 TITLE: Can I Get an Unsecured Credit Card With a 500 Credit Score? CONTENT: What Credit Cards Can You Get With Bad Credit?\n----------------------------------------------\nUnsecured loans or lines of credit are types of financing that aren't backed by any kind of collateral. Debts like your mortgage or auto loan are tied to assets that can be repossessed if you fail to make good on your payments, but unsecured credit cards have no such backing. Compared with other types of credit, unsecured credit cards present more of a financial risk to lenders, which may cause them to be more discerning when deciding whether to approve you.\nHaving a good score tells creditors you know how to manage your credit responsibly and indicates you are a low-risk borrower. But if your credit score is hovering around the 500 mark, it might mean you've got negative marks in your credit history, such as missed payments or bankruptcies. That can make it difficult to get approved for an unsecured credit card.\nIf that's the situation you're in, secured credit cards are worth exploring. They're different from unsecured cards in that borrowers are required to make an upfront, refundable security deposit. In most cases, your deposit determines your credit limit. And it provides the card issuer with peace of mind—if you miss enough payments, they can use that deposit to cover their losses.\nThe main benefit of using this type of credit card is that the issuer will likely report your activity and payments to the credit bureaus each month, which can help rebuild your credit and boost your score. (When you apply, make sure the card issuer reports your payment history to the credit bureaus, otherwise you won't get credit for your responsible use of the card.) If you maintain good credit habits by keeping debt balances low and paying every bill on time, eventually your credit score may improve enough that you're able to qualify for an unsecured credit card. Below are a few exceptional secured credit card options for those with poor credit.\n*   **Secured Mastercard® from Capital One**: Capital One's secured card has no annual fee and a very reasonable security deposit structure—you may be able to put down a refundable security deposit starting at $49 to get a $200 initial credit line. After six months of responsible use, you could be considered for a credit limit increase without having to make an extra deposit.\n*   **First Progress Platinum Prestige Mastercard® Secured Credit Card**: This secured credit card stands out for its low interest rate of 9.99% Variable variable, which isn't the norm for secured cards. You won't get any rewards, and it comes with a $49 annual fee, but you can potentially bump up your credit line at any time by making an additional deposit with approval from the card issuer.\n*   **The OpenSky® Secured Visa® Credit Card**: The The OpenSky® Secured Visa® Credit Card is a secured card that doesn't require a credit check. The card can also help you build your credit since your payment history will be reported to all three credit bureaus. The card has a $35 annual fee. END