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Build or rebuild credit without worrying about a yearly charge.
If you’re using a secured credit card, you’re probably interested in building or rebuilding your credit. That’s why having to pay an annual fee for a secured card can be a bitter pill to swallow. Fortunately, there are a few secured cards with no annual fees that even come with some rewards and perks.
Here are our favorite picks for secured credit cards with no annual fees.
Top secured credit cards with no annual fees
We highly recommend looking into these secured cards if you don’t want to pay an annual fee: the Capital One® Secured Mastercard®, and the Citi® Secured Mastercard®.
We’ve scoured the market looking for the best secured credit cards without annual fees. Among these $0 annual fee cards, we’ve also highlighted factors that make these cards stand out.
Best secured card for lowest deposit: Capital One® Secured Mastercard®
With a secured card, your credit limit will typically equal your security deposit. Not so with the Capital One® Secured Mastercard®. Depending on your credit, you may be able to deposit only $49 or $99 and still get a credit line of $200.
Various minimum deposits. Depending on your credit, you’ll make a cash deposit of $49, $99 or $200 to activate your card.
Get an 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.
Best secured card for no credit: Citi® Secured Mastercard®
If you’re not rebuilding your credit score from past mistakes and you need to start fresh, the Citi® Secured Mastercard® is a great, straightforward secured credit card to get the ball rolling. Fees are minimal, you won’t need to concern yourself with rewards and your security deposit starts as low as $200.
Standard interest rate. You’ll enjoy a fairly standard 24.74% variable APR for purchases and balance transfers.
Mastercard perks. Get purchase benefits, travel insurance, roadside assistance and more.
Online account features. Autopay, flexible pay dates and alerts to help you stay on track.
Minimum deposit. Deposit of $200.
Other options
For an honorable mention, we have the DCU Visa® Platinum Secured Credit Card from Digital Federal Credit Union. Though its edged out by our contenders above, it’s worth comparing all your no-annual-fee secured card options.
DCU Visa® Platinum Secured Credit Card
The DCU Visa® Platinum Secured Credit Card offers a relatively low 13.5% variable APR for purchases, balance transfers and cash advances.
The card doesn’t have rewards. But it’s still a reliable no-annual-fee choice, as long as you’re willing to join the Digital Federal Credit Union.
Low interest rate. Enjoy a low 13.5% variable 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 borrow against your DCU savings account.
Compare other secured credit cards
Bottom line
Picking a secured card with no annual fee is a great way to make the process of building credit as easy and pain-free as possible. Compare more secured credit cards for even more options for building your credit score.
Frequently asked questions
Most of the time, your provider won’t pay interest on your security deposit.
Yes. You can use it like any other credit card, as long as you stay within your credit limit.
Many secured-card providers will check your credit. For that reason, you may be declined if your credit score is too low. If you’re declined for a secured card, consider applying with a provider that doesn’t check credit.
Steven Dashiell is a staff writer at finder.com. He wields nearly a decade of research and reporting experience to help you embrace and maximize your credit card life. Prior to working at Finder, Steve served as reporter and editor for several healthcare newsletters, offering best practices and guides to help caregivers best protect their patients' health. When not writing, he enjoys creating art, exploring nature and chasing his next big interest.
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finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
