Top 7 (Provider) Second Chance Credit Card With No Security Deposit

If you are suffering from bad credit, you may also ask for a second chance credit card with no security deposit. You may fall into the bad credit category list if your credit score is 580 or less than that. You may find several credit cards offering second Chance credit options that will strengthen your bad credits profile.

One’s credit scores get lower if anyone makes any mistake with the money in the past few years. The Second Chance credit cards are specially offered to users who have bad credit, restricting them from applying for a credit card. You can easily get approval on any required platforms with a Second Chance credit card.

Second chance credit cards are of two categories- secured and unsecured. Unsecured credit cards don’t need a security deposit. On the other hand, secured second chance credit cards demand a security deposit. If you are seeming for a second chance credit card with no security deposit unsecured, then we might help you!

Following, we have described all the needed facts about a second chance credit card with no security deposit. So, follow along without delaying the intro.

Top 7 (Provider) Second Chance Credit Card With No Security Deposit

One of the best ways to revive your lousy credit score is to go with a second chance credit card. However, you should also check if they require a security deposit or not. Several credit card providers are available that offer an unsecured second credit card without any security deposits.

We have researched thoroughly and listed the seven best second chance credit cards with no security deposit. For the selection, we have considered the Annual fees, minimum credit limit, regular APR, and other factors of the providers. Keep reading up below to find out the best credit card option that suits you.

1. Capital One

Second Chance Credit Card With No Security Deposit - QuicksilverOne from Capital One

Capital One has both secured and unsecured credit cards for the second chance cardholders. However, as the title speaks, here we’ll discuss the unsecured credit cards of Capital One that require no deposit.

Capital One-second chance credit cards are not basically great for re-establishing your credit score.

You can easily go for the Capital One second chance credit cards if you have fair or average credit. Their QuickSilverOne is a great one for applicants with a fair credit score.

It has thousands of positive customer opinions that make it a solid one to stand at the top spot of our list.

Necessary Documents For Capital One Quicksilver Credit Card

Like all other credit card providers, you may need to provide personal information and documentation papers for application approval. Similar to Capital One credit card, you must submit the required documents to apply for your second chance credit card with no security deposit.

Hither is the listing of demanded documents for Capital One.

  • First, you must yield a photocopy of your verified Identity Card or passport.
  • Your social security number(it provides users with government assistance)
  • Provide an additional or existing bank name with a valid account number

Features of Capital One Credit Card

With the Capital One QuicksilverOne credit card, you can get cash rewards, which will allow you to restore your credit history without any security pledges. You can qualify for a Capital One Second Chance Credit card even if you have any previous credit issues or bad credits.
The privileges of Capital One QuickSilver One Card are-

  • Each day you can get 1.5% cashback on every purchase.
  • It costs about 39 dollars per year as an annual fee for card renew
  • For purchases, they will charge up to 22.99% APR which is variable
  • With the Fraud Coverage, you can get up to 0 dollars Fraud Liability for any fraudulent purchases
  • You can easily monitor your credit scores with the credit Wise tool to help you out

If you are a new customer, you can get up to a 0% initial APR, which will be applied for up to the first nine months after activation.

After the nine months of initial activation, you will be charged the variable 22.99% APR for each purchase. The Capital one credit cards come with many benefits. Let’s discuss the benefits of Capital One Credit Cards!

Benefits of Capital One Credit Cards

  • You can stay up to date with the transactions by setting up a simple personal email alert.
  • If you set up an autopay option, your monthly transactions will automatically be done without any hassles.
  • You can easily transfer the balance to safeguard it in terms of high rate transactions or balances.
  • They also have a comprehensive and helpful customer care service available for up to 24 hours a day.
  • With their security alert system, you can quickly get notified by Captial One if any suspicious transactions are noticed in your account.
  • Capital One Eno’s virtual card number will allow you to pay with a virtual card number and keep your primary card number hidden.
  • Through their mobile app, you can effortlessly track all the updates, transactions, credit-wise score monitoring, and much more.

With their 39 dollars annual renewal fee, they also require 3% of your total transaction amount as a transaction fee. As a penalty or late payment fee, Capital One charges up to 40 dollars based on the creditworthiness of the user or cardholder. For both cash advances, purchases & transactions, they charge 26.99% APR(Annual Percentage Rate) based on the Prime market rate.

2. Total Visa

Total card visa

Total Visa can be a great alternative if you have been in the bad credit zone for a long time and looking for a second chance no deposit credit card.

Total Visa credit cards are suitable for less than stellar or bad credit users. With the Total Visa second chance credit card, you can refurbish your credit score.

As this is an unsecured second chance credit card option, you don’t need to worry about paying any security deposits.

