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Best Secured Credit Cards Of 2025

Updated: Feb 24, 2025, 12:42pm
Jon Nickel-D'Andrea
Jon Nickel-D'Andrea
Jon Nickel-D'AndreaCredit Cards Expert Writer
For more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Comb...
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Written By
Jon Nickel-D'Andrea
Jon Nickel-D'Andrea
Jon Nickel-D'AndreaCredit Cards Expert Writer
For more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Comb...
Read Full BioSee Full Bio
Credit Cards Expert Writer
Robin Saks Frankel
Robin Saks Frankel
Robin Saks FrankelSenior Staff Writer
Robin has worked as a credit cards, editor and spokesperson for over a decade. Prior to Forbes Advisor, she also covered credit cards and related content for other national web publications including USA TODAY, NerdWallet, Bankrate and HerMoney. She...
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Edited By
Robin Saks Frankel
Robin Saks Frankel
Robin Saks FrankelSenior Staff Writer
Robin has worked as a credit cards, editor and spokesperson for over a decade. Prior to Forbes Advisor, she also covered credit cards and related content for other national web publications including USA TODAY, NerdWallet, Bankrate and HerMoney. She...
Read Full BioSee Full Bio
Senior Staff Writer
Laura D. Adams, MBA
Laura D. Adams, MBA
Expert Reviewed by
Laura D. Adams, MBAInsurance and Credit Card Expert
Insurance and credit cards expert Laura Adams is one of the nation’s leading personal finance and small business authorities. As an award-winning author of multiple books, keynote speaker, host of the "Money Girl" podcast (more than 42 million downlo...
Read Full BioSee Full Bio
Expert Reviewed
Laura D. Adams, MBA
Laura D. Adams, MBA
Expert Reviewed by
Laura D. Adams, MBAInsurance and Credit Card Expert
Insurance and credit cards expert Laura Adams is one of the nation’s leading personal finance and small business authorities. As an award-winning author of multiple books, keynote speaker, host of the "Money Girl" podcast (more than 42 million downlo...
Read Full BioSee Full Bio
Insurance and Credit Card Expert
& 2 others
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Secured cards provide a path for those with bad credit or no credit to establish positive credit history. With a secured credit card, you pay a cash security deposit upfront which serves as collateral to protect the lender. Typically, the amount you deposit will be equal to the credit limit you’ll receive. The best secured cards reward you for responsible management of your account and allow you to graduate to an unsecured card after a period of responsible credit behavior.

Why you can trust Forbes Advisor

Our credit card editors are committed to bringing you unbiased ratings and information. Advertisers do not and cannot influence our ratings. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below.

  • Unbiased editorial team
  • No AI writing
  • 400+ credit cards rated
  • 65 years of industry experience
Read more
Show Summary

The Best Secured Credit Cards

Find The Best Credit Card

Summary of the Best Secured Credit Cards of 2025

CREDIT CARD OUR Rating & DETAILS
Super.com Secured Credit Card
Super.com Secured Credit Card *
5.0

Welcome Bonus

N/A

Credit Score

No Credit Check

Annual Fee

$0

Capital One Quicksilver Secured Cash Rewards Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card
Apply Now Apply Now
On Capital One's Website
Rates & Fees
4.7

Welcome Bonus

N/A

Credit Score

Limited, Bad

Annual Fee

$0

Bank of America® Travel Rewards Secured Credit Card
Bank of America® Travel Rewards Secured Credit Card *
4.7

Welcome Bonus

N/A

Credit Score

Limited, Bad, Fair

Annual Fee

$0

Bank of America® Customized Cash Rewards Secured Credit Card
Bank of America® Customized Cash Rewards Secured Credit Card *
4.6

Welcome Bonus

N/A

Credit Score

New to Credit

Annual Fee

$0

Discover it® Secured Credit Card
Discover it® Secured Credit Card
Apply Now Apply Now
On Discover's Website
Rates & Fees
4.4

Welcome Bonus

Cashback Match™

Credit Score

New/Rebuilding

Annual Fee

$0

Bank of America® Unlimited Cash Rewards Secured Credit Card
Bank of America® Unlimited Cash Rewards Secured Credit Card *
4.4

Welcome Bonus

N/A

Credit Score

Bad/Poor

Annual Fee

$0

Secured Chime Credit Builder Visa® Credit Card
Secured Chime Credit Builder Visa® Credit Card
Apply Now Apply Now
On Chime's Website
4.3

Welcome Bonus

N/A

Credit Score

Poor, Average

Annual Fee

$0

U.S. Bank Altitude® Go Secured Visa® Card
U.S. Bank Altitude® Go Secured Visa® Card *
4.3

Welcome Bonus

N/A

Credit Score

Fair/Good

Annual Fee

$0

U.S. Bank Cash+® Secured Visa® Card
U.S. Bank Cash+® Secured Visa® Card *
4.3

Welcome Bonus

N/A

Credit Score

Good

Annual Fee

$0

First Progress Platinum Select Mastercard® Secured Credit Card
First Progress Platinum Select Mastercard® Secured Credit Card
Apply Now Apply Now
On First Progress's Website
4.2

