Here’s an easy rule of thumb when it comes to getting approved for a credit card: the higher the interest rate on the card, the easier it is to be approved. Makes sense, right? Credit card companies charge those with shaky credit higher interest rates. So, you can deduce which cards will be easier to get by looking at their interest rates. It’s not foolproof, but it’s close.
Based on this theory, below you’ll find a short list of credit cards for those seeking easy approval:
- Capital One Platinum – This card is geared toward those with less-than-perfect credit. It has a 24.99% interest rate but no annual fee. It should be fairly easy to get approved for this one.
- JCPenney Credit Card (and other store credit cards) – Department store credit cards are often easy to be approved for, making them a common choice for those seeking credit for the first time. However, they have high interest rates — the JCPenney credit card has a 26.99% rate! Other store cards offering easy approval but extreme interest rates: Macy’s, Gap, TJ Maxx, and more.
- ExxonMobil Credit Card (and other gas credit cards) – Credit cards with gas rebates are also often easy to get because they have higher interest rates. The BP credit cards are one example, but also see Chevron/Texaco, Citgo, Phillips 66, Shell, Sunoco.
- Staples Credit Card – This office supply credit card is pretty easy to get approved for, but you’ll pay a 28.99% interest rate if you carry any balances on it, so be sure to pay it off every month!