overall financial health steadily improve over time as they build up their long-term financial history. 

Main Attractions

  • Initial credit limit of $400, even for bad credit holders.
  • The application process is pretty easy.
  • The credit limit can be increased after just 6 months.
  • The security deposit is refundable.

4. Merrick Bank Double Your Line Secured Visa

Merrick Bank Double Your Line Secured Visa

For those looking to build their credit score and take advantage of the perks that come with a secured card, look no further than Merrick Bank Double Your Line Secured Visa. This Guaranteed Credit Card Approval No Deposit option is designed especially for people with bad credit scores but offers a range of security features, fraud liability protection, and cashback benefits. Let’s take a closer look at what this card has to offer.

Applying for the Merrick Bank Double Your Line Secured Visa is quick and easy. You can even pre-qualify online before submitting your application. As with any secured credit card, you are required to make an initial deposit that will act as your collateral. The minimum deposit amount is $200 and the maximum is $3,000. Once approved for this credit card bad credit no deposit option, you can start using your Merrick Bank Double Your Line Secured Visa immediately.

The main attraction of the Merrick Bank Double Your Line Secured Visa is its ability to help you build or improve your credit score quickly. With responsible use of this card—by making all payments on time and limiting yourself to spending within 30% of your available limit—you can see an improvement in your credit score within a few months. The best part? It doesn’t cost you anything extra; all you need to do is use the card wisely!

In addition to helping you rebuild or establish a good credit history with responsible use, the Merrick Bank Double Your Line Secured Visa also offers several bonus benefits such as free monthly access to your FICO Credit Score and cashback rewards on everyday purchases (1% back on purchase over $500). Moreover, it comes with fraud liability protection so if someone uses stolen information to make unauthorized purchases on your account, you won’t be held liable for them.

Main Attractions

  • Easy application and pre-qualification process.
  • Helps in building your credit score.
  • Several bonuses and cash backs on everyday purchases.
  • Fraud protection.

5. First Savings MasterCard

First Savings MasterCard 

The First Savings MasterCard does not have any foreign transaction fees which makes it great for travelers and people who do online shopping internationally. This means that you can use the card while abroad without having to worry about additional charges on top of each purchase. As anyone who has traveled to a different country knows, having an extra fee added to each purchase can add up quickly, so this is a great benefit of the First Savings MasterCard.

The First Savings MasterCard also offers cashback and discount options depending on where you shop. For example, using the card at gas stations earns a 5% cashback while using it at department stores gives you a 3% discount off your total purchase price. Other retailers like restaurants or grocery stores offer 1% cash back or discounts as well, making this card a great option for saving money on all kinds of purchases.

In addition to these features, the First Savings MasterCard also has a rewards program that allows users to accumulate points on their purchases made with the card and then redeem them for rewards like gift cards or travel discounts. This is one more way for users to save money by simply using their credit cards for regular purchases.

Main Attractions

  • No fee on foreign transactions.
  • Cash backs and rewards.
  • No security deposit is needed.
  • An option for cash advances is available.

6. Prosper Credit Card

Prosper Credit Card

Having a bad credit score can be a major roadblock when it comes to finding the right credit card for you. But that doesn’t mean you have to give up on getting one with a higher initial credit limit. The Prosper Credit Card is a Guaranteed Credit Card Approval No Deposit card that comes with an initial credit limit of $500 and can range from $500 to $5,000. It’s great for those looking to build their credit score, but be aware of its high APR rate. Let’s explore the main features that come with this card.

One of the main advantages of the Prosper Credit Card is its initial credit limit. With other cards, users may have to wait 6 months or more in order to reach a higher limit. But with this card, you can get an initial limit of $500 right away and eventually move up all the way up to $5,000 without having to wait too long. This makes it ideal for those who need to start building their credit score immediately and don’t want to wait for months before they can start doing so.

Another great thing about this card is that no security deposit is needed in order to open an account. This makes it much more accessible than some other cards out there which require users to put down a certain amount as a security deposit before they can use it. And even if your initial credit limit isn’t all that high, you can increase it gradually over time until you reach your desired level without putting down any extra money at all!

