Our Top Rated Secured Credit Cards
So what are some examples of these secured credit cards? Let’s take a look at some of our top picks:
Citi Secured Mastercard
If you’re looking for a secured credit card with no annual fee and a low deposit, then the Citi Secured Mastercard is an excellent choice.
While this credit card does not offer any rewards, the minimum deposit is just $200. It also comes with extremely high approval ratings.
OpenSky Secured Visa Credit Card
If you’re concerned about being rejected for a credit card due to your poor credit, then this secured credit card is a great alternative. There’s no credit check with this card, so approval isn’t dependent on your credit history.
The main approval requirement is that you have enough income to afford the monthly bill payments and that you can put down a refundable security deposit of $200. It is important to note though that this card comes with a $35 annual fee.
Capital One Secured Mastercard
This card is one of the few partially secured credit cards you can find out there. If you want to build credit at a low cost, the Capital One Secured Mastercard is a great option.
The starting credit limit is $200, the annual fee is $0, and the refundable security deposit is either $49, $99, or $200.
Discover It Secured
Not only does the Discover It Secured credit card come with a $0 annual fee, but it also offers 1 to 2 percent cashback rewards on your purchases, as well as a 0 percent interest rate in the first year.
And, this card will also double the rewards you earn in the first year.
Are You Ready to Try a Secured Credit Card?
Now that you know a bit more about secured credit cards, it’s time to decide if applying for one is right for you. If it is, then we suggest looking further into one of the cards we mentioned above.