Top Guaranteed Approval Credit Cards With $1000 Limits for Bad Credit

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In our busy life, it frequently turns into a necessity to get further financial aid. It becomes quite difficult to choose the best credit card which suits our personal requirements. And, when you have a bad credit score you may think that it is quite impossible to get guaranteed approval credit cards with $1000 limits for bad credit. But in reality, there are several options that can provide you with guaranteed approval. A guaranteed approval credit card $1000 limit, seems always a great option by which you can build your credit score, but often such credit cards can come up with high-interest rates and fees.

But don’t worry if you have a bad credit score and you want credit cards with 1000-limit guaranteed approval. Because there are some very good options that provide credit cards with low-interest rates and fees. In that case, it is very important for you to do your research and proceed further. Here, we will provide you with several pieces of information which is necessary for choosing the right credit card option for you.

What are the Various Guaranteed Approval Credit Cards with $1000 Limits for Bad Credit?

Most probably you might think that getting a $1000 limits credit card for bad credit is impossible. But, there are numerous different sources that can assist you in adding a sizable number of credit cards to the budget in this harsh financial lifestyle. With guaranteed approval credit card 1000 limit, you can get a credit card regardless of your bad credit score. Though many of them require a high-interest rate and fees, there are various options that provide credit cards even at lower interest rates. There are two types of credit cards:

Secured Credit Card
Unsecured Credit Card

To find the right card which will give $1000 limits, you need to choose between the secured or unsecured credit card according to your requirements, so that even if you have a low credit score you can use them the way you wish. Once you figure out which card to use, you can begin narrowing down your options, and we’ll tell you the steps to take to get to your conclusion below.

What are Unsecured Credit Cards with $1000 Limit for Bad Credit?

When you have a bad credit score, 1000 dollar guaranteed approval unsecured credit cards for bad credit are the most appealing and profitable credit cards to opt for. Unlike a secured credit card, guaranteed approval unsecured credit cards for bad credit don’t require a security deposit from you. In most cases, they start with an initial limit of $300 to $500, but it can go up to $1000 within some time.

Here, you do not need to pay the higher interest rates and even get exempted from keeping credit, which is sometimes very essential in various emergency needs in case you need hard money or during any circumstances.

Pros of Unsecured Credit Cards:

The majority of reputable businesses provide unsecured credit cards, which give guaranteed approval credit cards with $1000 limits for bad credit no deposit.
The absence of a security deposit.
Good rebates and incentives.

Cons of Unsecured Credit Cards:

Only a few companies may provide you with a $1000 credit card limit.
More risk of being in debt.

Best Unsecured Guaranteed Approval Credit Cards with $1000 Limits for Bad Credit

A few examples of 1000-dollar guaranteed approval unsecured credit cards for bad credit are as follows:

1. Surge Mastercard

Since the Surge Mastercard has no minimum credit score restriction and requires guaranteed approval credit cards with $1000 limits for bad credit no deposit, it is perfect for anyone who wants a credit card with a 1000 dollar limit even with bad credit. Both applicants with high and low test scores are eligible for this card, which has a starting limit of $300 to $1,000 depending on their financial position. Additionally, if you pay on time for the course of six months, your limit can be increased.

This card also provides monthly reports to the three main credit bureaus, which helps to raise your credit score overall. This card also offers a simple online application procedure that you can finish in a short amount of time and get a quick response. Additionally, if you utilize it carefully, there is no annual charge and a low APR. However, unlike other cards, it does not provide loyalty points or cashback benefits.

Features:

Quick and simple application process; instantaneous results.
Low APR rate.
Without affecting your credit score, find out if you’re pre-qualified.
There is a minimum credit score.

Pros:

Even those with poor or no credit can apply for this credit card.
Anyone with high or bad credit scores can apply for this card.
Additionally, this card reports to three bureaus which help to increase the overall credit score.

Cons:

The annual rates can be very high.
They do not provide any rewards or loyalty points.
Depending on how creditworthy the lenders are, the annual cost fluctuates.

2. Destiny MasterCard

The Destiny MasterCard can be the perfect card for you if you’re looking for guaranteed approval credit cards with $1000 limits for bad credit no deposit and trying to improve your credit cards with 1000 limit guaranteed approval. You can improve your credit history with this unsecured credit card. In order for you to fully understand this card, here are some crucial information.

