A $2,000 may actually be a good thing when you have a bad credit score. Most of the unsecured cards for customers having subprime credit scores may not be as generous. Anyway, we have brought together a list of the top credit cards with $2,000 limit guaranteed approval.
Additionally, with the purchasing power that a $2,000 credit limit offers, these cards would also give the cardmembers the chance to improve their credit via timely payments. Succeeding at that worthy goal would unlock access to the best of the credit card offerings with a high speed limit. And that is actually pretty good, if you ask.
So, without any more delay, let’s get you some of the best credit cards that you may get your hands on.
Top 7 Credit Cards With $2,000 Limit Guaranteed Approval
If you are looking for credit cards with $2,000 limit, let us help you. Here is the list of top 7 credit cards that would not disappoint you.
Surge Platinum Mastercard
If you are looking for credit cards with a $2,000 limit guaranteed approval, this is the one thing that you would want to get your hands on. The price of admission is a bigger annual fee. It would also charge you a maintenance fee. It is surrendered for the very first year of the card ownership. This encourages the customers to move to a better and less expensive card when their credit score improves.
Naturally, not all the applicants would qualify for the line of maximum credit. The limit would depend on multiple factors that include income, debts, or recent payment history. You may order this Surge card with a premium design for a little extra fee.
Reflex Platinum Mastercard
The only difference that you would have to come across is the lack of premium design options. It is literally a twin for Surge. It, too, may offer you a credit limit that is up to $2,000 after you are done with six months of regular payments.
The card would let you take a cash advance 95 days after you open the account. You would require a bank account to qualify for the Reflex card.
First Progress Platinum Select Mastercard
This card is one of the three most secured cards that you can get from the issuer. It would accept refundable deposits from $200 to $2,000, which completely secures the credit line.
This secured Mastercard offers a grace period within which the purchases will not bear any interest when you pay them off before the due date. It would not need any minimum credit score for approval and report the repayments to all three credit bureaus.
First Progress Platinum Prestige Mastercard
This card comes with the highest annual fee and the lowest APR when it comes to the First Progress trio of secured cards. The low APR makes this card the card of choice of the trio when you are planning to finance the purchases over a number of months.
Each of the first progress cards comes with different fees and rates. Therefore, you need to make sure that you take a good look over the cardholder agreements to decide which would be a better suit to your wants.
Opensky Secured Visa Credit Card
The maximum deposit that you get with this card is $3,000. The credit card limit would be the same as the amount you put down. However, you need to remember that you may get the money after you use the account responsibly over a given time period. This card is the best for the customers who have poor credit as OpenSky would not check credit and gives approval to 85% of all the applicants.
The annual fee and the APR of the card are pretty competitive. The bank would report the three main credit bureaus that would help you build credit history.
First Latitude Platinum Mastercard
You may deposit approximately $2,000 to First Latitude Platinum Mastercard to get equal spending limit. This card would pay cash back on all eligible purchases and report your account to each of the three credit bureaus. This would help you build credit along with responsible use.
You may avoid the purchase of the card APR by paying the whole balance via each billing cycle.
There is no need for a minimum credit history for the approval. You may get a second, unsecured card if you keep paying timely bills for six straight months. This card would charge you with a small and one time setup fee along with an annual fee.
Applied Bank Secured Visa Gold Preferred
As time passes, this card would allow you with a maximum credit limit of $5,000. The card has a deceivingly low fixed rate of interest. However, it does not offer you with an interest free grace period. This means it would charge you with an interest on each of your purchases that you do not pay on the very same day.
You may manage the card account online or through the mobile application of the bank. It uses the embedded chip technology for better protection and security when you get to make purchases at any of the merchant terminals that enables chip. This card would not need any hard credit for its approval.
What Do We Mean By A Bad Credit?
Every issuer would consider that you have a bad credit if you have a FICO credit score that is less than 580 under the 300 to 850 range. Bad credit mainly happens when you make credit mistakes such as:
- Paying late by more than 30 days
- Written off and defaulted accounts
- Big amounts of debt, which is relative to income
The Bottom Line
There are only a handful of unsecured credit cards that would offer you a $2,000 credit score. However, you would need a lot more luck when it comes to the secured credit cards. Even then, they may not allow the subprime customers to make deposits of $2,000 or more.
It takes timely payments for six months of two reviewed unsecured cards and offers a limit of $2,000.
Keeping the unpaid balances certainly small may be helpful as it hints that you can, in fact, successfully manage the debts.
Secured cards, on the other hand, are simple to access. Plus, they are cheaper. You need to deposit equal amounts to the credit limit. That deposit is, in fact, refundable. Secured cards come with a low annual fees and APR in comparison to unsecured cards. Also, you would never have to pay maintenance fees.