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Top Secured Credit Cards

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:
Secured cards are specifically designed for individuals with no credit, limited credit, or bad credit that require a card which is "secured" by a security deposit. The way most secured cards work is the consumer will need to pay a security deposit which is equal to the amount of their credit limit on the card. For example, if you are approved for a secured card with a $500 credit limit, you may need to make a one time security deposit of $500 to gain this credit limit. Over time, as your credit improves and you utilize the card responsibly, the bank may determine to return your security deposit, to increase your credit limit, or to convert your card to an unsecured account. The goal of a secured card is to gain access to a credit card when your credit profile may otherwise not allow it and to work towards building your credit profile. The cons of a secured card are that they often don't include many perks or benefits, can have higher than average fees, and require an upfront investment to secure the card.

Secured cards are a fantastic option for anyone interested in getting a credit card that otherwise wouldn't be able to. Make sure you select a secured card which reports to the major credit bureaus, as this will help you build your credit over time. Think of a secured card as a stepping stone. They are not going to be the best credit card offers available, but may be the only option if you have a poor credit profile. With responsible use over time, utilizing your secured card will result in your bank reporting your responsible usage to the major credit bureaus, which will help build up your credit report and credit score.

The largest benefit you should seek out in a secured card is a card which reports to the credit bureaus. Some cards, however, now offer additional perks such as an introductory 0% APR period, no annual fees, online account access, and more. Utilizing LowCards to compare the best secured credit card offers currently available will help you find the right offer for your situation and maximize your benefits.

 

PCB Secured Visa®

EDITOR RATING
Applying for this card will securely direct you to the issuer's website.

PCB Secured Visa®

Best Card Features:

• Upon credit approval, choose your initial collateral deposit between $200 and $1000; your credit limit will equal the collateral deposit amount.
• After the first year, you can request to increase the credit limit up to a maximum of $5,000 (subject to credit approval and additional collateral deposits).
• This card is perfect for people new to credit as well as people looking to rebuild their credit

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REGULAR APR

“See Issuer Website”

INTRO APR

N/A

ANNUAL FEE

“See Issuer Website”

Bad Credit

cdm-card

Recommended For: Bad Credit

Assent Platinum 0% Intro Rate Mastercard Secured Credit Card

EDITOR RATING
Applying for this card will securely direct you to the issuer's website.

Assent Platinum 0% Intro Rate Mastercard Secured Credit Card

Best Card Features:

0% Introductory APR for the first six months your account is
open, afterward regular APR.

  • Enjoy 0% APR on Purchases for Six Months!
  • Full-Feature Platinum Mastercard® Secured Credit Card
  • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History

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REGULAR APR

12.99% (V)

INTRO APR

0% Introductory APR for the first six months your account is open, afterward regular APR.

ANNUAL FEE

$49

Bad Credit

cdm-card

Recommended For: Bad Credit

OpenSky® Secured Visa® Credit Card

EDITOR RATING
Applying for this card will securely direct you to the issuer's website.

OpenSky® Secured Visa® Credit Card

Best Card Features:

Rebuild your credit, quick application

  • 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.

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REGULAR APR

17.39% (variable)

INTRO APR

N/A

ANNUAL FEE

$35

Bad Credit

cdm-card

Recommended For: Bad Credit

Merrick Bank Secured Visa® from Merrick Bank

EDITOR RATING
Applying for this card will securely direct you to the issuer's website.

Merrick Bank Secured Visa® from Merrick Bank

Best Card Features:

Unsecured credit line increases

  • Choose your own credit line based on how much money you want to put down as a security deposit.
  • Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000.
  • After 9 months, we review your account for a credit line increase. No additional deposit required!

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REGULAR APR

17.45% Variable

INTRO APR

N/A

ANNUAL FEE

$36 for first year. Billed $3 per month thereafter

Bad Credit

cdm-card

Recommended For: Bad Credit

First Progress Platinum Prestige Mastercard® Secured Credit Card

EDITOR RATING
Applying for this card will securely direct you to the issuer's website.

First Progress Platinum Prestige Mastercard® Secured Credit Card

Best Card Features:

Reports to all 3 major credit bureaus; no credit history or minimum score required for approval

  • Receive Your Card More Quickly with New Expedited Processing Option
  • No Credit History or Minimum Credit Score Required for Approval
  • Quick and Complete Online Application

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REGULAR APR

9.99% (V)

INTRO APR

N/A

ANNUAL FEE

$49

Bad Credit

cdm-card

Recommended For: Bad Credit

Applied Bank® Secured Visa® Gold Preferred® Credit Card

EDITOR RATING
Applying for this card will securely direct you to the issuer's website.

Applied Bank® Secured Visa® Gold Preferred® Credit Card

Best Card Features:

Low 9.99% fixed APR; no credit check or minimum credit score needed; reports to all 3 national credit 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

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REGULAR APR

9.99% (Fixed)

INTRO APR

N/A

ANNUAL FEE

$48

Bad Credit

cdm-card

Recommended For: Bad Credit

First Progress Platinum Elite Mastercard® Secured Credit Card

EDITOR RATING
Applying for this card will securely direct you to the issuer's website.

First Progress Platinum Elite Mastercard® Secured Credit Card

Best Card Features:

Low Annual Fee

  • Receive Your Card More Quickly with New Expedited Processing Option
  • No Credit History or Minimum Credit Score Required for Approval
  • Quick and Complete Online Application

See More »

REGULAR APR

19.99% (V)

INTRO APR

N/A

ANNUAL FEE

$29

Bad Credit

cdm-card

Recommended For: Bad Credit

More Information About Secured Cards

The secured cards offered on LowCards are designed for those with limited, poor, or no credit profile who are in need of a credit card.  While they require being “secured” with a security deposit, these cards are a fantastic stepping stone option for those looking to improve their credit and gain access to a credit card.

 

Frequent Contributor to:

LowCards.com is an independent, for-profit website. LowCards.com participates in a paid affiliate network and receives compensation from most of the credit card issuers whose offers appear on the site. This compensation helps support our website and enables us to write insightful articles to help you manage your credit card accounts. This compensation, as well as the likelihood of applicants’ credit approval and our own proprietary website guidelines, may impact how and where the cards appear on our site.

LowCards.com does not include all credit card companies or every available credit card offer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Every reasonable effort has been made to maintain accurate information, however credit card offers change frequently. After you click on an offer you will be directed to the credit card issuer’s secure web site where you can review the terms and conditions for your offer.

In some cases, LowCards has partnered with CardRatings for our coverage of credit card products. LowCards and CardRatings may receive a commission from card issuers.