Even if your credit score is low, you may still be eligible for this card because the minimum credit requirement for eligibility is zero or terrible. Depending on your unique credit score, the annual charge can be anything from $59 to $99 every year. The Destiny MasterCard also comes with a number of advantages, including free access to internet banking and fraud protection services. Through their app or internet interface, you may get regular account updates and keep track of your spending all in one spot.

Additionally, they provide access to your Credit Score, which enables consumers to keep tabs on their scores and get notifications when their reports change. This card doesn’t have a rewards program, but it does give users a wonderful chance to improve their credit and get their finances back on track.

Features:

Even if your credit history is terrible you are still eligible for this card.
The minimum credit requirement is zero.
It has an APR value of 24.90%.
There is a fixed penalty APR rate of 29.90%.

Pros:

If you still have a bad credit history, you can opt for this option.
The minimum eligibility credit is zero.
They have an internet interface.
You can get updates on your credit score in that way you are always informed about the credit points.
It has a hassle-free process and application.

Cons:

They don’t provide any loyalty points or rewards.
The APR rate is high.
The annual fee is high.

3. Indigo Platinum MasterCard

The Indigo Platinum MasterCard can be the perfect option for you if you have low credit and don’t want to put down a security deposit. This credit card is well recognized for both its quick and simple application process and its moderately high APR of 24.99%. No welcome bonuses or reward schemes are available with the Indigo Platinum MasterCard. There isn’t a yearly charge attached to it, though. When registering for the card, your creditworthiness could determine whether you pay an annual charge of $0 or as much as $99, depending on the outcome. The Indigo Platinum MasterCard’s normal APR is 24.90%. (variable).

Remember that based on your credit history and financial position, this interest rate may go up or down. It’s crucial to keep in mind that, despite the fact that this card could be alluring to people with poor credit, carrying a balance on it can soon get pricey due to the high APR attached to it. The Indigo Platinum MasterCard’s lack of a minimum credit score requirement is among its most alluring features. This implies that even though your credit score is awful or zero, you still stand a chance of getting approved for this card. For people attempting to establish or repair their credit ratings from scratch, this can be really helpful.

Features:

This card doesn’t require any security deposits.
It has a moderately high APR rate.
The application process is pretty simple.
The annual fee depends upon the creditworthiness of the lenders.
If your credit score is simply awful. Still, you are eligible for this card.

Pros:

No deposit is required for this card.
There is a $0 annual fee for people qualifying for this criterion.
For someone who really wants to build a credit score from scratch, this is very useful for them.
You can use this card anywhere with any merchant where you can spot the Mastercard logo.

Cons:

It has a moderately high APR rate.
The annual fee depends upon the creditworthiness of the lenders.
There is no cashback or rewards.

What are Guaranteed Approval Secured Credit Cards with $1000 Bad Credit?

People with bad credit often think it’s impossible to get credit cards with a 1000 limit guaranteed approval. In such cases, secured credit cards provide the most reliable way to get a credit card at any cost. In secured credit cards, it often requires putting down a deposit as collateral for credit card 1000 limit guaranteed approval, and the deposit amount is equal to the credit limit if for example, if you want a credit limit of $1000, you need to put a deposit of equal to $1000. If you use this card wisely, you can upgrade yourself and apply for an unsecured credit card. The deposit which was there will be returned on good terms after the account is closed.

Merits of secured credit cards:

You can qualify for secured credit cards even if you have a low credit score.
If you have a bad credit score this is good for building a credit score.
They report your credit history to all three bureaus right away.

Demerits of secured credit cards:

You have to put down a security deposit as collateral which can be high sometimes.
The Annual Percentage Fees can be high sometimes.

Best Secured Guaranteed Approval Credit Cards with $1000 Limits for Bad Credit

Let’s now move on to some examples of secured credit cards with 1000 limit guaranteed approval.

1. Discover it Secured Credit Card

The Discover it Secured Credit Card is a leader in the secured credit market. We adore this card for people who are trying to rebuild their credit since it offers an unrestricted 1% money rewards rate on all transactions, plus 2% cashback offers at gas stations as well as eateries on up to $1,000 in total purchases per quarter, no penalty APR, and no annual fee. A nice extra is the corresponding cash-back return you receive at the conclusion of your first year.

