Filter by:
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Showing 7 results
Best for building credit
Bankrate score
4.1
Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Bankrate review
No Credit History
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
on
Capital One
's secure site
Intro offer
Intro offer is not available for this Capital One credit card.
N/A
Annual fee
$0
Regular APR
29.99% (Variable)
Why you'll like this: It offers a simple, low-cost way to build credit, and Capital One offers a great mix of rewards cards should you want to upgrade in the future.
Best for flexible deposit
Bankrate score
4.2
Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Bankrate review
No Credit History
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
on
Chime
's secure site
Regular APR
N/A
Annual fee
None
Why you'll like this: It helps establish or rebuild credit with no annual fee, no credit score required for approval and an option to upgrade to an unsecured card over time.
Best card with a welcome offer
Bankrate score
4.5
Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Bankrate review
No Credit History
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
on
Discover
's secure site
Regular APR
28.24% Variable APR
Annual fee
$0
Why you'll like this: It allows you to build credit while earning cash back at gas stations and restaurants.
Best starter rewards card
Bankrate score
4.0
Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Bankrate review
No Credit History
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
on
Capital One
's secure site
Regular APR
29.99% (Variable)
Annual fee
$0
Why you'll like this: It offers a solid flat cash back rate and a chance at a credit limit increase in as little as six months if you use the card responsibly.
Best for building a credit mix
Bankrate score
3.1
Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Bankrate review
No Credit History
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
on
Self
's secure site
Regular APR
28.74% (Variable)
Annual fee
$25
Why you'll like this: It helps you build credit and save money with monthly payments into a savings account that secures a credit limit on the accompanying secured credit card.
Best for low interest
Bankrate score
2.8
Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Bankrate review
No Credit History
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
on
First Progress
's secure site
Regular APR
15.24% (Variable)
Annual fee
$49
Why you'll like this: Your security deposit determines your credit limit, allowing you to establish credit and potentially receive lower interest rates than with many unsecured cards.
Best for after bankruptcy
Bankrate score
3.1
Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Bankrate review
No Credit History
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
on
Capital Bank
's secure site
Regular APR
25.64% (variable)
Annual fee
$35
Why you'll like this: Since it doesn’t require a credit check, it’s one of the most accessible options for people without credit histories or poor credit.
Add up to 3 cards to compare
Compare
Remove a card to add another to compare
Remove a card to add another to compare
Compare Bankrate's top secured credit cards
| Card Name | Best For | Annual fee | Bankrate Review Score |
|---|---|---|---|
 | Building credit | 4.1 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) on Capital One's secure site | |
 | Flexible deposit | 4.2 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) on Chime's secure site | |
 | Welcome offer | 4.5 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) on Discover's secure site | |
 | Starter rewards card | 4.0 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) on Capital One's secure site | |
 | High credit limit | ||
 | Building a credit mix | 3.1 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) on Self's secure site | |
 | Low interest | 2.8 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) on First Progress's secure site | |
 | Card for after bankruptcy | 3.1 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) on Capital Bank's secure site |
What is a secured credit card?
A secured credit card is similar to an unsecured one, except it has a refundable security deposit as collateral. You pay this deposit — which typically acts as the card’s credit limit — when you open your account. The issuer may refund the deposit and upgrade the card to an unsecured version after you show responsible credit use.
Want to learn more? Read our full guide on how secured credit cards work.
Secured vs. unsecured credit cards
Credit builders often start with a secured credit card, and then graduate to an unsecured credit card with better rewards rates and lower fees as their scores improve.
