• Skip to primary navigation
  • Skip to main content
  • Skip to footer

FinanceJar

FinanceJar

Take the next step on your journey

  • Credit Scores
    • Get Free Credit Score
    • Get Your Free FICO Score
    • Credit Score Range
  • Credit Repair
  • Credit Reports
    • Credit Inquiries
  • Credit Cards
    • Credit Card Reviews
    • Best Credit Cards for Bad Credit
    • Fair Credit
    • No Credit
    • Building Credit
    • Secured
    • Unsecured
    • 0% Interest
    • No Annual Fee
    • Guaranteed Approval
    • No Credit Check
    • No Foreign Transaction Fee
    • Gas
    • Students
  • Debt
    • List of Collection Agencies
  • Loans
  • About Us
  • 24/7 Support:

    323-649-8707

Home Credit Cards Best Secured Credit Cards

Best Secured Credit Cards in May 2025

an image of a hand grabbing a black secured credit card with a padlock symbol on it

At a glance

If you have a bad credit score, secured credit cards offer access to lines of credit when you pay a small deposit. These cards are ideal for anyone struggling to be approved for traditional credit cards. Check out what our experts have to say.

Written by Zachary Vickers

Reviewed by Mark Slack

Updated Oct 17, 2022

Fresh advice you can trust

We promise to always deliver the best financial advice that we can. Our writers and editors follow strict editorial standards and operate independently from our advertisers and affiliates. Learn more about how we make money.

Secured Credit Cards

Credit Card Best For Credit Score Annual Fee Welcome Bonus Apply Now
Discover It secured credit card
Discover it® Secured Credit Card Apply
Secured Overall 300–669 $0 Cashback Match Apply
OpenSky Secured Visa credit card
OpenSky® Secured Visa® Apply
No Credit Check 300–669 $35 Apply
Self Visa credit card
Self Visa® + Credit Builder Account Apply
Beginners 300–669 $25 Apply
Bank Americard Secured credit card
BankAmericard® Secured Credit Card Apply
No Annual Fee 300–669 $0 Apply
First Progress Platinum Prestige Mastercard secured credit card
First Progress Platinum Prestige MasterCard® Secured Credit Card Apply
Bad Credit 300–669 $49 Apply
Citi Secured Mastercard credit card
Citi® Secured Mastercard® Apply
Rebuilding Credit 300–669 $0 Apply

Table of Contents

  1. Best secured credit cards
  2. What is a secured credit card?
  3. How does a secured credit card work?
  4. Will a secured credit card raise my credit score?
  5. How do I apply for a secured credit card?
  6. How do I use a secured credit card?
  7. Other FAQs about secured credit cards
  8. FinanceJar credit card rating methodology

Best secured credit cards

Our experts have gathered the best secured credit card options around. These cards frequently report to all three credit bureaus, allowing you to build your credit, and because their issuers require a refundable security deposit, they’re available to almost everyone.

Best overall secured credit card

Secured Overall

Discover it® Secured Credit Card

Discover It secured credit card Apply Now

on Discover's secure site

Rates & Fees
4.8
Rating Breakdown
Fees
4.9

No annual fee and no foreign transaction fees score this card a high rating in the fees department.

APR
2.7

Carrying a balance could get costly on this card, given the high purchase APR.

Rewards
4.4

Considering it’s a secured card, the Discover it® Secured offers impressive rewards and even a cashback welcome bonus.

Credit Reporting
5.0

Discover reports to the major credit bureaus, which can help you build your credit.

Security Deposit
4.0

The minimum and maximum security deposit allow a good range of flexibility for you to determine your credit limit.

Other

We adjusted for factors like free credit scores and a fully refundable security deposit.

Our FinanceJar Star Rating represents an objective and unbiased evaluation of this card, without influence from advertisers and affiliates. Our scores are generated by a rubric and our reviews adhere to a strict editorial process. Learn more about how we rate credit cards.

Annual Fee

$0

Credit Score

300–669

Deposit

$200–$2,500

Purchase APR

25.99% (variable)

Rewards

  • Welcome Bonus

    Cashback Match earns you a dollar-for-dollar match on your first-year rewards

  • Gas & Restaurants

    2% cash back up to $1,000 in combined spending each quarter

  • Everything Else

    1% cash back on all eligible purchases

Why It's Great

The Discover it® Secured credit card is our overall pick for best secured credit card for its versatility. Few secured cards offer cashback rewards, but this card offers plenty: cash back on purchases at restaurants, gas stations, and other businesses, as well as Cashback Match for all purchases made in your first year.

