Finder’s credit card experts spent hundreds of hours evaluating and comparing nearly 100 secured cards to find the top-performing secured cards within seven categories. We considered features such as: credit check requirements, credit reporting, fees, deposit requirements and interest rates. Finder’s experts provide unbiased, trustworthy evaluations of all secured credit cards and providers, not just those we partner with on the site.
Build your credit score with your bill payments
Use the StellarFi app to build your credit score using the bills you're already paying. Increase your credit score with everyday bill payments, like your phone bill, rent, gym membership, and streaming services.
- No hard credit pull, no interest fees, or deposit
- Connect your existing primary bank account and build your score with your monthly bills
- Reports to Experian and Equifax
- Try for $0.99 for 30 days and get a $5 welcome bonus
Best secured card for no credit check
OpenSky® Secured Visa® Credit Card
Most credit-building cards will check your credit when you apply. It knocks a few points off your credit score, which can add up quickly if you apply for too many cards in a short period of time. Luckily, with the OpenSky® Secured Visa® Credit Card, you don't have to worry about that. Your approval is based on your ID and finances rather than your credit score. The OpenSky® Secured Visa® Credit Card also comes with a reasonable purchase APR and it reports to all three major credit bureaus.
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Pros
- No credit check. OpenSky uses your ID to confirm your identity and it won't do a credit pull.
- Build your credit. The card reports to all three major credit bureaus, which can help strengthen your credit. All you have to do is keep your utilization low and make timely payments.
- Credit line. You have full control over your credit line, as it's the sum of your security deposit. You can make a deposit from $200 up to $3,000.
Cons
- Annual fee. The card comes with a $35 annual fee. A small price to pay for no credit check.
- Foreign transaction fee. Every transaction made abroad or online with foreign merchants will cost you 3% of the amount.
- No rewards. You won't earn rewards on your purchases.
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| Annual fee | $35 |
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| Minimum deposit required | Starting at $200 |
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| Purchase APR | 25.64% variable |
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| Balance transfer APR | N/A |
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| Minimum credit score | 300 |
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| Minimum deposit required | Starting at $200 |
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| Purchase APR | 25.64% variable |
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| Annual fee | $35 |
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| Minimum credit score | 300 |
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Best secured card for low deposit and no annual fee
Capital One Platinum Secured Credit Card
With most secured credit cards, the amount you deposit acts as your credit line. But this card breaks the rules: Depending on your credit score, you can deposit $49, $99 or $200 and still get a $200 credit line. This is a great value if you think you have a reasonable credit score, as high security deposits can often act as major roadblocks to rebuilding credit.
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Pros
- No annual fee. This is one of the rare secured cards that has no annual fee.
- Low security deposit. Deposit either $49, $99 or $200 based on your creditworthiness and you may receive a $200 credit line without having to put down a security deposit of the same amount.
- Chance at a higher credit line. You'll automatically be considered for a higher credit line in as little as 6 months after opening the card.
Cons
- Secured deposit required. You must make a secured deposit to use the card.
- No rewards. You won't earn any rewards on your purchases with this card.
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| Annual fee | $0 |
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| Minimum deposit required | $49, $99 or $200 |
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| Purchase APR | 29.99% variable |
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| Balance transfer APR | 29.99% variable Balance Transfer Fee applies to balances transferred at a promotional rate (0% at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you) |
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| Minimum credit score | New / limited credit |
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| Minimum deposit required | $49, $99 or $200 |
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| Purchase APR | 29.99% variable |
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| Annual fee | $0 |
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| Minimum credit score | New / limited credit |
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Terms apply, see rates & fees
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Best secured card for signup bonus
This card offers the same signup bonus as you would earn with any other Discover card. Given that secured cards rarely offer signup bonuses, this is a great option to earn rewards on your purchases.
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Pros
- Signup bonus. At the end of your first year, Discover will match all of the cash back you’ve earned without any limits.
- Cash back. Earn 2% cash back at gas stations and restaurants on the first $1,000 in combined purchases each quarter. After that, and on all other purchases, earn 1% cash back.
- Credit reporting to the three major bureaus. Discover will report your payment history to the three major credit bureaus — TransUnion, Equifax and Experian. With consistent on-time payments, you’ll build your credit score.
- Possible security deposit return after eight months. After eight months, Discover will review your account every month. If they deem you’ve been a responsible cardholder, they may return your security deposit while you continue using your card. This effectively turns your secured card into an unsecured card.
