The best secured credit card with airline miles is the AeroMexico Visa Secured Credit Card. That’s because the annual fee is low, at $25, and you get 1 mile per $1 spent on purchases. You also get double miles on gas and groceries. Plus, you get a 3,500 mile bonus and a companion certificate the first time you use the card. You’ll have to put down a $300 deposit when you open the card. The deposit is what secures your card, as the issuer can use it to pay your balance if you default, and it serves as your credit limit. If you close the card with your account in good standing, you’ll get your money back. If you have an unpaid balance, the issuer will take it out of your deposit and return the rest.
AeroMexico is the best secured credit card with airline rewards, but it’s not the only one.
Here are the secured credit cards with airline miles:
AeroMexico Visa Secured Credit Card: The annual fee is $25. You earn 2 miles per $1 on gas and groceries, and 1 mile per $1 everywhere else. You get 3,500 miles and a companion certificate the first time you use the card. Miles are transferable to AeroMexico’s SkyTeam partner airlines. Plus, there’s a $99 companion certificate each year when you renew your membership. You’ll receive 1 free checked bag on AeroMexico flights. The minimum deposit is $300.
LATAM Visa Secured Card: The annual fee is $0 for the first year and $25 every year after that. You get 1 LATAM Airlines mile for every $1 you spend. You also get 5,000 miles the first time you use your card and a 10% discount on your first LATAM ticket, up to $500. Rewards and benefits also apply to oneworld® airline partners. The minimum deposit is $300.
SKYPASS Visa Secured Card: The annual fee is $50. You get 1 mile on Korean Air for every $1 you spend. You also get 5,000 miles for making your first purchase, and another 1,000 miles every year when you renew your membership. The minimum deposit is $300.
Discover it Secured Credit Card: There’s no annual fee. You get 2% cash back on $1,000 spent at restaurants and gas stations each quarter, and 1% everywhere else. So while you don’t earn airline miles, you will get 1% back on airline ticket purchases, and you can use your other cash back earnings to help pay. Plus, Discover matches all the cash back you earn the first year. The minimum deposit is $200.
On paper, the best secured credit card with airline miles is the one with the most rewards for its annual fee. But in real life, the best miles are those you will actually use. So make sure to consider which airline suits your travel needs best, in addition to which card is best for your wallet.