Furthermore, only seven months of on-time payments make you eligible for an upgrade to an unsecured credit card. Between the graduation possibility, the cashback rewards, and Discover's free credit tracking, the Discover it® Secured is a great choice for any borrowers looking to build credit and earn a little back along the way.

The most notable downside of the Discover it® Secured is that it isn't on a Visa or Mastercard network, so it may not be as widely accepted abroad as other secured cards.

Pros & Cons

Pros

  • No annual fee
  • Cashback rewards
  • Easy application
  • Cashback Match the first year
  • Option to upgrade to an unsecured card
  • Low intro APR

Cons

  • High regular APR
  • Limited acceptance abroad

Best secured credit card with no credit check

No Credit Check

OpenSky® Secured Visa®

OpenSky Secured Visa credit card Apply Now

on OpenSky's secure site

Rates & Fees
4.0
Rating Breakdown
Fees
4.6

The OpenSky® Secured Visa® does well in the fees category thanks to the low annual fees.

APR
3.3

The OpenSky® Secured Visa® has reasonable interest rates on purchases and cash advances, especially compared to other cards for this credit range.

Rewards
1.0

Because this card doesn’t give you any returns for your spending, it gets the lowest possible score in the rewards category.

Credit Reporting
5.0

The OpenSky® Secured Visa® reports to all three credit bureaus, so it gets top marks for credit reporting.

Security Deposit
4.0

The OpenSky® Secured Visa® allows you to put down as little as $200 or as much as $3,000, so there’s a reasonable amount of flexibility about how much security deposit you pay (and credit limit you get in return).

Other

We bumped up the score a bit for this card because of its good accessibility, since it has high approval odds and is available to borrowers with no credit history.

Our FinanceJar Star Rating represents an objective and unbiased evaluation of this card, without influence from advertisers and affiliates. Our scores are generated by a rubric and our reviews adhere to a strict editorial process. Learn more about how we rate credit cards.

Annual Fee

$35

Credit Score

300–669

Deposit

$200–$3,000

Purchase APR

21.14% (variable)

Why It's Great

The OpenSky® Secured Visa® makes a name for itself as one of the easiest credit cards to get. It doesn’t require a credit check, so you won’t need to worry about your credit history disqualifying you, and you won't get a hard inquiry on your credit report. Hard inquiries knock a few points off your credit score, so it never hurts to avoid them when possible.

Additionally, OpenSky reports to credit bureaus, which helps you build credit. Keep up on your payments and borrow responsibly (i.e., don't max out your card) and the OpenSky® Secured Visa® can help you build enough credit to start applying for more lucrative unsecured credit cards.

Pros & Cons

Pros

  • Helps build credit
  • Low APR
  • No checking account required
  • High approval odds

Cons

  • Charges an annual fee
  • Can’t upgrade to an unsecured card
  • No rewards

Best secured credit card for beginners

Beginners

Self Visa® + Credit Builder Account

Self Visa credit card Apply Now

on Self's secure site

Rates & Fees
3.8
Annual Fee

$25

Credit Score

300–669

Deposit

$100

Purchase APR

26.99% (variable)

Why It's Great

Unusual among secured cards, the Self Visa® requires you to have a Self Credit Builder Account (a credit builder loan), which provides your deposit for the secured card.

Opening both accounts can give your credit score a boost by increasing your total number of open accounts and building up your credit history—great for people who are new to the credit world. Even better, Self reports to credit bureaus, so you'll get positive payment history reported on both the loan and the credit card if you keep up with your monthly bills.

The Self Visa® is among the handful of credit cards that don't require credit checks, meaning you can get approved even with black marks on your credit history (like defaulted loans or bankruptcy).