The annual fee attached to this card is also relatively low compared to other cards out there – only $19 per year. This means that even if you don’t use your card very often, you won’t be breaking the bank by keeping it open and active; instead, you will be able to take advantage of its benefits without adding too much more expense onto your monthly budget.

Main Attractions

  • Initial credit limit of $500.
  • No security deposit is needed.
  • Low annual fee.
  • Good for credit building.

7. Legacy Credit Card

Legacy Credit Card

This credit card offers great perks, like no security deposit requirement, a possible initial credit limit of $1,500, and a low cash advance fee. The most attractive feature of the Legacy credit card is that there is no security deposit required. Unlike other Guaranteed Credit Card Approval No Deposit options, you don’t need to put up any money before being approved for the card. The initial credit limit can be as high as $1,500 which is great if you’re starting out and don’t have a large budget. The annual fee varies depending on your credit score, but even at its highest, it’s only $75 which is quite reasonable compared to some other cards. Plus, the cash advance fee is relatively low, making this an attractive option if you need access to money quickly without incurring additional fees or interest charges.

The Legacy credit card also offers cash advance services in addition to the traditional line of credit offered by the card itself. This is helpful if you need access to short-term funds but don’t have enough in your bank account or savings account at any given moment.

With this service, all you have to do is provide proof of income and then wait for approval from your lender before taking out a credit card cash advance from your line of credit. Because these advances are taken from your existing line of credit rather than opening up another one, there are no additional fees or interest charges associated with them either—making it an ideal solution for those who need short-term financial relief without incurring extra costs.

Main Attractions

  • Any security deposit is not required. 
  • Great for building credit.
  • Starting credit limit is up to $1,500. 
  • It has a low cash advance fee.

8. Petal 1 Visa Credit Card

Petal 1 Visa Credit Card

Are you looking for an excellent credit card option, but don’t want to put down a security deposit? Then you should take a look at the Petal 1 Visa Credit Card. This is an unsecured credit card that comes with no annual fee and no need for a credit score. With this card, you can easily qualify for pre-qualification and enjoy many benefits, such as cashback rewards on all types of purchases. Let’s explore the features of this fantastic card in more detail.

The application process for the Petal 1 Visa Credit Card is straightforward and time-efficient. To get started, visit their website and fill out your personal information, including your name, address, email address, phone number, and Social Security number. Once you have done that, click “Submit” to submit your application. From there, you will receive an email within minutes informing you whether or not you are pre-qualified for the Petal 1 Visa Credit Card. If so, then they will send you an offer letter along with further instructions on how to activate your account and begin using your card right away.

This unsecured credit card offers cashback rewards on all types of purchases made with it. The cashback rewards start at 2% and can go up to 10%, depending on the type of purchase being made. For example, if you make a purchase at a gas station or grocery store with your Petal 1 Visa Credit Card, then you could earn up to 10% cash back on that purchase! This makes it easy to save money while still making use of all the perks and benefits this credit card has to offer.

Main Attractions

  • No annual fee.
  • Zero credit is required.
  • 2%-10% cash back on all types of purchases.
  • Zero security deposit.
  • Easy application process.

Requirements for Credit Card With No Security Deposit

Requirements for Credit Card with No Security Deposit

Every other Credit card issuer has basic minimum requirements that every user must fulfill to get approval. We have enlisted a few common conditions for you down below.

1. Have an Active Account

The credit card issuer asks for an active account and a valid check to qualify for the approval stage. This way, your credit limit can also be enhanced within a particular period. Having an active account states that you should have a running account and make payments from your budget more preferably; you can say that a salaried account is the one they are asking for.

2. Having a Regular Income

Regular income is the factor that affects your approval stage for the Credit card. If you are looking for guaranteed credit card approval no deposit, then the issuer must check your income so that he can get insight that you will be able to return that money back or not. Conversely, low-deposit-secured credit card issuers won’t ask you for income. Issuers need to check the average monthly money they make before choosing a credit line. If one wants a massive credit limit, one should have enough income to pay it back.

3. Have Any Credit 

Credit card for bad credit no deposit? Don’t worry! Bad credit is no longer a problem nowadays as various companies in the market provide you with a credit card without asking for your credit score. If you don’t have a good credit score, then don’t worry. Either way, you will be getting a credit card.

