Compare the best secured credit cards of 2018 | finder.com

The best secured credit cards of 2018

Build your credit with these top secured credit cards.

A secured credit card is an excellent choice if you need to take back control of your credit. You can get one easily, and many good ones come with no annual fees.

To speed up your search, we’ve assembled the best secured credit cards on the market. Whether you’re looking for a low minimum deposit, low APR or rewards for spending, there’s a card that can work for you.

OpenSky® Secured Visa® Credit Card

Our Pick: OpenSky® Secured Visa® Credit Card

The OpenSky® Secured Visa® is great for people that are in need of simplicity with their credit card, need to build credit or improve a poor credit score.

  • $35 annual fee
  • 18.64% variable APR
  • $200 minimum deposit

    The best secured credit cards of 2018

    Name US Annual Fee Min credit limit US APR for Purchases ( Purchase Call to action
    Discover it® Secured Credit Card $0 $200 24.24% variable More info
    Capital One Secured Mastercard $0 $200 24.99% variable More info
    DCU Visa® Platinum Secured Credit Card $0 $5 12.75% variable More info
    State Department Federal Credit Union (SDFCU) Savings Secured Visa Platinum Card $0 $250 13.24% variable More info
    OpenSky® Secured Visa® Credit Card $35 $200 18.64% variable Go to site More info

    Compare Secured Cards by Minimum Deposit

    1. OpenSky® Secured Visa® Credit Card

    OpenSky® Secured Visa® Credit Card

    • Our pick for poor credit and no bank account

    The vast majority of secured cards require a credit check, so you may have trouble getting one if your credit score is too low.

    To get around that requirement, apply for the OpenSky® Secured Visa® Credit Card — it comes with zero credit checks. You will need to pay a $35 annual fee, but it could be worth paying for the chance to rebuild your credit.

    Details

    • Minimum deposit. $200
    • No credit check.
    • Watch out for a $35 annual fee.

    2. Discover it® Secured Credit Card

    Discover It for Students

    • Our pick for best rewards and cash back

    The No. 1 reason to get a secured card is to build credit, and rewards are usually an afterthought.

    That’s where the Discover it Secured Card is different. It offers 2% cash back on dining and gas (up to $1,000 combined each quarter) and 1% cash back on everything else. To sweeten the deal, Discover will match all of the cash back you earn in your first card year. There’s no contest here — you won’t find better rewards from a secured card anywhere.

    Further, if you’re looking to upgrade to an unsecured card, you may have a chance with the Discover it card. Discover will re-evaluate your account after seven months and may return your security deposit at that time.

    Details

    • No annual fee.
    • Cash back. Earn 2% cash back at restaurants and gas stations (up to $1,000 each quarter) and 1% on everything else.
    • First-year sweetener. Discover will match the cash back you earn in your first year.
    • Intro balance transfer APR. 10.99% for 6 months after your first transfer.
    • Minimum deposit. $200
    • Watch out for a high purchase APR and potentially limited acceptance for your Discover card.

    3. Secured Mastercard® from Capital One®

    • Our pick for lowest minimum deposit with a major card provider

    If you’re looking for a low minimum deposit from a major credit card provider, take a look at the Secured Mastercard from Capital One. Depending on your credit, you could qualify to deposit only $49 or $99 and still get a $200 credit limit. And you’ll get a higher credit line if you pay your first five monthly payments on time.

    Details

    • No annual fee.
    • Various minimum deposits. Depending on your credit, you’ll make a cash deposit of $49, $99 or $200 to activate your card.
    • Upgrade with timely payments. After you make your first five monthly payments on time, you’ll get a higher credit line.
    • Platinum Mastercard perks. Get purchase benefits, travel insurance, roadside assistance and more.
    • Minimum deposit. $49, $99 or $200, depending on credit.
    • Watch out for a high purchase APR and no balance transfers.

    4. Digital Federal Credit Union Visa® Platinum Secured Credit Card

    DCU Secured Card

    • Our pick for lowest minimum deposit with low interest and fees

    A downside to secured credit cards is that you have to put down a security deposit. It doesn’t help that virtually every provider requires a deposit of at least a few hundred dollars.

    The Digital Federal Credit Union (DCU) is an anomaly here. The only form of minimum deposit you have to pay for their secured card is $5 to open a savings account. Of course, you’ll need a membership with the credit union, which you can get by joining Reach Out for Schools for $10 when you open a DCU account. That means you can open a secured card for as low as $15. Learn more about joining the DCU.

    Details

    • No annual fee.
    • Low interest rate. 12.25% APR for purchases, balance transfers and cash advances.
    • Light on the fees. No balance transfer, cash advance or foreign transaction fees.
    • Minimum deposit. None, you must open a DCU savings account with a $5 minimum.
    • Watch out for the required membership with Digital Federal Credit Union.

    5. State Department Federal Credit Union Savings Secured Visa

    State Department EMV Visa Platinum Secured

    • Our pick for low APR

    Because they’re geared toward people with less-than-perfect credit, secured cards typically come with high APRs.

    The SDFCU Savings Secured Visa Platinum Card goes the other direction, offering a 13.24% variable for purchases, cash advances and balance transfers. That’s not just low for secured cards — it’s low for credit cards in general.

    To get this card, you need to become a member of the State Department Federal Credit Union. To do that, you can join the American Consumer Council for $5. You also need to open an SDFCU savings account with a minimum of $1. Learn more about how to join the SDFCU.

    Details

    • No annual fee.
    • Low interest rate. 13.24% variable for purchases, balance transfers and cash advances.
    • Rewards. Earn one Flexpoint for every dollar you spend, and earn five Flexpoints when you pay through bill pay.
    • Fewer fees. No balance transfer or foreign transaction fees.
    • Minimum deposit. $250
    • Watch out for required membership with the State Department Federal Credit Union.

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