Welcome Bonus

N/A

Credit Score

Poor/Limited/No Credit

Annual Fee

$39

Credit Card
Super.com Secured Credit Card
Super.com Secured Credit Card *
Capital One Quicksilver Secured Cash Rewards Credit Card
Rates & Fees
Capital One Quicksilver Secured Cash Rewards Credit Card
Apply Now Apply Now
On Capital One's Website
Bank of America® Travel Rewards Secured Credit Card
Bank of America® Travel Rewards Secured Credit Card *
Bank of America® Customized Cash Rewards Secured Credit Card
Bank of America® Customized Cash Rewards Secured Credit Card *
Discover it® Secured Credit Card
Rates & Fees
Discover it® Secured Credit Card
Apply Now Apply Now
On Discover's Website
Bank of America® Unlimited Cash Rewards Secured Credit Card
Bank of America® Unlimited Cash Rewards Secured Credit Card *
Secured Chime Credit Builder Visa® Credit Card
Secured Chime Credit Builder Visa® Credit Card
Apply Now Apply Now
On Chime's Website
U.S. Bank Altitude® Go Secured Visa® Card
U.S. Bank Altitude® Go Secured Visa® Card *
U.S. Bank Cash+® Secured Visa® Card
U.S. Bank Cash+® Secured Visa® Card *
First Progress Platinum Select Mastercard® Secured Credit Card
First Progress Platinum Select Mastercard® Secured Credit Card
Apply Now Apply Now
On First Progress's Website
Credit Card
Our Rating
Annual Fee
Credit Score
Welcome Bonus
Learn More
Super.com Secured Credit Card
Super.com Secured Credit Card *
5.0
$0
No Credit Check
N/A
Capital One Quicksilver Secured Cash Rewards Credit Card
Rates & Fees
Capital One Quicksilver Secured Cash Rewards Credit Card
4.7
$0
Limited, Bad
N/A
Apply Now Apply Now
On Capital One's Website
Bank of America® Travel Rewards Secured Credit Card
Bank of America® Travel Rewards Secured Credit Card *
4.7
$0
Limited, Bad, Fair
N/A
Bank of America® Customized Cash Rewards Secured Credit Card
Bank of America® Customized Cash Rewards Secured Credit Card *
4.6
$0
New to Credit
N/A
Discover it® Secured Credit Card
Rates & Fees
Discover it® Secured Credit Card
4.4
$0
New/Rebuilding
Cashback Match™
Apply Now Apply Now
On Discover's Website
Bank of America® Unlimited Cash Rewards Secured Credit Card
Bank of America® Unlimited Cash Rewards Secured Credit Card *
4.4
$0
Bad/Poor
N/A
Secured Chime Credit Builder Visa® Credit Card
Secured Chime Credit Builder Visa® Credit Card
4.3
$0
Poor, Average
N/A
Apply Now Apply Now
On Chime's Website
U.S. Bank Altitude® Go Secured Visa® Card
U.S. Bank Altitude® Go Secured Visa® Card *
4.3
$0
Fair/Good
N/A
U.S. Bank Cash+® Secured Visa® Card
U.S. Bank Cash+® Secured Visa® Card *
4.3
$0
Good
N/A
First Progress Platinum Select Mastercard® Secured Credit Card
First Progress Platinum Select Mastercard® Secured Credit Card
4.2
$39
Poor/Limited/No Credit
N/A
Apply Now Apply Now
On First Progress's Website
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Intro Offer: Unlimited Cashback Match™ - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Intro Offer: Unlimited Cashback Match™ - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
N/A
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Best Secured Credit Cards of 2025

Best Secured Card for Hotel Purchases

Super.com Secured Credit Card *

Super.com Secured Credit Card
5.0
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Up to 10% Reward Rate

Earn 10% cash back on purchases with SuperTravel; earn 5% back on purchases of 500+ major brands in the SuperShop;Read More

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

N/A

Credit Score

No Credit Check

Our Expert Take

The Super.com Secured Credit Card* offers some of the highest rewards rates you’ll find in a secured card.

Why We Like It

The earning rate on hotels booked through Super’s travel portal is among the highest available for any card, secured or otherwise. The card doesn’t charge foreign transaction fees and offers an array of other discounts on your spending. You can also get the card without a credit check and it doesn’t charge interest on your purchases.

What We Don’t Like

The Super.com Secured Credit Card* doesn’t offer any bonus categories for purchases outside Super’s ecosystem. Additionally, one of the biggest downsides is that this is a strictly virtual card, so you can’t get a physical piece of plastic to carry in your wallet. However, you can add the Super card to your phone’s mobile wallet which means it can be used for some in-person transactions in addition to all online purchases.

Who It’s Best For

This could be a good option for anyone who wants a secured credit card with a low barrier to entry, but it will be most rewarding for those who are willing to make many of their shopping and travel purchases on Super.com.