Features:

There is no annual fee, you can earn cashback and improve your credit score.
There is no credit score which is required to apply.
You can improve your credit score just simply by putting in a refundable deposit of $200.
Earn cashback in various forms, for example in restaurants, gas stations, and so on.
Get a free update regarding your social security number if any case someone tries to breach it.

Pros:

No yearly charge.
Earning cash-back benefits with a secured card is uncommon.
Free monthly access to your FICO score.
At the completion of the first year, Cashback Match doubles the number of cashback rewards earned.

Cons:

Secured cards lack many of the benefits offered by unsecured cards, and they also demand refundable deposits.
Rewards come with limitations.

2. Bank of America Customized Cash Rewards Secured Credit Card

This Bank of America secured card might help people who need to improve their credit score because it has no yearly fee and the potential to earn rewards. Using this credit card on your mobile device to make transactions and balance transfers will result in an APR of 28.24% variable. There is no yearly charge. You can earn 3% back in your preferred category: petrol, restaurants, hotels, travel, pharmacies, or home maintenance & furniture stores, or at supermarkets and wholesale clubs, get 2% back in cashback. You can earn 1% cash back on any additional transactions without limit. To start this account, a refundable security deposit with a minimum of $200 and a maximum of $5,000 is needed. You may check your FICO Score for free through your App for Mobile Banking or Online Banking, which receives monthly updates.

Features:

There is no yearly fee and has a great potential to earn rewards.
You can shop with a card anywhere, be it in-store or on mobile phones.
Using this credit card on your mobile device to make transactions and balance transfers will result in an APR of 28.24% variable.
You can earn 3% back in your preferred category: petrol, restaurants, hotels, travel, pharmacies, or home maintenance & furniture stores.
You may check your FICO Score for free.
You can receive monthly updates on your mobile phones for free.

Pros:

Receive cashback benefits on qualifying purchases.
Possibility of upgrading to an unsecured credit card.
No yearly charge.

Cons:

A credit card transaction fee is charged.
A $200 starting deposit is needed.
It can be challenging to follow the incentives system.

3. Applied Bank Secured Visa Gold Preferred Credit Card

With prudent use, the $1,000 maximum initial credit limit on this Credit Card can increase to $5,000.You’ll also observe the credit card’s attractively low fixed interest rate; however, as there is no grace period during which interest is waived, you will always be charged for your purchases. There is no credit check limit or any minimum credit score required for guaranteed approval credit cards with $1000 limits for bad credit. It has a very low APR rate, which means the rate will not go up even if you are late on bill payments. The credit limit can increase just by adding initial deposits and a minimum deposit of $200.

Features:

The credit limit is very low with very low interest.
There is no credit limit or minimum credit score.
It has a comparatively low APR rate.
You can get a credit limit increase by depositing some amount initially.
All three National Credit Bureaus Receive Automatic Reports.

Pros:

It has a very low credit limit.
It has a low APR rate.
There is no minimum credit limit.
Inform all three credit bureaus.

Cons:

It does not have an interest-free grace period, for which you will be always charged interest for your purchase.

Potential Ways of Getting Credit Cards with $1000 Bad Credit

Most secured cards provide guaranteed approval credit cards with $1000 limits for bad credit such as the U.S. Bank Cash Visa Secured Card and the Bank of America Custom Cash Secured Card, which offer $0 annual fees in contrast to unsecured cards for people with bad credit. Additionally, the deposit is entirely refundable when you close your account in great condition. You can be qualified for an increase in credit limit without making a further deposit as you establish good credit. You may be able to move up to an unsecured card with improved facilities and no fees in specific circumstances.
Your credit score will determine whether or not you qualify for an unsecured credit card or not. Another important component in determining your credit limit is your income, debts, and general capacity to pay your credit card bills. The Surge Credit Card has a starting credit limit of $300+, similar to the majority of unsecured cards for bad credit. You will have to pay a yearly fee of $75 to $125, so you can’t immediately spend it all. Many unsecured credit cards for people with bad credit have hefty yearly, one-time, and monthly fees; these costs are rarely justified by the cost of maintaining the account.
Adding an authorized user is another strategy to get 1000 dollar guaranteed approval unsecured credit cards for bad credit. You will share the account’s credit limit when you sign up as an authorized user on someone else’s credit card while you improve your credit history. Both the principal cardholder and the authorized user’s credit scores may suffer from unpaid bills on the account. However, you always had the right to challenge inaccurate information and have it taken off your credit report as an authorized user.
There are some retail credit cards, like the Fingerhut Credit Card, that have limited credit limits at first, but after a few times, above-minimum payments, they might increase the credit limit. It has no annual fee and you can get it even with terrible credit.

