The 3 best secured credit cards with no annual fees

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®

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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.

• The perks

  • 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®

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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.

• The perks

  • Standard interest rate.
    You’ll enjoy a fairly standard 23.99% 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

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The DCU Visa® Platinum Secured Credit Card offers a relatively low 13% 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.

• The perks

  • Low interest rate.
    Enjoy a low 13% 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.

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 23.99%. Citi Flex Plan offers are made available at Citi’s discretion.

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Compare other secured credit cards

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Name	Product	Filter values	Minimum deposit required	Purchase APR	Annual fee	Recommended minimum credit score
Citi® Secured Mastercard®			Starting at $200	23.99% variable	$0	580	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.	Apply now View details	Compare	loading Fetching your data...
OpenSky® Secured Visa® Credit Card			Starting at $200	18.89% variable	$35	300	A secured Visa® credit card that helps you build your credit quickly.	Apply now View details	Compare	loading Fetching your data...
Applied Bank® Secured Visa® Gold Preferred® Credit Card			Starting at $200	9.99% fixed	$48	300	This secured card can help you rebuild your credit with an initial deposit of $200 to $1,000.	Apply now View details	Compare	loading Fetching your data...
CardMatch™ from creditcards.com			See terms	See issuer's website	See terms	300	Can't decide on a card? Get personalized credit card offers with CardMatch™.	See offer View details	Compare	loading Fetching your data...
First Progress Platinum Elite MasterCard® Secured Credit Card			Starting at $200	19.99% variable	$29	300	Build your credit with all three major credit bureaus.	Apply now View details	Compare	loading Fetching your data...
Green Dot primor® Mastercard® Classic Secured Credit Card			Starting at $200	13.99% fixed	$39	300	Designed for those with little or poor credit, the Green Dot primor® Mastercard® Classic Secured Credit Card has no minimum credit score requirements and no processing or application fees to worry about.	Apply now View details	Compare	loading Fetching your data...
The First Latitude MasterCard® Secured Credit Card			Starting at $200	25.99% variable	$0	300	No credit history or minimum credit score required for approval.	Apply now View details	Compare	loading Fetching your data...
Capital One® Secured Mastercard®			$49, $99 or $200	26.74% variable	$0	580	Get access to a higher credit line after making your first 5 monthly payments on time.	See offer View details	Compare	loading Fetching your data...

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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

• When I make a security deposit, will it earn interest?

  Most of the time, your provider won’t pay interest on your security deposit.

• Is a secured credit card a 'normal' credit card?

  Yes. You can use it like any other credit card, as long as you stay within your credit limit.

• Will card providers check my credit?

  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.