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Best Secured Credit Cards

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by Eric Rosenberg | Published Jan. 12, 2017 - Updated Jan. 30, 2017
We maintain strict editorial integrity in our writing and assessments.

Best Secured Credit Cards Overview

Advertiser Disclosure

Secured credit cards are great tools for building credit. For those of us that have little to no credit history, or those who may have had a derogatory marks on their credit, secured cards are often a good bet to start rebuilding. In many cases, issuers will accept your application regardless of your credit score. A downside tends to be that many secured cards lack features and often come with a minimum deposit requirement to open the account. With the help of our model, we explored the secured credit card options out there to bring you the best offers. Below, you can find our top picks for different needs, including secured credit cards with cash back (a rarity!), low interest rates, and more.

Best Secured Credit Card with Rewards

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  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • A security deposit of $200 or more will establish your credit line (up to the amount we can approve). Automatic monthly reviews starting at 7 months to see if we can transition you to an account with no security deposit.
  • Earn 2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Earn 1% cash back on all other purchases.
  • Tools to assist you; email alerts, text reminders and 24/7 customer service. Plus get your FICO® Credit Score for free on monthly statements and online.
  • Discover matches all the cash back you've earned at the end of your first year - automatically. New cardmembers only.
  • No late fee on your first late payment. And paying late won't raise your APR.

Annual Fee

$0

Purchase Intro APR

N/A

Balance Transfer Intro APR

10.99% APR for 6 Months

Regular APR

23.24% - 23.24%

Best Secured Credit Card for Military Members

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  • Best for members rebuilding or establishing credit It's a real credit card — not a debit or prepaid card.
  • Determine your own credit limit ($250 to $5,000) with an interest-earning CD.
  • Retail and Travel Benefits: Collision damage waiver coverage pays for physical damage and theft to most rental vehicles.Identity theft resolutions services provides assistance should you become the victim of identity theft.Extended warranty extends your manufacturers or U.S. store brand warranties for up to one year.Travel accident insurance provides coverage for you and your family members when your card is used to purchase common carrier travel tickets.
  • Security: Chip card technology has added security when used at a chip-enabled terminal and greater acceptance worldwide.You are not liable for unauthorized purchases. Get account balances and transaction history by sending a text message.Access your account on usaa.com or from a mobile device.
  • Special Benefits for Military: Get 4% APR on all balances for up to 12 months during deployment or PCS. After 12 months, the regular APR of between 10.15% and 20.15% will apply. This rate will vary with the market based on the prime rate. Special 4% SCRA rate: When you have a balance on your account at the time you enter active military duty, get 4% APR on that existing balance until one year after you complete active duty.

Annual Fee

$35

Purchase Intro APR

N/A

Balance Transfer Intro APR

N/A

Regular APR

10.15% - 20.15%

Best Secured Credit Card with Low Interest Rate

More Details

  • Fast, easy application process
  • NO PROCESSING OR APPLICATION FEES!
  • LOW FIXED INTEREST RATES WITH NO PENALTY RATE!
  • REPORTS TO ALL THREE NATIONWIDE CREDIT BUREAUS
  • Guaranteed Approval*
  • As Long As Your Monthly Income Exceeds Your Monthly Expenses By $100 or More!*
  • *See application for additional details

Annual Fee

$39

Purchase Intro APR

N/A

Balance Transfer Intro APR

N/A

Regular APR

0.1399

Our Methodology

SmartAsset has developed a quantitative and independent system for evaluating the relative value of a credit card offer versus other offers in the marketplace. Our system evaluates cards based exclusively on their features, such as their rewards earning rate (if applicable), fees, perks, and rewards program redemption options. The annual rewards values on this page are calculated using annual spending assumptions in various categories such as, but not limited to, gas, restaurants, airfare, and US supermarkets. These spending assumptions are built on research that SmartAsset has conducted on existing secured credit cardholders. Our promise with our credit card recommendations is that we will always strive to have the most comprehensive, accurate, and objective method of evaluating credit card offers. Any recommendations are solely determined by the result of this research and model, and is never influenced by any fees, commissions, or other forms of compensation that SmartAsset may receive from credit card issuers for leads generated on our website.

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Unfortunately, your credit score is low to qualify for this card type.
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Data provided by Informa Research Services and CJ Affiliate.
Advertiser Disclosure: The card offers that appear on this site are from companies from which SmartAsset receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). SmartAsset does not include all card companies or all card offers available in the marketplace.
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