Which Card Has the Highest Limit for Guaranteed Approval Credit Cards With $1000 Limits for Bad Credit?

The majority of unsecured credit cards provide guaranteed approval credit cards with $1000 limits for bad credit for people with bad credit will provide a $300 initial credit line. This is because the bank will not provide you with any additional credit until it has established that you are a trustworthy borrower. You can locate a secured card with substantially larger spending limits and nearly certain acceptance if you’re ready to pay a recoverable security deposit. Consumers frequently solely consider the potential line of credit when deciding on a credit card to apply for. While the amount of credit you have available is significant, your research shouldn’t be based only on it.

Whenever a bank lender develops a new card for people with bad credit, it must weigh the risk it is taking and come up with sufficient compensation to make the card worthwhile to those people. That entails additional costs and levies in addition to a rate of interest that is significantly greater than the one offered to those with good credit.

When a bank offers a sizable unsecured credit line, it assumes more risk. In order to cover the risk, it must therefore charge more. You’ll discover that cards with higher credit limits frequently end up costing you more in the long run.

How to Get Credit Cards With $1000 Limits for Bad Credit?

Absolutely, You can get a $1000 limit credit card for bad credit, and for that, you may need to deposit an amount as collateral in case of secured credit cards. It may not even require a credit check to get this card. Keep in mind that your deposit is not your payment. You will still be responsible for paying each charge you make to the card after you have made the deposit. Your current balance will determine the size of your monthly payment. Secured credit cards are sometimes more reliable than unsecured credit cards due to factors like lower costs, better perks, higher credit limits, no credit checks, and putting down refundable deposits.

On the other hand, the security deposit is not necessary for the approval of an unsecured credit card because there is no collateral. Banks typically prefer putting a contingency plan in place when dealing with candidates who have poor credit in case the customer fails on his or her credit card. You might have more difficulty locating an unsecured card with a $1,000 available credit as a result.

Unsecured cards for those with bad credit are typically not the best options. The card has a number of drawbacks because the issuer is aiming to reduce the risk of offering credit to subprime users who are establishing credit. It has several disadvantages including large interest rates, no cashback and rewards, extra buried costs, and high-interest rates.

How can I Increase my Credit Limit?

Your credit card’s kind will determine how this works. Increases in credit limits are handled differently by different cards, you can even seek a credit limit increase using a number of different strategies. Many card issuers include a hyperlink on their mobile application or website that enables you to enter some information and receive an almost fast response to your inquiry. These inquiries often focus on your yearly income as well as your mortgage or rent obligations. If authorized, the additional credit line becomes active right away.

If you increase your security deposit on some secured credit cards, you may also receive a greater credit limit. In case you can demonstrate that you utilize your account properly, such as by regularly making on-time repayments and maintaining a low amount, some lenders may be willing to increase your credit limit without requiring a larger deposit.

Selecting the appropriate moment to ask is essential for receiving a larger limit. Your credit limit will typically only increase once every six months on most credit cards. You can get rejection in case you open a new account or you get a credit limit increase during that period. If you have recently had late payments or overdrafts, you probably won’t be successful. An available credit rise is a reward for prudent monetary management.

As a result, if you’ve made recent blunders, the issuer won’t think about paying you. You should also ask for a higher credit limit, which not only gives you access to an overall higher credit but also improve your credit score. Which is required for the determination of your credit score for guaranteed approval credit cards with $1000 limits for bad credit

Is it Necessary to Get Bank Approval to Get Credit Cards?

Each credit card provider has its own set of regulations, but for approval, the majority prefers that you have a bank account. This makes it possible for you to promptly make periodic payments online. If not, the bank will rely on you to send payments on time each month. In actuality, a lot of credit cards for people with bad credit demand regular payments on a particular day each month. You must do this if your payment card account is linked to an active checking or savings account.

