Credit Cards» Secured Credit Cards

Secured Credit Cards

  • What is a secured card?
  • Is my credit good enough?
  • What are some pros and cons?
  • Tips on Secured Cards

What is a secured card?

A secured card is a credit card you put a deposit down on, similar to a prepaid card. That deposit is used as collateral. Unlike a prepaid card, when you spend on your secured credit card, it's not deducted from the deposit.

By using a secured card responsibly, it may help you establish or build your credit history if you make your payments on time each month, and keep your balance low relative to the credit limit. Secured credit cards offer limited credit lines and report your activity to the three major credit bureaus, giving you tools necessary to establish a history.

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Is my credit good enough?

Do you have bad credit history or a limited credit history? Secured cards from our partners can help you build or establish your credit, extending to you a limited credit line and reporting your payment behavior. Secured cards from one of our partners may be one tool you can use to show you can responsibly manage credit. Pay your minimum payment on-time each month and stay within our credit limit for positive reports to the consumer reporting agencies. If you keep a low balance relative to your credit limit and pay on time each month, a secured credit card can put you on the track to obtain better credit card offers.

These cards are typically designed for and offered to those with no credit or bad credit. Keep in mind that if you have good credit, you may qualify and benefit from a more rewarding card.

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What are some pros and cons?

Secured cards offer a stepping stone to building better credit, even after a financial hardship. Some even offer credit line increases based on creditworthiness and good payment history. But they typically come with higher APRs, making them unsuitable for carrying a balance. Many also have annual fees.

A credit card is one tool that can help you build your credit history. Ultimately, only you can turn your credit problems around, and each person's credit situation is different. But always making on-time payments on all of your obligations and keeping your balances low relative to your credit limits are two of the most important things you can do to positively affect your credit profile.

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Tips on Secured Cards

Don't make the mistake of thinking secured cards will automatically improve your credit history. Only you can build a good credit history. It's important to make payments each month, establish diverse credit and remain in good standing with your credit card company in order to effectively build credit.

Understand that a secured card requires a deposit that will reflect your credit limit.

Take a look at our list of cards and get on the path to better credit.

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Capital One® Secured Mastercard®
on Capital One's
secure website
  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
  • It's a credit card accepted at millions of locations worldwide
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
24.99% Variable
$0
Limited, Bad
logo
Apply Now
Discover it® Secured
on Discover's
secure website
  • No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
  • Your Secured Credit Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
  • We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
  • Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
  • Receive Free Social Security number alerts— Discover will monitor thousands of risky websites when you sign up.
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Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
10.99%
Intro APR
6 Months
Intro APR Period
24.74% Variable
$0
Limited/Bad Credit
logo
Apply Now
OpenSky® Secured Visa® Credit Card
on Capital Bank's
secure website
  • No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
  • The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
  • Build credit quickly. OpenSky reports to all 3 major credit bureaus.
  • 99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months.
  • We have a Facebook community of people just like you; there is a forum for shared experiences, and insights from others on our Facebook Fan page. (Search "OpenSky Card" in Facebook.)
  • OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.
  • *View our Cardholder Agreement located at the bottom of the application page for details of the card.
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
18.89% Variable
$35
No credit check
logo
Apply Now
First Progress Platinum Prestige MasterCard® Secured Credit Card
on First Progress's
secure website
  • Fund your new MasterCard® secured credit card with your tax refund today!
  • Our card reports monthly to all three major bureaus and approval is based upon a fully-refundable security deposit.
  • We can approve you at any credit score, no minimum required.
  • No processing or application fees required.
  • Full-featured Platinum MasterCard, accepted for car rentals, hotels, and millions of other locations worldwide.
  • Credit Line Secured by Your Fully-Refundable Deposit of $200 - $2,000 Submitted with Application
  • Nationwide Program though not yet available in NY, IA, AR, or WI
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
9.99% Variable
$49
Bad Credit
logo
Apply Now
Green Dot primor® Visa® Gold Secured Credit Card
on Green Dot primor's
secure website
  • Credit lines available from $200 to $5,000! Super Low Fixed 9.99% interest rate on purchases - with no penalty rate!
  • No minimum credit score requirements! We invite all credit types to apply! No processing or application fees!
  • Helps strengthen your credit with responsible card use. Reports to three national bureaus
  • Fast, easy application process. Choose your credit line and open your Personal Savings Deposit Account to secure your line.
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
9.99% Fixed
$49
Limited/No Credit
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Apply Now
First Progress Platinum Elite MasterCard® Secured Credit Card
on First Progress's
secure website
  • Fund your new MasterCard® secured credit card with your tax refund today!
  • Receive Your Card More Quickly with New Expedited Processing Option
  • No Credit History or Minimum Credit Score Required for Approval
  • Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted!
  • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
  • Credit Line Secured by Your Fully-Refundable Deposit of $200 - $2,000 Submitted with Application
  • Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
  • 24/7 Online Access to Your Account
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
19.99% Variable
$29
Bad Credit
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Apply Now
Green Dot primor® Mastercard® Gold Secured Credit Card
on Green Dot primor's
secure website
  • Credit lines available from $200 to $5,000! Super Low Fixed 9.99% interest rate on purchases - with no penalty rate!
  • No minimum credit score requirements! We invite all credit types to apply! No processing or application fees!
  • Helps strengthen your credit with responsible card use. Reports to three national bureaus
  • Fast, easy application process. Choose your credit line and open your Personal Savings Deposit Account to secure your line.
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
9.99% Fixed
$49
Bad Credit/No Credit
logo
Apply Now
USAA® Secured Card Visa Platinum® Card
on USAA's
secure website
  • Best for members rebuilding or establishing credit
  • It's not a debit or prepaid card
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
11.65% - 21.65% Variable
$35
Poor/Fair
logo
Apply Now
First Progress Platinum Select MasterCard® Secured Credit Card
on First Progress's
secure website
  • Fund your new MasterCard® secured credit card with your tax refund today!
  • Receive Your Card More Quickly with New Expedited Processing Option
  • No Credit History or Minimum Credit Score Required for Approval
  • Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted!
  • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
  • Credit Line Secured by Your Fully-Refundable Deposit of $200 - $2,000 Submitted with Application
  • Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
  • 24/7 Online Access to Your Account
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
13.99% Variable
$39
Bad Credit
logo
Apply Now
Green Dot primor® Visa® Classic Secured Credit Card
on Green Dot primor's
secure website
  • Credit lines available from $200 to $5,000! Low fixed 13.99% interest rate on purchases - with no penalty rate!
  • No minimum credit score requirements! We invite all credit types to apply! No processing or application fees!
  • Helps strengthen your credit with responsible card use. Reports to three national bureaus
  • Fast, easy application process. Choose your credit line and open your Personal Savings Deposit Account to secure your line.
Terms and Restrictions Apply
Purchases Balance Transfer Regular APR Annual Fee Credit Needed
N/A
Intro APR
N/A
Intro APR Period
N/A
Intro APR
N/A
Intro APR Period
13.99% Fixed
$39
No credit check