Best Unsecured Cards for Short Credit Histories of October 2022 - NerdWallet Advertiser disclosure
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NerdWallet Oct 18, 2022 Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money. ALSO CONSIDER: Best credit cards of 2022 Best credit cards for fair credit Best starter cards for no credit Best rewards credit cards Most credit cards are "unsecured," meaning you don't have to put up any collateral in order to use them to borrow money for purchases. People with good or excellent credit don't have much trouble qualifying for unsecured cards. Those with short credit histories can have a harder time finding an unsecured card that will approve them without charging exorbitant fees. Even so, when it comes to getting approved for an unsecured credit card, a short credit history is better than none. If you're starting with no credit history at all, though, getting a secured credit card — a card that requires a refundable security deposit — is still your best bet. After six months to a year of on-time payments and responsible credit use, you might be able to qualify for a better offer. These cards stand out as the best unsecured cards for people with short histories and fair or average credit profiles (FICO scores of 630-689). ALSO CONSIDER: Best credit cards of 2022 Best credit cards for fair credit Best starter cards for no credit Best rewards credit cards Most credit cards are "unsecured," meaning you don't have to put up any collateral in order to use them to borrow money for purchases. People with good or excellent credit don't have much trouble qualifying for unsecured cards. Those with short credit histories can have a harder time finding an unsecured card that will approve them without charging exorbitant fees. Even so, when it comes to getting approved for an unsecured credit card, a short credit history is better than none. If you're starting with no credit history at all, though, getting a secured credit card — a card that requires a refundable security deposit — is still your best bet. After six months to a year of on-time payments and responsible credit use, you might be able to qualify for a better offer. These cards stand out as the best unsecured cards for people with short histories and fair or average credit profiles (FICO scores of 630-689).Show summary NerdWallet' s Best Unsecured Cards for Short Credit Histories of October 2022
Capital One QuicksilverOne Cash Rewards Credit Card: Best for Cash-back rewardsCapital One Platinum Credit Card: Best for Boosting your credit limitDeserve Pro Mastercard: Best for New immigrantsAvantCard Credit Card: Best for Minimizing impact on credit score Best Unsecured Cards for Short Credit Histories From Our Partners
Credit cardNerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.Annual feeIntro APRRegular APRLearn more Capital One QuicksilverOne Cash Rewards Credit CardApply now on Capital One's website 4.7/5 Best for Cash-back rewards$39N/A28.49% Variable APRApply now on Capital One's website Capital One Platinum Credit CardApply now on Capital One's website 3.5/5 Best for Boosting your credit limit$0N/A28.49% Variable APRApply now on Capital One's website AvantCard Credit CardApply now on Avant's website 2.7/5 Best for Minimizing impact on credit score$39N/A28.99% VariableApply now on Avant's website Our pick for Cash-back rewardsApply nowon Capital One's website Capital One QuicksilverOne Cash Rewards Credit Card
4.7NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.Apply nowon Capital One's websiteAnnual fee $39Intro APR N/ARegular APR 28.49% Variable APRRecommended Credit Score630689averageSee your approval oddsSee your approval odds A credit score in or above the recommended range means you have a higher chance of approval, but doesn’t guarantee it. Use this link to create an account and connect your credit score with TransUnion to get an estimate of your approval odds based on your credit score and other factors. Read more.Why We Like It Pros & Cons Product Details The Capital One QuicksilverOne Cash Rewards Credit Card earns an unlimited 1.5% cash back on purchases. When you're relatively new to credit, that kind of rewards rate is hard to find. You can also be automatically considered for a higher credit line in as little as six months. The Capital One QuicksilverOne Cash Rewards Credit Card earns an unlimited 1.5% cash back on purchases. When you're relatively new to credit, that kind of rewards rate is hard to find. You can also be automatically considered for a higher credit line in as little as six months. Pros You'll get a solid flat rewards rate on all purchases, and you can redeem your rewards in any amount. If you tend to forget about your rewards, you can even set up auto-redemption, where cash back is automatically applied as a statement credit when it reaches a certain threshold. This card travels well, too, because there's no foreign transaction fee. Cons There's an annual fee of $39. That means you'd have to put at least $2,600 on this card each year to break even on rewards. This card offers no sign-up bonus and has a 28.49% Variable APR. That makes carrying a balance expensive.Read full review Earn unlimited 1.5% cash back on every purchase, every day No rotating categories or limits to how much you can earn, and cash back doesn't expire for the life of the account. It's that simple Be automatically considered for a higher credit line in as little as 6 months Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges Help strengthen your credit for the future with responsible card use Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Monitor your credit score with CreditWise from Capital One. It's free for everyone Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set Our pick for Boosting your credit limitApply nowon Capital One's website Capital One Platinum Credit Card