If you have struggled to get credit in the past years for facing financial difficulties, you can trust the Genuine Visa Credit card from Total Visa.

Necessary Documents for Total Visa Credit Card

The application process of Total Visa is also pretty simple, and they are always online to give you a helping hand. Like all other credit card providers, you must submit the required documents to apply for your second chance credit card at Total Visa.

Hither is the listing of demanded documents for Total Visa.

  • You must yield a photocopy of your verified Identity Card or passport first.
  • Your social security number(it provides users with government assistance)
  • Provide an additional or existing bank name with a valid account number

You should fill up the complete application form with their secured online application. Within a few moments, you can finish the application process.

After filling up the data, review them, and submit it to Total Visa. They will reach out to you within as short as 60 seconds with a Quick Response.

Features of Total Visa Credit Card

Total Visa Credit cards are genuine Visa cards that don’t have perfect credit for being approved. Total Visa is a perfect pick if you want to report all three credit bureaus.

  • Total Visa credit card allows manageable monthly payment options
  • It is accepted by merchants across the United States, and it all online platforms
  • The application process is quick and sends approval responses within seconds
  • Charges up to 33.99% Annual Percentage Rate(APR) based on the creditworthiness
  • Supplies monthly records to all the three central credit authorities
  • The minimum credit limit is 300 dollars which varies or subjects based on available credits

If you receive an approval letter or confirmation from Total Visa, you just need to pay 89 dollars as the program fee. Total Visa charges this fee to open your account and give you access to all your available credits.

3. Credit One Bank

Second Chance Credit Card With No Security Deposit - Credit One Bank

Have you stuck with any previous credit falls that lead to bad credit? If yes, You can pick a second chance credit card with no security deposit from Credit One Bank.

Credit One bank’s second chance credit card is most suitable for users who desire to refurbish their credit scores. Moreover, it is also excellent for you if you make everyday purchases.

They have a pre-qualifying option that works with all who struggle to revive their credit score. Credit One-second chance unsecured credit card is also an authentic/genuine credit card, like Total Visa.

Their credit cards come with some baffling terms. However, you don’t have to fall into them until you pre-qualify.

Necessary Documents for Credit One Bank Credit Card

The application process of Credit One is also straightforward and effortless, and they are always online to help you out with any inquiry. Like all other credit card providers, you must submit the required documents to apply for your second chance credit card at Credit One.

Hither is the listing of demanded documents for Credit One.

  • First, you need to yield a photocopy of your verified Identity Card or passport.
  • Your social security number(it inflicts the government for accidental assistance)
  • Provide an existing bank name with a valid account number

Features of Credit One Bank Credit Card

The Platinum credit card is one of the best business credit card for ecommerce. Since this is an unsecured second chance credit card option, you don’t need to worry about paying any security deposits.

The features of this credit card are:

  • Each day you can get 1% cash back on every purchase, without any restrictions(mobile phone, broadband, cable, and satellite TV services).
  • You can enhance your credit score and credit line increase opportunities with on-time payments.
  • They allow you to pick a flexible payment due date that suits you.
  • By participating in merchants and frequently adding new offers, you can get up to an extra 10% cash back on purchases.
  • With the Fraud Coverage, you can get up to 0 dollars Fraud Liability for any fraudulent purchases.
  • With their mobile app, you can effortlessly track all the updates, transactions, credit-wise score monitoring, and much more.

For the first year, they charge up to 75 dollars annual fee, and after that, you have to pay a 99 dollars annual renewal fee. You can pay it in monthly installments at just 8.25 dollars per month. All purchases & transactions will charge up to 23.99% APR, which is variable and dependent on the Prime market value.

4. Milestone Gold Card

Milestone Gold Card

If you need a credit card to make your accomplishments in the various aspects of life, then a second chance unsecured credit card can be the best option.

Milestone Gold Card is an unsecured credit card that comes with a pre-qualifying option as well. Without paying anything for a security deposit, you can qualify for this credit card.

Milestone Gold Credit Card is specially launched for users who are stuck in the middle of nowhere for their bad credit history.

You can refurbish your credit records with Milestone credit cards. Just make in-time payments, and they will do the rest to enhance the credit scores for long-term benefits.

Necessary Documents for Milestone Gold credit card

Like all other credit card providers, you may need to provide personal information and documentation papers for application approval. Similarly, you must submit the required documents to apply for your second chance credit card with Milestone Gold credit card.

Hither is the listing of demanded documents for the Milestone Gold credit card.

  • Initially, you should yield a photocopy of your verified Identity Card or passport.
  • Your social security number(it presents users with government compensation)
  • Submit a supplementary or existing bank name with a legitimate account number

Features of Milestone Gold credit card

One of the key points to look for Milestone credit cards is you can easily access and refurbish your credit scores with them. Therefore, you can comfortably go for any accomplishments without any credit barriers.

