Best Secured Credit Cards in 2024

The Capital One Platinum Secured Card is a commendable tool for individuals looking to pave their credit journey. Without the burden of annual fees and the advantage of quick approvals, this card positions itself as a user-friendly option. While the initial security deposit is a caveat, the card promises credit line enhancements within half a year based on responsible use. The cherry on top is its robust security features and the ability to monitor one's credit score seamlessly. It's suitable for those eyeing credit growth, although potential users should be mindful of its higher interest rates.

• APRS, Fees, and Penalties

  • Enjoy no annual or hidden fees, and find out if you're approved in seconds.

• Credit Building

  • Build your credit by using the Capital One Platinum Secured card responsibly.
  • Start with a refundable security deposit as low as $49 to access a $200 initial credit line.
  • Earn back your security deposit as a statement credit by making on-time payments.
  • Be automatically considered for a higher credit line in as little as 6 months without needing an additional deposit.

• Perks & Benefits

  • Benefit from $0 Fraud Liability, ensuring you're not responsible for unauthorized charges.
  • Monitor your credit score for free with CreditWise from Capital One.
  • Access your account 24/7 via online banking or the Capital One mobile app.

You can qualify for the Capital One Quicksilver Secured Cash Rewards Card with limited or bad credit and be on a path to an unsecured card after six months. Meanwhile, you earn a flat 1.5% cash back on all purchases. However, a $200 security deposit is required to get started.

• APRS, Fees, and Penalties

  • Enjoy no annual or hidden fees.

• Rewards

  • Earn unlimited 1.5% cash back on every purchase.
  • Get 5% cash back on hotels and rental cars booked through Capital One Travel.

• Perks & Benefits

  • Benefit from $0 Fraud Liability for unauthorized charges.
  • Monitor your credit score for free with CreditWise from Capital One.
  • Be considered for a higher credit line in as little as 6 months without an additional deposit.

• Credit Building

  • Secure a $200 initial credit line with a refundable $200 deposit.
  • Earn back your security deposit as a statement credit by making on-time payments.

The OpenSky® Secured Visa® Credit Card is ideal for those looking to build or rebuild credit. Its high approval rate and lack of credit check requirements make it accessible to many individuals. Users benefit from free monthly FICO score access and the ability to establish a credit history with major credit agencies, which is vital for financial health. The card's flexibility in payment scheduling and the option to fund the security deposit over time add to its user-friendliness. While it lacks a rewards program and has an annual fee, its primary focus is on fostering responsible credit use and improvement.

• Rewards

  • Earn up to 10% cash back on everyday purchases at over 40,000 retailers.

• Credit Building

  • Build or rebuild your credit, with 2 out of 3 OpenSky cardholders seeing an average score increase of 41 points in just three months.
  • Build your credit history with Experian, Equifax, and TransUnion.

• Perks & Benefits

  • Get free monthly access to your FICO score via our mobile app.
  • Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay, and Google Pay.
  • Choose a payment due date that fits your schedule with flexible payment options.

• Application Process

  • Apply without a credit check, ensuring zero credit risk.
  • Fund your card with a low $200 refundable security deposit to get a $200 credit line.
  • Apply in less than 5 minutes with our mobile-first application.
  • Fund your security deposit over 60 days with the option to make partial payments.

• User Base

  • Over 1.4 million cardholders have used the OpenSky Secured Credit Card to improve their credit.

Great if you’re improving your credit, the Discover it® Secured offers a no-annual-fee route to an unsecured card with the bonus of cash back rewards. However, an initial security deposit is required.

• Rewards   
  • Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter.    
  • Earn unlimited 1% cash back on all other purchases.  
• Perks & Benefits  
  • No credit score is required to apply.    
  • Automatic reviews start at 7 months to assess eligibility for transitioning to an unsecured line of credit.    Discover can help reduce your personal information exposure online by removing it from select people-search sites. Activate this service for free via the mobile app.    
  • Receive alerts if your Social Security number is found on Dark Web sites. Activate this service for free.  
• APRS, Fees, and Penalties  
  • No annual fee.  
• Security Deposit    
  • A refundable security deposit is required, with your credit line equal to your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.