Pros & Cons

Pros

  • Good for building credit
  • Available to people with bad or no credit
  • No credit check required

Cons

  • Requires a credit builder account
  • Low initial credit limit
  • $25 annual fee
  • No balance transfers or cash advances

Best secured credit card with no annual fee

No Annual Fee

BankAmericard® Secured Credit Card

Bank Americard Secured credit card Apply Now

on Bank of America's secure site

Rates & Fees
4.1
Annual Fee

$0

Credit Score

300–669

Deposit

$200–$5,000

Purchase APR

24.99% (variable)

Why It's Great

You don’t need a Bank of America account to apply for the BankAmericard® Secured credit card, but you still get Bank of America benefits with this secured card. Benefits include fraud protection and easy account management through Bank of America’s mobile app. Even better, the card doesn't come at the cost of annual fee, like many similar secured credit cards charge.

As an added perk, the card comes with free monthly FICO scores, helping you track your credit-building progress.

Pros & Cons

Pros

  • $0 annual fee
  • Flexible credit limit
  • Free FICO score
  • $0 liability guarantee for fraudulent charges

Cons

  • High interest rates
  • $300 minimum security deposit
  • No rewards

Best secured credit card for bad credit

Bad Credit

First Progress Platinum Prestige MasterCard® Secured Credit Card

First Progress Platinum Prestige Mastercard secured credit card Apply Now

on First Progress' secure site

Rates & Fees
4.1
Annual Fee

$49

Credit Score

300–669

Deposit

$200–$2,000

Purchase APR

13.74% (variable)

Why It's Great

The First Progress Platinum Prestige MasterCard® Secured credit card is one of the best credit cards that offers instant approval, making it a good choice of credit card for bad credit if you're looking for speedy borrowing solutions.

This card also features one of the lowest interest rates among secured cards, making it a top choice for anyone who's likely to carry a balance from one month to the next.

Adding to its list of pros is the fact that you can qualify without a credit check, it reports your borrowing activity to the bureaus, and you can get a credit limit as high as $2,000.

Pros & Cons

Pros

  • Low APR
  • No credit inquiry required
  • The security deposit is refundable
  • A discharged bankruptcy in your credit report will not cause you to be declined

Cons

  • $49 annual fee
  • Requires a security deposit
  • Requires a Synovus bank account
  • The card can’t be upgraded to an unsecured card

Best secured credit card for rebuilding credit

Rebuilding Credit

Citi® Secured Mastercard®

Citi Secured Mastercard credit card Apply Now

on Citi's secure site

Rates & Fees
3.8
Annual Fee

$0

Credit Score

300–669

Deposit

$200–$2,500

Purchase APR

26.24% (variable)

Why It's Great

With no annual fee and credit limits as high as $2,500, the Citi® Secured Mastercard® one of the best secured credit cards with no annual fee. It proves a low-cost and flexible option for people looking to rebuild their credit.

Citibanks reports to all three credit bureaus and offers fraud alerts and identity theft protection, so you can rest assured that your credit is in good hands. They even give you free FICO scores every month, so you can track your credit's progress.

Pros & Cons

Pros

  • Available to limited credit borrowers
  • $0 annual fee
  • Reports to all three credit bureaus

Cons

  • High APR
  • Requires a security deposit
  • No rewards

What is a secured credit card?

A secured credit card is a type of credit card that requires you to put down a security deposit when you open your account. This deposit acts as collateral that the credit card company will keep if you fail to make your payments, and usually also sets your credit limit.

Secured credit cards have several pros and cons.

Pros and cons of secured credit cards

Pros

  • Higher chances of approval for people with low credit or no credit history
  • Typically reports account history to all three major credit bureaus
  • Deposit is refundable

Cons

  • Mandatory minimum deposits
  • Higher interest rates and fees
  • Few rewards or other perks

Secured vs. unsecured credit cards

In general, secured credit cards operate in the same ways as unsecured credit cards.

 SecuredUnsecured
Minimum credit requiredAvailable for nearly all credit scoresFair to excellent credit required (601–850)
Security depositAverage minimum deposit of $200No deposit required
Rewards programsRewards are frequently not offeredA wide range of rewards are often available
Interest ratesHigher than average APRAverage to below-average APR (based on creditworthiness)

Secured credit cards require a minimum deposit upon opening your account, and generally have higher interest rates than unsecured cards while lacking any special rewards and benefits.

In contrast, unsecured cards don’t require a security deposit. They also adjust their interest rates based on applicants’ credit scores and histories and offer an assortment of rewards suited to different spending habits and lifestyles.

