By : 
Mr Credit Card
Mr Credit Card
Below is a list of unsecured credit card that will give you $700 credit limit. When you have bad credit, getting an unsecured credit card with $700 limit may not be easy and you need certain credit scores to accomplish this. Though it is not uncommon to get unsecured credit cards with only $300 credit limit, a $700 credit limit may not be out of reach for many of you.
Top Recommended $700 Credit Limit Credit Cards
Arro Mastercard - No Hard Inquiries
. What is Arro Mastercard - The Arro Mastercard that a very rare unsecured credit card that does not perform any hard inquiries and nor does it rely on your FICO scores to get approved. This is our top recommendation for those with poor credit looking for an unsecured credit card because it has the lowest fee. During the first year, you only pay $1/month (which is $12 a year). From the second year onwards, you pay $3/month (which works out to only $36 a year). The APR is also incredically low at 16%.
Instead of relying on your FICO score, Arro requires you to have an income of at least $1,800 a month and a positive bank balance of at least $50. To verify this, Arro requires you to link your main bank account to them via PLAID. Your starting credit limit depends on your average balance in your bank account. If you consistently have a low balance, you may only get $50 - $200 in starting credit limit. But Arro allows you to get your credit limit increased through taking online financial courses on their app. So increasing your credit limit is within your control. The maximum credit limit you can get is $2,500.
Why We Like and Recommend This Card? - The Arro Mastercard is our top recommended unsecured credit cards for those with poor credit because they do not rely on FICO scores to approve you. You simply need to be able to meet the $1,800 monthly income, positive bank balance requirements and be willing to link your bank account via PLAID to Arro. Credit limit increase is also within your control and the APR is very low any type of credit card. Though the minimum starting credit limit is lower than the $700 threshold, there is a very good chance you will surpass that limit if you have a healthy bank balance. And even if you don't get $700 limit from the get go, you can simply take Arro's financial literacy courses and reach that limit.
Approval Requirements - Arro does not rely on FICO scores and there is no hard inquiry. You need an monthly income of $1,800 and a minimum bank balance of $50. You also have to link your bank account to PLAID. Your credit limits will be based on the cash flow in bank cash account.
Fees - $1/month for the first year, then $3/month.
APR - 16%.
Credit Limit - $50 - $200, maximum credit is $2,500.
FICO score needed - Arro does not look at FICO scores. You need a minimum monthly income of $1,800 and a minimum positive bank balance of $50.
Upgrade Select Visa - $500 - $2,500 Credit Limit
What is Upgrade Select Visa? - The Upgrade Select Visa is one of 4 credit cards from Upgrade and it specifically targets those with slightly poorer credit. Applicants who get approved for the Upgrade Select Visa have FICO scores ranging from 580 to 640. Upgrade acts like a line of credit in a credit card. When you apply and get approved, you will be given an APR and a term maturity (up to 3 years). When you use the card (or make a "draw" as Upgrade would call it), you will be paying back that "draw" in equal installments over the term maturity. This ensure that you will never just pay the minimum and rack up credit card debt.
Why We Like and Recommend This Card? - We like the Upgrade Select Visa because it $39 annual fee is very low for an unsecured credit card that target those with poor credit in the 580 to 640 FICO score range. They also do not charge any monthly fee or any one-time program fee. The maximum credit limit of of $2,500 is also very generous for such a card. Though the minimum starting credit limit is $500 (lower than the $700 threshold we have imposed for cards on this page), it's low annual fee and potential for credit limit increases is the reason why this card is in our TOP recommendation.
Annual Fee - $39
Credit Limit - $500 to $2,500
FICO Score Needed - 580-660. You would need a FICO score of at least 580 to get approved.
Reflex Mastercard and Surge Mastercard
Our 3rd and 4th recommendation for credit cards with $700 are actually two identical credit cards from Continental Finance. They are the Reflex and Surge Mastercard. You have to go through a pre-approval process and if you are pre-approved, you may get an offer either $300, $500, $750 or $1,000 credit limit. We will specifically focus on the $750 credit limit of this card.