Let’s find out what Milestone Gold credit card offers!

  • Requires no security deposit for approval so that you can save money
  • Supplies monthly records to all the three central credit authorities
  • You can easily track your progress with the 24 hours access to your account
  • They offer fraud protection if your card is lost or stolen in case of an accident; they will protect it
  • It is accepted across the USA so that you can manage it with confidence anywhere
  • The milestone credit card allows manageable monthly payment options
  • You can easily access your Milestone Mobile account with their dedicated mobile app.

They charge up to 35 to 99 dollars as an annual fee. All purchases & transactions will charge up to 24.99% APR, which is variable and dependent on the Prime market value.

You can qualify for Milestone Gold MasterCard without affecting your credit score. They require users with lousy credit for qualified approval.

5. Indigo Card

Second Chance Credit Card With No Security Deposit - Indigo Card

Indigo Platinum MasterCard is also a second chance credit card with no security deposit. Have you stumbled in the crucial aspects of life for insufficient credit?

Indigo Platinum MasterCard is here to help you with an effortless credit rebuilding opportunity. With Indigo MasterCard, you don’t need to pay some security deposits.

You can quickly get access to an enhancing line of credits, and your annual fee or APR will be deducted from this amount. It is exceptionally a secured card that offers you a second chance to rebuild your credits.

With a rebuilding credit history, you can effortlessly get approved for benefits like loans and essential credit cards also.

Necessary Documents For Indigo Platinum MasterCard

With a simplistic and hassle-free application process, you can easily pre-qualify for an Indigo Credit Card within a short period. Similar to all other credit cards with second chance benefits, you also need to submit a set of prerequisite documents to Indigo.

Following is the listing of demanded documents for Indigo Platinum MasterCard.

  • Yield a photocopy of your Identity Card or Passport (requires verification if papers are unverified)
  • For governmental infliction in crisis situations, you should give your Social Security Number.
  • Give an additional or existing bank name with an account number(needs verified and valid one)

Features of Indigo Platinum MasterCard

You can check if you are eligible for their Credit cards within a short time, shorter than the time of visiting your social media. With easy steps, you can get started with Indigo, and your credit build-up process will start initially. Here are the benefits/features of Indigo Platinum MasterCard.

  • They report all your monthly payments to the three Major Credit bureaus of the country for credit strengthening.
  • No need to pay any security deposit money as Indigo offers Unsecured credit cards.
  • Without affecting your credit score, you can qualify in advance
  • As it is accepted everywhere across the United States, you can use it confidently at platforms where MasterCard is accepted
  • You can easily track your progress with the 24 hours access to your account

According to your creditworthiness, they charge up to 75 to 99 dollars annual renewal fee. They have a low credit limit of just 300 dollars. Indigo will offer you the limit after getting approved for their Indigo Platinum Mastercard. Indigo is the best credit cards for 620 credit score.

You have to pay up to 24.99% regular APR for the credit card that also varies with the market Prime rate. Indigo charges just 1% of your total transacted money for foreign transactions.

6. First Premier Credit Card

First Premier Credit Card

First Premier Credit Card has been available in the United States for 30 years, and they are in the top list of credit card providers in the country. They can be your trusted financial partner, which will allow you to increase your credit score with effortless processes.

Simplify your overall living with the second chance credit card from First Premier Bank. After enrollment, you can get easy online account access for using it anywhere, even on the go!

You can effortlessly develop your credit scores with First Premier if you retain your balance below and repay your regular bills on time.

Necessary Documents For First Premier Credit Card

The application process of First Premier is also pretty simple, and their customer support is always online to give you a helping hand. Like all other credit card providers, you must submit the required documents to apply for your second chance credit card at First Premier Bank.

Hither is the listing of demanded documents for the First Premier Credit card.

  • First, you must yield a photocopy of your verified Identity Card or passport.
  • Your social security number(it provides users with government assistance)
  • Provide an additional or existing bank name with a valid account number

Features Of First Premier Second Chance Credit card

  • The First Premier Mastercard is easy to get started with. Here are the benefits of the First Premier Second Chance credit card.
  • Your monthly payment performance will be reported to the major consumer agency bureaus for credit improvement.
  • After a quarterly period, you will receive your improved credit scores
  • You can get cash advance advances from your credit card by using Cirrus ATM
  • With the new First Premier mobile app, you can manage all your payments and transactions with your mobile phone
  • Provide account alerts for payment notification, International transactions, and PIN changes
  • You can get started with paperless statements from their instant accessible online platform

After submitting the application, you will get the best business credit cards for fair credit. If your third is approved, they will notify you with a mail including the card. After getting approved, you need to pay the program fee for opening your new account. And next, you are ready to go with the credit card.

