Secured Credit Cards with No Annual Fee
| Credit Card | Best For | Credit Score | Annual Fee | Welcome Bonus |
|---|---|---|---|---|
| Overall | 300–669 | $0 | Cashback Match | |
| No Credit Check | 300–669 | $0 | ||
| Building Credit | 300–669 | $0 | ||
| Free Credit Scores | 300–669 | $0 | ||
| High Credit Limit | 300–669 | $0 |
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If you have bad credit or a limited borrowing history, you may be looking at getting a secured credit card. On top of security deposits, a lot of these cards charge annual fees, and some even charge monthly and startup fees.
Luckily, this isn’t always the case, and you can still find a secured credit card without annual fees. To help you find the right one, we’ve put together a list of our 5 favorites.
What’s a secured credit card?
A secured credit card is a credit card that requires a security deposit. The security deposit on a credit card acts as collateral, so the issuer can keep the deposit if the borrower doesn’t pay their credit card bill.
Secured credit cards are an accessible borrowing option for people with bad credit or no credit. Because they pose a low risk to lenders (since they can take your deposit if you don’t pay), it’s usually easier to get approved for a secured credit card than an unsecured one.
Do secured credit cards have annual fees?
Not all secured credit cards have annual fees. Like most credit cards for bad credit, secured cards tend to have worse borrowing terms, including fees and high APR. However, this isn’t always the case. There are secured credit cards for bad credit that don’t charge annual or monthly fees.
Best secured credit cards without annual fees
Rewards, credit building, and flexible credit limits—all without an annual fee. Here are our top 6 secured cards that don’t charge annual fees.