Characteristics of the Reflex and Surge Mastercard $750 Credit Limit Version - The most distinct feature of both the Reflex and Surge Mastercard $750 version is that after paying your first 6 bills on time, your credit limit will be doubled to $1,500. Both Reflex and Surge only charge a $125 annual fee. There is no monthly fee or one-time program fee that many unsecured credit cards targeting people with bad credit charge.
Why We Like the Reflex and Surge Mastercard - We like both the Reflex and Surge Mastercard $750 credit limit version because the $750 limit will double to $1,500 in only 6 months if you pay all your bills on time. Reflex and Surge also have a track record of credit limit increase and the maximum credit limit you can get on these two cards is $4,000. The only reasom why these two cards are not on the top of our list is because of the $125 annual fee which is higher than the Upgrade Select Visa and Arro Mastercard.
Annual Fee - $125
Credit Limits - Starts at $750, then doubles to $1,500 after paying on-time for first 6 months.
Total Fee to Credit Limit Ratio (after credit limit increase to $1,500) - $125/$1,500 = 8.3%
$700 Limit Credit Cards That Have Higher Fees
The cards below include the ones from Atlanticus (Imagine Visa, Aspire Mastercard and Fortiva Mastercard), Concora Credit (Imagine, Destiny and Milestone Mastercard) and the First Premier Bank Mastercard.
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Card Annual Fee (AF) Monthly Fee (MF) Program Fee (PF) Credit Limit (CL) Fees/Credit Limit Ratio (TFCL) |
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Milestone Mastercard $700 Annual Fee = Y1 = $175, Y2 = $49 Monthly Fee = Y1 = $0, then $12.50/month = $150/year Program Fee = $0 Credit Limit = $700 TFCL Ratio = $175/$700 = 25% Y2 = $(49 + 150)/$700 = 28.43% |
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Destiny Mastercard $500 Annual Fee = Y1 = $175, Y2 = $49 Monthly Fee = Y1 = $0, then $12.50/month = $150/year Program Fee = $0 Credit Limit = $700 TFCL Ratio = $175/$700 = 25% Y2 = $(49 + 150)/$700 = 28.43% |
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Indigo Mastercard $700 Annual Fee = Y1 = $175, Y2 = $49 Monthly Fee = Y1 = $0, then $12.50/month = $150/year Program Fee = $0 Credit Limit = $700 TFCL Ratio = $175/$700 = 25% Y2 = $(49 + 150)/$700 = 28.43% |
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Imagine Visa $700 Annual Fee = Y1 = $175, Y2 = $49 Monthly Fee = Y1 = $0, then $12.50/month = $150/year Program Fee = $0 Credit Limit = $700 TFCL Ratio = $175/$700 = 25% Y2 = $(49 + 150)/$700 = 28.43% |
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Fortiva Mastercard $500 Annual Fee = Y1 = $175, Y2 = $49 Monthly Fee = Y1 = $0, then $12.50/month = $150/year Program Fee = $0 Credit Limit = $700 TFCL Ratio = $175/$700 = 25% Y2 = $(49 + 150)/$700 = 28.43% |
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Aspire $700 Annual Fee = Y1 = $175, Y2 = $49 Monthly Fee = Y1 = $0, then $12.50/month = $150/year Program Fee = $0 Credit Limit = $700 TFCL Ratio = $175/$700 = 25% Y2 = $(49 + 150)/$700 = 28.43% |
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First Premier $700 Annual Fee = Y1 = $79, Y2 = $49 Monthly Fee = Y1 = $8/month ($96 annually), Y2 = $10.40/month = $124.80/Year Program Fee = $55 Credit Limit = $700 TFCL Ratio = $(79 + 95 + 96)/$700 = 38.57% Y2 = $(49 + 124.80)/$700 = 24.82% |