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Guaranteed Approval Credit Cards For Bad Credit

People with bad credit can benefit from guaranteed approval credit cards that report monthly to the major credit bureaus.

There are very few guaranteed credit cards unless it’s a no credit check secured credit card that requires some type of deposit on hold.

A few years back this was not the case. Companies like My Jewelers Club offered large guaranteed approval credit lines. However, as of 2021, this company, along with companies like Freedom Gold Card, Net First Platinum, and Unique Platinum ceased reporting customer payments to any credit bureaus.

There are some credit cards that are easier to get approved for than others but may require a banking or other type of relationship. Here are five companies that offer guaranteed approval credit cards or credit accounts that report to the major credit bureaus:

1. The Build Card from Current

The Build Card from Current is a “credit card” that helps improve your credit score. Simply use your card, even at the ATM, to build credit with every swipe. There’s no need for you to add to or lock away money in a separate account. Current will set aside money in your Reserved Funds to cover the outstanding balance. Twice a month Current pays your outstanding balance from your Reserved Funds. Payments are reported to TransUnion to help build your credit history.


  • No credit check or impact to your credit when you apply since the card is only available to Current checking account holders.
  • Current reports your credit standing to Transunion.
  • Must set up direct deposit to be eligible for Current Card.
  • Get your pay up to 2 days early.
  • No annual fee.



2. Go2Bank Secured Credit Card

The Go2Bank Secured Credit Card helps to rebuild damaged credit by reporting to the three major credit reporting bureaus each month. The card is only available only to GO2bank accountholders with direct deposits totaling at least $100. It’s easy to apply a Go2Bank checking account online and only takes a few minutes.


  • No credit check or impact to your credit when you apply since the card is only available to Go2Bank checking account holders.
  • GO2bank reports your credit standing to the three major credit bureaus every month.
  • Set up ASAP Direct Deposit™ on your GO2bank account, and receive direct deposits totaling at least $100.
  • Get your pay up to 2 days early.
  • Get your government benefits up to 4 days early.
  • No annual fee.
  • Make an initial refundable security deposit of at least $100 to set your credit limit.



3. Self Visa® Credit Card

The Self Visa® Credit Card requires that you start with a credit builder account that reports to all 3 credit bureaus. Each on-time monthly payment builds credit history and savings. Once you make 3 monthly payments on time and have $100 or more in savings progress you’ll automatically be eligible for the Self Visa® Credit Card, without a credit check.


  • No credit check. No credit history required.
  • Accounts in good standing may have opportunities to increase the credit limit over time.
  • $100 minimum security deposit.
  • Reports to all three bureaus.
  • $25 annual fee.



4. Kovo Credit Builder

Kovo Credit is not a credit card. Kovo is a public benefit corporation that offers interactive educational resources. You pay a monthly $10 for 24 months and Kovo reports those payments to the credit bureaus. You’re essentially buying self-directed online courses for $240 with subjects that range from personal brand builder to become an internet influencer to entrepreneurship sales training and techniques.


  • No credit check.
  • Reports to three major credit bureaus and Innovis, the fourth-biggest credit bureau.
  • Low monthly payments.
  • No late fees.
  • Instant approval.
  • 0% APR and $0 fees.
  • Get your FICO® Score and see your credit score journey progress every month.



5. OpenSky Secure Visa® Credit Card

This is a good fit for: People interested in getting an unsecured credit line increase after 6 months – no additional deposit required.



  • Build Your Credit fast with our monthly reporting to all 3 major credit bureaus.
  • No credit check to apply and find out instantly if you are approved.
  • With an 87% average approval rate for the past 6 months, OpenSky gives everyone an opportunity to improve their credit.
  • 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments.
  • Choose your credit line as low as $200 up to $3000, secured by a fully-refundable* security deposit.
  • Extra credit when you need it, increase your credit line up to $5000.
  • $35 Annual Fee
  • *View the cardholder agreement.


Best way to rebuild credit using a guaranteed approval credit card

Some guaranteed approval credit cards come with higher interest rates. But that’s to be expected being that these types of cards are designed for people with bad credit. But there’s a way to avoid high interest.

Pay your balance in full before the due date on your statement every month to avoid high-interest fees plus, charge only small amounts to your card.

Here is an example of not paying your balance in full: Let’s say you have a new card with a 15 percent APR (annual percentage rate). At the end of the first month, your balance is $300 and your minimum payment is $25. Once you pay the $25 minimum payment, your balance is now $275. The $275 balance will begin accruing interest at 15 percent until you make the next monthly payment.

But here’s the kicker: You’ll be paying interest on the already accrued interest. When you carry a balance, your balance just keeps getting bigger because you begin paying interest on a balance that includes the previously accrued interest. Once your balance continues to grow, especially if you only pay the minimum due each month, you end up paying much more than the original amount you put on your credit card.

Grace Periods are your friend

A grace period helps you avoid paying interest on a balance. The grace period varies by issuer, but it’s generally 21-25 days.

If you pay your balance in full every month during the grace period, you never pay interest. No matter how high your interest rate is, it won’t impact your balance if you pay it off during the grace period.

Be warned that not all credit cards offer a grace period which means the day you make a charge; you immediately start accruing interest on the balance. That’s something to consider when you are rebuilding credit on a budget.

If you are thinking “I have bad credit and can’t get a card…,” think again. There are some companies that offer guaranteed approval credit cards that report to the major credit bureaus.

Guaranteed approval credit cards may not have the greatest rewards but the good news is you don’t have to keep them forever. As your credit scores improve with on-time payments, you can apply for better credit card offers.

Think of guaranteed approval credit cards as a temporary solution to help build credit. Once your score increases, switch the guaranteed credit cards out for rewards, low-interest rate, cashback, and bonus point credit cards.

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Disclaimer: A OneUnited Checking Account is required to apply.

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