Below is a comprehensive list of secured credit cards. Use our filters to narrow down the features you are looking for to find the right card for yourself. For example, you could filter cards by no annual fee, no credit checks, whether it graduates to an unsecured credit card etc.

Secured credit cards require that you fund a refundable deposit (normally between $200 and $5,000) and that deposit becomes your credit limit. Otherwise, a secured card is just like any other credit card. Your activity will be reported to the three major credit bureaus so if you use the card wisely (ie pay your bills on time and in full, do not use all your credit limit), you will build or rebuild your credit over time.

Self -Credit Builder Account + Secured Visa® Credit Card

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Annual Fee: $0

APR: 23.24%*V

23.24%*V

Deposit:

Interest on Deposit:

Reports As:

Graduation To Unsecured:

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OpenSky® Secured Visa® Credit Card

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(33)

Annual Fee: $35

$35

APR: 18.89%*Variable

18.89%*Variable

Deposit: Deposit Required

Deposit Required

Interest on Deposit:

Reports As: Unsecured

Unsecured

Graduation To Unsecured:

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First Progress Platinum Elite MasterCard® Secured Credit Card

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(16)

Annual Fee: $29

$29

APR: 22.24%*V

22.24%*V

Deposit: Deposit Required

Deposit Required

Interest on Deposit: No

Reports As:

Graduation To Unsecured: No

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First Progress Platinum Prestige Mastercard® Secured Credit Card

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Annual Fee: $49

$49

APR: 12.24%*V

12.24%*V

Deposit:

Interest on Deposit:

Reports As:

Graduation To Unsecured:

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First Progress Platinum Select Mastercard

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Annual Fee: $39

$39

APR: 16.24%*V

16.24%*V

Deposit:

Interest on Deposit:

Reports As:

Graduation To Unsecured:

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Surge Secured Mastercard®

Annual Fee: $69

$69

APR: 19.99%*V

19.99%*V

Deposit:

Interest on Deposit:

Reports As:

Graduation To Unsecured:

Discover it® Secured

Annual Fee: $0

APR: 24.99%*V

24.99%*V

Deposit: $200 to $2,500

$200 to $2,500

Interest on Deposit: No

Reports As:

Graduation To Unsecured: Yes

Yes

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Capital One® Secured Mastercard®

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(28)

Annual Fee: $0

APR: 26.99%*V

26.99%*V

Deposit: $49, $99 or $200

$49, $99 or $200

Interest on Deposit: No

Reports As: Unsecured

Unsecured

Graduation To Unsecured: Yes

Yes

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Navy Federal nRewards Secured

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Annual Fee: $0

APR: 18%*V

18%*V

Deposit: Min $500

Min $500

Interest on Deposit: No

Reports As:

Graduation To Unsecured: Yes

Yes

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SDFCU EMV Savings Secured Platinum Visa

Annual Fee: $0

APR: 13.99%

13.99%

Deposit: Min $300

Min $300

Interest on Deposit:

Reports As: Secured

Secured

Graduation To Unsecured:

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USAA Secured American Express

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(38)

Annual Fee: $35

$35

APR:

Deposit: $250 - $5,000

$250 - $5,000

Interest on Deposit: 0.54% - 2yr CD

0.54% - 2yr CD

Reports As: Secured

Secured

Graduation To Unsecured: No

USAA Secured Visa

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

Reports As: Secured

Secured

Graduation To Unsecured: No

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Harley Davidson Secured Visa

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(14)

Annual Fee: $0

APR: 24.99%*V

24.99%*V

Deposit: $300-$5,000

$300-$5,000

Interest on Deposit: Yes

Yes

Reports As: Secured

Secured

Graduation To Unsecured: Yes

Yes

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Best Western Secured MasterCard

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(11)

Annual Fee: $29

$29

APR: 22.24%*V

22.24%*V

Deposit: $300 - $5000

$300 - $5000

Interest on Deposit: No

Reports As: Secured

Secured

Graduation To Unsecured: Yes

Yes

Sheetz Secured Visa

Annual Fee: $40

$40

APR: 22.24%*V

22.24%*V

Deposit: $300 - $5,000

$300 - $5,000

Interest on Deposit: No

Reports As: Secured

Secured

Graduation To Unsecured: Yes

Yes

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BankAmericard® Secured Credit Card

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(13)

Annual Fee: $39

$39

APR: 20.99%

20.99%

Deposit: $300 - $4,900

$300 - $4,900

Interest on Deposit: No

Reports As:

Graduation To Unsecured: Yes

Yes

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Citi® Secured Mastercard®

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(30)

Annual Fee: $0

APR: 24.49%*V

24.49%*V

Deposit: $200 - $2,500

$200 - $2,500

Interest on Deposit: No

Reports As:

Graduation To Unsecured: Yes - after 18m

Yes - after 18m

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US Bank Secured Visa® Card

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(19)

Annual Fee: $29

$29

APR: 20.99%*V

20.99%*V

Deposit: $300 - $5,000

$300 - $5,000

Interest on Deposit: Yes

Yes

Reports As: Secured

Secured

Graduation To Unsecured: Yes - Time Varies

Yes - Time Varies

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Wells Fargo Secured Visa®

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(14)

Annual Fee: $25

$25

APR: 20.99%

20.99%

Deposit: $300 - $10,000

$300 - $10,000

Interest on Deposit: No

Reports As: Secured

Secured

Graduation To Unsecured: Yes

Yes

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Merrick Bank Secured Visa®

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(14)

Annual Fee: $36 ($3/m)

$36 ($3/m)

APR: 19.7%*V

19.7%*V

Deposit: $200 - $3000

$200 - $3000

Interest on Deposit: No

Reports As:

Graduation To Unsecured: No

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Korean Air Skypass Secured Visa

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(12)

Annual Fee: $50

$50

APR: 18.24%*V

18.24%*V

Deposit: $300 - $5,000

$300 - $5,000

Interest on Deposit: Yes

Yes

Reports As: Secured

Secured

Graduation To Unsecured: Yes

Yes

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AeroMexico Secured Visa

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(13)

Annual Fee: $25

$25

APR: 24.99%*V

24.99%*V

Deposit: $300 - $5,000

$300 - $5,000

Interest on Deposit: Yes

Yes

Reports As: Secured

Secured

Graduation To Unsecured: No

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Excent^TM Secured Visa Blue Card

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Annual Fee: $39

$39

APR: 13.99%*V

13.99%*V

Deposit: $200 - $5,000

$200 - $5,000

Interest on Deposit: No

Reports As:

Graduation To Unsecured: No

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Best Secured Credit Cards for 2020

Below is our curated list of the best credit cards which we think are the creme of the crop (so to speak).

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
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 Progress	$39	$200-$2,000	secured	No	No	Bad credit and no credit checks
Self Secured Visa	$0	$200-$5,000	secured	No	No	Low Deposit and No Credit Checks

Explanation of Editors Pick

Below are explanations of why we chose the following secured credit cards as the best.

Discover It Secured

Reason: No Annual Fee, Cash Back Rewards, Potential Early Gradation, Mobile App

There are so many reasons why the Discover It Secured is one of our favorite secured credit card. Firstly, it is issued by a mainstream issuer. It has no annual fee. You also earn cash rewards. You will earn 2% cash back at restaurants and gas stations for up to $1,000 in spending in both these categories within a quarter. This cash back system is similar to Discover's It Chrome Card. Furthermore, you will get a Free FICO score from TransUnion (as do other Discover Card holders). But best of all, Discover could graduate you to their unsecured It Chrome card within 7 months.

Capital One Secured Mastercard

Reason: Partially Secured Card, Low Deposit

Secured credit cards require that you put up a security deposit (most have minimums of $200) and your deposit becomes your credit limit. If you get approved for the Capital One Secured Mastercard, you may not have to put up the full amount of your credit limit for the deposit. For example, you may be only asked to put up with a $49 security deposit but you will be given a $200 starting credit limit. This will appeal to those of you who are hesitant about about shelling out the necessary cash for this.

Opensky Secured Visa Credit Card

Best for No Credit Check and No Checking Account Required

The Opensky Credit Card distinguishes itself because they do not perform any credit checks so you will definitely be approved as long as you fund your security deposit. You also do not need a checking account to open this account. All you need is a debit card to fund your security deposit. This is one of the most well known secured cards for rebuilders.

First Latitude Secured Credit Card

Reason: No Annual Fee and No Credit Checks The First Latitude Secured Card is by First Progress and it is two very strong features going for it. Firstly, it has no annual fee. Secondly, there is no credit checks so you will definitely be approved. This is a great card for those of you who have been denied other credit cards. You will be able to re-establish your credit with this card.

First Progress Platinum Elite Mastercard Secured Credit Card

Reason: No Credit Checks First Progress has another range of credit cards that does not perform any credit checks so your approval is all but assured as long as your income is $100 greater than your security deposit. This is another credit card to consider if you have been denied other cards. It is also a good card to rebuild your credit.