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.Apply nowon Capital One's websiteAnnual fee $0Intro APR N/ARegular APR 28.49% Variable APRRecommended Credit Score630689averageSee your approval oddsSee your approval odds A credit score in or above the recommended range means you have a higher chance of approval, but doesn’t guarantee it. Use this link to create an account and connect your credit score with TransUnion to get an estimate of your approval odds based on your credit score and other factors. Read more.Why We Like It Pros & Cons Product Details For anyone who wants a no-fuss way to build their credit history and eventually increase their credit limit, the $0-annual-fee Capital One Platinum Credit Card keeps it simple. For anyone who wants a no-fuss way to build their credit history and eventually increase their credit limit, the $0-annual-fee Capital One Platinum Credit Card keeps it simple. Pros As with the Capital One QuicksilverOne Cash Rewards Credit Card, you can be automatically considered for a higher credit line in as little as six months. But unlike that card, this one doesn't cost you anything to keep in your wallet (assuming you don't carry a balance). There are also no foreign transaction fees. Cons There's no sign-up bonus, and the card earns no rewards. There's also no introductory 0% APR period for purchases or balance transfers. Use this card to build credit, then move on up.Read full review No annual or hidden fees. See if you're approved in seconds Be automatically considered for a higher credit line in as little as 6 months Help build your credit through responsible use of a card like this 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 from your desktop or smartphone, with Capital One's mobile app Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you Our pick for Minimizing impact on credit scoreApply nowon Avant's website AvantCard Credit Card
2.7NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account the type of card being reviewed (such as cash back, travel or balance transfer) and the card's rates, fees, rewards and other features.Apply nowon Avant's websiteAnnual fee $39Intro APR N/ARegular APR 28.99% VariableRecommended Credit Score630689averageSee your approval oddsSee your approval odds A credit score in or above the recommended range means you have a higher chance of approval, but doesn’t guarantee it. Use this link to create an account and connect your credit score with TransUnion to get an estimate of your approval odds based on your credit score and other factors. Read more.Why We Like It Pros & Cons Product Details The AvantCard Credit Card is an option for applicants with a thin credit file who don't want to risk hurting their credit scores by applying for multiple cards in search of approval. That's because you first complete a pre-qualification process that doesn't need a hard credit pull. That will give you an idea of your likelihood of being accepted for the card, and the terms you'd be eligible for, without the ding to your credit. If you'd like to proceed from there, you can complete the application process with a hard credit pull. The AvantCard Credit Card is an option for applicants with a thin credit file who don't want to risk hurting their credit scores by applying for multiple cards in search of approval. That's because you first complete a pre-qualification process that doesn't need a hard credit pull. That will give you an idea of your likelihood of being accepted for the card, and the terms you'd be eligible for, without the ding to your credit. If you'd like to proceed from there, you can complete the application process with a hard credit pull. Pros Avant's underwriting model takes into account other factors beyond applicants' credit histories, like income and other debt obligations. This can make it easier to qualify for the card without a long credit history. Also, the card doesn't charge a foreign transaction fee and reports to the three major credit bureaus — TransUnion, Equifax and Experian — which helps you build your credit history. Cons There's no sign-up bonus, no rewards program and no 0% intro APR, but there is a $39 annual fee.Read full review No deposit required. Reports to all three major credit bureaus. No penalty APR. No hidden fees. We may periodically review your account for credit line increases. Fast and easy application process. Cash Advance Fee: 3%, Min: $10. Disclosure: If you are charged interest, the charge will be no less than $1.00. Avant branded credit products are issued by WebBank, member FDIC. Checking your eligibility does not affect your credit score.FULL LIST OF EDITORIAL PICKS: BEST UNSECURED CARDS FOR SHORT CREDIT HISTORY
Click the card name to read our review. Before applying, confirm details on the issuer’s website. Capital One QuicksilverOne Cash Rewards Credit Card
Our pick for: Cash-back rewards This card for people with fair or "average" credit pays the same cash-back rate as the regular Quicksilver card, which targets people with excellent credit. The key difference is that this version charges an annual fee while the regular one does not. Read our review. Capital One Platinum Credit Card
Our pick for: Boosting your credit limit You don't get rewards with the Capital One Platinum Credit Card, or a sign-up bonus or a 0% period. But if you've got fair credit and you need a card you can use to build credit without paying an annual fee, it's definitely worth a look. Read our review. Deserve Pro Mastercard
Our pick for: New immigrants It's not easy to establish credit as an immigrant in the U.S., even if you had a good credit history in your home country. The Deserve Pro Mastercard uses an underwriting process that also takes employment and income into consideration. There's a rewards program, too. Read our review. AvantCard Credit Card
Our pick for: Minimizing impact on credit score The AvantCard Credit Card is an option for applicants with a thin credit file who don't want to risk hurting their credit scores by applying for multiple cards in search of approval. You first go through a pre-qualification process that doesn't require a hard credit check. That will give you an idea of your likelihood of being accepted. If you'd like to proceed from there, you can complete the application process with a full credit check. Read our review. Last updated on October 18, 2022 Methodology
NerdWallet's credit cards team selects the best credit cards in each category based on overall consumer value. Factors in our evaluation include fees, promotional and ongoing APRs, and sign-up bonuses; for rewards cards, we consider earning and redemption rates, redemption options and redemption difficulty. A single card is eligible to be chosen as among the "best" in multiple categories. Learn how NerdWallet rates credit cards. About the author
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