Credit Cards for a 500 Credit Score: What Can You Get?

With a 500 credit score, you can usually still get a credit card, most often a secured card or a credit-builder card. These cards tend to have lower limits, higher fees and fewer rewards than cards for good credit. Before you apply, check your credit reports for errors that may be holding your score down.

A 500 score sits in the “poor” FICO range, so the cards open to you look very different from those available at 700. Some charge annual fees that eat into whatever limit you receive. If you are also comparing loans, our guide to loan options with a 500 credit score covers what lenders look for.

Not every negative entry on your report may be accurate. A 2013 FTC study found that 1 in 5 consumers had an error on at least one of their credit reports. Credit Saint specialists review credit reports and, with your authorization, may challenge information that appears inaccurate, misleading or unverifiable with the credit bureaus.

What Score Do Most Credit Cards Require?

Most rewards cards, travel cards and low-interest cards look for scores of 670 or above. Balance transfer cards with promotional rates typically look for 700 or higher. At 500, the cards most likely to approve you are built for people who are rebuilding or establishing credit.

That is not a dead end. It does mean understanding what you’re looking at, and making sure your score isn’t lower than it should be because of errors on your report. Our guide to credit score ranges explains where 500 falls and what each range means to lenders.

Which Credit Cards Can You Get With a 500 Score?

Not every credit product is off the table at 500. These are the options most likely to be within reach, along with what each one involves.

• Secured cards are the most widely available option at this score level. You pay a refundable deposit, usually equal to your credit limit, which the issuer holds as collateral. Because the issuer takes on less risk, approval is more likely. Used responsibly, a secured card may help you build a record of on-time payments.
• Credit-builder cards are unsecured cards designed for people with poor or limited credit. They often carry higher APRs and annual fees in exchange for easier approval. Read every fee before you apply.
• Store and retail cards sometimes have lower approval thresholds than general credit cards. They usually carry high interest rates and work only with specific retailers.
• Prepaid debit cards are sometimes marketed next to credit-building products, but they are not credit cards. Prepaid card activity is generally not reported to the credit bureaus and does not affect your score.

Could Errors Be Affecting Your 500 Score?

A 500 score may not fully reflect your actual credit history. Credit report errors are documented, common and disputable. The Fair Credit Reporting Act (FCRA) gives you the right to dispute information that is inaccurate, incomplete or unverifiable, at no cost.

A good first step is getting all three of your credit reports and reading each entry. If something looks wrong, our guide on how to dispute items on your credit report walks through the process.

This isn’t about disputing accurate information. It’s about making sure your report correctly reflects your history, because your card options, interest rates and credit limits all follow from it.

How Credit Saint Works

Credit Saint reviews your reports from Equifax, Experian and TransUnion and identifies entries that may be inaccurate or unverifiable. You review the findings and authorize each challenge. Our specialists then dispute those entries with the bureaus and monitor responses throughout the investigation process.

Depending on your situation, our team works with you through one of three service levels:

• Credit Polish: for people beginning their credit journey
• Credit Remodel: for moderate challenges with several reporting concerns
• Clean Slate: for complex situations that need the most comprehensive approach

Every plan includes our 90-day money-back guarantee.

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Frequently Asked Questions

Start With a Look at Your Credit Reports

A 500 credit score limits your card choices and makes the cards you can get more expensive. If errors or unverifiable entries are part of the picture, they are worth addressing before you apply.

Credit Saint has helped 350,000+ people since 2007. We can review your reports and challenge items that may be inaccurate, unverifiable or outdated with Equifax, Experian and TransUnion. You review and authorize, and our specialists handle the process from there.