Pros & Cons
  • Doesn’t require a credit check
  • Has no interest or fees
  • Regular reporting to credit bureaus
  • Offers cash back
  • Limits how much you can load and spend
  • Withdrawing from your SuperCash account is inconvenient
  • Requires a Super+ subscription, which costs $15 per month
Card Details
  • Earn 10% cash back on purchases with SuperTravel, 5% back on purchases of 500+ major brands in the SuperShop and 1% back on all other purchases
  • No annual fee or APR
  • No minimum income or balance
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Flat-Rate Cash Back

Capital One Quicksilver Secured Cash Rewards Credit Card

Apply Now Apply Now
On Capital One's Website
Capital One Quicksilver Secured Cash Rewards Credit Card
Click Here To Apply Now
Rates & Fees 
4.7
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Apply Now Apply Now
On Capital One's Website

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

29.74% (Variable)

Credit Score

Limited, Bad

Our Expert Take

The Capital One Quicksilver Secured Cash Rewards Credit Card is worth considering for anyone who wants a clear, and potentially fast, upgrade path to an unsecured card.

Why We Like It

While most secured credit cards allow you to get your deposit back after an account review or when you close your account in good standing, not every card makes it as easy as the Capital One Quicksilver Secured Cash Rewards Credit Card. Starting at six months, the issuer will review your account to see if you qualify for a higher credit line with no additional deposit. Capital One allows a minimum opening deposit as low as $200. There’s no foreign transaction fee on this card (rates & fees).

What We Don’t Like

Earning a flat 1.5% back on most purchases means you lose the opportunity to earn higher rewards through bonus categories (other than eligible Capital One Travel bookings). But if you’re unfamiliar with maximizing rewards or it seems too complicated to do that and build credit, this drawback may not be an issue.

Who It’s Best For

The Capital One Quicksilver Secured Cash Rewards Credit Card is best for those looking for an easy path to building credit and earning rewards.

Pros & Cons
  • Unlimited 1.5% cash back reward on all eligible purchases
  • No foreign transaction fees
  • Reports to all three credit bureaus
  • Ability to graduate to an unsecured card with good payment behavior
  • No bonus categories other than Capital One Travel bookings
  • $200 minimum opening deposit
Card Details
  • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you’re approved in seconds
  • Put down a refundable $200 security deposit to get a $200 initial credit line
  • Building your credit? Using a card like this responsibly could help
  • Enjoy peace of mind with $0 Fraud Liability so that you won’t be responsible for unauthorized charges
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options. Terms apply
  • Monitor your credit score with CreditWise from Capital One. It’s free for everyone
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Flat-Rate Travel Rewards

Bank of America® Travel Rewards Secured Credit Card *

Bank of America® Travel Rewards Secured Credit Card
4.7
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

1.5X Reward Rate

1.5 points per dollar on all other purchases and 3 points per dollar on purchases made through the Travel Center.

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

28.24% variable

Credit Score

Limited, Bad, Fair (0 - 649)

Our Expert Take

The Bank of America® Travel Rewards Secured Credit Card* will appeal to credit-builders who appreciate a simple rewards structure and who want to earn rewards to use for their travel and dining expenses.

Why We Like It

The Bank of America® Travel Rewards Secured Credit Card* earns rewards and your account will periodically be reviewed for a security deposit refund. Cardholders earn 3 points per dollar on travel purchase through the Bank of America Travel Center. There are no foreign transaction fees and points earned on this card can be redeemed for statement credits to cover your dining and travel expenses.

What We Don’t Like

While your points are worth 1 cent per point when redeemed toward dining or travel purchases, you’ll get less value (0.6 cents per point) if you redeem them for cash back. If you’re not a big traveler and you rarely eat out, you’ll probably be better off with a secured card that earns general cash-back rewards.

Who It’s Best For

The Bank of America® Travel Rewards Secured Credit Card* is a good fit for someone who wants to build credit and earn rewards to use specifically to pay off dining and travel expenses.

Pros & Cons
  • Unlimited 3 points per dollar on purchases made through the Travel Center and 1.5 points per dollar on all other purchases
  • No blackout dates or restrictions on travel rewards
  • Points never expire as long as the card stays open
  • $0 foreign transaction fee
  • Requires a deposit
  • High variable APR
  • Poor cash-back redemption rate
Card Details
  • No annual fee or foreign transaction fees
  • Earn 1.5 points per dollar spent on general purchases with a bonus for purchases through the Bank of America Travel Center
  • Security deposits of $200 – $5,000 required
  • Periodic account reviews with the potential to qualify for a returned security deposit
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Reward-Earning Potential

Bank of America® Customized Cash Rewards Secured Credit Card *

Bank of America® Customized Cash Rewards Secured Credit Card
4.6
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Up to 3% Reward Rate

Earn 3% cash back in the category of your choice: gas and EV charging, online shopping, dining, travel, drug storesRead More

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

28.24% variable

Credit Score

New to Credit

Our Expert Take

The Bank of America® Customized Cash Rewards Secured Credit Card* is a secured card with no annual fee and the ability to earn rewards, both of which are beneficial attributes for those working on building stronger credit.