The Chime Credit Builder Secured Visa® Credit Card is an impressive choice for those looking to construct a solid credit foundation without the burdens of annual fees or interest. It champions your credit-building journey by reporting to all major bureaus, and its no-credit-check feature makes it accessible to many. Although you'd need a Chime account and the card uses your deposited funds as collateral, its overall value is undeniable, especially when considering its universal acceptance as a Visa card. This card marries simplicity with functionality.

• The card comes with no annual fee or interest
• Applying for the card doesn't require a credit check
• To qualify for this card, set up a Chime checking account and ensure a qualifying payroll direct deposit of $200 or more
• You can instantly disable the card to guard against fraudulent activities
• This card lets you build credit with your own funds, reducing risks of debt and missed payments
• The Chime Credit Builder Card reports to all three credit bureaus
• The card is issued by Stride Bank, N.A. and is accepted wherever Visa credit cards are used
• While there's no interest, fees apply for out-of-network ATM withdrawals except in specific ATM
• Funds added to the Credit Builder act as collateral for the card, allowing you to spend up to the deposited amount

The Petal® 1 card shines as a hassle-free financial companion, especially for those on their credit-building journey. With no annual or foreign transaction fees, it's wallet-friendly both at home and abroad. The card's highlight is its ability to gauge your eligibility without the standard credit scrutiny, making the approval process less intimidating. It diligently reports to major credit bureaus, fortifying your credit-building efforts. While it has an elevated APR and rewards are merchant-specific, its features cater to those aiming for financial growth, and the supporting app ensures you stay on top of your game.

• APRs, Fees, and Penalties  
  • Enjoy no annual fee.    
  • APR ranges from 29.24% to 34.24% (variable).  
• Credit Limits   
  • Credit limits range from $300 to $5,000.    
  • Potential for a credit limit boost in just six months.  
• Rewards    
  • Earn between 2% and 10% cash back with certain retailers.   -
• Perks & Benefits  
  • Check for pre-approval quickly without affecting your credit.    
  • No foreign transaction fees.    
  • Use Petal's app to manage funds, monitor expenses, and set up automatic payments.    
  • Reports to all three major credit bureaus.    
  • Enjoy swift, secure payments with the card’s contactless technology.

The U.S. Bank Cash+® Visa Signature® Card is a good choice if you're looking to maximize cash back with 5% cash back in specific categories of your choices. However, the need for quarterly activation of 5% categories may be a hassle for some users.

• Rewards
  • Earn up to 5% cash back on your first $2,000 in combined eligible purchases each quarter across two categories of your choice. Remember to enrol each quarter to maximize your rewards.
  • Earn 2% cash back on one everyday category.
  • Earn 1% cash back on all other eligible purchases.
• Introductory Offers
  • Enjoy a $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.
  • Benefit from a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles, then a variable APR of 18.74% – 28.99% after that.
• APRs, Fees, and Penalties
  • Regular purchase APR ranges from 18.74% – 28.99%  variable.
  • No annual fee.

The First Progress Platinum Elite Mastercard® Secured Credit Card is ideal for those starting or rebuilding their credit journey. Its standout feature is the customizable credit line, which aligns with your deposit, granting much-needed flexibility. Additionally, there's no minimum credit score requirement, making it accessible to many users. Regular reporting to the major credit bureaus ensures your responsible spending and payment habits contribute positively to your credit score. While it lacks rewards and has an annual fee, its primary value lies in being a practical, accessible tool for credit building and management.