Cons
- It hurts to pay late. Your first late fee is waived, but making subsequent late or returned payments could result in fees as high as $41.
- Time limit for balance transfers. If you want to take advantage of the intro balance transfer APR, your transfers must post to your account within the first months.
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| Annual fee | $0 |
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| Minimum deposit required | Starting at $200 |
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| Purchase APR | 28.24% variable |
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| Balance transfer APR | 10.99% intro for the first 6 months (then 27.99% variable) Balance transfer fee of 3% |
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| Minimum credit score | 300 |
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| Minimum deposit required | Starting at $200 |
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| Purchase APR | 28.24% variable |
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| Annual fee | $0 |
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| Minimum credit score | 300 |
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Best secured card for military members
nRewards® Secured Credit Card
This card features rewards on all purchases, no annual fee and a relatively low APR, all of which is rare with secured cards. However, only military personnel who are Navy Federal Credit Union members can apply for the card. On top of small reward opportunities, the Navy Federal Credit Union will also review your account after six months to potentially upgrade you to an unsecured card.
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Pros
- Rewards. Earn 1 point per dollar spent on all purchases. This may not seem like a spectacular rate, but for a credit-building card it's quite decent.
- No annual fee. There's no annual fee for the card.
- Few miscellaneous fees. There are no fees for balance transfers, foreign transactions or cash advances.
Cons
- Membership required. You'll need to be a NFCU member to qualify for this card.
- No intro APR period. The card doesn't have lower interest-rates period on purchases or balance transfers. But most secured cards don't have this perk anyway.
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| Annual fee | $0 |
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| Minimum deposit required | Starting at $200 |
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| Purchase APR | 18% variable |
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| Balance transfer APR | 18% variable |
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| Minimum credit score | 300 |
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| Minimum deposit required | Starting at $200 |
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| Purchase APR | 18% variable |
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| Annual fee | $0 |
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| Minimum credit score | 300 |
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Best secured card for cash back
Bank of America® Customized Cash Rewards Secured
No other secured card offers as heavy cashback rewards as the Bank of America® Customized Cash Rewards Secured. In essence, this is the same card as the unsecured version with the same name, except you can get this one with a lower credit score. If you're just as concerned with earning every bit of value from your purchases as you are raising your credit score, this card has you covered.
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Pros
- Cash back. Earn 3% cash back on one category you choose and 2% back at grocery stores and wholesale clubs on up to $2,500 each quarter. After reaching the cap and on all other purchases, earn 1% cash back. This is the highest rewards rate offered by a secured credit card.
- No annual fee. The card costs $0 to own, which is surprising considering the rewards it offers.
- Deposit return. Bank of America will monitor your account. Based on your card activity and credit score, you could get your deposit back, thus turning this card into an unsecured card.
Cons
- Foreign transaction fees. Every purchase made abroad or online with foreign merchants will cost you 3% of the amount.
- No welcome offer. Despite the generous rewards rate, there's no bonus you can earn upon signup.
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| Annual fee | $0 |
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| Minimum deposit required | Starting at $300 |
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| Purchase APR | 28.24% variable |
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| Balance transfer APR | 27.74% variable |
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| Minimum credit score | 300 |
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| Minimum deposit required | Starting at $300 |
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| Purchase APR | 28.24% variable |
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| Annual fee | $0 |
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| Minimum credit score | 300 |
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Best secured card for highest potential limit
U.S. Bank Secured Visa® Card
The amount you can spend on your secured card is limited by your secured deposit, which tends to max out at a few hundred dollars on most secured cards. However, this card has a maximum security deposit of $5,000 — the highest available on the market. A high deposit is useful if you want to focus on building credit, but still have a lot of essential purchases you need to make on your secured card.
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Pros
- Highest maximum secured deposit limit available. You can deposit anywhere from $300 to $5,000 in US Bank savings account to act as your credit limit. This is the highest maximum deposit available on the market.
- Choose your due date. U.S. Bank gives you the option to choose your due date, which gives you better payment flexibility.
- Deposit return. Bank of America will monitor your account. Based on your card activity and credit score, you could get your deposit back, thus turning this card into an unsecured card.
Cons
- No rewards. You won't earn any rewards with this card.