Why We Like It

The Bank of America® Customized Cash Rewards Secured Credit Card* lets you choose which bonus cash-back category you want each month from a list of six. This card could be a good choice for those whose spending habits change regularly or who want to have some extra control over their rewards earning. With responsible usage, some card members may be able to graduate to an unsecured account.

What We Don’t Like

The ability to change your bonus categories each month can be complicated for those not skilled in managing this type of rewards program. This card also charges a foreign transaction fee.

Who It’s Best For

The Bank of America® Customized Cash Rewards Secured Credit Card* is a good choice for those who want the flexibility to choose the category where they can earn the most rewards.

Pros & Cons
  • No annual fee
  • Earns cash-back rewards on eligible purchases
  • Potential for an upgrade to an unsecured card
  • The rewards system can be complicated to track
  • An opening deposit of $200 is required
  • There’s a foreign transaction fee
Card Details
  • Earn 3% cash back in the category of your choice: gas and EV charging, online shopping, dining, travel, drug stores, or home improvement & furnishings
  • Earn 2% cash back at grocery stores and wholesale clubs
  • Earn unlimited 1% cash back on all other purchases
  • You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%
  • A minimum refundable security deposit of $200 (maximum of $5,000) is required to open this account
  • Now, you can access your FICO® Score updated monthly for free, within your Mobile Banking app or in Online Banking
  • No annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card Welcome Bonus

Discover it® Secured Credit Card

Apply Now Apply Now
On Discover's Website
Discover it® Secured Credit Card
Click Here To Apply Now
Rates & Fees 
4.4
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Apply Now Apply Now
On Discover's Website

Up to 2% Reward Rate

Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. PlusRead More

Welcome Bonus

Cashback Match™

Annual Fee

$0

Regular APR

27.24% Variable APR

Credit Score

New/Rebuilding

Our Expert Take

The Discover it® Secured Credit Card stands tall when it comes to its welcome bonus. And earning rewards on your spending can be appreciated, too.

Why We Like It

The Discover it® Secured Credit Card is an excellent secured card because, unlike many other cards in the category, it has generous welcome bonus potential in addition to earning rewards. Discover offers a unique Unlimited Cashback Match™ – Discover will automatically match all the cash back earned at the end of the first year.

After seven months with the card, Discover will review your credit profile and may offer an upgrade to an unsecured card and your deposit returned with a track record of responsible usage.

What We Don’t Like

You may find that Discover isn’t as widely accepted as Visa or Mastercard, especially outside of the U.S.

Who It’s Best For

Thanks to its solid welcome bonus, the Discover it® Secured Credit Card is great for new cardholders looking to earn above-average rewards in their first year with the card.

Expert Commentary
Albert Hsieh
Albert Hsieh
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
 
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
 
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
 
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Albert Hsieh
Albert Hsieh
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
 
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
 
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
 
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Credit Cards and Reward Points Expert

No credit history required, the Discover it® Secured Credit Card offers one of the best credit cards for building or rebuilding a healthy credit history, while earning cash back in select everyday categories.

Pros & Cons
  • No annual fee
  • Earning cash-back rewards is uncommon for a secured card
  • Free FICO score access each month
  • Cashback Match™ doubles cash back rewards earning at the end of the first year
  • Bonus category rewards are capped
  • Like many secured cards, there’s a relatively high APR
  • Secured cards require refundable deposits
Card Details
  • No credit score required to apply. No Annual Fee.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • 30 points or more—that’s how much you could increase your FICO Credit Score on average after just six months of responsible use.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. Activate by mobile app for free.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.
Intro Offer: Unlimited Cashback Match™ - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Cash Back on Domestic Purchases

Bank of America® Unlimited Cash Rewards Secured Credit Card *

Bank of America® Unlimited Cash Rewards Secured Credit Card
4.4
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Unlimited 1.5% Reward Rate

Earn unlimited 1.5% cash back on all purchases

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

28.24% variable

Credit Score

Bad/Poor (0 - 649)

Our Expert Take

The Bank of America® Unlimited Cash Rewards Secured Credit Card* offers a simple rewards structure and allows you to redeem those rewards for statement credits or for deposits made directly into a checking or savings account with the bank.

Why We Like It

The card’s unlimited and easy-to-track earn rate can make it appealing for anyone who doesn’t want the hassle of juggling cards to maximize rewards. If you make regular and consistent payments on time your account could be eligible for an upgrade to an unsecured version and your deposit returned. There’s no annual fee and an account can be opened with as little as $200 up to a maximum amount of $5,000.

What We Don’t Like

The card charges foreign transaction fees, so it’s not a good option for international purchases.

Who It’s Best For

The Bank of America® Unlimited Cash Rewards Secured Credit Card* is a good choice for people looking for a basic rewards earn rate who don’t plan on using the card when traveling abroad or for purchases made in foreign currencies.

