Quick look: Best secured cards with no annual fee
- Capital One® Secured Mastercard®: Best secured card for lowest deposit
- Citi® Secured Mastercard®: Best secured card for no credit
- DCU Visa® Platinum Secured Credit Card: Honorable mention
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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.
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.
Here are our favorite picks for 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.
Annual fee | $0 |
---|---|
Minimum deposit required | $49, $99 or $200 |
Purchase APR | 26.99% variable |
Balance transfer APR | 26.99% variable |
Recommended minimum credit score | 580 |
Annual fee | $0 |
---|---|
Minimum deposit required | Starting at $200 |
Purchase APR | 22.49% variable |
Balance transfer APR | 22.49% variable |
Recommended minimum credit score |
Annual fee | $0 |
---|---|
Minimum deposit required | Starting at $500 |
Purchase APR | 11.5% variable |
Balance transfer APR | 11.5% variable |
Recommended minimum credit score | 300 |
A card with no annual fee offers a few advantages:
If you want to build credit without paying high fees and interest rates, a secured card is a solid option. You also need to be able to put down an upfront secured deposit to use the card.
There are unsecured cards for building credit where you don’t need to make a secured deposit. But they may cost you more in the long run because of the high annual fee and host of other fees that could make building credit difficult.
No, not necessarily. Many secured cards feature annual fees to offset the possibility of a cardholder default. You might think of an annual fee as a way of “buying in” to the opportunity to build your credit. As such, an annual fee secured credit card won’t offer you a particular advantage over a no annual fee secured card.
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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