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| Annual fee | $0 |
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| Minimum deposit required | Starting at $300 |
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| Purchase APR | 28.74% variable |
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| Balance transfer APR | 28.74% variable |
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| Minimum credit score | 300 |
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| Minimum deposit required | Starting at $300 |
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| Purchase APR | 28.74% variable |
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| Annual fee | $0 |
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| Minimum credit score | 300 |
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Terms apply, see rates & fees
Best for balance transfers
UNITY Visa® Secured Credit Card
There aren't many secured credit cards on the market that also come with a balance transfer offer. While the UNITY Visa® Secured Credit Card isn't a 0% intro offer, you do get six months of lower interest rates to help you consolidate your debt you transfer to the card. This is handy if you want a secured card to help you rebuild your credit score, but would rather focus on paying off older debts before making new purchases.
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Pros
- Intro APR period. Get a 9.95% intro APR period on balance transfers for the first 6 months of card membership. Once the intro period passes, you'll get a fixed APR of 17.99%.
- Build credit. The card reports to all three credit bureaus — TransUnion, Experian and Equifax. Use this card responsibly and you'll see your credit score improve after a while.
- No minimum score to apply. Apply with a poor credit score of 300 or with no credit history.
Cons
- Annual fee. You'll have to pay $39 to own the card. Compared to similar credit cards, this isn't so bad.
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| Annual fee | $39 |
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| Minimum deposit required | Starting at $250 |
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| Purchase APR | 17.99% fixed |
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| Balance transfer APR | 9.95% intro for the first 6 months (then 17.99% fixed) Balance transfer fee of either $10 or 3% of the amount of each transfer, whichever is greater |
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| Minimum credit score | 300 |
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| Minimum deposit required | Starting at $250 |
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| Purchase APR | 17.99% fixed |
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| Annual fee | $39 |
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| Minimum credit score | 300 |
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Best for consumer friendliness
Chime® Credit Builder Secured Visa® Credit Card
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Chime is a financial technology company, not a bank. The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
*Out-of-network ATM withdrawal and OTC advance fees may apply. View the Bancorp agreement or Stride agreement for details; see back of card for issuer.
Secured cards aren't always the easiest cards to manage, but the Chime® Credit Builder Secured Visa® Credit Card makes great effort to put the consumer's experience first. This card works more like a debit card in that you need to open a Chime account and place your deposit there. There's no limit to how much you place into this account and your purchases made on the Chime card for the month are automatically paid off from that balance at the end of the month. The end result is a card with few fees or interest rates to worry about.
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Pros
- Low ongoing APR. Most secured cards have an APR on purchases of above 20% variable. This card has a 0% fixed APR.
Cons
- Annual fee. You'll pay $0 annual fee each year: a small price to pay to use the balance transfer offer.
- No rewards. Unfortunately, you won't earn any rewards on your purchases.
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| Annual fee | $0 |
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| Minimum deposit required | N/A - See terms |
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| Purchase APR | N/A |
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| Balance transfer APR | N/A |
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| Minimum credit score | 300 |
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Chime is a financial technology company, not a bank. The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
*Out-of-network ATM withdrawal and OTC advance fees may apply. View the Bancorp agreement or Stride agreement for details; see back of card for issuer.
| Minimum deposit required | N/A - See terms |
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| Purchase APR | N/A n/a |
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| Annual fee | $0 |
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| Minimum credit score | 300 |
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See terms and conditions
Chime is a financial technology company, not a bank. The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
*Out-of-network ATM withdrawal and OTC advance fees may apply. View the Bancorp agreement or Stride agreement for details; see back of card for issuer.
Best for no security deposit
Petal® 1 "No Annual Fee" Visa® Credit Card
If you want a card that can help you build credit but don't wish to put down a security deposit, the Petal® 1 "No Annual Fee" Visa® Credit Card is a great pick. The card is essentially a standard credit card that's light on fees and offers the opportunity for rewards on select purchases. The only trade-off is you'll need a credit score that hovers at least around fair to potentially qualify.
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Pros
- No annual fee. You won't pay an annual fee to use this card.
- High potential credit limit. Your minimum credit limit starts at $300 and goes as high as $5,000, which is greater than average for a credit-building card.
- Reports to all three credit bureaus. Petal will report your credit activity to Equifax, Experian and TransUnion.
Cons
- High APR. The Petal 1's APR ranges from 25.24% to 34.74% variable.
- Fees. Unlike the Petal 2, this card carries fees, including late payment fees.
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| Annual fee | $0 |
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| Minimum deposit required | N/A |
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| Purchase APR | 25.24% to 34.74% variable |
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| Balance transfer APR | N/A |
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| Minimum credit score | 550 |
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| Minimum deposit required | N/A |
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| Purchase APR | Up to 34.74% variable |
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| Annual fee | $0 |
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| Minimum credit score | 550 |
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Compare all secured credit cards
If you’re not seeing a product that fits your financial needs on our list of top picks, you can compare even more secured credit card options. See more secured credit cards to find the right one and build your credit.