Self Secured Visa

Reason: No Credit Check. Start With Credit Builder Account

The Self Secured Visa is a unique secured card in that you first start off with a credit builder loan account. This is ideal for folks who want to get a secured credit card but do not have sufficient cash in their checking account. This method of getting a credit builder loan first allows you to build your credit as you save up money. There is also no credit checks so you will definitely be approved for this card.

The Basics

This is what you can expect from a secured credit card.

Apply Online Or At Branch - Most secured credit card issuers allow you to apply online. Some though (like Wells Fargo) require you to visit a branch to actually open a secured credit card. You will need your checking account number and routing number (for most issuers) on hand when you apply.

Fund Your Deposit - Some issuers (especially the mainstream banks) will ask for your checking account information and routing number and take your security deposit immediately. Others will approve you but allow you to send your deposit within a certain period.

Wait For Card To Arrive - You have to be aware that even though you have sent your deposit. It may take a while for your card to arrive. Some issuers like US Bank will take your deposit and you will not hear from them whether they approve you or not for a couple of weeks. But just be patient and in due course, your card will arrive.

Use Secured Credit Card The Right Way - They key to improving your credit is to pay your bills on time and to keep your credit utilization low. Credit bureaus have recommended that keeping a utilization below 30% is ideal for credit score purposes.

Graduate or Cancel - If you have been keeping your overall credit utilization ratio low (less than 30%), you might be able to get a regular no annual fee unsecured credit card. When your credit has improved enough that you can get the cards you want and need, then you can cancel your secured credit and get your deposit back.

Some of you will have got a secured card that actually graduates. If the card graduates, then your deposit will be returned and you can continue to use the card.

What To Look For In A Secured Card

When you are looking for a secured credit card, you should be looking out for the following features.

Annual Fee - Most secured credit cards charge an annual fee while some do not. Ideally, it is best to get one with no annual fee. But most of the annual fees are reasonable.

Minimum Deposit - Most secured cards require a minimum deposit of $200. However, some require a minimum deposit of $500. If money is tight for you, it is very important to be aware of the minimum deposit required.

Can You Add To Your Deposit? - Another important thing to consider is whether or not you can add to your initial deposit. Some issuers do not allow you to add to your initial deposit while other do. Even those that do can make it difficult. If you plan to increase your deposit over time, make sure you check this out before applying.

Do Your Need Checking Account To Open The Secured Card? - Most secured credit cards require that you have a checking account to fund your deposit. However, if you do not have a checking account (because of past CHEX history), then you should look for one that does not require a checking account to fund your security deposit and monthly payment.

Does It Graduate To An Unsecured Credit Card? - In my opinion, this is not a make or break issue. However, it would be more convenient if you got a card that would automatically graduate you to an unsecured credit card after a certain period on consistent on-time payments and improvements in your credit score. Some issuers will automatically give you back your deposit when they graduate you. If a card does not graduate, then you can simply cancel it once you have gotten a couple of regular unsecured credit cards. You will get back your security deposit once you cancel the card.

Does Security Deposit Pay Interest? - Once again, this is not a big deal because interest rates are so low (nearly zero percent). But some of you might be picky over this.

Alternatives To Secured Credit Cards

Although secured cards are great for establishing or re-establishing your credit, there are alternatives as well. Here are some alternatives:

Unsecured Credit Cards for poor credit - Even if you have bad credit, you can still get unsecured credit cards. You just have to be aware unsecured credit cards that target people with bad credit tend to have annual fees and even monthly maintenance fees on top of that. The advantage they have over secured credit cards is that you do not have to put up any security deposit.

Online Catalog/Merchandise Cards - Those with really bad scores and have been denied even for secured credit cards can apply for online merchandise cards. Though these cards tend to give you a decent credit limit and have no credit checks so you will definitely be approved.

Starter Credit Cards - There are some unsecured credit cards that specifically target those with no credit. Many of these cards have no annual fee, though your credit limit may be modest. If your credit profile is very thin, this might be a place you want to look at.

Credit Builder Loans - Credit Builder Loans are another alternatives for rebuilders to rebuild their credit. The way it works is that you set up a credit builder savings account and put a deposit into the account every month. After a certain period, you would have accumulated a certain amount of savings (excluding some interest cost) and in the process, you would have built some credit history. This method might appeal to some of you would need to pad up your savings account.