What banks offer secured credit cards?

First National Bank of Omaha and Bank of America are among the banks that offer secured business credit cards. However, it is worth noting that secured business credit cards are pretty rare. Banks are far more likely to offer general-consumer secured cards or unsecured business credit cards.

Banks That Offer Secured Business Credit Cards… read full answer

Even though there are so few banks that offer secured business credit cards to small business owners with bad credit, that doesn’t mean those are the only options. Standard secured cards like the OpenSky® Secured Visa® Credit Card can also work for business owners with a personal credit score of 300 or little-to-no borrowing experience.

Whether you’re approved for a secured business credit card or a consumer card, it’s important to pay your monthly bill on time and keep your spending in check. As long as you practice this type of responsible card use, you should be able to qualify for better business credit cards in the future.

One of the best secured credit cards with a low deposit is the Capital One Platinum Secured Credit Card because new cardholders may be able to put down either $49, $99 or $200 and still get a $200 credit line, which would make the card only partially secured. Plus, there’s a $0 annual fee.

Other secured cards don’t have the potential to be quite as cheap, but there are a few really good options with a $200 minimum deposit. That’s still pretty low compared to several secured cards that ask for $300-$500+. … read full answer

Here are some good secured credit cards with low deposits:

The Capital One Platinum Secured requires a $49, $99 or $200 minimum deposit. This card has a $0 annual fee and $0 foreign transaction fees. The Capital One Platinum Secured has a $200 starting credit limit.

The Citi Secured requires a $200 minimum deposit. The card has a $0 annual fee and 3% foreign transaction fees.

The OpenSky requires a $200 minimum deposit. The card has a $35 annual fee. OpenSky foreign transaction fee. There is no credit check when you apply.

The Capital One Quicksilver Secured requires a $200 minimum deposit. This card offers 5% cash back on hotels and rental cars booked through Capital One Travel, as well as 1.5% cash back on all other purchases. The Capital One Quicksilver Secured has a $0 annual fee and $0 foreign transaction fees.

It’s worth noting that the Capital One Platinum Secured doesn’t guarantee a low deposit, but it does offer the chance of one. If your credit is toward the bottom of the bad credit range, you’ll probably still have to put down a $200 deposit. But the higher your credit score is, the better chance you’ll have of being assigned a low deposit.

The best high limit secured credit card is the U.S. Bank Secured Visa® Card. You can put down a security deposit of up to $5,000 to receive a credit limit of the same amount. The card is available to people with bad credit and it has a $0 annual fee. The regular APR is 27.74% (V).… read full answer

With almost all secured credit cards, your credit limit is the same amount as the security deposit you put down. There is another high limit secured credit card that lets you deposit as much as $5,000: the Harley-Davidson® Secured Credit Card. But several others allow limits in the thousands. The OpenSky® Secured Visa® Credit Card lets you deposit up to $3,000 and doesn’t even do a credit check when you apply. And there are a few other high limit secured credit cards of note.

Best High Limit Secured Credit Cards

• $5,000 maximum limit: U.S. Bank Secured Visa® Card. $300 minimum deposit. $0 annual fee.
• $5,000 maximum limit: Harley-Davidson® Secured Credit Card. $300 minimum deposit. $0 annual fee.
• $3,000 maximum limit: OpenSky® Secured Visa® Credit Card. $200 minimum deposit. $35 annual fee. No credit check when you apply.
• $3,000 maximum limit: Merrick Bank Classic Secured Credit Card. $200 minimum deposit. Annual fee: $36 1st yr, $0 after that.
• $2,500 maximum limit: Discover it® Secured Credit Card. $200 minimum deposit. $0 annual fee. 2% cash back on $1,000 spent per quarter at restaurants and gas stations combined. 1% back on everywhere else. First year’s cash back matched.
• $2,500 maximum limit: Citi® Secured Mastercard®. $200 minimum deposit. $0 annual fee.

So, there are plenty of high limit secured credit cards that will give you a few thousand dollars to work with. Just keep in mind that you’ll have to deposit as much as you want credit limit-wise. But the deposit is fully refundable when you close the card with a zero balance.