While the biggest cost difference between secured and unsecured cards is the security deposit, there are also other fees and features to keep in mind.
| Factors | Secured card | Unsecured for bad credit |
|---|---|---|
| Minimum credit score | No credit history or bad credit (below 580 FICO) | Bad credit (below 580 FICO) |
| Typical minimum security deposit | $50–$300 | $0 |
| Builds credit? | Yes | Yes |
| Annual fee | Sometimes (typically around $49, but many no-annual-fee options available) | Commonly (can be $99 or more, and no-annual-fee options are harder to find) |
| Rewards | Rarely | Sometimes |
Our data: Secured cards might be easier to get
When you’re building or rebuilding credit, it’s important to apply for a new credit card with the confidence that you’ll get approved. Otherwise, your credit score could take a slight hit with a hard inquiry, and you may not even end up with a new card. We analyzed our proprietary data to compare the approval rates for secured cards and unsecured cards that Bankrate readers applied for on our site in 2023.
According to our data, Bankrate users with bad credit and thin credit are 23 percent more likely to get approved for a secured credit card than they are to get approved for an unsecured card for bad credit.
While secured credit cards usually require a security deposit to back your credit limit, this extra requirement makes them easier to get approval for. As long as you can afford to put down the security deposit, you may have better chances of getting approved for a secured card than an unsecured card.
LEARN MORE What’s the difference between secured and unsecured credit cards?
Pros and cons of secured credit cards
Pros
Access to credit: A secured card is handy when a merchant doesn’t accept cash, like for a hotel reservation or a rental car.
Lighter application requirements: People with limited or low credit scores typically find application requirements for secured cards to be more forgiving and accessible. For instance, some applications don't even require a credit check to apply.
Accountability: Because you can typically spend only up to the amount of your security deposit, a secured card can help keep your spending in check.
Refundable deposits: You can often get your deposit back after demonstrating responsible card use.
Cons
Extra fees: Some secured cards may charge fees for opening the account, which can reduce the amount of available credit you have left to use.
High APRs: Many secured cards charge higher-than-average APRs, which can be expensive if you don’t pay your credit card bill on time and in full.
Limited features: Secured cards tend to focus on credit-building and typically lack features like welcome offers, intro APR offers or other perks that add long-term value.
In the news: Credit card balances are still on the rise
The struggle between Americans and interest rates continues. While rates have not increased since July 2023, they remain high, with the average credit card interest rate hovering just below 21 percent.
According to Bankrate’s 2024 Credit Card Debt Report, revolving credit card debt has increased in the past year, with around 44 percent of U.S. adults carrying a card balance from month to month and around 39 percent saying they had carried a balance for over two years.
High interest rates make it harder to pay off debt — missed payments and high credit utilization ratios can bring down credit scores and make it harder to qualify for new loans and credit cards. Even if interest rates decrease soon, the damage will already be done to many people.
Expert advice on secured credit cards
When used responsibly, secured credit cards can help you build or rebuild credit. Working on your credit will get you closer to qualifying for cards with better features and benefits. Once you're ready to apply, here’s what to consider when choosing a secured credit card that’s right for you:
How to choose a secured credit card
Here are some tips to remember when you’re shopping among the best secured credit cards:
- Security deposit: Ideally, you should get a credit limit high enough that your credit utilization ratio can comfortably remain below 30 percent once you’ve accounted for your usual monthly spending.
- Upgrade paths: Some secured cards will let you upgrade to an unsecured version once your credit improves.
- Fees: In addition to high interest rates, watch out for common credit card fees. With the right card and careful use, you can avoid late payment fees, foreign transaction fees and penalty APRs.
- Credit reporting: Reports of good payment behavior to Equifax, Experian or TransUnion are essential for building or repairing credit. Make sure that the issuer reports card usage to at least one of the bureaus so that your good habits — on-time payments, paying in full, low utilization and more — don’t go unnoticed.
- Prequalification: Some issuers won’t give cards to people with past bankruptcies, high debt levels or low income. Depending on your financial situation, consider looking at cards that let you see if you’re prequalified before you apply.
Try it out: Bankrate’s CardMatch™ feature is an easy way to see if you prequalify for select cards within your credit range.
Tips for rebuilding credit with a secured credit card
While you’ll want to upgrade to an unsecured card as soon as possible, you can still use your time with your secured card to your advantage. Use the following tips to make sure you get the most out of your secured credit card.
