Secured Credit Cards List

Secured credit cards are a type of credit card that is great for those who are either looking to establish a credit history or to repair and rebuilding their credit. They require you to put down a deposit (usually between $200 and $5,000) and this deposit will usually be your credit limit. Many secured credit cards do not charge annual fees and almost all report to the three major credit bureaus. If you use these cards responsibly, keep your credit utilization at 30% or below and pay your bills in full and on time, secured cards can help you improve your credit over time (and sometimes very quickly too).

Below is a list of well known secured credit cards. Many are issued by mainstream issuers and some even do not check your credit (which means you are guaranteed approval). Use our filters to narrow down the features you are looking for to find the right card for yourself.

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OpenSky® Secured Visa® Credit Card

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Annual Fee: $35 
$35 
APR: 19.64%*V 
19.64%*V 
Deposit: Deposit Required 
Deposit Required 
Interest on Deposit:  
 
Credit Bureau Reporting:  
 
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First Progress Platinum Elite MasterCard® Secured Credit Card

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Annual Fee: $29 
$29 
APR: 20.74%*V 
20.74%*V 
Deposit: Deposit Required 
Deposit Required 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Discover it Secured

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Annual Fee: $0 
$0 
APR: 24.24%*V 
24.24%*V 
Deposit: $200 to $2,500 
$200 to $2,500 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Capital One® Secured Mastercard®

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Annual Fee: $0 
$0 
APR: 24.99%*V 
24.99%*V 
Deposit: $49, $99 or $200 
$49, $99 or $200 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Navy Federal nRewards Secured

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Annual Fee: $0 
$0 
APR: 10.24% to 18%*V 
10.24% to 18%*V 
Deposit: Min $500 
Min $500 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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SDFCU EMV Secured

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Picture of Item Reviewed
Annual Fee: $0 
$0 
APR: Min 13.24%*V 
Min 13.24%*V 
Deposit: Min $250 
Min $250 
Interest on Deposit:  
 
Credit Bureau Reporting:  
 
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USAA Secured American Express

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Annual Fee: $35 
$35 
APR:  
 
Deposit: $250 - $5,000 
$250 - $5,000 
Interest on Deposit: 0.54% - 2yr CD 
0.54% - 2yr CD 
Credit Bureau Reporting:  
 
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USAA Secured Visa

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Annual Fee: $35 
$35 
APR: 11.15% to 21.15%*V 
11.15% to 21.15%*V 
Deposit: $250 - $5,000 
$250 - $5,000 
Interest on Deposit: Yes - 2 Year CD 
Yes - 2 Year CD 
Credit Bureau Reporting:  
 
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Harley Davidson Secured Visa

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Annual Fee: $0 
$0 
APR: 24.24%*V 
24.24%*V 
Deposit:  
 
Interest on Deposit: Yes 
Yes 
Credit Bureau Reporting:  
 
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Best Western Secured MasterCard

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Annual Fee: $29 
$29 
APR: 22.24%*V 
22.24%*V 
Deposit: $300 - $5000 
$300 - $5000 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Sheetz Secured Visa

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Annual Fee: $40 
$40 
APR: 22.24%*V 
22.24%*V 
Deposit: $300 - $5,000 
$300 - $5,000 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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BankAmericard Secured Credit Card

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Annual Fee: $39 
$39 
APR: 20.24% 
20.24% 
Deposit: $300 - $4,900 
$300 - $4,900 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Citi Secured MasterCard

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Annual Fee: $0 
$0 
APR: 23.74%*V 
23.74%*V 
Deposit: $200 - $2,500 
$200 - $2,500 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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US Bank Secured

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Annual Fee: $29 
$29 
APR: 20.24%*V 
20.24%*V 
Deposit: $300 - $5,000 
$300 - $5,000 
Interest on Deposit: Yes 
Yes 
Credit Bureau Reporting:  
 
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Wells Fargo Secured Visa®

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Annual Fee: $25 
$25 
APR: 18.99% 
18.99% 
Deposit: $300 - $10,000 
$300 - $10,000 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Merrick Bank Secured Visa

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Annual Fee: $36 ($3/m) 
$36 ($3/m) 
APR: 18.7%*V 
18.7%*V 
Deposit: $200 - $3000 
$200 - $3000 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Green Dot Platinum Secured Visa

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Annual Fee: $39 
$39 
APR: 19.99%*V 
19.99%*V 
Deposit: $200 - $5000 
$200 - $5000 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 
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Korean Air Skypass Secured Visa

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Annual Fee: $50 
$50 
APR: 17.49%*V 
17.49%*V 
Deposit: $300 - $5,000 
$300 - $5,000 
Interest on Deposit: Yes 
Yes 
Credit Bureau Reporting:  
 
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AeroMexico Secured Visa

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Annual Fee: $25 
$25 
APR: 24.24%*V 
24.24%*V 
Deposit: $300 - $5,000 
$300 - $5,000 
Interest on Deposit: Yes 
Yes 
Credit Bureau Reporting:  
 
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ExcentTM Secured Visa Blue Card

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Picture of Item Reviewed
Annual Fee:  
 
APR: 13.99%*V 
13.99%*V 
Deposit: $200 - $5,000 
$200 - $5,000 
Interest on Deposit: No 
No 
Credit Bureau Reporting:  
 

Best Secured Credit Cards

If you have no credit or little credit, you should be able to get most secured cards. However, if your credit has taken a hit and you are rebuilding, many secured cards issued by mainstream banks will decline you. Therefore, the cards mentioned here are recommended for those of you who are rebuilding. They either have no credit checks or have a record (according to consumers) of accepting folks with bad credit. They also have very reasonable fees and rates compared to others in the market. Most folks should be able to get approved for these cards.
 