To find the right secured card, keep these points in mind:
- Find the right security deposit for you. The required security deposit depends on the card and can range from $200 to $5,000. If you need a lot of credit to work with, you’ll want a card with a high deposit limit. But if you don’t have much cash on hand, you’ll want a low deposit.
- Check what credit bureaus the card reports to. You’ll want to make sure the secured card reports to all three major credit bureaus. If a card only reports to one bureau, providers may not have a full, updated view of your credit history.
- Avoid the fees. Watch out for secured cards with annual or monthly fees. These can make it difficult to keep up on your payments, which defeats the purpose of using a secured card in the first place.
- See if the card offers graduation. Some secured cards will let you “graduate” to an unsecured version or will upgrade your credit limit after you demonstrate strong financial habits.
- Check if the secured card performs a credit check. If you’re worried you won’t qualify for a secured card because of your credit, look for one that doesn’t check your credit score for qualification.
- Consider a card that offers rewards or similar perks. While rare, some secured cards let you earn rewards while you build your credit. Such cards are a great way to reward yourself for building strong credit.
Using a secured card can help raise your credit score and teach you effective spending habits. Once you’ve established your credit history, you can apply for way better cards down the line and earn generous rewards on your purchases.
- Get a secured card if you want to build your credit score and you can afford at least a $200 secured deposit.
- Don’t get a secured card if you qualify for a better and an unsecured card.
Scott Nelson, CEO of MoneyNerd Ltd, tells Finder: “A secured credit card is worth it when you either don’t have a credit record or you have a poor credit record which is stopping you from applying for credit.
The unfortunate thing about credit is that you can’t be granted credit unless you have a credit history or a positive credit history. You can’t have a credit history or positive credit history without getting credit.
So, whether a secured credit card is worth it is down to your own judgment. Do you trust your own ability to follow the terms of the credit agreement? If so, a secured credit card is worth it if you don’t have any credit history and you’re looking to build some or if you’re trying to improve your existing credit. This is because a secured credit card is a great way to build credit because regular consistent payments are reported directly to credit bureaus.
If you have a bad credit history and you personally know you struggle paying credit back then a secured credit card isn’t worth it as you’re likely to lose your deposit — or worse, your property — if you used it for collateral.”
Secured credit cards function similarly to standard cards, but with some important distinctions. Here are the five most common questions we receive on the subject.
- Do secured credit cards really help you build credit? With responsible use, yes. They’re designed to limit your total credit card spending while you work on improving your credit score. They also typically report to all three credit bureaus.
- How much will I need to deposit for a secured card? The deposit amount depends on the specific credit card as well as your existing credit score. Typically, the lowest amount you can deposit is either $200 or $300.
- Why do I need to place a security deposit? Your security deposit serves as collateral for the card issuer in the event that you fall behind or default on your account.
- Can you get denied for a secured card? Yes. Depending on your financial and credit history, an issuer can deny you a secured credit card.
- How many secured cards should I have? If you can manage and use them responsibly, having more than one secured card can increase your total limit and improve your utilization ratio.
Although secured credit cards are one of the best financial tools you can find, there are three similar options available to you.
1. Unsecured cards for bad credit
This type of card is the most similar to secured cards because they both help you build credit. Aside from that, unsecured cards for bad credit could be more expensive in the long run. But if you can’t make a $200 or $300 deposit for a secured card right away, unsecured cards are the next alternative.
2. Prepaid cards
If a low credit score is preventing you from getting a secured credit card, prepaid cards could be another alternative. While these cards won’t help you build credit, they’re best for those who have a low credit score as they don’t require a credit check. They also help you stay on a budget because you’re limited to spending funds linked to the card. But they typically require a monthly fee.
3. Debit cards that build credit
Although most debit cards don’t report your activity to credit bureaus and won’t help you build a stronger credit score, there are a few debit cards that build credit. For example, the Extra card, can help you boost your score and earn rewards, but it requires a monthly fee from $8 to $12. Another credit-building debit card is the Sequin card which has no monthly fee and while it’s marketed for women, anyone can sign up for an account.
A secured card can help you build up your credit score, but you’ll often face higher fees and lower rewards. If you’re on the fence, compare alternative credit cards to find the right pick for you.
Credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates credit cards to determine their value against similar cards on the market.
We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.
Learn the details of our methodology and scoring.
