Credit Cards With $2000 Limits: Getting approved for a credit card with a $2000 limit can be a challenge, especially if you have a limited credit history. However, there are several good options out there for people looking for a credit card with a $2,000 limit that offers guaranteed approval. Here is a look at 10 of the top credit cards with $2000 limits that are easier to get approved for.
Credit cards with $2000 limits are entry-level cards that are often marketed to consumers just starting to establish credit. A $2000 limit provides a reasonable amount of spending power for daily purchases and paying bills, without allowing so much available credit that the cardholder could get into serious financial trouble.
These starter credit cards help consumers begin building a credit history and credit score. They tend to have higher interest rates and fewer rewards compared to premium cards. However, using a $2000 limit card responsibly for 6-12 months can help qualify the consumer for better credit card offers in the future. Overall, $2000 credit cards play an important role as many people’s first step in accessing revolving credit and using it wisely.
Here is the list of 10 Best Credit Cards With $2000 Limit Guaranteed Approval
Discover it Secured Credit Card
The Discover it Secured Credit Card tops the list when it comes to credit cards that offer guaranteed approval with a $2,000 limit. This card requires a refundable security deposit to open the account, typically $200, which also becomes your credit limit. After making your first 7 monthly payments on time, Discover will likely upgrade your card to an unsecured card and refund your deposit. This card earns 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter) and 1% cash back on all other purchases. There is no annual fee for this card.
Capital One Platinum Credit Card
Capital One is known for approving consumers with limited credit history for the Platinum Credit Card. This card doesn’t charge an annual fee and offers a preset credit limit of $2,000 for those who qualify. Cardholders earn 1.5% cash back on all purchases with no cap on the amount they can earn. This can be a great starter card to build your credit. Pay your bill on time each month and you may qualify for a higher credit line or graduate to a better rewards card in as little as 6 months.
Petal 2 Visa Credit Card
The Petal 2 Visa Credit Card is specifically designed for those with limited credit history. It requires no security deposit and yet is easy to qualify for. The standard credit limit offered is $500 to $2000 based on your qualifications. Cardholders earn 1% to 1.5% cash back on every purchase and there are no fees. Petal uses your bank account history – not just your credit reports – to determine if you qualify. Making on-time payments can quickly help build your credit score.
The Surge Mastercard by Celtic Bank targets consumers with bad credit or limited credit history by guaranteeing approval for the card and a $2,000 initial credit limit. This card charges high fees, including an annual fee of $125, a monthly maintenance fee of $15.50, and a cash advance fee. However, it does offer the opportunity to rebuild your credit by making your payments on time each month. After making 12 monthly payments, cardholders may qualify for an unsecured card.
First Access Visa Credit Card
The First Access Visa Credit Card is part of the OpenSky Secured Visa credit card program. With this card, you’ll make a refundable security deposit of $2,000 to open the account and receive a $2000 initial credit limit. There is no credit check required. This card doesn’t offer any rewards, but by making your payments on time for 12 months you can earn an unsecured card. There is an annual fee of $35 to $95 for this secured card.
Indigo Platinum Mastercard
The Indigo Platinum Mastercard offers a guaranteed initial credit limit of $2000 for those who meet the basic approval criteria. There is no security deposit required. This card is designed for those with less-than-perfect credit. While it does charge an annual fee of $99, responsible use of the card and making consistent on-time payments are rewarded over time with higher credit limits. Cardholders also receive a free monthly credit score and credit monitoring.
First Premier Bank Secured Mastercard
The First Premier Bank Secured Mastercard guarantees approval by requiring an upfront security deposit. Your initial credit limit will match the deposit amount, so depositing $2000 will get you a $2,000 limit. The card earns 1% cash back on gas and grocery purchases, although there are several fees involved including an annual fee, monthly servicing fee, and processing fees for each transaction. Timely payments can result in approval for an unsecured card in as little as 9 months.
Milestone Gold Mastercard
The Milestone Gold Mastercard also provides pre-approval for those with bad credit and requires a refundable deposit to secure the account. The minimum security deposit is $500, so with a $2000 deposit, you can obtain a $2000 initial credit limit. Timely payments for 7-12 months will allow you to graduate with an unsecured Milestone Platinum Mastercard. This card tacks on several fees, so be sure to read the fine print.
For a credit card with guaranteed approval and no security deposit, the Fit Mastercard is a decent option. The standard credit limit is $2000. Primary cardholders can add authorized users over age 15 to help build their credit. There is an annual fee of $59 and fairly high purchase and cash advance fees, but the card reports to all three credit bureaus to help build your credit profile. Timely payments may qualify you for a higher credit line and lower interest rate.
Lastly, the Reflex Mastercard by Celtic Bank offers guaranteed approval for applicants with any type of credit profile. It requires no upfront security deposit. The initial credit limit is $2000 for those who qualify, and cardholders can receive a credit line increase after making just 5 months of on-time payments. However, there are very high fees including an annual fee of $170 and a monthly maintenance fee of $16.50 after the first year. But if you need to rebuild your credit, it’s an option worth considering.
The Bottom Line
Rebuilding or establishing credit with a $2,000 limit credit card is achievable even if you have limited credit history. Cards like the Discover it Secured, Petal 2 Visa, and Capital One Platinum should be top options since they offer opportunities to graduate to unsecured cards. Some secured cards require upfront deposits but also provide a path forward. Just be mindful of high fees on some options and make payments on time to build your credit.
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