7. Destiny Mastercard

Second Chance Credit Card With No Security Deposit - Destiny Mastercard

If you are looking for a Second Chance credit card with no security deposit, you can check the Destiny MasterCard. MasterCard is an unsecured credit card provider which will allow you to build up your credit score without paying in security deposits at the time of activation.

If you can keep your account status in a good position, it will help you to build or improve your credit history.

Destiny Credit cards come with the motto of helping users who are suffering from bad credit history and can’t move anywhere. With Destiny Mastercards, you can choose pre-qualifying options that would not impact your credit score for approval.

Therefore with Destiny, you don’t have to waste time focusing on your credit score. You can move ahead without any obstacles.

Necessary documents for Destiny Mastercard

You may need to provide personal information and documentation papers for application approval like all other credit card providers. Similar to the Destiny Master credit card, you must submit the required documents to apply for your second chance credit card.

Hither is the listing of demanded documents for Destiny’s Second Chance credit card.

  • First, you need to yield a photocopy of your verified Identity Card or passport.
  • Your social security number(it inflicts the government for accidental assistance)
  • Provide an existing bank name with a valid account number

Features of Destiny Credit Card

  • They report all your monthly payments to the nation’s three Major Consumer Credit bureaus for credit rebuilding.
  • You don’t need to repay any security deposit money since Destiny offers Unsecured credit cards.
  • Without striking your credit score, you can qualify in advance for credit cards.
  • Since it is accepted everywhere across the United States, you can use it confidently at transactions where MasterCard is accepted.
  • With Destiny MasterCard, you don’t have to worry about your credit security.
  • They provide zero fraud liability protection for stolen or lost issues and fraudulent transactions.

The minimum credit limit is 300 dollars which vary for subjects based on available credits. Destiny charges about 59 to 99 dollars for the annual renewal fee.

They don’t require any intro Annual Percentage Rates. However, you may have to pay about 24.90% APR for transactions depending on the Prime market rate.

Essential Facts To Look For Before Picking A Credit Card

Second Chance credit cards are specially for users who have bad or lousy credit. Unsecured Credit cards are great for people who are suffering from credit issues; if they are not managed in a proper way, that can cost you extra money in the long run. That’s why you should consider some critical factors before choosing a credit card.

Annual Fee

The annual Fee is the fee that a card provider takes for holding the card. The average annual fee is about 50 to 100 dollars for most cards. The annual fee you pay for the card is non-refundable; it doesn’t matter if you are going for secured or unsecured cards. Thus it is essential to select the right one with an affordable annual fee rate.

Extra or Hidden Costs: With the cost of operating the credit card, sometimes the card provider may also include any hidden extra fees with it. You should stay aware and carefully pick one by observing this factor.

Higher APR

Several cards, regardless of the secured or unsecured category, may charge a higher APR from you, which can be pretty frustrating if you are not aware of it. That’s why you should select the card by getting acknowledged with the APR variable rate.

Credit Reporting

The second chance credit cards help the user to build credits by reporting monthly transactions reports to the major credit consumer bureaus. If your provider doesn’t provide the monthly performance or payment report to the major credit bureaus, it will not enhance your credit score.

Security & Protection

If your card doesn’t have any security or fraud protection, it may seem like throwing your credit amounts at risk. That’s why before you pick any credit card providers for your second chance credit card with no deposit, keep this thing in mind.

FAQs About Second Chance Credit Card With No Security Deposit

How do providers determine the credit limit?

First, the provider calculates the user’s total transaction amount and divides it by 12. Suppose your account balance is 250 dollars; they will charge the minimum amount or 1% of the balance, including late payment fees, interests, and Annual Percentage Rate.

What is the credit limit line?

For instance, you have invested 200 dollars for a security deposit at your credit card account opening. Usually, the actual credit limit line for second Chance credit cards is based on how much you initially deposit. For the example mentioned above, your credit limit will be 200 dollars.

What is considered an ideal credit limit?

You should always aim to set your credit utilization under 35% of the available balance in your account. Suppose your credit limit is approximately 500 dollars. For this limit, you should try to keep your account balance close to 175 dollars, which is 35% of the total limit.

Do Unsecured credits are always better?

Unsecured creditors are not always better because if you can’t afford the security deposit or set a limit to pay in regular gaps, your credit score will fall. That’s why you should always set a limit that you can easily afford and pay in regular periods.

Final Verdict

In the majority of cases, a second chance credit card with no security deposit requires higher ARP and annual fees. Therefore, it is crucial to pick the right one depending on these most vital aspects.

But, you can trust the alternatives we have mentioned and loyal ones to rebuild & improve your credit score. Determine which suits you best regarding your credit score and limit lines.