Using Guaranteed Approval Credit Cards To Rebuild Your Credit

If you are trying to rebuild your credit, guaranteed approval cards can really help you get started with adding GOOD trade lines to your credit report.  Too many times people focus on getting negative items removed and forget that lenders like to see good, healthy trade lines.     A lot of my clients that have gone thru a credit repair company come to me w/ a better credit score, due to a lot of negative information being removed, but almost no credit!  They are shocked to learn that their lack of credit is now the barrier to them getting a loan!

Secured credit card applicationThat’s where a tool like instant approval credit cards for bad credit comes in.   There are a lot of different types of guaranteed approval cards and not all of them will help you build credit.  In this article, I want to go over what to look for when applying for one of these cards.

Why are these cards becoming so popular?

Anyone who is working on improving their credit knows that you can do a lot of damage to your credit score just by applying for credit cards or loans.   Any company that uses a hard inquiry before they issue credit is one that should be applied to ONLY if you truly feel like the issuer will approve you.  We put together a list of soft inquiry credit cards for our clients looking for credit card companies that will approve bad credit.   A soft inquiry means that it will not affect your credit score if you apply.   So it was a better option when you are trying to keep your score as high as possible.

BUT while these companies worked with people with a low credit score.  They didn’t GUARANTEE approval.  And for some of our clients.  They needed a sure thing!

Types of Guaranteed Approval Credit Cards

guaranteed approval credit cards

  1. Secured credit cards – these are the best cards to have since MOST of them are guaranteed approval.   Look for cards that don’t do a credit check.  And make sure they report to at least 1 credit bureau.   You also want a card like the Applied Bank card that will let you add additional funds at a later time to your security deposit.  Learn more about the benefits of a secured credit card here.
  2. Debit cards – these are tied to your checking account.   A few years ago, there were a lot of them being offered online that also had a program called credit builder.  Meaning they would report your activity to at least 1 credit bureau.  This feature cost $10 a month but it was worth it!   Unfortunately, a lot of those companies have stopped offering that program online.  But you may be able to find a company locally offering the program.  Remember they MUST report your activity to at least 1 credit bureau.
  3. Catalog cards – these cards are really quite interesting. They tend to give you a credit line.  Minimum of $750 that can ONLY be used in their catalog.  Like the Freedom Gold Card.

Once you have chosen which card is right for you.  Then you need to start using it.  Use it wisely. Make sure you make your payments on time.   And monitor your credit reports.  Within a few months, you should start to see your credit score increase!

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Rebuild your credit with guaranteed approval credit card

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

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