Defaulting on credit card payments, loan repayments etc. could invite a bad credit score for any individual. With the rise in the number of credit card users in the country, there is a huge defaulters list which is also on the rise. This is causing a lot of bank or credit providers rejecting credit card applications especially of those individuals who have had a bad credit history. There could be various reasons why a person would have bad credit such as negligence, financial emergency, lack of pay etc.

So, is there any instant credit card approval for bad credit no deposit? Here is the list of top credit cards with assured approval for bad credit. 

List of Credit Cards Offered for Applicants with Bad Credit

  1. Andhra Bank – Signature
  2. Development Credit Bank – Payless
  3. Central Bank – Aspire
  4. ICICI Bank – Coral, Instant Platinum
  5. Axis Bank – Insta Easy
  6. Bank of Baroda – Assure
  7. Union Bank of India – Usecure
  8. State Bank of India – Unnati, Advantage Plus
  9. Kotak Mahindra Bank – Solaris, Aqua Gold, Galaxia
  10. YES Bank – Prosperity Reward Plus

Why Secured Credit Cards Work for Bad Credit?

Secured credit cards help in rebuilding the credit history of an applicant with a bad credit score. This credit history becomes of utmost importance in deciding the fate of the applicant’s future credit requirements. Any bank will always evaluate an applicant’s credit score and gauge the repayment capacity of the individual before approving or denying a credit application. Credit scores are directly correlated to the credit approval chances and also extent of approval in future. 

Important Aspects About Instant Credit Card Approval for Bad Credit No Deposit

A lot of people get tempted by various offers made by banks around instant credit card approval. However, it is important to read the fine print before applying for these to ensure that they will end up benefiting the credit score as against harming it. Applicants must also clarify if the annual fees of such cards are set to remain the same or may vary every year. Some of the banks even charge for ATM withdrawals made using such credit cards, hence it is best to get this clarified and in writing. 

Instant credit card approval for bad credit no deposit can be beneficial to those who have a poor credit history, however, the late fees on such cards could be very heavy. Also, any further default on payments of these cards could further damage one’s credit score. 

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