Pros & Cons
  • Simple rewards structure is easy to manage
  • Potential to graduate to an unsecured card with good payment behavior
  • Free access to your FICO Score
  • There are other secured cards that may earn you higher rewards.
  • There’s a foreign transaction fee
  • Minimum deposit of at least $200 required
Card Details
  • Earn unlimited 1.5% cash back on all purchases
  • Cash rewards don’t expire
  • Establish, strengthen or rebuild your credit
  • No annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Access to Deposit

Secured Chime Credit Builder Visa® Credit Card

Apply Now Apply Now
On Chime's Website
Secured Chime Credit Builder Visa® Credit Card
Click Here To Apply Now
4.3
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Apply Now Apply Now
On Chime's Website

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

N/A

Credit Score

Poor, Average (0 - 649)

Our Expert Take

The Secured Chime Credit Builder Visa® Credit Card is one of the only cards we know of that allows you to use your security deposit to pay your balance.

Why We Like It

The Secured Chime Credit Builder Visa® Credit Card allows you access to your deposit instead of keeping it locked away until you close the card. Each month you can use your deposit to pay off your balance, then top up again. In addition to a $0 annual fee, this card charges no interest*.

What We Don’t Like

The Secured Chime Credit Builder Visa® Credit Card does not require a credit check, but you will need to have a Chime® Checking Account to apply†.

Who It’s Best For

The Secured Chime Credit Builder Visa® Credit Card is a good fit for anyone who finds it absolutely essential to access their deposit to pay monthly expenses.

Expert Commentary
Albert Hsieh
Albert Hsieh
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
 
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
 
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
 
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Albert Hsieh
Albert Hsieh
Albert Hsieh
Credit Cards and Reward Points Expert
Albert Hsieh is founder and CEO of Foxtrot Dash Inc., a San Francisco-based travel rewards marketplace offering a smart wallet that recommends 30,000 ways to maximize the redemption of hard-earned credit card and travel rewards points. He has proudly redeemed over 30 million reward points, and he and the Foxtrot Dash team boast over three decades of points and miles experience.
 
Albert has had a lifelong passion for aviation largely sparked by his dad, who retired after 30 years with United Airlines at San Francisco and Oakland. Since childhood, Albert grew fascinated by premium air travel and flew “The Tulip” (the nickname for United's fondly remembered "U" logo) to destinations far and near, with Taiwan, Japan and Egypt ranked as his top favorites.
 
With an unwavering commitment to the global travel industry, Albert served for 20 years as a commercial and marketing leader at Fortune 500 travel companies including JetBlue, China Airlines, XOJET and Westfield Airports LAX. He later worked as a consultant for Jet Edge, leading a companywide rebrand before their VistaJet acquisition. In recent years, Albert launched his Instagram feed where he captures his global credit card points and airline miles adventures with impeccable photography of luxury airline cabins and beautiful hotels.
 
His work is regularly featured in social campaigns, and he has drawn mentions in The New York Times and Nob Hill Gazette. On the Money Seed podcast, he has been heard discussing the future of credit card reward points, global travel trends and loyalty programs. When he's not traveling, Albert enjoys life on the West Coast by seeking out new restaurants and world-class wineries, and by spending quality time with loved ones.
Credit Cards and Reward Points Expert

The Chime Credit Builder credit card ensures you spend only what you have, a great way to stay on the path toward financial wellness.

Pros & Cons
  • No annual fees
  • No interest*
  • No minimum security deposit requirement**
  • You can use your deposit to pay for your monthly balance (though you must replenish it afterward)
  • Reports to all three credit bureaus
  • Can’t get a credit limit greater than your deposit
  • No option to graduate to an unsecured card
Card Details

• No interest*
• No annual fee
• No foreign transaction fee
• No minimum security deposit required**
• No credit check to apply†
• Turn on Safer Credit Building*** and your balance will be automatically paid from your deposit on time, every month. We’ll keep the major credit bureaus updated
• Whether it’s gas or groceries, now everyday purchases can count toward building credit history
• We’re here to help you break free from these fees: annual, interest*, and large security deposits

The Secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.
*Out-of-network ATM withdrawal and OTC advance fees may apply. View The Bancorp agreement or Stride agreement for details; see back of card for issuer.
**Money added to Credit Builder will be held in a secured deposit account as collateral for your Credit Builder Visa card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.
***On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
†To apply for Credit Builder, you must have an active Chime® Checking Account.
‡Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Earning Points

U.S. Bank Altitude® Go Secured Visa® Card *

U.S. Bank Altitude® Go Secured Visa® Card
4.3
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Up to 4X Reward Rate

Earn 4 points per dollar on dining, takeout and restaurant delivery, 2 points per dollar at grocery stores, gas andRead More

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

29.24% variable

Credit Score

Fair/Good (650 - 699)

Our Expert Take

If dining and takeout are the biggest expenses you put on a credit card, the U.S. Bank Altitude® Go Secured Visa® Card* will fit your spending patterns like a glove.

Why We Like It

The U.S. Bank Altitude® Go Secured Visa® Card* is one of the few secured cards that allow cardholders to earn points in several everyday spending categories. U.S. Bank permits security deposits between $300 and $5,000, offering flexibility to cardholders. This card also offers a $15 annual streaming credit for eligible services including Netflix and Spotify.

