Best Secured Credit Cards

Looking for a secured credit card to establish or repair your credit? Explore top picks for the best secured credit cards that offer low fees, high approval rates, and valuable credit-building features. Start building a strong credit history today!

Secured credit cards are unique financial tools designed primarily for individuals who are either starting their credit journey or repairing their credit history. They provide a pathway towards financial stability, enabling consumers to build or rebuild credit scores, with the added benefit of free online banking, no annual fees, and no credit checks. In this article, we will delve deeper into what secured credit cards are, their benefits, costs, and the top picks in the market. 

What are Secured Credit Cards?

Secured credit cards are credit cards that require an upfront security deposit, which serves as collateral for the card issuer. This deposit is usually equivalent to the card's credit limit. Unlike traditional credit cards, secured credit cards are designed for those with no credit history or a damaged credit profile. They are instrumental in building or rebuilding credit scores as they report to the three major credit bureaus just like other credit cards. The beauty of secured credit cards is that they do not impact your credit score negatively or require a credit check to get approved. 

Top Secured Credit Cards

There are several secured credit cards that stand out due to their remarkable features. These include cards that require no credit score, offer 0% intro APR, and do not levy annual fees. These cards also allow for free online banking, making it easier for users to manage their accounts. 

  • The Discover it® Secured: This card offers 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, and 1% unlimited cash back on all other purchases. It has no annual fees and offers a chance for a higher credit limit after a few months of responsible use. 
  • The Capital One® Secured Mastercard®: This card requires a refundable security deposit of $49, $99, or $200, based on creditworthiness. With responsible use, you can get access to a higher credit line with no additional deposit needed. 

How to find the best Secured Credit Cards?

Finding the best secured credit cards depends largely on individual needs and financial habits. Key factors to consider include the initial deposit requirement, the card's APR, fees, and whether the card issuer reports to all three major credit bureaus. It is crucial to look for cards that offer perks like 0% intro APR, no annual fees, and the opportunity to build your credit score. 

Benefits of Secured Credit Cards

Secured credit cards have numerous benefits. They help in building or rebuilding credit scores, as they report to the three major credit bureaus. They also have the advantage of no credit checks, which is beneficial for those with a poor credit history or no credit history at all. Additionally, they offer the convenience of free online banking. These cards often come with other benefits like fraud protection, auto rental collision damage waiver, and travel accident insurance. 


Secured credit cards require an upfront security deposit, which can range from $200 to $2,500, depending on the card. The deposit is refundable if you pay off your balance in full and close the account or upgrade to an unsecured card. Most secured cards also have variable APRs and may charge additional fees like late payment fees or foreign transaction fees. However, some cards offer features like no annual fees and 0% intro APR. 

Secured credit cards are a practical option for those seeking to establish or improve their credit scores. They provide an opportunity to demonstrate financial responsibility without the need for a credit check or even a credit score. With features like free online banking, no annual fees, and the chance to rebuild credit, secured credit cards can be a stepping stone to greater financial freedom. It's essential to research and compare different cards to find the one that best suits your financial needs and habits.