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No Credit Check Credit Card |‌ Green Day Online

Credit cards from newer companies often promise no credit check or fees. This is an excellent combination for people with bad credit. These are our top choices.

Because they don’t affect your credit score, credit cards that say “no credit check” may be attractive to people with poor credit. However, these cards often come with high-interest rates and fees.

Although they may allow you to skip the hard pull from your credit report, you will end up paying for it over time.

Some credit card companies, especially those newer to the market, advertise no credit checks or fees. These so-called alternative credit cards use proprietary underwriting technology to evaluate creditworthiness. This is done by looking at other factors such as your bank account and credit history instead of credit scores.

If you have bad credit, traditional secured credit cards and fee-harvester credit cards may not be your best options. These cards are low- or no-fee and don’t require credit checks.

Chime Credit Builder Visa® Credit Card

Our choice for: Chime users

CARD DETAILS

Credit check: None

Security deposit: There is no upfront security deposit. Your credit limit is determined by how much you transfer to your secured account.

Fees: None

APR: None

WHY DO WE LIKE IT

The Chime Credit Builder Visa® Credit Card eliminates many limitations associated with traditional secured credit cards for those with low credit scores or no credit. To get the card, you will need a Chime spending account, a free bank account that allows direct deposits. To prove that you have income, you will need to deposit at least $200 to the Chime Spending account within the last 365 days.

This card does not require an upfront security deposit like many secured credit cards. You won’t have to pay $200 for a locked-up card that is untouchable for an indeterminate amount of time.

You can also decide how much money you spend. Your credit limit is determined by how much money you transfer from the Chime Spending account to the Credit Builder secured accounts.

If you transfer $25 to your secured bank account, you can spend $25 on the card. You can also use the money in your secured account to pay off the balance and build credit. If you spend $15 on gas using your secured card, you can use the same $25 to pay $15. All three major credit bureaus receive your payments.

DRAWBACKS

To be eligible for the Chime Credit Builder Visa® Credit Card, you must have a Chime Spending account. Although it is free to apply, you will need to put in some effort. This card does not allow you to carry a balance month to month.

Tomo Credit Card

Our choice for: Rewards

CARD DETAILS

Credit check: None

Security deposit: None

Fees: None

APR: None

WHY DO WE LIKE IT

Community Federal Savings Bank issues the Tomo Credit Card. This card is perfect for people with bad credit or no credit. It can earn 1% cashback and offer a credit limit of up to $10,000, depending on your eligibility.

The card’s creator, TomoCredit, has proprietary technology that evaluates many data points, including income (or potential income), account balances, and contact information. The bank uses this data to determine if you are a suitable candidate for the card.

You will need to link at minimum one account through Plaid (a third-party service provider) to provide this information. A checking, savings, investment, or other eligible accounts can be linked.

All major credit bureaus report payments to TransUnion, Equifax, and Experian. This is a vital feature if you are trying to establish credit. These companies collect information that can be used to calculate credit scores.

DRAWBACKS

Some features of the Tomo Credit Card might not be suitable for everyone. The card doesn’t allow you to carry a balance over from one month into the next. It also requires that you start with a seven-day schedule, in which payments will be automatically taken from your bank account.

Grow Credit Mastercard

Our choice for: Subscriptions

CARD DETAILS

Credit check: The company does not run a credit check. This won’t affect your credit score.

Security Deposit: For most membership plans, there is no security deposit.

Fees: None for the free membership tier. (You will need to pay for any additional tiers).

APR: None

WHY DO WE LIKE IT

Sutton Bank’s Grow credit Mastercard virtual card is open to all, including those with low credit scores or no credit. Grow Credit uses proprietary technology to assess creditworthiness. It looks at income. Plaid will require you to link a bank account with Grow Credit to weigh this information.

You can choose from one of four membership options that will help you build credit while you pay eligible monthly bills or subscriptions.

The Grow Credit Mastercard allows you to make a payment of $8.99 per month for Netflix. If you make your payments on time and in full, the payments will build credit. (Qualifying subscriptions, bills, and other requirements vary depending on the membership plan. It reports all payments to the three major credit bureaus.

DRAWBACKS

The card can only be used for subscriptions and qualifying bills. Also, you can’t transfer a balance from one month into the next.

Two of the paid membership plans, the Grow membership tier (an annual cost of around $60) and Accelerate membership (an annual cost of almost $120 each), are not worth it.

That’s money you won’t get back. Grow Credit’s secured membership plan, or free membership plan is better for you. You might also consider a secured card which offers the chance to get your deposit back.

Secured Visa Credit Card OpenSky®

Our choice for: Unbanked

CARD DETAILS

Credit check: None

Security deposit: A minimum of $200 is required.

Annual fee: $35 Other fees may apply depending on the nature of your transactions and payments.

APR: The current APR is 17.39% Variable.

WHY DO WE LIKE IT

The OpenSky®, Secured Visa®, Credit Card is a traditional secured card that’s great for people with bad credit. It’s the only secured credit card that allows you to apply without having a bank account or credit check. You can also make payments to the three credit bureaus.

DRAWBACKS

Some may find the minimum $200 deposit requirement to be a problem. Although the $35 annual fee may seem high, secured credit cards are available that do not charge a yearly fee.

OpenSky®, Secured Visa®, Credit Card don’t allow you to upgrade to an unsecured card until you have a solid payment history. If you wish to receive your security deposit back, you will need to close your account.

GO2bank Secured Credit Card

Our choice for: A low-security deposit

CARD DETAILS

Credit check: None

Security deposit: A minimum 0 deposit is required.

Fees: A $0 per year fee Other fees may apply depending on the nature of your transactions or payments.

APR: As of the writing, the current APR is 22.99%

WHY DO WE LIKE IT

For those with bad credit, the GO2bank Secured Card Credit Card is a good option. You will need a GO2bank bank account and direct deposits of at least $100 within the last 30 days to be eligible for this card.

You won’t need to have a credit check to apply. There is a $100 minimum security deposit requirement for secured credit cards. Your credit limit is determined by the amount you deposit.

As with regular credit cards, spending less than 30% of your credit limit can improve your credit score. Your payments are also reported to the three credit bureaus by the GO2bank Secured Credit Card. This helps you build credit.

DRAWBACKS

The GO2bank Secured Credit Card requires that you have a GO2bank Account to be eligible. Once you have a solid payment history, there is no way to upgrade to an unsecured credit card. You will need to close your account to receive your security deposit back. It also has a 3% foreign transaction fee, which makes it not ideal for travelers abroad.

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