Credit check requirement: None
The Chime Secured Credit Builder Visa® Credit Card works differently than most credit cards, with metaphorical guardrails to help you build your credit without incurring fees. To use Chime, all you need to do is open a free Chime Checking Account and receive a qualifying direct deposit of $200 or more to show you have a source of income.
Once that’s been received, you can fund your Credit Builder account by transferring money from your Checking Account to your Credit Builder Card online or in the Chime app. The amount you transfer becomes your available credit, and you can spend until you’ve used up all that you’ve transferred.
You can transfer more money at any time, so your credit limit is flexible and fully up to you, the cardholder.
However, Chime doesn’t earn rewards and may not prepare users for how a traditional credit card works, which could backfire after someone upgrades to a different card.
▶︎ Read more: Chime Credit Builder Card review
The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
Credit check requirement: None
OpenSky has one of the highest approval rates we’ve seen, meaning you have a good chance of qualifying for it as long as you can fund the minimum $200 security deposit. It does come with a $35 annual fee, which isn’t necessarily ideal, but it’s one of the only cards individuals can qualify for without a bank account. Plus, users can also potentially earn rewards on their purchases at over 40,000 retailers. Overall, OpenSky is a solid option for building or rebuilding credit.
▶︎ Read more: OpenSky Credit Card review
Credit check requirement: None
The OpenSky Plus Card is incredibly similar to the regular OpenSky card, with a high approval rate and the same rewards system, but it doesn’t charge an annual fee. In return, however, it has a higher minimum deposit requirement ($300) and a significantly higher APR. When deciding between the two, consider whether you tend to carry a balance. If you do, you may want to pay the higher annual fee of the regular OpenSky card so you can have a lower interest rate. If you pay off your balance in full every month, you may want to consider OpenSky Plus instead.
Credit check requirement: A soft pull may be required but won’t affect your credit score
First Progress Platinum Prestige is a decent option for individuals who tend to carry a balance, as its APR is significantly lower than most cards on this list. We always recommend paying your credit card bill in full at the end of each month, but if you can’t, this card provides a way to incur lower interest on your debt.
▶︎ Read more: First Progress credit cards
Credit check requirement: A soft pull may be required but won’t affect your credit score
The Self Secured Visa Credit Card has a unique credit-building structure and doesn’t require a security deposit to be paid at one time. Instead, you can pay in installments of as low as $25 per month to fund your deposit over time. That money goes into a Credit Builder Account, a small loan held in a certificate of deposit. Once you’ve contributed $100 to that account (and have met other requirements), that money can be used to fund the security deposit for the Self Credit Card.
This structure contributes to a greater credit mix than other credit cards and may be more effective in building your credit score. However, if you need a credit card quickly, Self won’t be ideal. One requirement is making three on-time monthly payments before getting the card, so you’ll have to wait at least 3 months before using it.
▶︎ Read more: Self Secured Visa review
