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While secured cards require some type of deposit or collateral, an unsecured card doesn't. However, it's important to know that unsecured cards accessible to those with poor credit?which FICO defines as under 580 and VantageScore as 600 or less?often come with other costs, like higher interest or fees.
Most unsecured credit cards require credit in the good to excellent range (670-850). This range is where you'll become eligible for many different kinds of rewards and 0 percent intro APR cards.
Selecting the right kind of credit card or collateral makes it possible to apply for a credit card without income proof. Some options include secured credit cards against fixed deposits, student credit cards, add-on cards, or displaying an account with a sufficient balance.
Most unsecured credit cards require credit in the good to excellent range (670-850). This range is where you'll become eligible for many different kinds of rewards and 0 percent intro APR cards.
With open-end credit, you receive a credit line with a limit that you can draw from as needed, only paying interest on what you borrow. Common examples of open-end credit are credit cards and lines of credit. As you repay what you've borrowed, you can draw from the credit line again and again.
Some of the easiest unsecured cards to get approved for are the Indigo® Mastercard®, Mission Lane Visa® Credit Card and Milestone® Mastercard®. While these cards are geared toward people with bad credit and have easy approval odds, they tend to charge high fees and interest, which can make building credit costly.
With an 450 credit score, you're unlikely to get approved for a traditional credit card. Credit cards are unsecured forms of debt, so banks tend to be a bit more cautious compared to loans backed by specific assets, like mortgages and auto loans. Having said that, there are a couple of options.
If you have bad credit and you're looking for a credit card that doesn't require a security deposit, then the Mission Lane Visa® Credit Card could be for you. It offers lines of credit starting at $300, with annual fees ranging of $0.