These secured credit cards require some form of "security deposit" to be issued a card. They are a great building block for those with bad or no credit, and many report to the major credit bureaus.
Each card below contains our editor’s rating and objective opinion. Most of the credit card offers shown below are from our advertising partners, however LowCards editors have reviewed each of the features and benefits of the cards below and sorted them in order of our editor’s opinion:
- No Annual Fee, and unlike a prepaid card, it helps build credit history with monthly notifications to the credit bureaus
- A security deposit is required for this product (minimum $200)
- Pay your bill on time every month to avoid damaging your credit. Citi can help keep you on track with Auto Pay, online Bill Pay and alerts.
- 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
- With Netspend Direct Deposit, you can get paid faster than a paper check.
- No late fees or interest charges because this is not a credit card.
- Use the NetSpend Mobile App to manage your account on the go and get text message or email alerts (Message & data rates may apply).
- Move money from your PayPal account in realtime
- Take advantage of PayPal cash back rewards and earn on qualifying purchases from select
merchants. With Direct Deposit, you can get paid faster than a paper check.
- No Late fees because this is not a credit card.
- 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
- Better than Prepaid…Go with a Secured Card! Load One Time – Keep On Using
- Absolutely No Credit Check or Minimum Credit Score Required
- Automatic Reporting to All Three National Credit Bureaus
- Unsecured credit line increases – After the first year, your account will be regularly reviewed for credit line increases with no additional security deposit required.
- Monthly FICO® Score for free – get your updated FICO® Score each month when it is provided to us from the credit bureau.
- Build your credit – performance is reported to all three major credit bureaus, unlike a prepaid card.
- Good credit or bank account not required
- Your application will not impact your credit score
- Initial security deposit can be as low as $200
- 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.