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Home»Credit Cards»Credit cards for a 500 credit score (or less)
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Credit cards for a 500 credit score (or less)

November 5, 2024No Comments1 Min Read
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Credit cards for a 500 credit score (or less)
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Mission Lane Visa® Credit Card image

Best for no security deposit

Mission Lane Visa® Credit Card

Rating: 3.4 stars out of 5

3.4

  • The Mission Lane 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).

  • Green circle with a checkmark inside

    Pros

    • This card doesn’t require a security deposit to open.
    • You could earn a credit limit increase in just seven months.
    Red circle with an X inside

    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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See also  Financial Advisor’s Guide To Debt Transfers: Reducing Credit Card Debt
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