• Credit Building Features
  • No minimum credit score required, making it accessible for those looking to build or rebuild credit.  
  • Reports to all three major credit bureaus, which can help improve your credit score with responsible use.  
• Credit Line Options  
  • Select a credit line from $200 to $2,000, determined by your security deposit, offering flexibility based on your financial situation.  
• APRs, Fees, and Penalties  
  • Regular APR of 25.24% (variable), which is important to consider for carrying a balance.  
  • $29 annual fee, a cost to factor into your budget.

The Self - Credit Builder Account with Secured Visa® Credit Card is an excellent tool for those building or rebuilding their credit. It uniquely blends credit building with savings, reporting to all three bureaus to enhance your credit profile. Its eligibility criteria encourage timely payments and savings discipline, making it ideal for anyone looking to develop healthy financial habits. While it does come with some fees and lacks immediate availability and rewards, its primary value lies in fostering responsible credit use and offering a pathway to improved financial standing.

• Minimum security deposit of $100 to fund your card.
• No credit check is required to apply, making it accessible to everyone.
• Use your card anywhere Visa® is accepted.
• Build credit history by making on-time payments and keeping a low credit utilization ratio.
• If you don't have the $100 deposit, consider starting with a Credit Builder Account with payments starting at $25 per month.
• The secured Self Visa® Credit Card is issued by Lead Bank or First Century Bank, N.A., both FDIC members.
• Credit Builder Accounts and Certificates of Deposit are held by Lead Bank, Sunrise Banks, N.A., or First Century Bank, N.A., all FDIC members.
• Qualification for the secured Self Visa® Credit Card depends on meeting eligibility requirements, including income and expenses.
• $25/mo, 24 mos, 15.92% APR; $35/mo, 24 mos, 15.69% APR; $48/mo, 24 mos, 15.51% APR; $150/mo, 24 mos, 15.82% APR. See pricing

The First Progress Platinum Prestige Mastercard® Secured Credit Card stands out as an accessible and rewarding option, especially for those with limited or challenging credit histories. It allows you to earn cash back on your expenditures, a rare feature in secured cards. The flexible credit line, backed by a security deposit, offers control over your credit limits, catering to various financial situations. Although it has an annual fee and requires a deposit, its credit-building potential and cash back rewards make it a valuable tool for financially savvy individuals looking to improve or establish their credit.

• Rewards  
  • Earn 1% cash back on your purchases.
• Perks & Benefits  
  • Fund your security deposit over 90 days, with the option to make partial payments.  
  • Build your credit history with reporting to Equifax, Experian, and TransUnion.  
  • Open to applicants with all credit types.
• Credit Building  
  • Rebuild your credit with responsible use, such as keeping your balance low and paying on time.

The Bank of America® Unlimited Cash Rewards Secured Credit Card stands out for its unique blend of cash back rewards and credit-building potential, all with no annual fee. It's an excellent tool if you're looking to enhance your credit score while enjoying the perks of a rewards card. The required security deposit, which influences the credit limit, offers a structured way to manage spending. Regular reviews could lead to the deposit's return, incentivizing responsible use. Additionally, the card provides valuable financial insights through free FICO® Score access and comprehensive online banking services, making it a practical choice for financially savvy users.

• Earn unlimited 1.5% cash back on all purchases, and rewards do not expire
• No annual fee
• Security deposit between $200 and $5,000 required
• Credit limit is based on income and payment ability
• This credit card helps build credit with responsible use
• Periodic account reviews may lead to return of security deposit depending on overall credit history
• Free monthly access to FICO® Score through mobile banking app or online banking, with insights into score-affecting factors
• Includes credit education on responsible credit card use and budgeting
• Standard variable APR of 28.24%
• Balance transfers incur a fee of 3% per transaction
• Fraud protection with alerts for abnormal patterns and a $0 Liability Guarantee for fraudulent transactions
• Customizable email or text alerts for balance monitoring, due dates and payment confirmations
• Access to award-winning online and mobile banking for card management, bill payment and fund transfers

The Bank of America® Customized Cash Rewards Secured Credit Card is ideal for those looking to build credit while enjoying flexible rewards. Its standout feature is adaptable cash back in various everyday spending categories, coupled with a user-friendly system for category selection. The card also offers the potential to transition to an unsecured card, enhancing its long-term value. Users benefit from robust fraud protection and access to online banking tools. However, the card's security deposit and a high APR require careful financial management. Overall, this card skillfully balances credit-building with rewarding spending.