Although secured cards don’t have as many rewards, they’re usually among the best credit cards for bad credit and even the best credit cards for fair credit since they tend to have lower qualification thresholds than unsecured cards.

How does a secured credit card work?

A secured credit card works exactly the same way as a normal (unsecured) credit card, the only difference being that you need to pay a deposit to get one, and you can lose that deposit if you fail to make repayments.

With a secured credit card:

  • You can purchase any goods and services
  • You’ll be asked to make a minimum payment on your charges every month
  • If you don’t pay your credit card bill in full, you’ll pay an interest rate on the amount you didn’t pay off
  • Your payment history will be reported to the credit bureaus, either helping or hurting your credit score depending on if you make on-time or late payments

Will a secured credit card raise my credit score?

Yes, a secured card can improve your credit score, as long as you use it responsibly.

Your new card has the potential to:

  • Build your payment history: In the future, whether you’re applying for a credit card, mortgage, or even an apartment, anyone who checks your credit will see your payment history on your secured credit card. Using it responsibly (which means making the required on-time payments each month) will reflect positively on your credit report, raising your score over time.
  • Lower your credit utilization: Your credit utilization rate also impacts your score. Your utilization rate indicates how much available credit you have across your revolving credit accounts. For example, if you have one secured card with a credit limit of $200 which you spend $60 on, that translates to a 30% utilization rate. If you avoid overusing your card (keeping your utilization rate in the single digits, if possible), it will benefit your score.

Note that to get the maximum benefits, you should apply for a card that reports to all three major credit bureaus (Equifax, TransUnion, and Experian), since you don’t know which bureau a particular lender will use.

How do I apply for a secured credit card?

Once you’ve compared the interest rates and benefits of a few secured cards and selected the one you want, applying for a secured credit card involves the following steps:

  1. Submit your application
  2. Pay your security deposit
  3. Look for alternatives if you’re denied

1. Submit your application

You can apply through your card issuer’s website or by mail. Be sure to fill in all of the information required to give yourself the best chance of acceptance. The card issuer’s underwriters may evaluate your credit history to determine if you’re too risky to give credit to. Fortunately, because you’re applying for a secured credit card, it’s more likely that you’ll be approved even if you have a nonexistent, limited, or bad credit history. In some cases, they may not even check your credit at all.

If an issuer does check your credit, the hard inquiry they conduct will have a slight and temporary negative effect on your credit score. To avoid dropping your score too far, it’s best to apply for cards one at a time. If you get rejected, find out why and target your next application more carefully.

2. Pay your security deposit

Before you can open your account, you’ll need to pay your security deposit. Depending on your card issuer, this may be immediately withdrawn from your checking account or you may be given time to gather the necessary funds.

Your deposit defines your credit limit—you won’t be able to spend more on your card than you paid to begin with.

Failing to pay your security deposit will lead to your application being rejected.

3. Look for alternatives if you’re denied

If your application for a secured credit card is denied, find out why (this should be easy—card issuers are legally obligated to explain their reasons for denying credit card applications). Many issuers will also tell you what credit score they saw and which credit bureau they got it from.

You can request a free copy of your credit report whenever your credit card application is denied. It’s best to take advantage of this and to promptly dispute items on your credit report if there’s an error.

If your secured card application is denied, you can also try:

  • Speaking with your local bank or credit union: These are institutions you’ve already built relationships with. An in-person visit to a bank or credit union will allow you to explain your financial situation in detail and improve your chances of being approved for a secured card provided by them.
  • Applying for secured cards that don’t require a credit check for approval: Because these don’t take your credit score or history into consideration, it’s more likely you’ll be approved.

How do I use a secured credit card?

Using a secured credit card is no different from any other card. However, it should be considered a stepping stone to getting cards with higher limits, better benefits, lower interest rates, and no security deposits.

To graduate from using a secured credit card to an unsecured one, you should:

1. Maintain good credit habits

Once your account is open and you start using your card, you’ll be billed for your charges on a monthly basis. Because secured credit cards typically have higher interest rates than unsecured cards, it’s even more important to keep track of your spending and pay off your balance in a timely manner.