What We Don’t Like

The ongoing rewards rate outside of bonus categories is just OK, which means if a majority of your spending is in areas that don’t align with the bonus areas on the card, you won’t get much out of it. Other cards indicate they’ll consider you for a higher credit limit or even convert your account to an unsecured version after a specific number of months, but this card keeps that possibility vague.

Who It’s Best For

The U.S. Bank Altitude® Go Secured Visa® Card* is best for those seeking to shore up their credit and whose biggest spending categories on a card include dining, takeout and delivery.

Pros & Cons
  • Reports to all three major credit bureaus
  • No annual fee
  • Comes with a $15 annual streaming credit after 11 months of eligible streaming services payments
  • Minimum deposit of $300 is required
  • Non-bonus categories earn so-so rewards
  • Other secured cards may offer rewards that better align with your spending
Card Details
  • Earn 4 points per dollar spent on dining and takeout
  • Earn 2 points at grocery stores, gas stations and on streaming services and 1 point on all other eligible purchases
  • Earn a $15 streaming credit for annual streaming service purchases like Netflix and Spotify
  • No annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Choosing Your Bonus Category

U.S. Bank Cash+® Secured Visa® Card *

U.S. Bank Cash+® Secured Visa® Card
4.3
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Up to 5X Reward Rate

5% cash back on on the first $2,000 in combined eligible purchases each quarter in two categories of choice, 2%Read More

Welcome Bonus

N/A

Annual Fee

$0

Regular APR

29.24% variable

Credit Score

Good (700 - 749)

Our Expert Take

The U.S. Bank Cash+® Secured Visa® Card* offers a high rewards rate in two popular spending categories, which isn’t a given among secured cards. However, each quarter, you must manually enroll in the two categories to earn the bonus rewards.

Why We Like It

The U.S. Bank Cash+® Secured Visa® Card* allows you to select two categories from a list of 12 to earn up to 5% back, which can be valuable if your spending fluctuates from month to month.

What We Don’t Like

The U.S. Bank Cash+® Secured Visa® Card* has a minimum deposit requirement of $300, which may be higher than other secured cards, but allows a maximum deposit of $5,000. If you don’t choose two categories for bonus rewards, purchases will default to earning only 1% back.

Who It’s Best For

If your spending patterns change often, this card lets you maximize rewards for specific categories.

Pros & Cons
  • High rewards potential for a secured card
  • $0 annual fee
  • Path to upgrade to an unsecured card with responsible card usage
  • Requires a security deposit of at least $300
  • Must remember to activate categories with highest expected purchases each quarter
  • High variable APR
  • Foreign transaction fee
Card Details
  • Earn 5% cash back on the first $2,000 in combined eligible purchases each quarter in two categories you choose
  • Earn 2% cash back on eligible purchases in your choice of one everyday category (like gas stations, grocery stores and restaurants)
  • Earn 1% cash back on all other eligible purchases
  • Also earn 5% cash back on prepaid hotel, car, or air reservations when booked directly in the Rewards Travel Center
  • Choose payment due date
  • $0 annual fee
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Best Secured Card for Rebuilding Bad or Damaged Credit

First Progress Platinum Select Mastercard® Secured Credit Card

Apply Now Apply Now
On First Progress's Website
First Progress Platinum Select Mastercard® Secured Credit Card
Click Here To Apply Now
4.2
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
Apply Now Apply Now
On First Progress's Website

1% Cash Back

Get a First Progress Select Card and Earn 1% Cash Back Rewards

Welcome Bonus

N/A

Annual Fee

$39

Regular APR

18.24% (V)

Credit Score

Poor/Limited/No Credit (0 - 649)

Our Expert Take

Since the First Progress Platinum Select Mastercard® Secured Credit Card welcomes applications from people with all types of credit, it can be an option for customers looking to rebuild their credit, perhaps even after bankruptcy.

Why We Like It

The card earns 1% cash back rewards on payments and allows customers to open an account with as little as $200. Over time, customers may be able to increase their refundable security deposit to $5,000.

What We Don’t Like

Unfortunately, the card charges an annual fee. Since many secured cards don’t charge annual fees, the First Progress Platinum Select Mastercard® Secured Credit Card may make sense for those who are unable to receive approval for any other credit card.

Who It’s Best For

The First Progress Platinum Select Mastercard® Secured Credit Card may make sense for anyone whose credit history makes it difficult to get approved for other secured cards.