Card Annual Fee Security Deposit Reports As Graduates to Unsecured Interest On Deposit Good For
Discover It Secured $0 $200-$2,500 secured Yes No Rewards and Early Graduation
Capital One Secured Mastercard $0 $200-$2,500 unsecured Yes No Credit limit increases and graduation 
Harley Davidson Secured $0 $300-$5,000 secured Yes Yes Rewards and Early Graduation
Citi Secured Mastercard $0 $200-$2,500 secured Yes No No Credit and Graduation
Opensky Secured Visa $35 $200-$3,000 unsecured No No Bad credit and guaranteed approval
First Latitude $0 $200-$2,000 secured No No Bad credit and no credit checks
First Progress cell2_7 $200-$2,000 secured No No Bad credit and no credit checks

FREQUENTLY ASKED QUESTIONS

Does Secured Credit Cards report as secured or unsecured?

Does Secured Credit Cards report as secured or unsecured?


It depends. Some report as secured while others report as unsecured. Cards that report as unsecured include Opensky while others like Discover report as secured. Whether they report as secured or unsecured has no effect on your credit score.

How does secured credit cards help your credit

How does secured credit cards help your credit

They work just like any other credit card. You have a credit limit (which is determined by your security deposit) and when you use your credit card, pay your credit card bills, these activities are reported to the three major credit bureaus just like a regular credit card.

As long as you do not use your full credit limit (best to limit to 30%) and pay your bills on time and preferably in full, you will establish a positive track record and improve your score.

How to get a secured credit card?

How to get a secured credit card?

For the most parts, most issuers have online application forms. There are some banks who require you to visit the branch, open a savings account and apply at the branch.

]When should I cancel a secured credit card

When you have gotten a few no annual fee prime credit cards and are happy with the credit limits you have. That is when you should cancel it as it has served it's purpose of rebuilding your credit. Some issuers require that you have the secured card for a minimum period. For example, Citi's secured Mastercard requires that you security deposit be left in a CD account for 18 months.

Can I rent a car with a secured credit card?

Can I rent a car with a secured credit card?

Yes you can.

How long does it take for deposit to clear

How long does it take for deposit to clear

It could take up to two weeks. It is not uncommon that you apply online and do not know whether you are approved or not. But your deposit is taken from your bank account. Once it clears, you get an email saying that you are approved.

Can I increase deposit and limits after initial deposits?

Can I increase deposit and limits after initial deposits?

It depends on the issuer. Some like do not allow you to add to your deposit. Some make you wait for a certain period.

Does my security deposit cover the monthly payments for charges I make to the card?

Does my security deposit cover the monthly payments for charges I make to the card?

No. Your security deposit is just a collateral for the credit card. You still have to pay the monthly bill. In fact, it is best to pay in full.

Can I get a secured credit card if I do not have a bank account?

Can I get a secured credit card if I do not have a bank account?

For the most parts no. However, there are the rare ones like Opensky that allows you to deposit your account with a prepaid card and even with MoneyGram.

Are there cards with no credit checks?

Are there cards with no credit checks?

Yes. One example is the Opensky

Why have I been denied secured credit cards?

Why have I been denied secured credit cards?

Some issuers do not accept those who have just emerged from a bankruptcy. Others only want customer who have no credit and not those who have bad credit.

Is there a difference between a secured credit card and prepaid card?

Is there a difference between a secured credit card and prepaid card?

A secured credit card helps you build credit because you are given a credit limit based on your security deposit. You activity on the card (ie your payment history and credit utilization) is reported to the three major credit bureaus. Prepaid cards do not extend you credit. You load up the card with your own funds and use it as and when you want to. It does not help you to build credit.

Are there secured credit cards that graduate to unsecured cards?

Are there secured credit cards that graduate to unsecured cards?

Most mainstream issuers have secured credit cards that allow you to graduate to one of their unsecured credit cards. Examples include Discover, Citi and Capital One.

How much should I deposit?

How much should I deposit?

It is best to work backwards. How much do you anticipate charging to your credit card a month? Then remember that a good rule of thumb is to only use 30% of the credit available. Then you just work backwards from there to figure out how much you deposit. For example, if you plan to charge $300 a month of the card, then you should try to deposit $1,000.

If you travel or have the occasional big ticket expenses like travel, booking a hotel, renting a car, then make sure you put down a security deposit amount that will give you enough credit limit.


Resources

What is a secured credit card and how does it work?

Pros and Cons of Secured credit cards

How does deposits on secured credit cards work?

What should a typical deposit be on a secured credit card?

How to use secured credit cards wisely?

How fast can secured credit cards build credit?

How many secured credit cards do you need to build credit?
 

 

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