Regularly hitting your credit limit—“maxing out” your card—can make it harder to pay your balance on time, leading to interest charges that quickly add up. Maxing out your card will also push your credit utilization well past 30%, damaging your credit score.

Overusing your credit card also makes it easier to overcommit financially and miss payments, which is a serious problem. Having a negative payment history on your credit report can damage your credit score significantly.

2. Upgrade your credit card

Once you’ve built up a positive credit history with your secured credit card, you have up to three options for upgrading to an unsecured credit card:

  • Automatic upgrade: Many secured cards have a built-in upgrade that your card issuer will offer when they’re comfortable with your payment history.
  • Request an upgrade: If your card issuer doesn’t automatically upgrade your account, you may need to request an upgrade yourself.
  • Apply for a credit card from a different issuer: If your issuer doesn’t offer unsecured credit cards, you can always try to apply for a different company’s credit card.

Other FAQs about secured credit cards

We’ve answered some of the most frequently asked questions about secured credit cards below.

Is a secured credit card good for beginners?

Yes, a secured credit card is a good choice for beginners. Secured cards don’t impose many limits on applicants, and are marketed towards people who are trying to establish a credit history or fix a damaged credit score, or anyone else who wants quick, no-fuss access to a line of credit.

As credit cards go, secured cards tend to have the most straightforward cardholder agreements, making them easier to understand for people unfamiliar with how credit cards work. Since secured cards generally don’t offer rewards programs or other kinds of benefits, you don’t have to worry about wasting rewards points or missing out on cash back.

What is the minimum deposit for a secured credit card?

Exactly how much money you’ll need to put down for your deposit depends on your card issuer. Typically, secured credit cards require a minimum deposit of $200.

Where can I get a secured credit card?

While we’ve tried to compile the best secured cards for different kinds of spenders above, the market for secured credit cards is huge.

For example, many banks and credit unions offer their own secured cards. If you have a savings or checking account, take a look at what cards your financial institution offers to existing members.

Can you request a credit limit increase on a secured credit card?

Typically, the only way to request a credit limit increase on a secured card is by increasing the amount of your deposit.

FinanceJar credit card rating methodology

How we rate our secured credit cards

The top factors that FinanceJar's card experts analyzed when rating the secured credit cards on this list are:

  • Deposit Amount
  • Credit Score Required
  • Interest Rates and Fees
  • Customer Satisfaction

These factors, among many others, are part of our 5-star credit card rating methodology for all card categories. Our star ratings are unbiased and independent of our affiliates and advertisers.

Zachary Vickers

Assignment Editor

View Author

Zachary Vickers worked previously as an editor for a team of journalists and reporters. He's covered a range of topics including personal finance, estate planning, small business operations, career advice, and more.

Related Articles

Hand grabbing the best credit card of many credit cards for bad credit
Credit Cards

Updated Oct 17, 2022

9 Best Credit Cards for Bad Credit in May 2025

If you're looking for a credit card but you have bad or damaged...

Kari Dearie
Bad-Credit Credit Cards with High Limits
Credit Cards

Updated Oct 17, 2022

9 Best Bad-Credit Credit Cards with High Limits in May 2025

If you have bad credit, finding a credit card with a high credit...

Kari Dearie
Hand grabbing the best credit card of many credit cards for no credit
Credit Cards

Updated Oct 17, 2022

Best Credit Cards for No Credit History in May 2025

For people with little to no credit history, securing a credit card...

Zachary Vickers
Guaranteed Approval Credit Cards with $1,000 Limits for Bad Credit
Credit Cards

Updated Nov 8, 2022

8 Best Guaranteed Approval Credit Cards with $1,000 Limits for Bad Credit (May 2025)

Believe it or not, there are credit cards with $1,000+ credit...

Kari Dearie
Guaranteed Approval Credit Cards for Bad Credit
Credit Cards

Updated Oct 26, 2022

Guaranteed Approval Credit Cards for Bad Credit in May 2025

Even borrowers with no credit, bad credit, or bankruptcies in their...

Kari Dearie
Guaranteed-Approval Credit Cards with $10,000 Limits for Bad Credit No Deposit
Credit Cards

Updated Oct 17, 2022

Guaranteed Approval Credit Cards with $10,000 Limits for Bad Credit with No Deposit Required

Unfortunately, guaranteed-approval unsecured credit cards for bad...

