Compare 6 secured credit cards with low APRs

If you’re looking for a low-APR card, you could end your search with the SDFCU Savings Secured Visa Platinum Card. It offers a very low 14.24% variable APR for purchases, balance transfers and cash advances. It’s also less expensive than its competitors, charging no annual fee.

To get this card, you need to become a member of the State Department Federal Credit Union (SDFCU). To do that, you can join the American Consumer Council for $5. You also need to open a SDFCU savings account with a minimum of $1. Learn more about how to join SDFCU.

• The perks

  • Minimum deposit. $250 in an SDFCU savings account.
  • No annual fee.
  • Low interest rate. 14.24% variable APR for purchases, balance transfers and cash advances.
  • Rewards. Earn 1 Flexpoint — SDFCU’s reward points — for every dollar you spend and 5 Flexpoints when you pay through bill pay.
  • Fewer fees. No balance transfer or foreign transaction fees.

While the DCU Visa® Platinum Secured Credit Card has an average interest rate for a secured card, it does have one of the lowest minimum deposits — $500. It offers a respectable 13.5% variable APR across the board and has no annual fee. You can get this card by joining the Digital Federal Credit Union (DCU). To do that, just join Reach Out for Schools for $10 when you open a DCU account. Then fund your DCU savings account with a minimum of $5. In total, it’ll cost as little as $15 to open your secured card. Learn more about joining the DCU.

• The perks

  • Minimum deposit. $500.
  • No annual fee.
  • Low interest rate. 13.5% variable APR for purchases, balance transfers and cash advances.
  • Light on fees. No balance transfer, cash advance or foreign transaction fees.

The Green Dot primor® Visa® Gold Secured Credit Card offers a low fixed APR of 9.99%, which means your interest rate won’t change for as long as you have the card. The card is also relatively easy to obtain since it doesn’t have a minimum credit score requirement. The downside to the card is its $49 annual fee — not exactly cheap when you also have to put down a $200 security deposit.

• The perks

  • Minimum deposit. $200.
  • Fixed interest rate.
  • No minimum credit score requirement.
  • No penalty APR.

Like the Green Dot primor® Visa® Gold Secured Credit Card, the Applied Bank® Secured Visa® Gold Preferred® Credit Card comes with a low fixed APR of 9.99%. However, it has a $48 annual fee. The card also doesn’t offer a grace period on interest — which is an enormous disadvantage —which means you’ll accrue interest as soon as you swipe your card.

• The perks

  • Minimum deposit. $200.
  • Fixed interest rate.
  • No penalty APR.

With the nRewards® Secured Credit Card, you may receive a purchase and balance transfer APR as low as 18% variable.

You need to deposit at least $200 to open the card. On the plus side, however, you won’t have to pay an annual fee.

You can apply for this card if you’re a member of the Navy Federal Credit Union. To join, you must be affiliated with the military.

• The perks

  • Minimum deposit. $200 into a Navy Federal savings account.
  • No annual fee.
  • Rewards. Earn 1 nRewards point for every dollar you spend.
  • No cash advance fees at Navy Federal branches or ATMs.
  • No foreign transaction fees.

The First Progress Platinum Prestige MasterCard® Secured Credit Card comes with an APR that can be as low as 10.74% variable depending on your credit history. The card has an annual fee of $49 and offers a 25-day grace period at the end of each billing cycle.

You can apply for the First Progress Platinum Prestige MasterCard® Secured Credit Card either over the phone or online. Most online reviews harp on the poor customer service.

• The perks

  • Minimum deposit. Maintain a minimum deposit of $200 with Synovus Bank.
  • Backed by Mastercard.
  • $2,000 maximum limit.