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M&T Bank Secured Credit Card review

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A simple credit-building card with a minimum $250 deposit and no annual fee.

  • Get this card if you want to build credit without paying an annual fee.
  • Pick something else if you can’t afford a $250 security deposit.
  • Apply with poor or no credit history.


Annual fee


Purchase APR (variable)


Recommended credit score


Annual fee$0
Welcome OfferN/A
Purchase APR18.74% variable
Balance transfer APR18.74% variable
Recommended minimum credit score300

Review by

Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The M&T Bank Secured Credit Card is a simple credit card that can help you build credit without paying an annual fee. But being a secured card means you have to make a secured deposit that will act as your credit limit. With the M&T Bank Secured Credit Card, you can start as low as $250. But if you can’t afford this, there are other secured cards that start with a $200 secured deposit.

Those who want a cheaper credit-building option, could consider unsecured cards for building credit. Keep in mind, “cheaper” means you don’t have to make a $200 or $300 secured deposit right off the bat.

But these cards often come with an annual fee. And some of them can end up costing you $200 or more every year.

How to apply for the M&T Bank Secured Credit Card

There are two ways to apply for the M&T Bank Secured Credit Card:

  1. In person at any local M&T branch.
  2. By calling 800-724-3222.

What credit score do I need?

Apply with poor or no credit history.

M&T Bank Secured Credit Card benefits

  • Build credit. M&T claims you can build credit with this card. But it doesn’t publicly state which credit bureaus it reports your card activity.
  • Free FICO score access. Keep track of your credit-building efforts with a free FICO score on your account statement.
  • No annual fee. You get to build your credit without paying an annual fee.

What to watch out for

  • Secured deposit. To use the card, you must make a secured deposit of at least $250 or more.
  • Foreign transaction fees. Purchases made online with foreign merchants or abroad will cost you 3% of the amount.

Compare secured credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Citi® Secured Mastercard®
Starting at $200
22.49% variable
New to credit
A no annual fee secured card for people who are new to credit or have limited credit history.
Self Visa® Credit Card
Starting at $100
21.74% variable
Build your credit with a low minimum security deposit of $100 and no credit score required.
Surge Secured Mastercard®
Starting at $300
19.99% variable
Earn 1% cash back rewards.

Compare up to 4 providers

Bottom line

The M&T Bank Secured Credit Card is a simple credit-building option with no annual fee. Aside from that, it lacks any other features you could find with competitor secured cards, such as rewards, a signup bonus or intro APR period.

Other secured cards could also help you build credit with a lower secured deposit of $200.

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