What is the best secured credit card to rebuild credit with?

The best secured credit cards to rebuild credit with are the Discover it Secured Card, the Capital One Secured Mastercard and the OpenSky Secured Visa. To be clear, all major secured credit cards can help you rebuild your credit. They all report account information to the major credit bureaus every month. And all those with low annual fees and low deposit requirements are in the running for the top spot. But the Discover, Capital One and OpenSky secured cards each bring something special to the table.

Here are the best secured credit cards to rebuild credit:

• Best for Rewards: Discover it Secured Credit Card
  $0 annual fee. $300 deposit required. 2% cash back at gas stations and restaurants (first $1,000 every three months). 1% back on all other purchases. Rewards doubled year one. Reports to all 3 major credit bureaus.
• Best for a Low Deposit: Capital One Secured Mastercard
  $0 annual fee. $49, $99 or $200 deposit required. No rewards. Reports to all 3 major credit bureaus.
• Best for No Credit Check: OpenSky Secured Visa Credit Card
  $35 annual fee. $200 minimum deposit. No rewards. Reports to all 3 major credit bureaus.

There are a few more cards that deserve an honorable mention, too. For example, the Citi Secured Mastercard, Harley-Davidson Secured Visa and First National Secured Visa don’t charge annual fees. And that’s one of the most important things to look for in a secured credit card.

The primor Secured Visa Gold Card also has a low APR, at 9.99%. But you probably don’t want to carry a balance from month to month with a secured credit card, though. It basically means paying interest on a loan you’ve given yourself, since you pre-pay your spending limit.

You do, however, need to remember that choosing the right credit card is only the first step toward rebuilding your credit. You must also use that card responsibly month after month so that the information reported to the credit bureaus each month is positive. Regularly adding positive information to your credit reports gradually covers up the negative records that led to your rebuilding project in the first place.

Your card will report positive information as long as you pay your bill on time every month. Using less than 30% of your spending limit each month, or paying multiple times per month, can help too. But if you really want to rebuild your credit, you’ll need to get the rest of your financial house in order as well. That means paying down debt, catching up on past-due accounts, steering clear of collections accounts, etc.

There are several really good secured credit cards that can help you rebuild your credit, provided of course you use them responsibly. Some of them are: the Capital One Secured Mastercard, which reports to all 3 major credit bureaus, and doesn’t have an annual fee; the Discover it Secured Card (also without an annual fee, and gives you cash back on every purchase), and the OpenSky Secured Visa Credit Card, which doesn’t check your credit.

I think Opensky is definitely the best for rebuilding. You don't get any rewards with it, but they don't put a hard inquiry on your credit report either. It's a breath of fresh ai, really. Can't stand seeing those just hurt your credit for no apparent reason.

For me, it was Capital One's Secured. They saved me a lot of trouble. Being a Mastercard it was accepted everywhere and Cap One's customer service was top-notch.