Take this time to practice good habits
Use your secured card as a tool to help build your credit with relative ease. Keep your credit utilization ratio in check and stay on top of your credit card bills. You should pay at least the minimum due every month, but paying off the entire balance is best to avoid interest charges. It takes time to increase your credit score, so be patient as you learn to use credit cards.
Submit a large security deposit:
Putting down more money could result in a higher credit limit, making it easier to keep your credit utilization in check. Try putting down as much as possible for a deposit to keep your credit utilization low. If you can only put down the required minimum, prioritize keeping your utilization low so you don’t hurt your score.
Upgrade to an unsecured card when possible
Once you’ve worked your way up to fair creditand beyond, you can think about upgrading to an unsecured card that might offer better rewards programs and lower fees. If your secured card has maintenance or inactivity fees, it may be a good idea to close your card. Otherwise, there’s no harm in keeping it open for the occasional small purchase to add to the length of your credit history.
Get your security deposit back
If you decide to close your secured card, make sure to get your security deposit back. It may take 30 to 90 days for the issuer to refund your deposit in the form of a statement credit or check.
Bankrate’s take:As you use a secured card to build credit, track your progress on your credit report. You can request a free copy of your credit report from each of the three credit bureaus every year.
What people are saying about secured cards
It’s crucial to start on the right foot when you begin your credit journey, and advice from people who’ve been in your situation can help. We explored what Redditors from r/CreditCards had to say about using secured cards and their favorite choices.
One tried-and-true piece of advice: Be patient with your first card. You won’t see your credit-building efforts reflected in your score for at least six months, so don’t apply to more cards until your score is ready.
“I wouldn't rush to get more cards right now. Focus on building your credit and becoming eligible for non-secured cards. Then, you can go crazy with applications,” one user said in response to another asking if they should get a second secured card.*
Another user agrees, posting on r/CreditCards: “I would only have the one secured card and then once you graduate that into an unsecured product I would start getting unsecured cards to build up a setup,”.*
Among the more popular advice was favored secured cards, which often included the Discover it® Secured Credit Card and Capital One Quicksilver Secured card.
But how much should you deposit on a secured credit card? That depends on your financial situation and how you plan to use the card.
“I think the amount you put down for the security deposit depends on your place in life at the moment and how much you trust your own financial responsibility,” one Redditor said in a separate post regarding security deposits and higher limits.* “You may not need a super high limit and choose to put gas/minor purchases on it to rebuild credit, or use a low limit as a deterrent to overspending. Or you may use the card as a more daily driver option and require a higher limit to make your monthly purchases.”
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
How we assess the best secured cards
50+
cards rated
500+
data points analyzed
250+
fees tracked
40+
perks evaluated
When evaluating the best secured credit cards, we consider a mix of factors, including how cards score in our proprietary card rating system and whether cards offer features that make it easy to build credit history while keeping costs low.
We analyzed over 50 of the most popular cards designed for people with a fair credit score and rated each based on its cost, APR, credit-building features and more to determine whether it belonged in this month’s roundup.
Here are some of the key factors that we considered:
Build credit, minimize fees
Secured cards run the gamut, from basic no-annual-fee cards to cash back cards to cards with sky-high fees and APRs. Our rating methodology for these cards focuses on two key factors: How easy a card makes it to build credit and the costs you’ll face along the way.
Cost45.00%
Ease of building credit25.00%
APR10.00%
Perks10.00%
Customer experience10.00%
More information on secured credit cards
How long should you keep a secured card?
7 credit card tips for beginners
Can You Get A Secured Credit Card With No Bank Account?
How to get a credit card with no credit history
Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Frequently asked questions about secured credit cards
Courtney MihocikArrow RightSenior Editor, Credit Cards
Courtney Mihocik is an editor at Bankrate Credit Cards and CreditCards.com specializing in credit card news and personal finance advice. Previously, she led insurance content at…
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
 - Shopify)