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A List of the Best Credit Cards for a 400 Credit Score
Monday, 26 August 2019

 If you have bad credit and want a credit card, you should not worry. Check out this list of some of the best credit cards for people with a 400 credit score.

 Your credit has reached rock bottom. Because of this, you're having trouble securing a credit card. Unfortunately, this has created a catch-22 wherein you need to build your credit, but aren't being allowed to do so.

Fortunately, you're not entirely out of luck. There are bad creditcredit cards available, all of which can help get you back on track to building up your credit.

On the search for such a credit card? Then read on. We're going to list the best credit cards for 400 credit score or lower. 

The Best Credit Cards for 400 Credit Score 

When your credit score is low, you're going to have to pursue secured credit cards, in particular. These cards require a security deposit in order to be activated and are generally considered the best types of credit cards for bad credit. The best of them include the following. 

Capital One Secured Mastercard

One of the best bad-credit credit card options is the Capital One Secured Mastercard. You can obtain this card regardless of what your credit score is, making it a great option for those who are trying to build their credit back up. 

What the card requires instead of a credit score is a money deposit. Generally, you'll have to put down $200. Once you've put down this $200, you'll be given a $200 line of credit. 

From there, you'll work to make purchases and pay them off. After you've made 5 consecutive payments successfully, you'll have the option to increase your credit line. 

When using this card, you won't be charged an annual fee. The deposit is the only fee which will be levied against you, and -- provided that you make your payments in a timely manner-- you will eventually have it returned to you in full. 

Note, however, that this card can come with up to a 26.99% APR. This is a staggeringly high-interest rate, one which can put you in a financial hole if you're unable to make your payments. 

So, in essence, if you're going to apply for this card, make sure you're ready to spend responsibly. The point of it is to help you build your credit. If you can prove your ability to make necessary payments, you'll be rewarded with an increased credit score. 

First Progress Platinum Prestige Secured MasterCard 

Another solid credit card for those with a 400 credit score is the First Progress Platinum Prestige Secured MasterCard. Like the Capital One card reviewed above, it doesn't require one's credit score to be good in order to be obtained. Instead, it requires that you put down a deposit. 

At a minimum, you'll have to put down $200. At maximum, you can put down $2,000. Your line of credit will be dependent upon the amount of money you're able to put down initially. 

From there, you'll be expected to make your minimum payments on a monthly basis. Should you make your payments consistently, you might be given the option of a higher line of credit. 

Where this card really stands out is in its APR. Compared to other cards of its kind, its interest rate is exceedingly low, registering in at just 10.74%. So, while it will still accumulate interest on unpaid payments, it won't hurt you nearly as much as, say, the Capital One card reviewed above. 

Make note, however, that this card charges an annual fee of $49. Whereas you'll have the chance to get your deposit back, this fee will never be returned to you. 

All in all, this is a solid credit card for those looking to build their credit. If you lack confidence in your ability to make payments, it might very well be the best option. 

OpenSky Secured Visa Credit Card 

Next is the OpenSky Secured Visa Credit Card. This card is much like the Capital One and FirstProgress cards reviewed above, requiring a $200 deposit in order to be activated. 

Its APR sits at around 19.64%, making it quite a bit smaller than the APRs associated with many other secured credit cards. As such, it doesn't obliterate you for carrying a balance. 

Note, you will have to pay an annual fee in order to keep this card going. However, it's just $35, a very reasonable price compared to some of the other cards on the market. 

All in all, this is a solid card for those looking to boost their credit scores. While the CapitalOne and FirstProgress cards are arguably better, it's not a bad option to consider. 

Indigo Mastercard for Less Than Perfect Credit 

Last up is the Indigo Mastercard for Less Than Perfect Credit. This card is available to credit scores of all kinds, allowing even those in bankruptcy to apply for it. 
However, the catch is that you have to pay for it on a yearly basis. In the first year, you'll have to pay $75. In the years following, you'll have to pay $99. 

Fortunately, however, it doesn't require you to pay a deposit. This is in stark contrast to most other bad-credit credit cards. 

As far as perks go, this card is fairly limited. It has a high APR of 24.9%, meaning that you'll be fairly harshly penalized for not making your payments in full. Plus, it charges late fees of $39 for each payment that is not made by the due date. 

Truthfully, the only reason to apply for this credit card is that you're low on money and need to start building your credit now. As long as you have a $200 deposit to put down, you can find cards which outdo this one. 

Live Your Best Life With Amo Life

And with that, we've reviewed the best credit cards for 400 credit score. If you're looking to build your credit back up again, these cards will help you to do so. 
Looking to live your best life? Amo Life is here to help you do so. Our site is loaded with life tips, helping you thrive in terms of your health, your finances, your romantic life, and otherwise. 

Browse our selection of articles now! 
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