The 3 best secured credit cards with no annual fees

Build or rebuild credit without worrying about a yearly charge.

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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.

Secured credit cards with no annual fees

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®

Capital One® Secured Mastercard®
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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.

Best secured card for no credit: Citi® Secured Mastercard®

Citi® Secured Mastercard®
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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.

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

DCU Visa® Platinum Secured Credit Card

The DCU Visa® Platinum Secured Credit Card offers a relatively low 11.5% 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.

How we selected our top cards

When choosing our secured credit card with no annual fee picks, we looked at a few features, including annual fee, security deposit and any other perks that a consumer might find appealing in a secured card. Those cards that outperformed the others in a given category were chosen for our list.

What’s changed in 2020

There are plenty of secured credit cards out there but relatively few great ones. Our list remains unchanged this year thanks to the continued solid performance of these cards.

Our pick for a no annual fee secured card

Citi® Secured Mastercard®

  • The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly.
  • Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online.
  • Use your card anywhere Mastercard® is accepted — worldwide.
  • A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200).
  • Get help staying on track with Auto Pay and account alerts.
  • With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.
  • Manage your account 24/7 online, by phone, or in our mobile app.
  • The standard variable APR for Citi Flex Plan is 22.49%. Citi Flex Plan offers are made available at Citi's discretion.
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Compare other secured credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Citi® Secured Mastercard®
Starting at $200
22.49% variable
A no annual fee secured card for people who are new to credit or have limited credit history with a fair to average credit score.
First Progress Platinum Select MasterCard® Secured Credit Card
Starting at $200
13.99% variable
No minimum credit score and no credit history required.
OpenSky® Secured Visa® Credit Card
Starting at $200
18.89% variable
A secured Visa® credit card that helps you build your credit quickly.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
No credit check is required for this secured card. Make a deposit of at least $200 to open this card and get a low 9.99% fixed APR on purchases.
Capital One® Secured Mastercard®
$49, $99 or $200
26.99% variable
Get access to a higher credit line after making your first 5 monthly payments on time.

Compare up to 4 providers

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.

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