Best Credit Cards for a 480 Credit Score 2024 (2024)

FAQs

Best Credit Cards for a 480 Credit Score 2024? ›

The best credit card for a 480 credit score is the OpenSky® Plus Secured Visa® Credit Card because it does not check your credit score when you apply and has a $0 annual fee. The OpenSky® Plus Secured Visa® Credit Card also reports to the credit bureaus on a monthly basis.

The best credit card for a 480 credit score is the OpenSky® Plus Secured Visa® Credit Card because it does not check your credit score when you apply and has a $0 annual fee. The OpenSky® Plus Secured Visa® Credit Card also reports to the credit bureaus on a monthly basis.

Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 480 FICO^® Score is significantly below the average credit score.

First Progress Platinum Elite Secured Mastercard: The First Progress Platinum Elite Secured Mastercard requires no credit history or minimum credit score for approval. Your security deposit is refundable, and the card is accepted nationwide.

The Discover it^® Secured Credit Card is our top pick for easiest credit card to get because it's geared toward those with limited/poor credit. It offers great rewards and charges a $0 annual fee. Plus, Discover will conduct monthly account reviews after seven months to see if you qualify to get your deposit refunded.

You'll typically need a credit score of 620 to finance a home purchase. However, some lenders may offer mortgage loans to borrowers with scores as low as 500. Whether you qualify for a specific loan type also depends on personal factors like your debt-to-income ratio (DTI), loan-to-value ratio (LTV) and income.

Can I buy a car with a 480 credit score? ›

It's possible to get approved for an auto loan if you have bad credit (sometimes called "deep subprime" credit), meaning a credit score under 580. But in many cases, options can be costly. To improve your odds of getting approved for a relatively affordable loan, follow these steps.

What is a bad FICO credit score? In the FICO (that is, Fair Isaac Corporation) scoring model, scores range from 300 to 850. This number is designed to signal to potential lenders how risky a particular borrower is. If your credit score lands between 300 and 579, it is considered poor and lenders may see you as a risk.

The primary credit scoring models are FICO® and VantageScore®, and both are equally accurate. Although both are accurate, most lenders are looking at your FICO score when you apply for a loan.

The best type of credit card for a 480 credit score is a secured credit card with no credit check when you apply.

The best credit card overall is the Wells Fargo Active Cash® Card because it gives 2% cash rewards on purchases and has a $0 annual fee. For comparison purposes, the average cash rewards card in 2024 gives about 1% back. Cardholders can also earn an initial bonus of $200 cash rewards after spending $500...

No credit card has guaranteed approval, but the Chime Credit Builder Secured Visa® Credit Card and the OpenSky® Secured Visa® Credit Card are two options with very high approval rates and no credit check requirement.

If your credit score lands around 500 or lower, your chances of getting the credit card of your choice is significantly reduced. You may want to consider improving your score so you can have better chances of getting the card of your choice.

First Latitude Select Mastercard® Secured Credit Card

Choose your own fully-refundable credit line – $200 to $2000 – based on your security deposit. No minimum credit score required for approval!

The U.S. Bank Altitude Go Visa Secured Card is the best option if you have limited/poor credit and are looking for a high credit limit. You can deposit anywhere from $300 to $5,000, making your maximum credit limit available $5,000.

Secured credit card: You can typically get a secured credit card even if you have a credit score of 450. You usually need to provide collateral in the form of a security deposit. If you don't make payments, your security deposit will be forfeited.