• No annual fee
• Earn 3% cash back in a category of your choice: gas and EV charging, online shopping, dining, travel, drug stores or home improvement and furnishings
• Earn 2% cash back at grocery stores and wholesale clubs
• Earn unlimited 1% cash back on all other purchases
• 3% and 2% cash back have a $2,500 purchase limit each quarter; afterward, cash back becomes 1%
• Minimum security deposit of $200 required; maximum of $5,000
• Credit limit based on security deposit, income and ability to pay
• Potential for security deposit return based on credit history
• Change your choice category monthly through mobile app or online banking
• Free monthly FICO® Score access through mobile app or online banking
• Standard APR of 28.74% (variable)
• Balance transfer fee of 3% per transaction
• Fraud protection with abnormal pattern detection and $0 Liability Guarantee
• Access to award-winning mobile app and online banking for bill payment and more

The U.S. Bank Altitude® Go Secured Visa® Card is a practical choice for those seeking to build or rebuild credit. It's a secured card that offers the potential for high rewards in popular spending categories like dining and groceries, coupled with the convenience of no annual fee. One of its key features is the opportunity to upgrade to an unsecured card, reflecting responsible usage. Additionally, the card offers regular credit bureau reporting and a unique streaming credit perk. While it requires a security deposit, its overall functionality and benefits make it a strong contender for credit-conscious individuals.

• Rewards   
  • Earn 4X points on dining, takeout, and restaurant delivery.    
  • Earn 2X points at grocery stores, grocery delivery, streaming services, gas stations, and EV charging stations.  
  • All other eligible purchases earn 1X point.    
  • Points never expire and can be redeemed immediately or saved for later use.  
• Perks & Benefits    
  • Zero fraud liability for unauthorized transactions if the card is lost or stolen.    
  • Compatibility with mobile wallets for secure tap payments.    
  • $15 streaming credit annually for services like Netflix and Spotify after 11 months of streaming purchases.  
• Credit Building  
  • Regular reporting to the three major credit bureaus to assist in credit building.    
  • Designed for individuals looking to build or rebuild credit with fair credit scores.  
• APRS, Fees, and Penalties    
  • No annual fee.  
  • Requires a security deposit ranging from $300 to $5,000.  
• Upgrade Potential    
  • Potential upgrade to U.S. Bank Altitude Go Visa Signature Card with a security deposit refund for responsible use.

The Citi® Secured Mastercard® is an excellent starter card for those building or rebuilding their credit. It reports to major credit bureaus, boosting credit history with responsible use. The card requires a security deposit, which doubles as your credit limit, ensuring controlled spending. Its standout feature is free access to your FICO score, a valuable tool for monitoring credit progress. With no annual fee and worldwide acceptance, it's both cost-effective and globally functional. The card also offers digital wallet compatibility, flexible payment options and robust security features like ID Theft Protection, making it a practical choice for everyday use.

• APRS, Fees, and Penalties

  • Enjoy no annual fee with this card.
  • The card has a variable purchase APR of 27.74%.

• Credit Building Features

  • Your credit limit is determined by a security deposit, ranging from $200 to $2,500.
  • Build your credit with monthly reports to all three major credit bureaus.
  • Accepts customers with little or no credit history.

• Account Management and Security

  • Get free access to your FICO score online.
  • Use Auto Pay and account alerts for easier account management.
  • Choose your payment date with flexible payment due dates.
  • Manage your account online, by phone, or via mobile app 24/7.
  • Use Digital Wallets for secure and convenient online, app, and in-store shopping.
  • Enjoy complete protection against unauthorized charges.
  • Benefit from Mastercard ID Theft Protection at no extra cost.