Kari Dearie
FinanceJar

Footer

Credit

  • Credit Scores
  • Credit Repair
  • Credit Reports
  • Credit Cards
  • Debt

Company

  • About Us
  • Contact Us

Legal

  • Terms & Conditions
  • Privacy Policy

Call Us

9AM – 9PM EST: 347-527-4868
24/7 Help Line: 323-649-8707

How We Make Money

We make money from advertising. We place links on our website to our affiliates, and when you click those links, our affiliates compensate us for it. Our relationships with our affiliates may affect which products we feature on our site and where these products appear in our articles.

Facebook Twitter Instagram TikTok YouTube LinkedIn Pinterest

© 2025 – ONR Financial Networks LLC – All Rights Reserved.

  • Credit Scores
    • Get Free Credit Score
    • Get Your Free FICO Score
    • Credit Score Range
  • Credit Repair
  • Credit Reports
    • Credit Inquiries
  • Credit Cards
    • Credit Card Reviews
    • Best Credit Cards for Bad Credit
    • Fair Credit
    • No Credit
    • Building Credit
    • Secured
    • Unsecured
    • 0% Interest
    • No Annual Fee
    • Guaranteed Approval
    • No Credit Check
    • No Foreign Transaction Fee
    • Gas
    • Students
  • Debt
    • List of Collection Agencies
  • Loans
  • About Us
  • 24/7 Support:

    323-649-8707

We hope this template helps you achieve your goals.

Would you please review us?

A review would mean a lot to us — and takes less than 20 seconds. Let us know what you think. Thanks!

Leave My Review

What you’ll get

  • Assess

    Fill in your information and we will securely pull your TransUnion credit report.

  • Address

    We challenge inaccurate negative items with the bureaus and your creditors.

  • Advise

    We will give you advice for how you can improve your credit. Don’t want to wait? Call us now.

Don’t want to wait? Call us!

Monday to Friday, 10AM - 7PM EST

FinanceJar

Get a FREE 5-minute credit consultation.

Get a credit improvement plan that works for you with 1 phone call.

What you’ll get

1
Assess

Fill in your information and we will securely pull your TransUnion credit report.

2
Address

We challenge inaccurate negative items with the bureaus and your creditors.

3
Advise

We will give you advice for how you can improve your credit. Don’t want to wait? Call us now.

This is completely secure and won’t hurt your credit score.

By clicking "Submit" I agree by electronic signature to: (1) be contacted about credit repair or credit repair marketing by a live agent, artificial or prerecorded voice and SMS text at my residential or cellular number, dialed manually or by autodialer, and by email (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

Don’t want to wait? Call (888) 859-0871 now

FinanceJar

Advertising Disclosure

Some of our articles feature links to our partners, who compensate us when you click them. This may affect the products and services that we showcase in our articles and how we place and order them. It does not affect our evaluations of them, which our writers and editors create independently, without considering our relationships with our partners.

FinanceJar

Editorial Standards

We promise to always deliver the best financial advice that we can. That’s our first priority, and we take it seriously.

To ensure that our articles and reviews are objective and unbiased, our writers and editors operate independently from our advertisers and affiliates. Our writers do not take FinanceJar’s relationship with its affiliates into consideration when writing their reviews and articles.

Everything we publish is as accurate and as complete as we can make it. All of our articles undergo several rounds of fact-checking before we publish them, and we do our best to keep them as no-nonsense and jargon-free as possible while still delivering the information that you need.

We know that taking financial advice from us requires a lot of trust on your part. We’re grateful for that trust, and we won’t abuse it. Learn more about our editorial standards.

FinanceJar

How We Make Money

FinanceJar partners with other companies in the credit and finance industry, such as credit card issuers and credit repair companies.

We make money through advertising. Our pages feature links to our partners’ websites. If you click on one of those links, we get paid.

The links to our partners are always clearly marked. You’ll always be able to tell what you’re clicking. We’ll never try to trick you into clicking anything you’re not genuinely interested in.

That’s the only way that we make money. We don’t accept compensation in exchange for reviews or articles, and we don’t directly sell any products or services ourselves. Our editorial team operates independently (with no influence from our affiliates or our advertising team) so as to avoid compromising the objectivity of our reviews. Learn more about how we make money.