Best Credit Cards with Fast, Guaranteed Approval for Those with Bad Credit

You’ve heard or read somewhere that getting a credit card is a quick strategy to raise your credit score. Even credit score-boosting credit cards are available from several institutions. The irony in this situation is that those with poor credit cannot obtain credit cards. This poor credit rating may result from defaults on prior loans or unpaid credit card balances.

People miss credit or Bad credit loans guaranteed approval for various reasons, including job loss due to the recession, personal emergencies, and carelessness. Credit agencies will record any default, regardless of the cause, and will be made available to banks when they do a credit check.

How Does A Credit Score Work, And Why Is It Significant?

Your credit score is a total number or sum depending on all of the loans and repayments you have made. It takes into account the loan you have obtained as well as your payment history. Because it affects most of a loan’s characteristics, including interest rate, length, loan amount, etc., credit reports and credit scores are highly prioritized.

Therefore, if your credit record shows that you have skipped or made late payments, your score will be poor. Generally, banks view borrowers with credit scores of 750 or above as desirable. Anything less than that will have an impact on your interest rate (increasing), loan amount (decreasing), and loan tenure (decreasing).

Mistakes That Lower one’s Score:

Before getting turned down for guaranteed loans for bad credit, many need to realize how important having a decent credit score is. The following are some typical explanations for why you could have a poor credit score:

  • Missing loan payments or EMI deadlines
  • A pattern of consistently late credit card payments.
  • Submitting requests for credit (loans or credit cards) from several lenders quickly.
  • Nearing or exceeding your credit limit altogether

What Are The Alternatives?

Anyone’s credit score can be raised by getting a credit card. Only two choices exist for those with low credit scores to obtain a credit card.

  1. You may be eligible for a credit card from the bank where you have your salary account if you have solid employment in a reputable firm with a decent wage. Only those who get a salary should utilize this option.
  2. If you’re self-employed or working on a salary and want a credit card from a different bank, getting a secured credit card is your best bet. With a secured credit card, you make a fixed deposit (FD) for a predetermined amount, after which you are granted a credit card with a credit limit equal to or slightly below the FD. For instance, if you make a fixed deposit of $ 20,000, that sum will serve as your card’s credit limit. With other banks, only a portion of the money, such as 80% to 85% of the FD, is permitted as credit. In both scenarios, you will get interested in the fixed deposit from the bank. Your credit card will only be authorized right away in this circumstance.


Credit ratings play a significant role when applying for a loan, particularly an unsecured loan. You must already be a client from a well-known firm with a respectable salary to qualify for rapid acceptance of credit cards from banks. Otherwise, you will only be able to obtain a secured credit card by making a set deposit equal to or exceeding your credit limit. A secured credit card is highly advised since they are instantly accepted and help you raise your credit score by requiring timely monthly payments.

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