Pros & Cons
  • Provides a way for those with low credit scores to rebuild
  • Low variable APR for a secured card
  • Reports to all three major credit bureaus
  • Can apply even with a discharged bankruptcy in your file
  • $39 annual fee
  • Lower-than-average credit line maximum
Card Details
  • Have you Received your Tax Refund? Apply for First Progress today to Take Charge of your Financial Goals!
  • Get a First Progress Select Card and Earn 1% Cash Back
    Rewards!
  • Secure your credit line with your refundable security deposit – choose from $200- $2,000 – with the ability to increase up to $5,000 over time!
  • Choose the First Progress Select Card for a lower annual fee!
  • All credit types welcome to apply!
  • Build your credit history across 3 major credit reporting agencies: Equifax, Experian and TransUnion.¹
  • ¹Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
N/A
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Methodology

To generate our list of the best secured credits, Forbes Advisor regularly reviews the secured credit cards in our database and compares them on a variety of factors, including:

  • Eligibility requirements: 20%
  • Estimated annual earnings: 20%
  • APR: 15%
  • Annual Fee: 15%
  • Rewards flexibility: 5%
  • Other fees and benefits: 25%

Forbes Advisor rates cards both as stand-alone products (the card rating on the review) and compared to others in a specific use case (the card rating you see on a specific “Best” list). The rating for each card changes on different “Best” lists according to how a person looking for a card in that category may value certain card features.

For instance, a card that might be considered mediocre on a list of rewards cards could be the top card on a list of rewards cards with no annual fee. That’s because the card might offer limited features compared to other rewards cards, but after we remove cards that charge an annual fee, it’s the best card that remains.

To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards.

Who Can Get Approved for a Secured Card?

Due to the collateral requirement, secured credit cards are some of the easiest to get approved for. Those with poor or limited credit history may find that a secured card is the best place to start.

How To Choose a Secured Credit Card

If you’re in the market for a secured credit card, follow these steps to determine which one is the best fit for you.

  1. Check your credit score. Confirm you can’t qualify for an unsecured credit card before opting for a secured one.
  2. Understand the deposit requirements. Secured cards require a cash deposit as collateral, typically equal to your credit limit. Choose a card with a minimum and maximum deposit amount that aligns with your budget. It’s wise to consider cards that offer a path to an unsecured card after responsible use as well.
  3. Compare the rates and fees. Look for cards with low or no annual fees to minimize costs. If traveling internationally is important, look for a card that doesn’t charge foreign transaction fees. In general, familiarize yourself with any other fees (i.e. application fees, monthly maintenance charges) that may be attached to any card you’re considering. While paying your bill in full each month is a good habit, a lower APR can help if you carry a balance.
  4. Verify credit bureau reporting. Ensure the card issuer reports to all three major consumer credit bureaus: Experian, Equifax and Transunion, to build your credit effectively.
  5. Consider additional features and the fine print. Some secured cards offer cash back or other perks, which can be a nice bonus. Understand all terms and conditions, including how and when your deposit will be returned.
  6. Research the issuer’s reputation. Choose a card from a reputable bank or credit union with good customer service.

If your goal is to build a stronger credit profile, make sure the secured card you choose reports to the three major credit bureaus. That way your responsible use of the card is tracked and you have a better chance at an improved credit score and more opportunities for new unsecured cards.

–Jerod Morales, Credit Cards Editor

How To Get a Secured Credit Card

Applying for a secured credit card is nearly the same process as applying for any other credit card. Most likely, you will be asked to provide the following information on your application:

  • First and last name.
  • Email address.
  • Phone number.
  • Birthday.
  • Home address.
  • Social Security number or individual taxpayer identification number (ITIN).
  • Citizenship status.
  • Employment details.
  • Housing costs.
  • Income and employment information.

Although this list may seem long, the information requested is generally the same as what is asked on an application for an unsecured credit card. Issuers want to understand the financial profile and credit risk of the person applying for one of their cards.

The process differs slightly after approval since you’ll also need to link your bank account to provide the security deposit for the card.

Pro Tip
If you deposit only a small amount, your credit utilization will likely be high or less desirable. Spending $100 on a card with a $200 limit results in a credit utilization rate of 50%, which will negatively impact your credit score.

How To Use a Secured Credit Card

Your payment history is the most important factor affecting your credit score. Like any credit card, a secured credit card allows you to build credit with responsible usage. You do not need to charge a lot or carry a balance to build your credit. If your goal is to improve your credit score, it’s enough to use your card monthly and pay it off before the due date.

Credit utilization is another major factor used to calculate your credit scores. When using any credit card, it’s important not to use too much of your available credit. Spending close to your credit limit may indicate you’re overextending your credit and indicate more risk to lenders evaluating your creditworthiness. Try not to use more than 30% of your available credit and, if possible, keep your utilization even lower.

A new secured card account can take up to two months to appear on your credit report. First-time cardholders may not see activity appear on a credit report for up to six months. Be patient and keep using the card responsibly.

Alternatives to Secured Credit Cards

A secured card may not be the best fit for everyone. Here are some other options to consider.

Unsecured Cards for Bad Credit

Credit-Builder Loans

Prepaid Debit Cards

Personal Loans

Evaluate Credit Cards Side By Side

Compare

Ask An Expert

Are Secured Credit Cards Worth It?

Laura Adams

Laura Adams

Credit Cards Expert

Becky Pokora

Becky Pokora

Credit Cards Writer

Harlan Vaughn

Harlan Vaughn

Credit Card Expert

 

A secured credit card is an excellent tool for building or improving your credit history when the issuer reports payment history to the nationwide credit bureaus. You might want to apply for one if you’re building credit from scratch or you’re rebuilding your credit after financial hardship. In some cases, the issuer may convert your account to an unsecured credit card after a period of timely payments.

