New or damaged credit? Secured credit cards can help.
Consumers who apply for secured cards often have lower credit scores, so they’re viewed as riskier borrowers. Of course, greater risk usually means higher APRs. However, not every secured card charges high interest. In fact, you can find top-notch secured credit cards that also have low APRs.
Take a look and pick a secured card with low APR that’s best for you.
Our pick for secured card with low APR
Compare secured cards with low APRs
Our best picks
For a secured card, you can’t go wrong with the SDFCU Savings Secured Visa Platinum Card or the DCU Visa® Platinum Secured Credit Card.
Not only do they have low APRs, but they’re also excellent secured cards in general. Neither card has an annual fee, and it’s relatively easy to be approved for both cards.
SDFCU Savings Secured Visa Platinum Card
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. To do that, you can join the American Consumer Council for $5. You also need to open an SDFCU savings account with a minimum of $1. Learn more about how to join SDFCU.
- 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.
- Watch out for required membership with SDFCU.
DCU Visa® Platinum Secured Credit Card
You can get this card by joining the Digital Federal Credit Union. 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.
- Minimum deposit. $500.
- No annual fee.
- Low interest rate. 13.75% variable APR for purchases, balance transfers and cash advances.
- Light on fees. No balance transfer, cash advance or foreign transaction fees.
- Watch out for required membership with the Digital Federal Credit Union.
Other options
These secured cards have low APRs but are held back by significant weaknesses. Before considering these cards, look into the two cards we list above.
Green Dot primor® Visa® Gold Secured Credit Card
- Low fixed APR, easy approval
The downside to the card is its $49 annual fee — not exactly cheap when you also have to put down a $200 security deposit.
- Minimum deposit. $200.
- Fixed interest rate.
- No minimum credit score requirement.
- No penalty APR.
- Watch out for the $49 annual fee.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
- Low fixed 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.
- Minimum deposit. $200.
- Fixed interest rate.
- No penalty APR.
- Watch out for the $48 annual fee and no grace period on interest.
nRewards® Secured Credit Card
With the nRewards® Secured Credit Card, you may receive a purchase and balance transfer APR as low as variable. But if you’re considered a weaker applicant, you may be given an APR as high as 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.
- 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.
- Watch out for the military affiliation requirement to join the Navy Federal Credit Union.
First Progress Platinum Prestige MasterCard® Secured Credit Card
- Potentially low APR, easy application
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.
- Minimum deposit. Maintain a minimum deposit of $200 with Synovus Bank.
- Backed by Mastercard.
- $2,000 maximum limit.
- Watch out for the $39 late payment fee and the upfront security deposit. You’ll pay a fee of $29.95 if you wish to forego the upfront security deposit
How we selected our top cards
We selected our top picks of secured credit cards by narrowing them down based on the APR. After that, we compared additional perks, such as the annual fee, minimum deposit and extra fees. We picked cards that stood out based on those factors.
What’s changed in 2019
Our top picks from last year remain our favorites, so there are not many changes to look out for this year.
Top picks for a low interest secured card
Platinum Plus® for Business Mastercard®