• Global Acceptance

  • Accepted worldwide wherever Mastercard is accepted.

The OpenSky® Plus Secured Visa® Credit Card is an excellent choice if you are seeking to build or repair your credit without worrying about a credit check. It is highly accessible, boasting a high approval rate and reporting to major credit bureaus, thus helping improve your credit score. Although it requires a security deposit, it compensates with no annual fees and tools like payment notifications and spending limits to encourage responsible financial behavior. It is ideal for anyone prioritizing credit health over rewards or introductory offers.

• Rewards

  • Earn up to 10% cash back on purchases at over 40,000 retailers.

• APRs, Fees, and Penalties

  • No annual fee.

• Credit Building

  • No credit check required for application. Get an instant approval decision.
  • 2 out of 3 OpenSky cardholders see an average credit score increase of 41 points in just 3 months.
  • Build your credit history with Experian, Equifax, and TransUnion.

• Perks & Benefits

  • Free access to your FICO Credit Score.
  • Compatible with Apple Pay, Samsung Pay, and Google Pay.
  • Flexible payment due dates to fit your schedule.
  • Option to make smaller partial payments towards security deposit over 60 days.

The Navy Federal Credit Union® nRewards® Secured Credit Card stands out for its combination of rewards and financial growth opportunities. With points earned on every purchase and flexible redemption options, it’s a practical choice for everyday spending. The card notably lacks annual, balance transfer and foreign transaction fees, enhancing its value. Eligibility for a credit upgrade after responsible use further cements its appeal, especially for those building or rebuilding credit. While it requires credit union membership and a security deposit, its strengths make it a compelling option for savvy financial users.

• APRs, Fees, and Penalties
  • No annual, balance transfer, foreign transaction, or cash advance fees.
  • 18.00% variable APR for purchases and balance transfers.
• Rewards
  • Earn 1 point per dollar spent.
  • No limit on reward earnings, with rewards expiring after four years.
  • Points redeemable for cash, statement credit, gift cards, and merchandise.
• Perks & Benefits
  • Eligibility for credit upgrade without additional security deposit after three months, dependent on credit limit and other factors.
  • After six months, you get a review for potential upgrade to unsecured card, with on-time payments and credit limit adherence improving chances.
  • Includes rental car coverage.
• Membership Requirements
  • Requires Navy Federal Credit Union membership.
  • Required deposit of at least $200 into membership savings account to back spending, held as security if approved.

The DCU Visa® Platinum Secured Credit Card stands out for its user-friendly features, making it a solid choice for building or rebuilding credit. It offers a fee-free experience, removing the burden of annual and transactional fees. The card’s commitment to security is evident through robust fraud alerts and the option to freeze or unfreeze your card. Although it lacks reward incentives and requires a security deposit and credit union membership, its overall functionality makes it a practical and secure option for responsible credit management.

• APRs, Fees, and Penalties

  • A security deposit is required.
  • Enjoy no annual, balance transfer, foreign transaction, or cash advance fees.
  • The APR ranges from 16.25% to 18% variable.

• Perks & Benefits

  • Benefit from Visa perks, including travel and live music experiences.
  • Get free same-day delivery on orders over $35 with your free Visa credit cardholder membership.
  • Stay secure with fraud notifications and the ability to freeze or unfreeze your card.
  • Your personal information is encrypted in Mobile Wallet transactions.
  • Access your free monthly credit score based on Equifax data, complete with explanatory reasons.
  • Protect your identity with ID Navigator, offering identity theft protection, dark web monitoring, and data breach notifications.
  • Enjoy extended warranties on eligible items purchased with your Visa card.

• Membership Requirements

  • Membership to the Digital Federal Credit Union is required.