4. Monthly Mortgage Payment

The issuer asks for your monthly rent and mortgage value. Through this, the issuer is validating your willingness to pay back. One will get dejected approval if it does not fit with the company’s policies.

How to Select Best Credit Cards With Guaranteed Approval No Deposit?

After all, a credit card is the right solution to all your need money now problems. So in this section, we are going to tell you about the most important factors that you must consider while getting a credit card so that you can get your hands on the best credit card.

1. Company Reputation

You should always get the credit card of that company, which has a good reputation in the market. Because when it comes to credit cards, there are several fraud companies that give unsecured credit cards to bad credit holders and then drag them into lawsuits. To check about the company’s reputation, you can check their online ratings and reviews from their previous customers.

2. Interest Rate and Other Fees

It is always better to go with cards that have low-interest rates and other fees. First of all, you should make a list of all the credit cards that you can qualify for, and then compare their interest rates and other fees. Now it will be easy for you to decide, which credit card would work better for you.

3. Rewards and Cashback

Let us all agree, we just do not use credit cards because they loan us some money, but we also use them for cashback, discounts, offers, and rewards. Compare the benefits of all the credit cards as per your expenses and then go with one that gives you maximum rewards and cash back.

Frequently Asked Questions (FAQs) 

Q1. How to get a credit card with bad credit and no deposit?

You can get guaranteed approval credit cards for bad credit: no deposit without any hassle as various options are available in the market. Also, we have provided you with the best 4 credit card options, which won’t ask you about bad credits and deposits.

Q2. Is it important to have a deposit before getting a credit card?

No, it is not essential to have deposits. Various credit card issuers offer a credit card with bad credit and no deposit. If you are looking for one, then you can go with the options below.

  1. Indigo Platinum MasterCard
  2. Milestone gold MasterCard
  3. FIT MasterCard

Q3. How do I ensure my credit card approval?

If you want to get your credit card approval then, first of all, take a look at your credit score. Now make a list of the companies that can provide you a credit card on that credit score. Consider all the important factors like interest rate, annual fee, late fee, etc. Now narrow down your list to just 3 or 4 companies where you will get a credit card for sure.

Also, make sure that you have all your papers ready, so when the credit card company asks for your documents, you can cut up on all the delay and send the documents immediately. One more important thing, do not apply for a credit card at too many companies. Because too many hard inquiries decrease your credit score.

Q4. How quickly can you get and use a credit card with no deposit?

If all your documents are ready and you have qualified for the credit card company’s criterion then you can get your credit card somewhat between ten to fifteen days. And as soon as you get your credit card, you can use it by activating it with a simple procedure that you will get with your credit card.

Q5. What credit cards don’t require a deposit?

Unsecured credit cards do not require any deposit. There are several benefits to unsecured credit cards, like, as they are great for credit building and you can easily get them, even if you have a bad credit score. Also, they come with several offers and cash backs, especially for online purchases and hotel and car bookings.

Q6. How can I increase my chances of getting approved for a credit card?

If you want to increase your chances of having a credit card, then you should start building your credit score. Most companies provide credit cards to applicants with good credit history. A good credit score simply helps you crack better deals.

Should I Go for Credit Cards With No Deposit?

We have provided you with the proper knowledge of getting Guaranteed Credit Card Approval No Deposit. There are various credit cards with no security deposit available in the market. You can also go for that, but just check all the factors affecting you before you go. Using a credit card is brilliant, but sometimes not being able to manage the expenses can be challenging. If you still have any questions stuck in your head, just comment below. Our team will assist you in every way possible.

Author Profile

Elizabeth Jones
Elizabeth Jones is one of our editorial team’s leading authors on credit card offers, services & more. With over two decades of experience in the consumer credit industry and as a nationally recognized credit expert, Elizabeth provides in-depth analysis of both traditional & alternative forms of credit. Elizabeth regularly appears on many major media outlets including NBC Nightly News, Fox Business Network, CNBC & Yahoo! Finance. She is also a frequent contributor to Forbes Magazine. As a highly appreciated author for our exclusive Editorial Team, Elizabeth strives to provide readers with a trustworthy advice on how to manage their credit accounts while staying informed on the latest offers in the marketplace.

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