Laura Adams
Laura Adams

Credit Cards Expert

 

Secured credit cards may have more lenient approval standards, making them a good choice for someone without a credit history or with poor credit. They generally also report to all three credit bureaus, so responsible usage can help build your credit score.

Becky Pokora
Becky Pokora

Credit Cards Writer

 

Credit cards, when used responsibly, can improve your credit profile. If you want to build your credit but don’t want the option to potentially overspend, a secured credit card could be an important stepping stone.

Harlan Vaughn
Harlan Vaughn

Credit Card Expert

Frequently Asked Questions (FAQs)

How do secured credit cards work?

A secured card works like any other credit card, but there is one big difference—your credit limit will be determined by the amount of cash you provide for your security deposit. The range of accepted deposits depends on the cardholder’s credit history and the card issuer’s terms. Deposits typically range starting from $200 up to $5,000.

Your deposit essentially acts as collateral when you open a new account. If you fail to make payments or default, the card issuer will keep your deposit to cover the debt and potentially cancel the account.

A card issuer is more likely to take a chance on a person with poor credit with the collateral of a security deposit, so secured credit cards are a good option for those with no or poor credit.

Does a secured credit card have an annual fee?

Some credit cards charge annual fees. Before applying, check a secured credit card’s terms and conditions to see if the card you’re considering has an annual fee.

Can I get my deposit back on a secured credit card?

Yes, you should receive your deposit back on a secured credit card so long as you pay off the entire balance before closing the card or if your card provider graduates you to an unsecured card. Read the card’s terms to know when you could see your deposit returned.

How much will a secured credit card raise my score?

There is no definitive answer on how much your credit score can improve by holding a secured credit card because the improvement largely depends on your financial situation and personal circumstances. There are secured cards available, like the Bank of America® Travel Rewards Secured Credit Card*, which offer free monthly FICO score tracking so you can check your credit score and monitor it for any improvement.

Am I guaranteed approval for a secured credit card?

No guarantee exists regarding approval for any credit card. However, secured credit cards are designed to help people build better credit. If you have fair, poor, or no credit, you may have a better chance of receiving approval for a secured card than an unsecured credit card.

Other Credit Cards To Consider

*The information for the following card(s) has been collected independently by Forbes Advisor: Super.com Secured Credit Card, Bank of America® Travel Rewards Secured Credit Card, Bank of America® Customized Cash Rewards Secured Credit Card, Bank of America® Unlimited Cash Rewards Secured Credit Card, U.S. Bank Altitude® Go Secured Visa® Card, U.S. Bank Cash+® Secured Visa® Card. The card details on this page have not been reviewed or provided by the card issuer.

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
Jon Nickel-D'Andrea
Jon Nickel-D'Andrea
Credit Cards Expert Writer

For more than 10 years, Jon Nickel-D'Andrea has been a sought-after expert on how to travel the world using rewards points and miles. Jon has been featured in local and national publications and as a speaker at various seminars across the world. Combining his deep knowledge of credit cards, rewards programs, airlines and hotels with his unique style and sense of humor, Jon makes the complex web of these programs more fun and easy to understand. He lives in Seattle with his husband Ben and their 4-year-old beagle pup.

Robin Saks Frankel
Robin Saks Frankel
Senior Staff Writer

Robin has worked as a credit cards, editor and spokesperson for over a decade. Prior to Forbes Advisor, she also covered credit cards and related content for other national web publications including USA TODAY, NerdWallet, Bankrate and HerMoney. She holds an M.S. in Business and Economics Journalism from Boston University, a Poynter ACES Certificate in Editing and is a Certified Educator in Personal Finance (CEPF®).

Laura D. Adams, MBA
Laura D. Adams, MBA
Insurance and Credit Card Expert

Insurance and credit cards expert Laura Adams is one of the nation’s leading personal finance and small business authorities. As an award-winning author of multiple books, keynote speaker, host of the "Money Girl" podcast (more than 42 million downloads) since 2008, and founder of The Money Stack newsletter, Laura offers practical advice that benefits millions of readers, listeners and loyal fans. She was named one of Empower's "Top 50 Women in Personal Finance" in 2018.
 
Laura's podcast inspired her first book, "Money Girl's Smart Moves to Grow Rich," which won the 2011 EIFLE (Excellence in Financial Literacy Education) award. Her latest title, "Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers" (Entrepreneur Press), was an Amazon No. 1 new release.
 
Laura is a trusted source for national media outlets, which frequently seek her practical advice on insurance, credit cards and various other financial topics for TV, radio, online articles and print publications. She’s been featured on most major news outlets including ABC, Bloomberg, CBS, Consumer Reports, Forbes, Fortune, Fox, Money, MSN, NBC, NPR, The New York Times, USA Today, U.S. News & World Report, The Wall Street Journal and The Washington Post.
 
Her mission is to empower consumers to live healthy and rich lives by making the most of what they have, planning for the future, and making smart money decisions.

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