Before authorizing customers for a new card, some card companies will even look at the history of their bank accounts. You’re more likely to effectively manage your new credit card if you can manage your checking account responsibly—that is, if there haven’t been any previous overdraft charges, rejected checks, or insufficient funds. The issuer cannot see that information without an open account and might use it against you. With an online savings account, you may add a checking account to your wallet, earn interest on your savings, and instantly deposit benefits or paychecks.

Furthermore, since small banks operate mostly online, they are able to pass those savings along to you in the form of higher lending rates and other inexpensive financial products. Because they don’t have to incur the overhead expenses of a larger bank. Another advantage of online banking is that it doesn’t require any location access. You can access your account without going to the branch.

Can I Build Credit Using a Credit Card for Bad Credit?

Utilizing credit is the best approach to establishing credit. However, it might have the reverse effect if you utilize your available credit carelessly, such as by accruing borrowing and making late payments. You probably made some financial blunders in the past if you have bad credit. If you substitute the negative entries on the credit file with positive stuff, you can push them further into the past. Pay your bills on time and keep your balance low when you’re rebuilding your credit to raise it over time.

Each adverse entry on the credit history gradually loses significance. One 30-day late payment might result in a 100-point decline in your credit score. However, if you keep paying your bills on time after that mistake, the impact will eventually fade and your credit rating will continue to climb. However, that bad item will remain on your credit report for a maximum of seven years if you don’t have another credit card account to replace it.

Most secured and unsecured card issuers for people with weak credit will send reports to all three bureaus. However, some people won’t. For instance, a prepaid card has no effect whatsoever on your credit score. This is due to the fact that these cards aren’t actually credit cards. They are more similar to card payments in that you can utilize the money that has already been into the account.

They have no linked credit line and have no bearing on your credit score. However, other credit products, such as credit and debit cards, auto loans, loans, and personal loans, will give you the opportunity to demonstrate to lenders that you are a responsible borrower who makes on-time payments. Not only will this raise your credit score, it will also increase your chances of obtaining future lucrative and more cheap financial products. Additionally, a new card will raise your credit utilization, which determines 30% of your FICO credit score altogether.

FAQs

1. How to get a $1,000 credit card with bad credit?

You can get in two ways by using secured or unsecured credit cards. Secured credit cards require putting down certain collateral as deposits whereas unsecured credit cards it doesn’t require any deposits. There are certain secured credit cards that provide credit cards at lower interest with certain benefits.

2. What credit score is needed for a $1000 credit card?

There is no minimum credit score to sign up for an account. Each bank or credit card business has its own criteria for accepting card applications. However, if your credit score is 750 or higher, you have a decent chance of getting a card. In case you apply for a card with a score below 750, you might get approval. But you might also be subject to less advantageous terms and conditions, such as a higher interest rate or additional fees. The likelihood of being rejected increases with a lower credit score. If your score is below 650, getting a card would be exceedingly challenging.

3. How can I get a high-limit credit card with bad credit?

Increases in credit limits are handled differently by different cards, you can even seek a credit limit increase using a number of different strategies. Many card issuers include a hyperlink on their mobile application or website that enables you to enter some information and receive an almost fast response to your inquiry.

These inquiries often focus on your yearly income as well as your mortgage or rent obligations. The card issuer basically wants to know what percentage of your salary you are using to pay bills, or what is your liabilities ratio. If authorized, the additional credit line becomes active right away.

Which Card will Give you Guaranteed Approval Credit Cards with $1000 Limits for Bad Credit: Secured or Unsecured Credit Cards?

For guaranteed approval credit cards with $1000 limits for bad credit, Secured Credit cards are more reliable than unsecured Credit Cards. Due to various reasons like higher credit limits, various perks and benefits, lower costs, no credit limit, and so on. On the other hand, Unsecured Credit cards do not require any collateral or deposits. But they do have various disadvantageous over secured credit cards like high-interest rates, higher APR values, no perks, benefits other hidden costs, and skimpy credit limits. We recommend you do your own research before signing up for any credit cards. You can always let us know your concerns and queries anytime anywhere.